The debate on EU industrial subsidies in the face of the US Inflation Reduction Act and against the backdrop of the Emissions Trading System (EU ETS) and Carbon Border Adjustment Mechanism (CBAM) deals raises some uncomfortable questions.
The long process that was meant to transform the EU’s Emissions Trading System into an effective tool for climate action has culminated in a final deal that will not reduce Europe’s industrial carbon footprint rapidly enough to tackle the climate crisis. The reformed EU ETS lavishes freebies on polluting industries and leaves households and taxpayers with the bill.
The International Civil Aviation Organisation’s General Assembly has further weakened CORSIA, its only carbon pricing tool. It is high time that the EU stopped being hostage to ICAO and industry interests and tackles aviation emissions regionally. Aviation emissions account for 2-3% of total global carbon emissions and should be tackled and regulated by the UN’s …
Ahead of the next trilogue between the EU institutions on the Emissions Trading System (EU ETS), scheduled to kick off next week, CMW’s Agnese Ruggiero and WWF’s Camille Maury tackle the misconceptions and bust the myths about the EU’s carbon market’s revision. The current energy crunch and the burning hot summer Europe experienced this year …
Read more “Clearing the fog around heavy industry’s carbon market claims”
Raiding the reserve that underpins the EU’s Emissions Trading System to reduce the European Union’s dependence on Russian gas is short-sighted and destructive, especially as far better solutions exist. The Market Stability Reserve (MSR) is an important element of the EU Emissions Trading System. It has proven effective in supporting the carbon price, and helped …
Read more “Plundering the EU’s carbon market to fight the energy crunch is self-defeating”
As the EU institutions enter into a three-way trilogue on the reform of the Emissions Trading System, we present you with this handy comparative analysis of the options on the table and Carbon Market Watch’s recommendations. Almost a year after the publication of the European Commission’s proposal for the revision of the EU’s Emissions Trading …
Rather than correct course after the European Parliament’s shocking abrogation of responsibility, EU environment ministers have lowered the ambition of the EU ETS even further. Moreover, the Environment Council has offered heavy industry billions in generous freebies while leaving households to pay the bill. Last week, MEPs voted on a diluted Emissions Trading System, undermining …
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. …
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 …
Read more “EU Parliament sends carbon market review back to the drawing board”
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 …
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