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The structure of the European Union’s 15-year-old carbon trading market is long overdue for an update if it is to keep pace with growing national ambitions to halt climate-destroying activity and geopolitical shifts
BREXIT BLUES The UK has been a world leader in free-trade solutions to the climate crisis, making its departure from the EU a big blow to the trading bloc’s ability to keep its carbon reduction efforts on an affordable track
CHINA CONFIDENCE Announcement by China of its goal to achieve net-zero emissions by 2060 boosted confidence in the willingness of big Asian economies to participate in global climate-cooperation, such as the carbon market favoured by the EU
BLOCKCHAIN BOOST Introduction of IT ledger technology could help oil the wheels of cross-border emissions trading between the EU and the rest of the world, as well as trade in cleaner energy-intensive goods
KEY QUOTE International cooperation matters because a global solution is the only way of tackling all the pollution that is harming the climate
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Border carbon adjustments (BCAs) are technically difficult to design and politically challenging to implement. If BCAs are going to succeed, the European Union (EU) will need to engage trade partners from the start, says E3G’s Johanna Lehne
Europe is considering taking the bold step of introducing a border carbon adjustment tariff on goods imported from regions where carbon pricing is lacking, placing trade right in the middle of its climate ambitions
Recent Eurelectric analysis reveals the need to reconsider and improve a number of policies and priorities as part of the European Green Deal — the EU Emissions Trading System and an effective carbon pricing for non-ETS require careful consideration, says Petar Georgiev, Eurelectric Policy Advisor climate & e-mobility
The mining and cement industries contribute over 10% of the world’s CO₂ emissions but demand in both industries remains high. It is, therefore, imperative that decarbonisation efforts should be accelerated, argues Thomas Schulz, CEO of engineering firm FLSmidth
A finance mechanism that retires coal power stations and replaces them with new renewable energy capacity is gathering steam in the United States. But challenges remain in making this seemingly simple solution mainstream
An ambitious tax on carbon emissions globally and the reinvestment of carbon revenues in energy efficiency could be game changers for the energy transition even if most countries still remain reluctant to entertain such ideas
The European Commission’s plan to increase the emissions reduction target to 55% lacks ambition and would miss out on additional benefits that a higher goal would present, argues WWF’s Imke Lübbeke
To create demand for sustainable finance, governments should integrate climate criteria into their procurement and in how they draft policies and regulations
The fiscal response to the Covid-19 crisis is an opportunity to establish a green economy but finance ministers across the globe need to coordinate their actions for the biggest impact, says Dileimy Orozco from E3G
An EU taxonomy to define green investments is expected to enter into force in 2021, but some experts want it to be used immediately to inform stimulus packages aimed at dealing with the social and economic fallout from the Covid-19 pandemic
A recent World Bank study reveals global carbon revenues are rising sharply, but only around 42% are used for environmental projects. It shows European and American citizens prefer their governments to spend carbon revenues on low-carbon initiatives, so why is political will lagging behind asks Susanne Dyrbøl from Rockwool Group
