Carbon copy: MEPs vote for Emissions Trading System reforms they rejected two weeks ago

After being recently voted down in the European Parliament, the reform of the EU’s Emissions Trading System (EU ETS) was successfully passed today. But there’s little cause for celebration: while the changes might appear favourable at first glance, a closer look reveals they are simply a minor facelift to the same set of polluter-friendly policies.  …

A compromise too far: Why no deal at the European Parliament was better than a bad deal on EU’s carbon market – Updated

Since the European Parliament’s failure to reach an agreement on the comprehensive reform of the EU Emissions Trading System, MEPs have traded recriminations. However, those claiming that the defeated compromise deal was good for the climate are being disingenuous. Our analysis reveals it would have been catastrophic had it gone through. On 8 June 2022, …

June newsletter editorial: Dramatic week in climate politics shows undercutting ambition is unacceptable

Events followed by more than one member of the CMW team at a time are rare. On the occasion of the European Parliament’s vote on the reform of the EU Emissions Trading System on 8 June, several of us were glued to our screens following the parliamentary proceedings and sharing reactions in an online chat. …

New study: Slashing aviation emissions at little cost to airlines

A new analysis shows the expansion of the scope of the EU’s Emission Trading System (EU ETS) for aviation could bring several environmental and economic benefits without significantly increasing operating costs for airlines. The major benefits of expanding the scope of the EU ETS for aviation has this month been demonstrated by a new study. …

EU Parliament sends carbon market review back to the drawing board

In an unexpected turn of events in the European Parliament, a watered-down carbon market package was rejected by a majority of MEPs. The review of the EU Emissions Trading System (EU ETS) Directive was referred back to the Environment Committee and will now overlap with  Member States finalising their position later this month. In Strasbourg …

The Carbon Border Adjustment Mechanism must replace EU carbon market freebies

The European Union must hold firm and act now to live up to its commitment to future generations by taking concrete steps to phase out free pollution permits under its Emissions Trading system, writes Laurence Lamy, head of EU Affairs at Cem’in’EU. The European Union is at a crossroads in its climate ambition. The coming …

European Parliament’s compromise vote on EU carbon market compromises our ability to prevent climate breakdown

Despite some progress and a number of hardwon victories for the climate, MEPs on the European Parliament’s environment committee failed to raise the ambition of the EU’s Emissions Trading System (EU ETS) to a level that would avoid catastrophic temperature rises. After almost a year in the legislative pipeline since it was proposed as part …

EU carbon market must lead to faster emissions cuts to tackle climate crisis, new research shows

If the European Union does not significantly strengthen its reformed flagship Emissions Trading System (EU ETS), it risks fuelling planetary heating that will exceed 1.5°C and even missing its own inadequate targets, two simulations show. The EU ETS must significantly raise its 2030 targets, lower its emissions faster than planned, and remove surplus allowances from …

May newsletter editorial: Revamping carbon market can help wean EU off fossil fuels

Slovakia’s Deputy Prime Minister Richard Sulík has a surreal idea for emptying Vladimir Putin’s war chest. “We should lower energy prices… We should suspend CO2 trading, because that drives up energy prices,” he opined in a 5 May interview on the EU’s oil embargo on Russia with German public broadcaster Deutschlandfunk.  Moreover, the centre-right politician …

Carbon removals are no substitute for deep emissions reductions, warns IPCC

Carbon removals will become a vital tool for reducing carbon concentrations in the atmosphere but only massive cuts in emissions will give humanity a fighting chance of keeping global heating to 1.5°C or below, says the UN’s Intergovernmental Panel on Climate Change (IPCC). The latest IPCC report, which was released in April, outlines various pathways …