Italy set to pivot to temporary gas price cap as ETS reimbursement plan fades
Italy appears to be moving away from its controversial proposal to reimburse carbon costs, with a new consultation on plans to instead introduce a temporary gas price cap mechanism that analysts say is more likely to win regulatory approval but would have a much smaller impact on electricity prices.
Read MoreEl Nino could add 17 mln tonnes to India’s emissions
A strengthening El Nino could add 17 million tonnes of carbon dioxide to India’s emissions just over the next year as extreme heat drives up demand for electricity and weaker wind and rainfall curb renewable power generation, according to an analysis.
Read MoreItaly’s Enel urges long-term stability in EU carbon market to drive investment
The EU’s flagship Emissions Trading System (ETS) risks scaring off long-term investment unless policymakers curb regulatory “noise” and set out a clearer plan for how subsidies and the carbon price will work together to drive decarbonisation, said Italy’s largest power company.
Read MoreCanadian national carbon credit framework pledged under new multi-billion dollar prosperity agreement
British Columbia and Canada signed a multi-billion dollar prosperity agreement, including a commitment to develop a multilateral National Carbon Credit Framework.
Read MoreFossil fuels inclusion would undermine incoming Canadian sustainable finance taxonomy -report
Including oil and gas activities in Canada’s planned sustainable finance taxonomy would undermine its credibility, invite greenwashing and reduce its ability to attract investment for net zero-aligned projects, a new report argued.
Read MoreUK engineered carbon removal credits could top 850 mln by 2050 -report
Total UK-based engineered carbon removal credit supply could reach up to 852 million by 2050 under a high-growth scenario, according to modelling commissioned by the British government.
Read MoreEU updates green reporting rules, slashes mandatory datapoints by 60%
The European Commission on Friday proposed revised sustainability reporting standards for companies operating in the EU, saying the changes will cut reporting costs for businesses by around 30%.
Read MoreEU countries to vote on CBAM carbon price deduction rules in September
EU member states will vote in September on rules defining which foreign CO2 prices importers can deduct from their Carbon Border Adjustment Mechanism (CBAM) fees, a European Commission official said.
Read MoreWind energy industry urges EU ETS overhaul to prioritise industrial electrification
The European Commission should use its upcoming revision of the EU Emissions Trading System (ETS) to redirect billions of euros in carbon market revenues towards industrial electrification, trade association WindEurope has said.
Read MoreIndia proposes carbon intensity targets for iron, steel under ETS
India’s environment ministry has proposed carbon intensity targets for iron and steel producers under its Carbon Credit Trading Scheme, the largest sector yet brought under the compliance mechanism.
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