1/ #EUETS #carbon reform gets through Parliament. Now Council‘s 27 members have to reach their views. They tend to sail much closer to the law. And then it goes to Trilogue discussions. So whilst Parliament’s view is important, it is not final. Summary of Parliament view
#octt
#octt
2/
- 2030 target slightly tighter: c64% instead of EU’s original 61% proposal
- One-off reductions of 70mt in 2024 and 50mt in 2026
- CBAM kicks in 2027 ramping up fully 2032 (prior 2034) with corresponding reduction in free allowances
- Market access getting Commission to -> 3/
- 2030 target slightly tighter: c64% instead of EU’s original 61% proposal
- One-off reductions of 70mt in 2024 and 50mt in 2026
- CBAM kicks in 2027 ramping up fully 2032 (prior 2034) with corresponding reduction in free allowances
- Market access getting Commission to -> 3/
3/
produce a report in July 2023 assessing impact of restricting access to physical allowances. Frankly, this just shows a massive naivety: the vast majority of speculative elements happens in the options/derivatives market
->
produce a report in July 2023 assessing impact of restricting access to physical allowances. Frankly, this just shows a massive naivety: the vast majority of speculative elements happens in the options/derivatives market
->
4/4
- Article 29a: 100m would be fed into the mkt (over 6m) where price is > last 2y (from 3y) avg as well as allow member states to bring fwd future auctions
- Article 29a: 100m would be fed into the mkt (over 6m) where price is > last 2y (from 3y) avg as well as allow member states to bring fwd future auctions
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