News

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.

Europe’s carbon market and national scheme for heating and transport brought Germany a record 13.2 billion euros in 2022, the Federal Environment Agency (UBA) said on Tuesday.

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.

EU member states and parliamentarians on Sunday reached a political deal to reform the bloc's carbon market, the key policy of its ambitions to cut emissions and invest in climate-friendly technologies.

The New Zealand government raised the country's 2023 Emissions Trading Scheme (ETS) carbon allowance price and volume settings on December 15 to levels significantly below those advised by its national climate body.

Bursa Malaysia launched the country’s first voluntary carbon market (VCM) on December 9, with the first carbon credit auction to take place next March.

Criticisms raised by a whistleblower who described Australia’s carbon credit system a fraud that is hurting the environment and wasted more than $1bn in taxpayer funding have been supported in a new report commissioned by the Albanese government.

Australia’s carbon trading market has been booming over the past week with traded volumes leaping more than 50%, as big corporates race to secure offsets ahead of Labor’s pending industrial emissions reforms.

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.

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.