European carbon allowances (EUAs) are trading at around âŹ60/t. One year ago, it was at an all-time high of âŹ100/t. HĂŠge Fjellheim at Veyt explains why, and why prices should recover. Economically, the drop is due to two main factors: lower gas prices and shrinking energy demand from industry. Politically, additional supply of EUAs came from the EUâs REPowerEU plan to accelerate the energy transition and break dependency on Russian gas by partly … [Read more...]
Two years on, how is Russiaâs invasion of Ukraine driving energy security and decarbonisation?
Russiaâs invasion of Ukraine has boosted anxiety and therefore action on energy security and dependence on oil and gas. Sanctioning Russian oil and gas imports is an opportunity to replace fossil fuels with low or no carbon alternatives, an opportunity that is being taken. And renewables like wind and solar are by their nature local and therefore good for energy security (though with notable exceptions). Charles Hendry, Ellen Wald, Olga Khakova, … [Read more...]
The link between global GDP growth and CO2 emissions is weakening rapidly. Will emissions peak well before 2030?
Economic growth has been closely tied to rising greenhouse gas emissions since the industrial age. But data now clearly shows that that GDP growth and CO2 emissions are diverging. Siddharth Singh at the IEA presents the numbers. In advanced economies that divergence now seems locked in, with 2007 marking the moment of peak emissions (and not simply because of offshoring manufacturing). Even in developing economies GDP growth is far outpacing … [Read more...]
EU ETS or national climate targets? We need both
The choice between using the EU ETS or national climate targets to decarbonise is a false dilemma. We need both, explains Chiara Corradi at T&E writing for the Florence School of Regulation. There are plenty of examples where a carbon market and national targets have delivered good results together, as in Germany, Finland, Denmark and Portugal. And, looking ahead over the next few decades, the right policies should be able to cope with ETS … [Read more...]
U.S. and EU: vastly different approaches to trade and climate put a transatlantic deal at risk
Uncertainty over the results of this yearâs elections in the U.S. and the EU have effectively postponed trade deals between the two blocks. That means when talks restart in 2025 there will be even less time to find the best compromises. As Gautam Jain, Noah Kaufman, Chris Bataille and Sagatom Saha at the Center on Global Energy Policy explain, itâs why this time should be taken to better understand the differences and lay out the possible … [Read more...]
EU Elections 2024: the Green Deal can be an emblem of what Europe is for
Itâs a European election year, which means all of us - not just the politicians and policy-makers â need to get our heads around what the EU is for. SĂ©bastien Treyer at the IDDRI lays out the challenges faced in a moment of climate crises, war and high inflation, when voters are prone to polarisation and manipulation. He asks the difficult questions over economic security, inequalities between Member States, global influence, engagement with … [Read more...]
2023: a year of climate backlash? Or a show of Europeâs green resilience
Looking at the mainstream media 2023 seemed to be a year of climate backlash, but the real story was Europeâs green resilience, writes William Todts at T&E. Though support in the German coalition for 100% electric vehicles by 2035 started to unravel, it didnât: allowing combustion cars to keep running after 2035 on 100% e-fuels should change little given thereâs no way such vehicles, if they ever get built, could compete with EVs, says Todts. … [Read more...]
Five major outcomes from COP28 (and next yearâs is in Azerbaijan, another oil and gas producer)
Mark Maslin, Priti Parikh and Simon Chin-Yee at UCL lay out the five major outcomes from the latest COP28 climate summit in the UAE, a major oil and gas producer. Though in the run up there was great hope for a new climate agreement on the phasing out of all fossil fuels, that never happened. Phase out turned into a âtransition away from.â The authors note that the first ever mention of fossil fuels in an international climate agreement was only … [Read more...]
Carbon Footprints for every product: the need for sector-specific, comprehensive granular data and accounting
As governments and consumers increasingly want to know the carbon footprints of individual products, all actors in the global supply chain are under pressure to measure them, and accurately. But existing voluntary emissions reporting frameworks need to greatly improve the quality of their data and accounting processes, explain Nicole Labutong, Wenjuan Liu and Iris Wu at RMI. Blind spots can lead to meaninglessly inaccurate measurements. Itâs far … [Read more...]
Why we need a European Central Carbon Bank within the EU ETS framework
The EU Emissions Trading System (EU ETS) is at a critical juncture as it navigates a path towards achieving a net-zero Europe by 2050. Amidst this transformation, the proposal to create the European Central Carbon Bank (ECCB) has sparked a range of criticisms. Some critics have raised valid concerns about the feasibility, necessity, governance, and potential drawbacks of such an institution. Robert Jeszke and Sebastian Lizak at the Centre for … [Read more...]
How much protection from carbon-intensive imports will CBAM give to EU industries?
The EUâs Carbon Border Adjustment Mechanism (CBAM) is not a business-as-usual instrument that allows sectors to delay decarbonisation. It applies a levy on imported goods equal to the internal EU ETS-related carbon price, so that both EU-produced goods and those imported into the EU face similar carbon cost pressures. But sectors must use the CBAM phase-in period to decarbonise. Pablo Ruiz and Barbara Kölbl at Rabobank look at how different … [Read more...]
CBAM is now active. A guide to what companies must do to comply
On October 1st 2023 the Carbon Border Adjustment Mechanism (CBAM) became effective. Its purpose is to limit carbon leakage by establishing a carbon price on imported goods that is equivalent to the carbon price on domestically produced goods. That means introducing a set of reporting and compliance obligations for importers of goods into the EU. Simon Göss and Hendrik Schuldt at carboneer explain the new mechanism and scope (aluminium, cement, … [Read more...]
EU legislators must avoid crippling clean tech with a blanket ban on PFAS (per-and polyfluoroalkyl substances)
A blanket ban on all types of PFAS (per-and polyfluoroalkyl substances), or âforever chemicalsâ, is currently being considered by the European Chemicals Agency (ECHA). PFAS are used in cleaning products, non-stick pans, personal care products and more, so a ban on these will save lives and deliver sustainable practices. But, as Daniel Fraile at Hydrogen Europe explains, the PFAS subgroups of fluoropolymers and perfluoropolyethers are used in … [Read more...]
Resource nationalism is not the United Statesâ biggest minerals problem
A growing number of resource-rich nations are planning to restrict exports of unprocessed raw materials, explain Gracelin Baskaran and Cy McGeady at CSIS. Currently, a significant proportion of critical minerals are exported to China for processing, giving it monopoly power in the value chain. If countries like the DRC, Namibia, Ghana, Zimbabwe, and Indonesia instead processed their own raw materials they would create skilled jobs and industries … [Read more...]
Fossil producer UAE to host COP28: what are Gulf states doing to decarbonise?
COP28 in November is being hosted by the United Arab Emirates (UAE), a major oil and gas producer. The COP President will be Sultan Al Jaber, the CEO of ADNOC, one of the worldâs biggest oil companies. Itâs attracted heavy criticism from many quarters. Robin Mills at the Center on Global Energy Policy reviews the contradictions inherent in a leading fossil producing nation hosting the worldâs most important decarbonisation forum. The Gulf states … [Read more...]
- 1
- 2
- 3
- …
- 78
- Next Page »