The recent drop in prices on the EU’s Emissions Trading System (EU ETS) threatens to slow industrial decarbonisation and to deprive state treasures of urgently needed funds for climate action.
The Free Allocation Regulation (FAR) revision is a necessary step to ensure the last years of the free allocation system are coherent with the aim of a full phase-out by 2030 (or 2034 for CBAM sectors) and provide the investment signals necessary to funnel funding into industrial decarbonisation.
Emissions Aristocracy of just 30 companies spews out half of the greenhouse gases covered by the European Union’s Emissions Trading System (EU ETS), representing a quarter of the EU’s carbon footprint, a CMW report uncovers.
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”
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.
In this joint letter, some 30 NGOs and green manufacturers urge MEPs to vote to end free pollution permits under the EU’s Emissions Trading System (EU ETS) and to use the extra revenue raised to finance more ambitious climate action.
Even though the European Union’s Emissions Trading System has already issued over €200 billions in free emissions permits, the European Commission is proposing hundreds of billions of euros of additional free allowances for polluting industries. Europe must scrap these pollution subsidies and make polluters pay the true price of their pollution, environmental NGOs urge EU …
Executive summary Since its inception, the EU Emission Trading System (EU ETS) has been giving free allowances to most energy-intensive industries deemed at risk of carbon leakage. “Carbon leakage” refers to a hypothetical situation where companies transfer production to countries with weaker climate policies in order to lower their costs. This policy briefing interprets the …
Read more “The Phantom Leakage – Industry windfall profits from Europe’s carbon market 2008-2019”
While the EU carbon market is helping to clean up Europe’s power sector, industrial CO2 pollution remained stubbornly high, and that from aviation kept growing in 2019. This is partly due to overly generous handouts of pollution permits. These subsidies must be phased out to incentivise cleaner production and more sustainable transport as the scheme …
Read more “EU carbon market report underlines the need to end pollution handouts”
First published on Carbon Pulse October 17, 2019 As part of her “European Green Deal”, incoming EU Commission President Ursula von der Leyen has promised to introduce a carbon border tax to “ensure that European companies can compete on a level playing field”. This is a new wind coming from the executive branch of the European Union …
Read more “Taxing carbon at the EU border? Only if free pollution permits go”
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