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.
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.
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?
The question is not whether trees, CCS and direct air capture are needed, but what will deliver carbon removal at scale.