The EC has just published a more detailed proposal regarding the ETS2 changes it intends to do h/t to @annahbrt.bsky.social. On the frontloading the proposal is just ridiculous with "up to €6bn expected to be frontload in years 2026-2027". Let me explain why:
climate.ec.europa.eu/news-other-r...
EU Commission is expected to put forward its legislative proposal for a 2040 climate target ahead of a meeting of EU27 environment ministers on June 17, EU sources said on Friday.
* 90% target confirmed
* "Flexibilities" all on the table, including Article 6 credits use for the 90% goal
More:
🚨Global shipping strikes historic deal on ambitious carbon pricing system
Deal at IMO today for two-tier tax
* 63 countries in favour: EU, China, India, Japan, Brazil
* 16 against: Saudi A., UAE, Russia, Venezuela
* 25 abstained: Pacific island states, Argentina
👉https://carbon-pulse.com/387008/
German coalition deal paves way for EU’s 2040 climate target plan
* Support for 90% target at EU level
* 3% points max for Article 6 credits
* High quality permanent CO2 removals included
👉 carbon-pulse.com/386319/
Decision on Europe’s 2035 NDC unlikely before July, EU presidency says
* Talks at working group level, "but no big progress,” says Polish state sec. Krzysztof Bolesta
* No agenda points foreseen under EU Polish presidency due to stalemate on 2040 target
* Options open
👉 carbon-pulse.com/385706/
EU carbon market won’t survive if it causes factory closures, industrialists warn
"At one point, we might see U-turns in political decisions, with some countries or the European Parliament ... deciding to scrap the ETS completely,” said Pascal Siegwart from TotalEnergies
👉 carbon-pulse.com/384596/
EU’s 2040 target still due by end of March, followed by NDC in Q2
The EU Commission denied that its 2040 target plan could be delayed into Q2, rectifying statements from its Vice President Teresa Ribera who suggested in an interview that the initiative would be postponed.
carbon-pulse.com/380741/
About that €800bn EU defence fund just announced
€650bn of that - over 80% - is assuming Member States spend 1.5% of GDP more on defence over the next 4 years.*
This is based on the (already announced) relaxation of the EU rules on budget deficits.
But were fiscal rules ever the problem? (1/🧵)
'We have to urgently rearm Europe,' EU's von der Leyen says
The Commission will propose a plan on this at the European Council on 6 March, as she says “we really have to step up massively".
www.theguardian.com/world/live/2...
UPDATE – EU Commission unveils Clean Industrial Deal, doubles down on climate carbon-pulse.com/372671/
UPDATE – EU Commission proposes delaying corporate climate reporting rules by two years carbon-pulse.com/372763/
EU proposes to exempt small importers from CBAM, delay sale of certificates by one year carbon-pulse.com/372795/
UPDATE – Brussels announces ETS-backed ‘Industrial Decarbonisation Bank’ worth €100 bln carbon-pulse.com/372692/
« L’UE a été conçue pour emmerder les Etats-Unis. C’était l’objectif et ils y sont parvenus. Mais désormais je suis le président », a lancé M. Trump.
www.lemonde.fr/internationa...
‘For the first time in 40 years, emissions are going down because we’re shutting factories’: EU chemicals industry sounds alarm carbon-pulse.com/372202/
⚠️The European Commission's Clean Industrial Deal initiative, due on Wednesday, lacks “game-changing” measures to reduce energy prices, such as a reform of the marginal pricing system for electricity, say EU steelmakers and trade unions.
👉 carbon-pulse.com/371862/
📍German election frontrunner Friedrich Merz will stick to the country's climate neutrality goal if he wins on Sunday.
But he also has his own approach to topics such as coal exit, nuclear, and ETS2 that could reverberate across Europe.
More here (€): carbon-pulse.com/371677/
LEAK: Clean Industrial Deal looks to support energy-intensives in decarbonisation
By Rebecca Gualandi. carbon-pulse.com/370121/
✅ EU’s 2040 climate target plan back on the agenda for Q1
After facing an extended delay until the summer due to political headwinds, the Commission's proposal for a 2040 climate target is finally back on the agenda for publication in Q1
More: carbon-pulse.com/368221/
EU centre-right divide deepens amid “violent” talks on ETS2 and CBAM
EPP also heavily divided on EU's upcoming 2040 climate target, report Emmanuela Barbiroglio and Rebecca Gualandi.
More: 👉 carbon-pulse.com/362687/
That is also good news for climate
Full EPP statement: www.epp.eu/files/upload...
And my story for Carbon Pulse (€): carbon-pulse.com/360357/
6/6
So the EPP statement should be seen as an attempt to raise political pressure on von der Leyen as she prepares her "omnibus" proposal for Feb.26.
My take: little to no chance of happening.
5/6
In fact, Commission President Ursula von der Leyen reiterated on Tuesday that "Europe will stay the course" on climate while making plans to simplify rules for EU businesses.
Besides, the European Parliament is likely to oppose those changes.
4/6
So how much of this is actually going to materialise?
While the European Commission is indeed working on an "omnibus" proposal to simplify corporate reporting rules, due on Feb.26, it has so far never suggested suspending those or delaying #CBAM.
3/6
In a statement adopted over the weekend, the EPP is pushing for a 2-year suspension of:
- Corporate Sustainability Reporting Directive (CSRD)
- Corporate Sustainability Due Diligence Directive (CSDDD)
- Green Taxonomy Regulation
- Carbon Border Adjustment Mechanism (CBAM)
2/6
Europe's largest political party, the EPP, is pushing for a two-year suspension of several EU Green Deal laws, which it says "are proving to be excessive and burdensome" on EU businesses.
But will it get its way?
Quick thread🧵:
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