MEPs vote against back-loading EU emissions scheme

Members of the European Parliament today rejected a crucial measure to stop a flood of allowances for carbon emissions sweeping the market. MEPs voted against ‘back-loading’ carbon permits, which would have withheld 900 million permits from the EU’s flagship Emissions Trading Scheme and helped prop up the price of carbon. Firms in large energy intensive industries […]

California carbon permit prices higher than expected

The US state of California held its second auction of greenhouse gas allowances last week and sold all of nearly 13 million carbon permits on offer for this year. The allowances sold for slightly more than market expectations, it was reported. The cap-and-trade programme is a central part of California’s global warming law and covers […]

Push back release of carbon permits, says international trading group

A Brussels-based trade body has told the European Commission that a crucial scheme meant to keep a check on emissions should push back the number of carbon permits put out for auction. The EU is debating whether to “backload” the number of carbon allowances available in the EU Emissions Trading Scheme to try and prop […]

Deutsche Bank employees in court over alleged carbon crimes

A German court has heard from defendants this week over allegations of tax evasion. According to Reuters, one of the first six to stand trial, a 35-year-old defendant told the court that Deutsche Bank “set itself up” for tax evasion. A spokesperson for Deutsche Bank told ELN that the bank itself was not under investigation […]