PREVIEW: World braces for change as EU CBAM comes into force
As the EU’s carbon border adjustment mechanism comes into effect on Oct. 1, exporters to the region are gearing up to measure their carbon impact and bracing for levies further down the line, with several jurisdictions already moving to ramp up the development of their own carbon pricing measures in a bid to minimise the economic impact of the policy.
Read MoreEuro Markets: EUAs record biggest weekly drop in two months as liquidity drains from the market
European carbon prices fell back on Friday morning in very thin trading activity as the third quarter approached its end, while energy markets also weakened as mild weather and high gas stocks continued to weigh on the markets.
Read MoreProposed EU climate and Green Deal commissioners face parliamentary ‘grilling’
The European Commission’s proposed new climate and Green Deal commissioners are expected to face tough hearings before the European Parliament next week despite receiving backing from some quarters.
Read MoreEU to launch plan to speed bloc’s deployment of heat pumps as industry flags drop in sales
An EU action plan to boost the deployment of heat pumps is currently in the making, the bloc’s energy commissioner Kadri Simson announced on Thursday in a move that could mean lower launch carbon prices for the bloc’s second ETS in the coming years.
Read MoreEU businesses raise alarm over red tape cost impact as CBAM launch looms
European importers face rising prices and administrative bottlenecks as the EU’s new carbon border adjustment mechanism (CBAM) comes into effect from next month, according to a think-tank report published on Thursday that surveyed businesses.
Read MoreEuro Markets: EUAs snap three-day losing streak as carbon-gas price correlation increases
European carbon prices climbed moderately in choppy Thursday trade, underpinned by a strengthening link to gas prices as well as a second strong auction in a row, as participants continued to speculate over investment funds’ likely positioning in the coming days, while energy markets were firmer amid gas supply interruptions in the North Sea.
Read MoreEU must opt for stringent CO2 targets for trucks to maintain competitive edge -green group
The EU risks losing a sizeable chunk of the truck manufacturing market to competitors such as the US and China by 2035 if it does not adopt high CO2 standards for heavy-duty vehicles, according to NGO-commissioned analysis published on Wednesday.
Read MoreEuro Markets: EUAs drift as positioning data shows small decrease in funds’ bearish bets
European carbon prices were slightly weaker on Wednesday as traders absorbed Commitment of Traders data that showed a small decrease in the net short position of investment funds, with several participants questioning whether this would be enough of a change to trigger another short squeeze.
Read MoreIceland agrees to buy 3.4 mln Kyoto emissions rights from Slovakia
Iceland has agreed to buy 3.4 million sovereign carbon units from Slovakia in order to fulfil its legally-binding obligations under the Kyoto Protocol’s second commitment period (2013-20).
Read MoreEU power market reform to underpin a reshaping of the economy as Franco-German tensions ease
EU electricity market design reforms (EMR) will only see the light of day if member states, namely France and Germany, find compromise and let go of currently unsustainable practices, according to experts calling for a quick resolution to deadlocked negotiations amid signs that tensions are easing between the two largest economies in the bloc.
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