Since the European Parliament’s failure to reach an agreement on the comprehensive reform of the EU Emissions Trading System, MEPs have traded recriminations. However, those claiming that the defeated compromise deal was good for the climate are being disingenuous. Our analysis reveals it would have been catastrophic had it gone through.
Although EU member states are meant to spend at least half of the revenue from the sale of CO2 allowances on climate action, many are using them as subsidies for the installation of new fossil fuel boilers or to reduce energy prices in industry
In an unexpected turn of events in the European Parliament, a watered-down carbon market package was rejected by a majority of MEPs. The review of the EU Emissions Trading System (EU ETS) Directive was referred back to the Environment Committee and will now overlap with Member States finalising their position later this month.
In 2020, Montenegro received widespread praise for being the first Western Balkan country to introduce carbon pricing. Less than a year later, however, the scheme’s shortcomings were exposed. What can other Western Balkan countries learn from this experience?
Rather than the unseemly compromises now on the table, MEPs have the mission, if they choose to accept it, of raising the ambition of the…
Despite some progress and a number of hardwon victories for the climate, MEPs on the European Parliament’s environment committee failed to raise the ambition of the EU’s Emissions Trading System (EU ETS) to a level that would avoid catastrophic temperature rises.
If the European Union does not significantly strengthen its reformed flagship Emissions Trading System (EU ETS), it risks fuelling planetary heating that will exceed 1.5°C and even missing its own inadequate targets, two simulations show. The EU ETS must significantly raise its 2030 targets, lower its emissions faster than planned, and remove surplus allowances from the market.
An online workshop organized by ZERO looked into the factors influencing the evolution and volatility of the EU ETS carbon price, against the backdrop of…
Designing a sound EU carbon market for buildings and transport
An online workshop organised by ZERO explored the intricacies of the proposed EU Emissions Trading System (ETS) for buildings and road transport. This so-called ETS2…
