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ENERGY NEWS
EU court overturns carbon market free quotas
by Staff Writers
Brussels (AFP) April 28, 2016


The EU's top court on Thursday overturned free quotas for the bloc's carbon market up to 2030, a key part of strategies to curb global warming emissions.

The European Commission in Brussels was given ten months to draw up new figures by the Luxembourg-based Euyropean Court of Justice.

The ruling came in a case brought by a number of companies including Esso and Dow against national authorities in Italy, the Netherlands and Austria.

"The court declares invalid the maximum annual amount of free allowances for greenhouse gas emissions determined by the Commission for the period 2013-2020," the court said in a statement.

The court said the European Commission, the executive arm of the 28-nation EU that sets the quotas, had used figures given by some countries that should not have been included.

The EU's Emissions Trading System (ETS), the world's largest, puts a cap on carbon dioxide emitted by large factories and other companies.

The firms can trade in quotas of these emissions -- the idea being to provide a carrot to improve energy efficiency or switch to cleaner sources so that they keep within the ceiling.

A large part of the quotas are free, partly to help European companies against international competitors.


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Washington (AFP) April 21, 2016
Six world leaders and the heads of powerful multilateral organizations agreed Thursday to push for broader implementation of carbon pricing schemes to accelerate the fight against global warming. The leaders of Canada, Germany, France, Mexico, Ethiopia and Chile, along with the IMF, World Bank, and OECD, pressed for the use of carbon pricing to cover 25 percent of global emissions within fou ... read more


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