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.
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.
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
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 …
Read more “Carbon removals are no substitute for deep emissions reductions, warns IPCC”
We can draw vital lessons from the functioning of the EU’s current Emissions Trading System to expand it to the building and transport sectors in a way that serves the climate and advances social justice. In its current shape, the EU’s Emissions Trading System (EU ETS) is far from perfect. It falls short on overall …
Read more “Designing a sound EU carbon market for buildings and transport”
Rather than propose amendments to the EU’s Emissions Trading System that would take the heat off the climate and serve society, European parliamentarians are squabbling over the quantity of freebies to offer polluting industries. The process of revamping the EU’s Emissions Trading System is in full swing. Members of the European Parliament’s Environment Committee have …
Read more “Milking the EU’s carbon market cash cow for industry”
The horror playing out in Ukraine disturbs and distresses the Carbon Market Watch team. We have discussed it amongst ourselves. We have expressed our solidarity with those who are affected. We share their anger at the Russian regime’s unwarranted aggression, senseless bloodshed and escalating destruction. We have joined Ukrainian activists in asking for the international …
Read more “March newsletter editorial: The Ukraine tragedy and the heavy price of war”
The higher carbon prices on the EU’s Emissions Trading System (EU ETS) of the last three months have caused cross-sectoral concern. Many are placing unsubstantiated blame on speculative trading. But with speculation a minor problem at best, is flooding the market with more carbon allowances a solution or a dangerously reckless move? In the EU, …
Read more “Higher carbon prices: Is speculation truly to blame?”
Dear friends, Shortly before a dinner guest around our New Year’s Eve table asked me whether it will really be possible to satisfy all our future energy needs with electricity from renewable sources, the European Commission slipped through its controversial proposal for what constitutes green investment. In the Commission’s draft addition to the green taxonomy, …
Read more “January newsletter editorial: Europe’s sustainable energy quandary”
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