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emissions trading

What do the recession and energy efficiency have in common?

Both are making EU policy makers think twice about releasing the planned volumes of emissions allowances within the EU Emissions Trading Scheme (EU ETS).

The European Commission’s 2050 Low Carbon Roadmap raised the possibility of ‘setting-aside’ a number of EU Allowances, the permits that are required by heavy polluters in the EU ETS. 

Government plans: carbon price floor or carbon price flaw?

In the recently published White Paper on Electricity Market Reform, UK Energy Secretary Chris Huhne unveiled a package of measures designed to encourage the investment needed to ensure secure, low carbon energy for the UK.

One of the five key policies outlined in the document was the introduction of a carbon price floor from 1st April 2013. 

Unconditional 30% emissions reduction move blocked by MEPs

Europe was poised this week to poised to make world-leading, unconditional emissions target reductions of 30% compared to 1990 levels (up from the existing 20% target). Yet the European Parliament this week voted only to pass through an amended report, one with numerous compromises on initially ambitious aims.

Global cap and trade progress

A new World Bank initiative, Partnership for Market Readiness (PMR), could see some less economically developed countries launch market-based controls for greenhouse gas emissions (GHG) sooner than expected. 

In the large western economies, however, progress with emissions trading schemes (ETS) has been slow. Largely as a result of lack of government consensus and intense industry lobbying . 

ETS airline trade war

At the recent International Air Transport Association (IATA) conference in Singapore tension flared between the EU and world airlines over the extension of the EU emissions trading scheme to include aviation from 1 January 2012.

EU ETS Phase III: the new rules of the game

The EU ETS will soon go through a second round of changes. Initial improvements were made at the start of Phase II of the scheme, which started in 2008. With the third phase due to start in 2013, the EU has taken the opportunity to introduce some new rules of the game.

Australia launches plans for emissions trading

In February 2011 Australia launched its third attempt to force intense polluters pay for their emissions, introducing plans for a fixed carbon price from 2012 through the Carbon Pollution Reduction Scheme (CPRS).

Prime Minister Julia Gillard said that polluters will pay a yet-to-be determined fixed price from July 2012 and the system will move to be market-based within five years. 

Government make 1bn euros from auctioning EUAs

To download this report click here.

Between 19 November 2008 and 10 February 2011 the UK Government has auctioned over 77m EU Allowances. The revenue generated from auctioning these allowances is over the €1bn and projections show that this revenue is due to increase significantly, reaching up to €64bn by 2020. At the moment this money goes straight to the Treasury.

Project-based offsets from industrial gasses banned from EU ETS

The EU Climate Change Committee comprised by representatives from all 27 member states has voted resolutely for the ban of credits originating from the destruction of HFC-23 and nitrous oxide (N2O) for use in the EU Emissions Trading Scheme (ETS).

Credits originating from projects relating to these gasses have long been of questionable environmental integrity and their ban by the EU demonstrates the readiness to safeguard the effectiveness of the EU ETS.

Carbon high club

Aircraft are responsible for 3% of global CO2 emissions. In the absence of stern regulation, CO2 emissions by airline carriers have doubled since 1990 and are forecast to double again by 2020.

There is an urgent need for reductions in this sector, but the International Civil Aviation Organisation has failed to get agreement for a global Emissions Trading Scheme for air transport. As a consequence, the EU has been working independently on a solution.

Aviation joins EU ETS


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