EU’s 2040 climate target plan facing delay amid political infighting
The European Commission will put forward its 2040 climate target bill “sooner rather than later”, a spokesperson said Friday, reaffirming that Europe’s aim is still to get its legislation adopted before the COP30 UN climate summit in November.
Read MoreEurope’s industrial slump not caused by EU ETS – for now, say analysts
The share of carbon in the cost structure of industries covered by the EU’s Emissions Trading Scheme (EU ETS) is currently too small to cause deindustrialisation on its own, but will become a growing cause for concern in the coming years, analysts said.
Read MoreUK proceeds with technical ETS changes aimed at transparency, simplification
The UK ETS Authority intends to move forward with proposed technical and operational changes to the market, aimed at creating more transparency, maintaining parallels with the EU ETS, and simplifying compliance, it announced on Thursday evening.
Read MoreEuro Markets: EUAs retreat after setting 15-month high, as analysts highlight retracement potential
European carbon allowance prices reached a new 15-month high on Thursday morning, before giving back the gains as EUAs cut loose from their recent correlation with TTF natural gas and German power in the afternoon amid a pick-up in selling activity, with analysts pointing to growing potential for a price retracement.
Read MorePOLL: Analysts retain bearish near-term outlook for UK Allowances on policy uncertainty, oversupply
Analysts have kept their bearish UK Allowance outlook for the year ahead due to the policy uncertainty and oversupply that continue to hang over the market, revising down forecasts for benchmark futures prices by around 5% compared to previous polling.
Read MorePOLL: Tightening supply, speculator positioning lead analysts to lift EU carbon price forecasts
Analysts have nudged up their forecasts for EU carbon allowance prices for the remainder of Phase 4 (2021-30), predicting that tighter market conditions will start to bite from this year.
Read MoreEuro Markets: EUAs maintain upward momentum to new 15-month high as investors build more length
European carbon allowance prices rose to new 15-month highs on Wednesday, boosted by stronger power and gas prices and continued speculator buying, supported by a weekly Commitment of Traders report that showed investment funds had again increased their long position to the most in more than three years.
Read MoreEU climate goals are “cast in stone” but implementation must be more flexible, von der Leyen says
The EU will “stay the course on climate targets” but employ a more flexible method to get there, European Commission President Ursula von der Leyen said on Wednesday during the presentation of the executive’s new ‘Competitiveness Compass’ meant to guide Brussels policymaking in the next five years.
Read MoreEU CBAM could cost Northern Ireland up to £200 mln per year -report
The EU’s Carbon Border Adjustment Mechanism (CBAM) may be costly and disruptive for Northern Ireland, requiring payments of up to £200 million a year — unless the bloc and UK decide to link their emissions trading schemes, a new report warned on Wednesday.
Read MoreWeaker gas influence on carbon, mild industrial recovery expected in Europe -analysts
The alignment of European carbon with natural gas could weaken in 2025, while speculators should support bullish EUA price development, according to an energy markets outlook published on Wednesday.
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