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 […]

EU agrees to fix emissions trading scheme

The EU Environment Council has agreed new measures to reform the Emissions Trading System (ETS). It has agreed to create a market stability reserve (MSR) for the greenhouse gas emissions trading scheme, a ‘cap and trade’ system designed to cut pollution by making businesses pay for producing greenhouse gas emissions. Companies can buy and sell […]

UK joins EU nations backing early carbon market reform

The UK, along with eight other member states, have reiterated their call for “ambitious and early action” to reform the EU Emissions Trading System. UK Energy Secretary Ed Davey has signed a joint statement with ministers from the Netherlands, Sweden, Denmark, Slovenia, Luxembourg, Malta and Norway, stressing the need for all sides to come together for an outcome […]

Carbon trading should be linked globally, MPs say

A system to allow carbon trade to be linked between countries across the globe is the “most cost effective way possible” to cut CO2 emissions. The Energy and Climate Change Committee believes the emissions trading system (ETS) is becoming “increasingly popular” and could provide a revenue stream for governments, potentially offsetting other taxes and supporting […]