ICAO Council drops 2020 from emissions baseline for CORSIA’s pilot phase
ICAO’s Council on Tuesday agreed to omit 2020 from the carbon neutral growth baseline during the international aviation offset programme CORSIA’s first three years, while leaving the door open for the UN body’s Assembly to make that change for the entire 15-year duration of the scheme.
Read MoreRaising EU GHG target to 55% possible if all sectors contribute, says energy chief
EU Commissioner for Energy Kadri Simson is optimistic about the bloc’s ability to raise its 2030 emissions target to 55%, she said at an online event on Tuesday, stressing the need to cut GHG output from heavy industry and to spur energy efficiency in buildings.
Read MoreEU Market: EUAs spike to nine-month high above €27 on more speculative buying, short-covering
EUAs raced to a nine-month high above €27 on Tuesday, surging on more speculative buying and short-covering to reverse early losses in volatile quarter-end trade.
Read MoreGHG removal platform Puro.earth focuses on web sales in search for scale
Greenhouse gas removal platform Puro.earth has paused its bi-monthly auctions, favouring web sales to bolster trade in its premium-priced credits for the voluntary carbon market.
Read MoreBRIEFING: Incoming German EU presidency outlines plans to “strengthen” ETS, steer climate law
The incoming German presidency of the Council of EU member states will keep climate policy and the bloc’s carbon market high on the agenda, as Berlin will be responsible for fostering agreements among EU nations over an upgraded level of ambition for 2030.
Read MoreMARCU MY WORDS: Carbon leakage and competitiveness – different objectives, different tools
The EU needs to broaden its debate beyond a proposed carbon border adjustment mechanism in order to deal with carbon leakage and competitiveness issues thrown up by its climate ambition running ahead of that pursued by its main trade partners, argue Andrei Marcu, Michael Mehling, Aaron Cosbey of think-tank ERCST.
Read MoreEU Market: EUAs surge to 2020 high near €27 on speculative buying, short-covering
EUAs surged to near €27 on Monday to hit their highest so far this year, rebounding by almost 10% from early weakness as speculator buying drove a strong auction result and widespread short-covering.
Read MoreFrance’s Macron to present new environmental agenda after election setback
French President Emmanuel Macron will put forward in September new climate legislation based on citizen proposals and push for more climate ambition at EU level, he said on Monday following a major setback in local elections.
Read MoreUS threatens CORSIA exit if GHG baseline decision not made next week
The US will opt out of the first three years of the CORSIA offset mechanism for global air travel if other countries do not agree to alter the programme’s emissions baseline next week, with other nations potentially following suit, a Dutch minister said Friday.
Read MoreGermany leads four-nation call for Brussels to keep alternatives to carbon border tax open
Four EU governments including Germany have co-signed a statement asking the European Commission to consider additional options in preventing carbon leakage besides a carbon border adjustment mechanism (CBAM).
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