News

Indonesia's efforts to decarbonize the country's power generation sector took a significant step forward on Feb. 22 when the government initiated the first phase of mandatory carbon trading for coal-fired power plants.

The price of permits on the European Union's carbon market reached 100 euros ($106.57) a tonne for the first time on Feb. 17, reflecting the increased costs that factories and power plants must bear when they pollute.

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Analysts have revised up their average price forecasts for EU carbon permits for the next three years in anticipation of improving economies in Europe as energy prices fall from record highs.

The European Parliament’s environment committee may vote on key reforms of the EU ETS in February, with a parliamentary vote due in March, MEP Pieter Liese said on Thursday.

The introduction of carbon pricing in the Philippines could raise around $7 billion in revenues by 2030, according to a report released by the International Monetary Fund (IMF).

China’s national emissions trading scheme (ETS), the world’s largest carbon market covering a seventh of emissions globally, hit 10 billion yuan (US$1.4 billion) in total transactions on Thursday.

The EU Parliament, Council and European Commission have reached an informal agreement on a more responsive price control mechanism under the EU Emissions Trading System (EU ETS), according to a key European Parliament member.

According to a new report from Carbon Tracker, ‘Put a Price on It,’ Japan must replace the current carbon price of $2.6/tonCO2 with a minimum price of at least $30/tonCO2 to prevent gas to coal switching and accelerate energy transition.

Washington state’s estimated revenue from a new carbon credit system for the first five years has increased by $1.6bn, because of rising credit values and plans to auction a portion of future allowances.

EU carbon prices in the EU’s emissions trading system rose to an all-time high above 99 euros a tonne on Aug. 19, due to a cut to auction supply in August and a significant increase in demand.