The EU’s ‘Fit for 55’ proposal would phase out jet fuel subsidies and end free emissions trading allowances for airlines, but without global cooperation, the changes will not stop aviation emissions growing.
Arguing that electrification will increase carbon emissions is misguided, argues Jan Rosenow from the Regulatory Assistance Project. Instead, the focus must be on bringing more renewables online to make electricity production as clean as possible.
Legislative proposals to revise the EU Emissions Trading System seek to nearly double the rate at which the emissions cap declines, but free allowances will be extended as a new carbon border adjustment mechanism is born.
Climate campaigners say the move will penalise society’s most vulnerable, while the chair of the European Parliament’s environment committee calls it “politically suicidal”.
The price of carbon in Europe has doubled this year, and some believe it could double again. Europe’s emitters face a new paradigm of structurally higher EU allowance prices.
ESG investors that eschew manufacturing companies with a high carbon footprint and low market capitalisation are putting the energy transition at risk. Neither the EU taxonomy nor a carbon border tax alone are the answer.
The climate impacts of the paper industry have largely escaped scrutiny. But it will have to decarbonise along with other energy-intensive sectors. Heat pumps could be the solution.
Road transport and buildings have been spared from EU ETS obligations until now, but an upcoming revision may change that, and climate campaigners are concerned.
The burden of emissions reductions imposed by the EU carbon market has fallen mostly on the power sector, but, as emissions targets deepen, this will have to change. Are Europe’s industrial emitters ready?
Brexit has been a serious blow to the City of London. Can a growing global sustainable finance market provide some compensation?
Companies will not know for many months what the price of carbon will be in the UK's post-Brexit emissions trading system (ETS). Some are hedging their bets by continuing to buy EU ETS allowances.
The question is not whether trees, CCS and direct air capture are needed, but what will deliver carbon removal at scale.
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