FEATURE: EU weighs touchy question of whether to count international carbon credits towards CBAM
The EU is weighing how its Carbon Border Adjustment Mechanism (CBAM) should treat the international credits included in the carbon pricing schemes of other countries — with climate experts and industry representatives divided on whether these should be deductible from border fees.
Read MoreBullishness temporarily returning to EU carbon market amid allowance, gas supply squeezes -analysts
European carbon prices are rising as renewed uncertainty over gas supplies and adverse weather conditions lift demand for allowances, analysts said, predicting that EUAs could climb into the mid-€70s within the next month as new supply flows are briefly halted.
Read MoreCross-party MEP group calls on EU to prioritise ‘Industrial Carbon Management’
A cross-party group of 30 EU Parliament lawmakers has called on the European Commission to prioritise Industrial Carbon Management (ICM) technologies in the coming five-year mandate.
Read MoreTurkiye offering €2.8 mln to help it transpose EU ETS Directive into national law
Turkiye has launched a €2.8-mln tender seeking a contractor to help it transpose the EU ETS Directive into national law and analyse the impact of the bloc’s Carbon Border Adjustment Mechanism (CBAM) on the country.
Read MoreEuro Markets: EUAs erase Monday losses amid options hedging volatility, stronger prompt power
European carbon prices erased their losses from Monday, tracking movements in front-month natural gas, a strengthening power market, and fluctuating between two key options strike prices, as the market positioned itself ahead of Wednesday’s options expiry.
Read MoreBalancing power generation technologies could save €65 trillion by 2050, cut carbon by 21% -report
The deployment of balancing power generation technologies such as flexible gas-fired plants and energy storage, alongside renewables, could slash cumulative power system costs by €65 trillion and cut carbon emissions by 21% by 2050, according to a new report.
Read MoreUPDATE – 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.
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