Japan, South Korea oppose move to bring global shipping to EU carbon market
Japan and South Korea has voiced concerns over EU plans to extend the scope of its ETS to include emissions from all voyages using the 27-nation bloc’s ports, which the European Commission is considering as part of its carbon market reform.
Read MorePortugal adopts passenger carbon tax in 2021 state budget
A proposal to introduce a passenger tax in Portugal’s budget for next year was adopted in the national Parliament on Wednesday.
Read MoreSwitzerland adopts stopgap measure to extend climate measures through 2021 ahead of referendum
Switzerland’s Federal Council on Wednesday adopted a revised CO2 ordinance, which enters into force on Jan. 1, 2021 and acts as an emergency measure to extend several of the country’s climate action instruments.
Read MoreUK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents
The British government is consulting the oil and gas industry about penalties under a post-Brexit UK emissions trading scheme, in what observers said was another potential sign the country will opt to implement a domestic cap-and-trade system instead of a tax when it leaves the EU ETS at the end of this year.
Read MoreUK govt fines trio of grounded airlines over £130 mln for EU ETS breaches
The UK has levied more than £130 million in fines on three grounded airlines for not complying with their obligations under the EU carbon market.
Read MoreEU Market: EUAs briefly lift above €28 on markets rally, strong auction
EUAs neared €28 on Wednesday to continue this week’s upward move as wider financial markets rose on prospects for a smooth US presidential transition and COVID-19 vaccine progress, while data showed investors continued to pile into the EU ETS ahead of the looming supply drought.
Read MoreEU nations lay groundwork on 2030 climate goal ahead of key summit
EU delegations have begun work on the conclusions of a key EU summit on Dec. 10-11 where the 27-nation bloc’s leaders could agree a higher 2030 GHG reductions target, although some hurdles remain.
Read MoreEU confirms strong warming effects of aviation beyond CO2, urges caution
The non-CO2 climate impacts from aviation are at least as important as those of CO2 alone, according to fresh analysis published by the European Commission on Tuesday, which has angered campaigners by recommending waiting years to take any action.
Read MoreANALYSIS: Analysts reinforce bullish EU carbon price outlooks on auction delay
Analysts have reinforced their bullish outlooks for EU carbon prices in the coming months following news last week that the start of next year’s allowance auctions would be delayed.
Read MoreEU Market: EUAs break through technical resistance as markets react to Biden transition
EU carbon allowances rose for the third straight session on Tuesday as bullish sentiment about a smooth transition of presidential power in the US lifted wider markets, with an upcoming supply drought also helping EUAs bust through a technical ceiling to notch their highest close in two months.
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