This month, South Korea became the second Asian country after Kazakhstan to officially start a national carbon market. The first carbon allowances that were traded on the Korea Exchange were sold at a similar price to that in Europe’s emissions trading system (EU ETS).
Brussels, 17 December 2014. Today, the European Parliament adopted the proposal to implement the Fuel Quality Directive (FQD), opening doors for the use of offsets associated with Alberta’s tar sands. A report launched today shows how the oil companies’ lobby succeeded in watering down
24 October 2014, Brussels. Today’s decision on a 40% greenhouse gas reduction target by 2030 is contaminated by excess emission allowances from the current system that will water down the real-world reduction to 31%. EU leaders agreed on new trading options that avoid necessary
Scroll down for French and German Brussels, 20 October. This week EU Heads of State are expected to agree on new headline targets for the EU’s 2030 climate and energy framework, including a target to reduce the EU’s greenhouse gas emissions by at least
On 23 and 24 October 2014, EU’s Heads of State will determine Europe’s future action to avoid dangerous global temperature rise. It is expected that they will propose to reduce Europe’s domestic greenhouse gas emissions by merely 40% below 1990 levels by 2030. While
For the last couple of years, the European carbon market has failed to provide a signal for decarbonisation with carbon prices hovering around 5 euros for a tonne of CO2. To address this, earlier this year, the European Commission proposed to reform the EU’s
While Europe is trying to get its emissions trading system (ETS) out of the doldrums, China is busily preparing to launch its national carbon market. By 2020, China’s carbon market will have surpassed the EU ETS as the world’s largest carbon market, covering around
On 24 September the European Parliament’s Environment committee, voted down an objection to the European Commission’s new carbon leakage list, 34 to 30. The objection was lodged by Green MEP Bas Eickhout and argued that the proposed €30 per tonne carbon price, used in
In early September, the council conclusions on the 2030 climate and energy framework were leaked. Worryingly, the draft text stated that the current practice of giving free pollution permits to heavy emitters needs to be maintained while “dynamically” allocating these permits based on actual
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