UK intends to stay in EU’s carbon market until 2020

The government is still working through the details of how this would work during the transition period

EU carbon market reform clears final hurdle

The European Council has formally approved the reform of the emissions trading system (ETS) for the period after 2020. The ETS sets a cap on how much CO2 power stations and the heavy industry can emit, with the total volume of allowed emissions distributed to companies as permits. Under the revised ETS directive, the cap […]

Ontario pledges to support tech to fight climate change

A Canadian province has pledged to support the development of low carbon technologies to reduce greenhouse gas emissions and fight climate change. It is part of Ontario’s Climate Change Action Plan and is funded by proceeds from the province’s cap on pollution and carbon market. Reza Moridi, Minister of Research, Innovation and Science has launched […]

EU lawmakers rubber-stamp carbon market reform

European lawmakers voted in favour of a deal to reform the region’s carbon market after 2020. The draft law, already informally agreed with EU ministers, would accelerate the yearly reduction in the quota of the Emissions Trading System (ETS) allowances to be auctioned. It would also allow the Market Stability Reserve capacity to be doubled […]

China to launch world’s largest emissions trading system

China has detailed plans for what is believed will be the world’s largest emissions trading system. It would cover more than 1,700 power companies and three billion tonnes of greenhouse gas emissions. Li Gao, Director, Climate Department at China’s National Development and Reform Commission (NDRC) said trading will begin after a period of “preparatory work” […]

EU and Switzerland to link carbon markets

The Swiss Federal Council has approved a deal to link the carbon markets of the nation with the European Union. The Emissions Trading System (ETS) aims to reduce the amount of greenhouse gas emissions generated by the sectors responsible for the most emissions. The European Commission has submitted its ratification to the EU Council for […]

Time to change carbon trading says business

Businesses say the carbon trading scheme in the EU must be changed to keep on track for a low carbon future. The European Union Emissions Trading Scheme (EU-ETS), should be reformed to reduce the amount of emissions allowance that is traded on the market said a group of European business leaders. In a letter sent […]

Carbon market could reach €70bn this year

Analysts predict the global carbon market will double in worth to around €70 billion (£46bn) over 2015. The Point Carbon team at Thomson Reuters says the higher prices in the European emissions trading scheme (EU ETS) already helped pushed the global value up by 15% during 2014 to €45 billion (£35bn). Carbon credits on the EU market finally hit €7.4 […]

UK: EU carbon market reforms must start in 2017

The UK Government is urging for tougher reforms to make the EU Emissions Trading System (ETS) work “more efficiently” and boost investment in clean technologies. DECC is calling for the so-called Market Stability Reserve (MSR), expected to address the emission allowances that has built up, to be brought forward to 2017 – four years earlier […]

Carbon markets ‘need to be linked’ for cross border trading

Emissions trading systems around the world need to be linked together according to International Emissions Trading Association (IETA). In its annual Greenhouse Gas Markets report the association said 2013 had been a good year for the development of carbon markets around the world. Although trading volumes had fallen in the European and Kyoto markets, it […]