Tag: emissions allowances

Italian taxpayers are set to pay €1.7 billion for unnecessary international carbon credits to meet the country's obligations under the Kyoto Protocol while Italy's government hands out free allowances to companies, according to climate NGO Sandbag.

The European Commission has revised the EU's greenhouse gas emissions cap under its emissions trading scheme for 2013 in order to accommodate new sectors such as aluminium and petrochemicals.

The European Commission's climate department yesterday (9 September) announced it had identified some 50 product benchmarks for allocating free CO2 emission permits to industry amounting to around €100 billion until 2020.

A UN body said last Friday (20 July) it would review a request from a Chinese plant destroying HFC-23 to generate carbon credits after having blocked four similar requests in a bid to ensure that the plants do not deliberately boost their greenhouse gas emissions.

European Union governments on Wednesday unanimously agreed detailed rules for auctioning carbon permits in the third phase of the bloc's emissions trading scheme from 2013, the European Commission said yesterday (14 July).

The European Commission is coming under pressure to revise its draft regulation on emissions allowance auctioning, which would provide multiple auctioning platforms but not enough oversight, according to critics.

The European Commission has backed down on plans to establish a centralised platform for auctioning CO2 emission allowances from 2013, allowing Germany, the UK and other large emitters to organise auctions at national level, according to a draft proposal seen by EurActiv.