%%excerpt%% CMW response to European Commission consultation on CBAM downstream expansion and anti-circumventionIn this response to a public consultation, Carbon Market Watch urges the European Commission to place emissions reductions at the top of its policy priorities. New downstream products should only be added to the Carbon Border Adjustment Mechanism after a careful analysis assessing the global emission decrease the expansion could generate. Expanding the product list should not, under any circumstances, jeopardise the entry into force of the CBAM in 2026 nor should it delay the phasing out of free allowances under the EU Emissions Trading System (EU ETS).
In the heated debate on exports that risks undermining the very foundation of the CBAM, one question remains unanswered: for how long can EU policymakers shield heavily polluting productions from paying the fair price for their emissions?
Heavy industries covered by the EU Emissions Trading System (ETS) received most of their pollution permits for free, effectively subsidising Europe’s dirtiest businesses, a new report by Carbon Market Watch and WWF reveals. This wasteful and inefficient policy cost society €40 billion.
After receiving billions in state aid and free pollution subsidies to decarbonise its production, steel producer ArcerlorMittal put its clean steel projects on hold.
There is an increasing need for both public and private expenditure, and an availability of growing ETS revenues. Those delivering the most climate action must be rewarded.
Our latest FAQ has the answers to everything you always wanted to know about the Carbon Border Adjustment Mechanism.
Carbon Market Watch has reviewed the draft European Commission implementing regulation on the reporting obligations during the transitional period of the newly introduced Carbon Market Adjustment Mechanism (CBAM). Whilst the proposed methodology could be considered rigorous, there are a few shortcomings that need to be urgently addressed. CMW’s recommendations encourage the framework to deliver an …
Read more “Reporting obligations during the transitional period of the CBAM”
The steel industry’s strategic importance coupled with its strong lobbying power have combined to shield it from a tightening of the Emissions Trading System. This is harmful to the climate, unfair to taxpayers and hurts the sector’s long-term competitiveness.
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.
