The amount of permits in circulation in Europe's carbon market increased last year, as the COVID-19 pandemic caused emissions covered by the scheme to drop, the European Commission said on Wednesday (12 May).
A senior EU official on Tuesday (11 May) defended European Commission plans to extend the bloc's carbon market to road transport, arguing that revenues generated could be used to offset the effects of higher fuel prices on the poorest in society.
The European Union’s head of climate change policy warned against policymakers intervening in the carbon market on Friday (7 May), after the price of EU carbon permits soared this week to record highs.
The European Union carbon price hit a record high of above €50 per tonne on Tuesday (4 May), a key milestone in what analysts say is likely a long-term climb towards the price levels needed to trigger investments in innovative clean technologies.
Europe will apply its emissions trading scheme to buildings and transport, European Commission President Ursula von der Leyen told a summit of world leaders on Thursday (22 April), setting the stage for the EU’s planned overhaul of its carbon market.
The European Commission has made it clear that industries covered by the EU’s upcoming carbon border levy will no longer receive free CO2 allowances under the bloc’s carbon market, the emissions trading scheme (EU ETS).
The European Commission's upcoming June package of energy and climate laws will “propose the extension of the emission trading scheme to sectors such as building and road transport,” the EU's energy commissioner Kadri Simson said on Thursday (25 March).
The renewed focus on the COVID-19 crisis and delays with the European vaccination campaign are set to overshadow talks on how to align industrial policy with the EU's climate goals at an EU summit meeting on Thursday (25 March).
The European Parliament has rejected proposals to phase out free CO2 pollution credits for industries covered by the EU’s Emissions Trading System (EU ETS), even as the bloc plans to gradually replace the scheme with a carbon levy at its border.
The future carbon border adjustment mechanism is part of the "new own resources" for the EU budget and must be used to "combat global warming" across the world, Green MEP Yannick Jadot said on Wednesday (3 March). EURACTIV France reports.
Lawmakers in the European Parliament on Friday (5 February) backed a levy on carbon-intensive products imported into Europe, calling on the European Commission to introduce a so-called "carbon border adjustment mechanism" as quickly as possible.
The European Commission needs to have further discussions with Beijing and other trading partners about its upcoming carbon border levy, a senior Chinese diplomat said at a EURACTIV event on Thursday (28 January).
Some British companies are still buying permits from the EU carbon market as uncertainty over Britain's planned domestic carbon market means they can't yet use it to protect themselves against future price rises.
The European Union's proposed carbon border charge is essential to the survival of its own industries and the bloc will impose the levy on non-EU competitors unless they commit to lowering their emissions, the bloc's climate policy chief said on Monday (18 January).
As the UK takes its first steps away from the EU, there are still plenty of open questions about how it will align with Europe on climate policy, and in particular, with the EU's flagship emissions trading scheme (ETS).
Positive “tipping points” in the uptake of electric vehicles and the decarbonisation of electricity generation could spark a global transition to a climate neutral economy, scientists say, providing fresh hope in the fight against global warming.
The price of permits on the European Union carbon market has soared to record levels in the first trading days of the year, hiking costs for polluters as the EU prepares measures to enforce deeper emissions cuts.