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Brussels unveils post-2030 EU carbon market overhaul, with softer emissions cuts and limited role for international credits
The European Commission on Friday proposed long-awaited reforms to the EU Emissions Trading System (ETS), as well as the supply-balancing Market Stability Reserve (MSR), aiming to ease concerns over rising production costs by slowing annual CO2 cuts, incorporating carbon removals and international credits over the next decade, and allocating billions of euros' worth of additional free permits to industry. Read MoreTop
ANALYSIS: EU ETS reform proposals "materially bearish", to add hundreds of millions to post-2030 carbon allowance budget
The European Commission's proposed EU ETS reforms are bearish for long-term carbon prices in the bloc and could add as many as 450 million additional permits to the market's carbon budget between 2031-40, as a looser emissions cap and allowances for carbon removals more than offset tighter Market Stability Reserve (MSR) rules, analysts have said. Read MoreTop
EU proposes extending ETS coverage to some long-haul flights as CORSIA falls short
The European Commission has proposed extending the EU Emissions Trading System (ETS) to cover some international flights from 2029, as well as all business jet travel to and from the bloc, after concluding that ICAO’s global carbon offsetting scheme CORSIA had failed to deliver. Read MoreTop
Commission's EU ETS reforms seek to balance emission cuts with fairness and price stability
Brussels has opted for an EU Emissions Trading System (ETS) reform that would strengthen the market’s effectiveness while maintaining regulatory certainty, fairness across sectors, competition safeguards, and a more stable carbon price trajectory. Read MoreTop
Brussels to hand out 80 mln more free EU ETS permits pre-2030 to "fallback" industries
The European Commission has proposed handing out an additional 80 million free carbon allowances to industrial installations covered by the general “fallback” benchmark categories in the bloc's Emissions Trading System (ETS), it announced on Friday as part of a broader EU carbon market review. Read MoreTop
EU moves to close loopholes for ships trying to avoid carbon market fees
Brussels is ramping up action against ships trying to avoid paying EU ETS fees, extending the market's scope to smaller vessels, changing the definition of an "evasive" port, and classifying offshore worksites as "ports of call", as part of a broader carbon market reform published on Friday. Read MoreTop
EU proposes phased entry of waste into ETS, with opt-outs and carbon capture support
The European Commission on Friday proposed bringing municipal waste incineration into the EU Emissions Trading System (ETS) from 2031 under a gradual and more flexible approach than previously expected, combining a delayed phase-in with temporary national opt-outs and new financial support. Read MoreTop
European Parliament aims to vote on EU ETS reform by end 2026
The European Parliament aims to adopt its position on the EU Emissions Trading System (ETS) reform by the end of the year, the MEP who will lead it confirmed on Friday after the European Commission presented its proposal to amend the bloc’s carbon market. Read MoreTop
US Democrats warn of alleged illegal misappropriation of carbon capture funds to support coal
Two US Democratic lawmakers have asked the DOE to halt the obligation of funds previously earmarked for carbon capture programmes that are now planned to be driven towards the coal industry. Read MoreTop
BRIEFING: Working group to explore central bank mandates and fiscal policy role in energy transition
Central banks and monetary policy are key to the transition away from fossil fuels but will have differing respective government mandates and fiscal capacities across jurisdictions, spokespeople said on a webinar Thursday. Read MoreTop
Northeast US states, California to sue Trump administration over offshore wind cancellation deals
Attorneys general (AGs) for a group of US Northeast states and California intend to sue the Trump administration for its alleged unlawful buyouts of major offshore wind projects. Read MoreTop
EU Commission plans to align electricity and gas taxes in new Electrification Action Plan
The European Commission set a first-ever goal on Friday to boost the EU's electrification to 46% by 2040, and introduced rules underpinning the target, including to align national power and gas taxation, and steer energy use and investment through changes to the grid. Read MoreTop
Euro Markets: EUAs recover to end day flat after initial fall with Commission ETS reforms largely "priced in" to benchmark
European carbon saw heavy early selling after long-awaited EU ETS reforms were presented by the European Commission on Friday morning, before a short-lived rally pushed the benchmark recover back towards €80, as prices ended the day largely flat after traders said any bearish changes had largely been priced into the market prior to the announcement. Read MoreTop
EU consults on applying its ‘do no significant harm’ environmental principle under next budget
The European Commission has opened a consultation seeking input on how it might apply the ‘do no significant harm’ (DNSH) to the environment principle under the bloc’s next long-term budget. Read MoreTop
