EU and China commit to step up co-operation on tackling climate change

They signed an agreement at the 20th Summit between the two regions in Beijing today

China meets 2020 carbon target ahead of schedule

It provides a boost to the Paris climate agreement, which aims to limit global average temperature increase to well below 2°C

Governments pledge co-operation on carbon trading

High level officials from 26 national and subnational governments have pledged to strengthen action on climate change through renewed co-operation on carbon markets. That includes EU Member States, Mexico, Republic of Korea, California and Tokyo. A three-day meeting in Lisbon last week, organised by the International Carbon Action Partnership (ICAP), brought together key policymakers to […]

Carbon trading co-operation could cut climate costs

Global co-operation on carbon trading could reduce the costs of climate change mitigation by 32% by 2030. That’s according to a new report by the World Bank which adds the figure could rise to more than 50% by 2050. It shows increased international carbon trading could enable large-scale emission reductions at much lower costs based on […]

South Korea starts emissions trading system

South Korea opened its new emissions trading system today, with firms able to buy and sell credits on the Korea Exchange (KRX). Said to be the second largest carbon trading scheme in the world, it is meant to cut the country’s greenhouse gas emissions by 30% by 2020 (compared to a business as usual baseline). […]

EU carbon price dips after five month high

The price of allowances for carbon emissions in the EU dipped yesterday after hitting a five month high on Tuesday. Large energy users in Europe including airlines which touch down in the EU must buy credits if they emit more carbon than their set limit. Carbon permits reached €6.50 on Tuesday, leading analysts at price […]

EU 30% energy efficiency target “could weaken carbon price”

Analysts predict the EU’s target to boost energy efficiency could weaken the EU emissions trading system. Yesterday the European Commission set out a framework to cut energy use by 30% by 2030. The Point Carbon team at Thomson Reuters reckons carbon prices could fall as a result. Marcus Ferdinand, Head of EU Carbon Analysis says: […]

Shanghai starts carbon emissions trading

The Chinese city of Shanghai launched its carbon trading scheme today (pictured) as it strives to cut its greenhouse gas emissions. Three trades for a total of 9,500 permits went through in the first half-hour after the market opened. The first was sold for 27 yuan (£2.7) per metric ton, according to the Shanghai Environment […]

EU carbon price back-loading earns second chance?

Beleaguered plans to postpone or “backload” carbon allowances under the EU’s Emissions Trading Scheme have been given a boost after MEPs on the EU’s environment committee voted for them a second time. The EU ETS is meant to push businesses towards cutting their emissions by putting a cost on the carbon they emit but allowances […]

npower’s Wayne Mitchell’s Blog

Is Carbon Trading Doomed in Europe? “If carbon trading can’t make it in Europe, it can’t make it anywhere,” was the pronouncement in Time magazine, following news that the EU Parliament had voted to reject the carbon allowance back-loading plan put forward to help stabilise its Emissions Trading Scheme. You may recall that I wrote […]