Carbon Market Watch reaction to leaked 2030 Council Conclusions

On 23 and 24 October 2014, EU’s heads of state will determine Europe’s future action to avoid dangerous global temperature rises. At this important date, they will decide whether to follow the European Commission’s proposal to reduce 40% domestic greenhouse gas (GHG) emission reductions below 1990 levels by 2030. The proposed target of 40% GHG …

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Draft EU Council conclusions propose taxpayers continue subsidising industry’s pollution to avoid a problem that doesn’t exist.

by CMWEU carbon marketPosted on Comments are Disabled

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 production levels. A rebuttal by Carbon Market Watch shows that this approach could result in EU taxpayers paying industry an extra €130 billion worth of free emission allowances, while the public have never been presented proof that carbon leakage actually exists.

Carbon Leakage Rebuttal

“Dynamic allocation” – an industry model for windfall profits from free emission allowances at the expense of taxpayers The EU Emission Trading System (EU ETS) covers just over 40% of the EU’s greenhouse gas emissions from the industry and power sector. After each year, companies participating in the system must surrender enough allowances to cover …

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Carbon Leakage

by CMWEU carbon marketPosted on Comments are Disabled

Carbon leakage is the situation in which, as a result of stringent climate policies, companies move their production abroad to countries with less ambitious climate measures, which can lead to a rise in global greenhouse gas emissions. In Europe, the EU Emission Trading System (EU ETS) covers the greenhouse gas emissions from the industry and …

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The EU Emissions Trading System: All You Need To Know About The World’s Largest Carbon Market

Tuesday 22 July 2014 from 15:00 to 17:00 European Parliament – Room JAN 6Q1 AN EVENT KINDLY HOSTED BY: Peter LIESE, EPP Matthias GROOTE, S&D Gerben-Jan GERBRANDY, ALDE Bas EICKHOUT, Greens/EFA The EU Emissions Trading System (EU ETS) is the largest carbon market in the world covering more than 11,000 power stations and industrial plants …

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Policy Briefing: What’s needed to fix the EU’s carbon market: Recommendations for the Market Stability Reserve and future ETS reform proposals

Executive Summary The EU Emissions Trading System (EU ETS) is the largest carbon market in the world and was originally seen as the cornerstone of Europe’s climate policies. However, the EU ETS has suffered from a large amount of excess emissions allowances largely caused by weak emission reduction targets and the inflow of carbon offsets. …

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