Tagged Posts for Carbon
EU Council Proposes Delay to EU ETS2, Use of Carbon Credits for 2040 Targets
After a lengthy night of negotiations, climate and environment ministers from European Union member states agreed on the bloc's 2040 climate targets, though with certain flexibilities that include delaying the EU ETS2 carbon market for upstream emissions and allowing the use of international carbon credits to meet domestic targets. Read More
Romanian Power Plants Avoided €1.16 Billion in Carbon Payments, Penalties
Two publicly-owned Romanian power plants broke European Union law by avoiding carbon payments and penalties, which now stand at more than €1.16 billion ($1.36 billion), OPIS has learned. Read More
EU Commission Failing to Enforce EU ETS Non-Compliance Penalties, FoIs Show
The European Commission is not actively attempting to enforce European Union rules designed to penalize carbon-emitting installation operators who don't pay for their emissions, responses to Freedom of Information (FoI) requests filed by OPIS suggest. Read More
SIEW 2025: Tuas Power’s Steam Generation Plant to Run on 100% Biomass
Tuas Power’s plan to convert its steam generation plant, Singapore’s largest, to run on 100% renewable biomass by 2028 exemplifies a collective effort crucial for the country’s energy transition, said speakers on a panel during Singapore International Energy Week on Thursday. Read More
REDD+ Is Struggling but Alive
Nearly two years after a major reckoning of forest conservation projects in the voluntary carbon market, developers have managed to stay afloat and some buyers continue to retire credits. But the outlook for REDD+ is uncertain. Read More
Europe’s Carbon Lessons Offer Roadmap for Asia’s Emerging Markets: Panel
As global carbon markets mature, the divide between Europe’s rigorous decarbonization drive and Asia Pacific’s more pragmatic approach is narrowing, with panelists at the Singapore Carbon Market & Investor Forum on Thursday agreeing that cross-regional learning -- not uniform policy -- will shape the next phase of climate action. Read More
EPA Interference With ODS Project Could Be Pragmatic, Not Political: Sources
The U.S. Environmental Protection Agency's reasons for halting a voluntary carbon market project's activity this summer may be due to future supply concerns, sources told OPIS Tuesday. Read More
Romanian Power Plants Avoided €1.16 Billion in Carbon Payments, Penalties
Two publicly-owned Romanian power plants broke European Union law by avoiding carbon payments and penalties, which now stand at more than €1.16 billion ($1.36 billion), OPIS has learned. Read More
Support of LCFS Programs Remains Mixed in Midwestern States: Panel
CHICAGO – Support for state-level low-carbon fuel programs remains mixed in the Midwest, especially with concerns around the allowance of higher ethanol blends and the need for 'technology and feedstock neutrality,' panelists said Wednesday at the 17th Annual OPIS RFS, RINs & Biofuels Forum. Read More
China Pledges to Cut GHG Emissions by 7%-10% Below Peak Levels in 10 Years
China, the world’s largest emitter of greenhouse gases by total volume , has pledged to cut its emissions by 7% to 10% below peak levels by 2035, a target that market sources describe as "moderate." Read More
Singapore Contracts 2.2 Million mt of Paris-Aligned Nature-Based Carbon Projects
Singapore has awarded contracts for 2.175 million metric tons (mt) of Paris Agreement-aligned nature-based carbon credits, valued at about S$76 million ($59 million), from four Global South projects to be delivered between 2026 and 2030, according to a government release Tuesday. Read More
Frontier Signs $31.3 Million Deal to Buy Marine CDR Credits from Planetary
The Frontier carbon dioxide removal buyers club will purchase 115,211 credits from Planetary, which mitigates emissions via ocean alkalinity enhancement, for $31.3 million. Read More
China to Further Expand ETS Coverage by 2027, Shift to Cap and Trade by 2030
The Chinese government is eyeing a further expansion of the national emission trading scheme or ETS to more sectors by 2027 and a transition into a cap-and-trade system with paid and free allocations by 2030, according to a directive released on Aug. 25. Read More
Russian-Owned Hungarian Plant Avoided €655 Million in Carbon Payments and Fines
A power plant supplying electricity to ISD Dunaferr, Hungary's largest steelworks, broke European Union law for five consecutive years by avoiding more than €655 million ($761 million) in carbon payments and penalties, OPIS has learned. Read More
Iowa Commission Hears Landowners’ Concerns About Summit Pipeline Plan
Approximately 40 landowners who could be impacted by Summit Carbon Solutions' proposed carbon capture pipeline project on Wednesday attended the first Iowa Utilities Commission monthly meeting in two years, according to the state chapter of the Sierra Club. Read More
ACS 2025: Voluntary-Compliance Divide Narrows, but Barriers Remain
Voluntary and compliance carbon markets are showing signs of convergence, but policy gaps, energy constraints and fragmented rules still hinder broader uptake, said government and private-sector representatives at a panel on Thursday during the Asia Climate Summit in Bangkok. Read More
ACS 2025: Timing, Risks Key Hurdles for CORSIA Compliance
Airlines are facing a growing disconnect between the timing of eligible carbon credit availability and their obligations under CORSIA, panelists said Wednesday at the Asia Climate Summit in Bangkok. Read More
Vietnam to Allow 30% Offset Use in ETS Pilot starting 2025
Vietnam will pilot its national emissions trading scheme from 2025 to 2027, allowing covered entities to use carbon offsets for up to 30% of their compliance obligations, according to a government decree released Monday. Read More
EU and UK Will Work to Link Carbon Markets as Part of Post-Brexit Reset
British and European Union officials announced on Monday that they will work towards linking their respective carbon markets following a U.K.-EU political summit aiming to boost post-Brexit trade and policy cooperation. Read More
Embattled Liberty Steel Failed to Pay for Carbon Emitted by Czech Plant
Liberty Steel has not fulfilled its legal obligation to surrender carbon allowances to pay for the carbon emitted in 2023 at its Liberty Ostrava steel plant in the Czech Republic, even though the operator was handed free allowances that far exceeded its emissions, OPIS has learned. Read More
House Tax Draft Includes Extension, Alteration of 45Z Tax Credit
The budgetary package that House Republicans are hoping to pass before Memorial Day includes significant alterations to a tax credit scheme that rewards producers of renewable fuels, according to a version of the bill released on Monday. Read More
Vietnam to Route Carbon Trading Via Securities Firms Ahead of Market Launch
Vietnam will require the trading of emission quotas and carbon credits in its domestic carbon market to be conducted via designated securities firms through the Hanoi Stock Exchange, according to a notice released Tuesday by the Ministry of Natural Resources and Environment. Read More
Maryland and Massachusetts Postpone Zero- Emission Mandate for Trucks
Massachusetts and Maryland -- two of the 10 states that passed California's Advanced Clean Truck Rule -- have delayed enforcement of the stringent emissions targets. The rule requires manufacturers of on-road medium- and heavy-duty vehicles to produce and sell an increasing percentage of zero-emission vehicles from model years 2025 through 2035. Read More
Newsom, Legislature Prioritizing Calif. Cap-and-Trade Program Extension
California Gov. Gavin Newsom announced Tuesday he along with Senate President pro Tempore Mike McGuire and Assembly Speaker Robert Rivas would work together to extend the state's Cap-and Trade Program this legislative year. Read More
Carbon Markets Mixed Monday Amid Energy Executive Order Uncertainty
California Carbon Allowance secondary market prices stumbled Monday morning, sinking further following President Trump's executive order last week targeting state-level emissions reduction efforts. Meanwhile, Regional Greenhouse Gas Initiative prices were up slightly, and Washington Carbon Allowances weakened based on lower offers. Read More
Germany’s Bundestag Votes to Cement 2045 Net Zero Goal in Constitution
The Bundestag, the lower house of Germany's parliament, has agreed to enshrine reaching net zero carbon emissions by 2045 in the country's constitution after a two-thirds majority voted in favor of spending reforms that mark a break with its longstanding fiscal conservatism. Read More
Singapore’s First Article 6 Carbon Credit Tender Draws $223 Million Top Bid
Global commodities trader Trafigura has emerged as the highest bidder in Singapore's first public tender for Article 6-aligned nature-based carbon credits, offering S$299.19 million ($223 million) for an undisclosed volume, as the city-state seeks to complement domestic climate action with international offsets. Read More
Group Sues Apple Over Use of REDD+, ARR Credits in Carbon Neutral Marketing
Apple misled consumers and engaged in greenwashing when it promoted its 2023 watch lineup as carbon neutral, plaintiffs alleged in a class-action suit filed in US District Court Wednesday. Read More
Paraguay Law Could Deliver Millions of Credits to Paris Agreement Market
Paraguayan President Santiago Peña signed a law on Tuesday that will bring all carbon projects in the country under one registry and manage their interplay between voluntary and Paris Agreement markets. Read More
Largest EU Parliament Party: CBAM ‘Should’ Be on Hold for 2 Years
The leaders of the European People's Party (EPP), the party with the most representatives in the European Union Parliament—the EU's legislative body—with 188 out of a total 720 seats, said the carbon border tariff that importers are expected to start paying next year "should be put on hold for at least two years." Following the EPP's leaders' retreat in Berlin over the weekend under EPP President Manfred Weber, the party published a three-page brief criticizing regulatory burdens and obligations for companies in Europe that are stymying economic growth and investment. Read More
Singapore Seeks Nature-Based Carbon Credits in Landmark Article 6 Tender
Singapore's first public tender for carbon credits, seeking at least 0.5 million metric tons (mt) of credits from high-quality nature-based projects, positions the city-state as an early mover in government-led Article 6 transactions under the Paris Agreement, potentially setting a benchmark for the nascent global market, sources said. Read More