Majority in European Parliament supports deleting CBAM temporary suspension mechanism
The largest political groups in the European Parliament, including the centre-right European People’s Party (EPP), back removing the Carbon Border Adjustment Mechanism’s (CBAM) temporary suspension clause from the European Commission’s December proposal to extend the scheme.
Read MoreEuro Markets: EUAs jump 4% to upper end of recent range as benchmark leaks offer support
European carbon prices surged strongly after the holiday weekend as traders appeared to react to leaked proposals showing that free allocation benchmarks would not change significantly from the previous trajectory, supporting the bullish narrative that had driven prices up by around 50% from a year ago, as well as to the market’s failure to break below €73.00 in previous sessions.
Read MoreEU industry chief backs deeper ETS use as competitiveness fund takes shape
The EU must channel far more EU carbon market revenue into clean investment, while building a “credible” new Competitiveness Fund, the European Commission’s Stephane Sejourne told European Parliament members on Tuesday.
Read MoreAttacks on EU ETS a “smoke screen” to deflect from inaction on real industry issues -report
Political pressure on the EU’s Emissions Trading System (ETS), which is being blamed for declining industrial competitiveness and rising energy costs, is more a “smoke screen” distracting from inaction on real issues across national governments across the bloc, a new policy brief has argued.
Read MoreGroups clash over use of international carbon credits in EU policy framework
Think tanks, NGOs, and scientific bodies have warned the EU over the planned use of international carbon credits in its climate policy framework, while a large number of companies endorsed their inclusion, also in the bloc’s carbon market, in response to a public consultation.
Read MoreBrussels clears Austrian, Spanish aid schemes to support heavy industry with EU ETS costs
The European Commission has approved Austrian and Spanish support schemes designed to shield energy-intensive industries from higher electricity prices linked to the EU’s Emissions Trading System (ETS) and preventing production relocation outside Europe.
Read MoreEU climate chief faces MEPs ‘ping-pong’ over ETS’ role in 2040 climate target
EU Climate Commissioner Wopke Hoekstra told lawmakers on the European Parliament’s environment committee that the bloc’s flagship carbon market must become a more “conditional” and investment-driving tool, as MEPs pressed him on how an upcoming review of the EU’s Emissions Trading System (ETS) will align with the bloc’s new 2040 climate goal.
Read MoreCross-party lawmakers urge EU not to include international credits in its carbon market
A group of cross-party European Parliament lawmakers have urged the European Commission not to include international carbon credits in the EU’s Emissions Trading System (ETS).
Read MoreEuro Markets: EUAs slip 1% as gas rebounds on rising tensions in the Middle East
EU carbon edged downwards in thin trading during a UK public holiday, as European gas markets strongly rebounded after Iran threatened to attack US forces operating in the Strait of Hormuz.
Read MoreGermany moves step closer to cancelling carbon permits linked to 2024 coal plant closures
Germany has completed its intention to voluntarily cancel EU carbon allowances associated with the 2024 closure of 14 coal-fired electricity generation plants covered by the EU Emissions Trading System (EU ETS), the European Commission confirmed last week.
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