UPDATE – EU should use CBAM revenues to help poorer countries decarbonise their steel too -think tank
The EU can paint its Carbon Border Adjustment Mechanism (CBAM) in a good light by redistributing revenues to help the least developed countries decarbonise their own steel industries, according to research published on Monday.
Read MoreEuro Markets: EUAs drop by most in six months as options hedging amplifies gas-driven weakness
European carbon prices dropped by their biggest margin in six months as traders positioned themselves ahead of the upcoming expiry of the December options contract, amplifying the effect of weaker gas prices, while UK carbon allowances fell to their lowest in seven months amid low gas-fired generation and continued regulatory uncertainty.
Read MoreSlovenia pledges €403 mln to rescue coal assets amid phaseout push -media
The Slovenian government has committed €403 million to prevent the bankruptcy of the Sostanj coal power plant and the Velenje mine, taking control of both from state-owned utility Holding Slovenske Elektrarne (HSE) as part of its plan to phase out the fuel source by 2033.
Read MoreANALYSIS: Despite November uptick, EU fossil power emissions on course for yet another heavy annual drop
Annual EU carbon emissions from electricity generation covered by the bloc’s ETS are set to slump heavily once again in 2024 despite a strong rise in gas-fired output last month, analysts have said, though next year could see a much tighter market and a sustained price recovery.
Read MoreEurope risks missing 2030 climate goals without urgent policy action, analysts warn
Europe may have made significant progress in decarbonising its energy sector, but investment efforts must more than double to an average of $1 trillion annually by 2030.
Read MoreSwitzerland’s Alpiq hires veteran European emissions trader
Switzerland’s Alpiq has hired a veteran trader for its European emissions desk.
Read MoreEuro Markets: EUAs rebound in late rally as market awaits options expiry
European carbon prices struggled for direction for much of Friday, with participants said to be anticipating options expiry next week, before a late rally saw the benchmark reclaim nearly all of the value it had lost this week during a string of gas-driven bearish sessions.
Read MoreFrance’s CCS rollout plan stopped in its tracks after government falls
Plans to develop carbon capture and storage (CCS) in France have made headway over the past months and will resume as soon as the political situation stabilises and the 2025 budget is voted, an official told EU policymakers on Thursday.
Read MoreEuro Markets: EUAs drift along with TTF gas as traders trim length ahead of weekend
European carbon prices ended slightly lower on Thursday, following the evolution in front-month natural gas as both markets saw length being trimmed amid what has been a weak few days.
Read MoreEU likely to propose exempting small companies from CBAM in early 2025, senior EU official says
The European Commission is likely to next year put forward a proposal to exclude small companies from the EU’s Carbon Border Adjustment Mechanism (CBAM), a senior official told Carbon Pulse on Thursday.
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