Euro Markets: Expiring Dec-24 contract posts 21% drop in 2024, as trading completes shift to new benchmark
Dec-2024 European carbon futures ended its run as the benchmark EUA contract 21% down from its level at the start of the year, with a 1.7% daily decline as weakening natural gas prices continued to weigh on carbon, while the front-December UKA ended its run down by 27% from Dec. 31, 2023.
Read MoreEU ETS revenues can help to scale up clean shipping and aviation fuels -analysis
Using just some of the revenues from taxing pollution from airplanes and ships could be used to cover the higher cost of lower-carbon fuels, according to analysis published on Monday.
Read MoreEuropean oil and gas producers call for a ‘CCS Bank’
The EU should introduce a carbon contracts for difference (CCfD) auctioning mechanism, fed by the EU ETS Innovation Fund, to incentivise CO2 capture and storage, a Brussels-based advocacy group for oil and gas producers said on Monday.
Read MoreEuropean cement giant partners with carbon capture startup, aiming to decarbonise portfolio
A large European building materials company has signed a cooperation agreement with a carbon capture startup, aiming to use the technology to help decarbonise its global portfolio of industrial plants.
Read MoreEU climate chief outlines four key aspects of upcoming Clean Industrial Deal
The EU’s Clean Industrial Deal initiative, due at the end of February, will seek to rebalance climate action and economic growth, with four key areas of action to accelerate decarbonisation, said EU climate commissioner Wopke Hoekstra last week.
Read MoreAllowance banking in carbon markets essential for policy effectiveness, stable prices -paper
Allowing permit banking in emissions trading systems is crucial to their success, and neglecting this feature could lead to an underestimation of carbon prices and economic impacts, according to a central bank working paper.
Read MoreEuro Markets: EUAs hit five-week low ahead of benchmark contract expiry as prompt gas tumbles
EU carbon allowances fell to a five-week low on Friday, tracking a big drop in natural gas prices as reports emerged of negotiations to keep some Russian exports flowing to Europe next year, while carbon traders began to shift their attention to the Dec-25 EUA futures contract, which takes over as the benchmark early next week.
Read MoreMontenegro seeks CBAM exemption by linking power system with EU -media
Montenegro has asked for an exemption from the first year of the EU’s Carbon Border Adjustment Mechanism (CBAM), the country’s energy minister said on Friday as reported by local media.
Read MorePREVIEW: Five things to watch on EU climate policy in 2025
With the Polish EU Council presidency focusing on energy security in the first half of the year, the initiative on climate is expected to come from the European Commission, with a series of proposals due in the first quarter, including a much-awaited Clean Industrial Deal at the end of February.
Read MoreSwiss CBAM compliance startup raises €1.5 mln in seed funding
A Swiss-based startup has secured €1.5 million in seed funding to advance its integrated hardware-software platform designed to facilitate compliance with the EU’s Carbon Border Adjustment Mechanism (CBAM).
Read More