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 […]

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 Member States endorse emissions trading reforms

EU Member States yesterday endorsed the provisional deal on reforming the EU emissions trading system (ETS) after 2020. The reforms agreed by the Council of Ambassadors earlier this month aims to help the EU to deliver on its target of cutting greenhouse gas emissions by at least 40% before 2030. It hopes to achieve this […]

Council greenlights EU-Swiss emissions trading link

The European Council has given the green light for the agreement linking the EU and Swiss emissions trading systems (ETS). It will now forward it to the European Parliament for its consent in order to conclude the agreement. The ETS is one of the main tools for cost effectively reducing greenhouse gas emissions, in particular […]

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 […]

Member States agree EU carbon trading reform

Plans to reform the EU’s trading scheme for cutting carbon emissions have been approved by Member States. The overhaul of the Emissions Trading System (ETS) comes just two weeks after the European Parliament voted in favour of a new directive. The EU ETS works as a ‘cap and trade’ system and makes businesses pay for […]

MEPs vote to reduce emissions trading carbon credits

Members of the European Parliament (MEPs) have backed proposals to reform the EU Emissions Trading System (ETS) beyond 2021 to balance greater cuts in greenhouse gases. The EU ETS works as a ‘cap and trade’ system and is designed to cut pollution by making businesses pay for producing greenhouse gas emissions. The system has however […]

Surplus of EU emission allowances fall

The surplus of Carbon Dioxide emission allowances in the EU started declining in 2015. This is the first significant decrease since unused Emissions Trading System (ETS) allowances started accumulating in 2008, according to a report published by the European Environment Agency (EEA). The EU ETS is a cornerstone of the EU’s policy to combat climate change […]