News

China's carbon price has surpassed 100 yuan for the first time since the market's launch in mid-2021, as major polluters ramp up purchases ahead of the implementation of stricter standards.

A forum titled “Carbon Levy and Sustainable Governance” took place on Feb. 20 in Taipei to facilitate exchanges among industry, government, academia, and research institutes on the topic of carbon pricing.

Analysts have cut price forecasts for European Union carbon permits for 2024 to 2026, predicting that weak demand from power plants and sluggish industrial demand will impact the market.

On Friday, Germany approved the plan to raise the price on carbon dioxide emissions by more than agreed on previously on Dec. 15. The country currently has a levy on CO2 emissions from fuel of 30 euros per ton of CO2.

COP28 has officially concluded. While the global carbon price is not set to be standardized, the concept of "carbon pricing" has begun to ferment. Governments and large corporations alike have established carbon pricing mechanisms.

The IMF is keen to see the price of carbon increase to give the "biggest possible incentive for decarbonization.” “That price needs to go up, up, up if we are to speed up decarbonization", said its Managing Director Kristalina Georgieva at COP28.

In line with measures announced by the EU, the UK also plans to implement a carbon border tax starting from 2026.

Retreated from carbon trading for over a decade, Barclays Plc is trying to come back to market and appointed a veteran of Shell Plc, Oliver Morning, to run the operations, according to Bloomberg report.

The Tokyo Stock Exchange began trading carbon credits, a key element in the world's fifth-largest CO2 emitter Japan's strategy to address climate change.

Indonesia launched its first carbon emissions trading market to curb the climate impact of its coal-dominated power sector.