Tom Coessens’ Post

Dear network, 🚨 Deadline Approaching for EU ETS 2 Compliance! Action Required for Fuel Traders! ⚠️ The January 2025 deadline is swiftly approaching, and it brings significant compliance obligations for EU fuel traders under the new EU ETS 2. This expanded carbon pricing system will encompass emissions from buildings and road transport, demanding immediate action from fuel suppliers: Secure a Greenhouse Gas Emission Permit Develop a GHG Emissions Monitoring Plan Conduct Annual Reporting and Verification As the Walloon and Flemish Governments prepare to adopt ETS2 implementing rules, early engagement and strategic planning are crucial. 💡 Need guidance? #PwCBelgium’s experts, Tom Wallyn, Caroline Schmidt, Lorenzo Costa, and Nicolas Gosselin, are here to navigate you through these new developments! Find out more on our webpage: https://lnkd.in/dA2AAxAN #GreenDeal #EUETS2 #Sustainability #PwC #carbonpricing

EU Commission talks again of integrating carbon offsets into the EU ETS once its cap reaches zero in 2040, allegedly for residual emissions from sectors that can't fully decarbonise, and in order to create demand, price signal and mitigation incentives. Such an integration would make carbon offsets a compliance market, which is problematic given their major environmental integrity issues, but a massive present for polluters and speculators; an integration earlier than 2040 would also likely have a deterring effect on mitigation efforts. I sadly fear that such an integration will take place way earlier than 2040, for the same reasons we still have a massive surplus in the EU ETS and free allowances, because short term growth and competitiveness trump everything else. https://lnkd.in/ekhQuUDD

Permanent carbon removals are needed to complement deep and rapid emission reductions - but is it a good idea to integrate them into the EU Emissions Trading System (EU ETS)? Only if European policymakers can master a careful balancing act of trade-offs within the system and introduce a suite of supporting policies. A new report by CONCITO and Clean Air Task Force (CATF) examines four policy options to integrate permanent carbon removals into the EU ETS - highlighting the benefits and risks of each. The main findings and key recommendations can be found in the graphic below ⬇️ You can also read the report here: https://lnkd.in/dWhcnXJc We highlight that a final decision on regulating permanent carbon removals will require further analysis. The report is part of a collaborative project between CONCITO and CATF on new frontiers of emissions trading in the EU. #EUClimatePolicy #EUETS #carbonremovals #dkgreen

EU allowances (EUAs) act as permits that grant businesses the right to emit a specific quantity of greenhouse gases under the European Union emissions trading system (EU ETS). Crucial for driving emissions reductions, the diminishing availability of EU allowances annually incentivizes companies to mitigate emissions and foster innovation in cleaner technologies, aligning with the EU's ambitious climate objectives. Companies can manage their carbon budgets through purchasing at auctions, trading in a secondary market, or by receiving free allocations. As a strategic partner, we guide clients in maximizing EU ETS compliance and optimizing emissions trading through advanced strategies in EU allowances management and carbon reduction. Contact Targray’s Environmental Commodities team for tailored solutions and custom insights at https://lnkd.in/e7DeFFaD https://lnkd.in/dQzn4_Uk

**Rising Value of EU ETS Allowances: Opportunity or Challenge?** As the European Union intensifies its efforts to curb greenhouse gas emissions, EU Emission Trading System (EU ETS) allowances have evolved from being a mere environmental tool to significant financial assets. The drastic increase in the price of carbon credits—from €5-7 per ton in 2017 to approximately €90 today—highlights their growing economic importance. This surge reflects the heightened demand and acknowledges the critical role of carbon credits in achieving sustainability goals. The legal landscape surrounding EU ETS allowances is becoming increasingly complex, especially in countries like France. These allowances, while valuable, require robust legal frameworks to manage their financial and environmental implications effectively. It is essential for businesses and stakeholders to stay informed about these developments to navigate potential challenges and leverage new opportunities. What are your thoughts on the rising value of carbon credits? Do they pose more of a challenge or an opportunity for businesses aiming for sustainability? #EUETS #CarbonCredits #Sustainability #GreenFinance #ClimateChange #LegalInsights

🌍 Ocean Network Express (ONE) Responds to EU Emissions Regulations Starting October 1, 2024, ONE will implement an Emissions Trading System (ETS) surcharge, following the EU’s push to reduce greenhouse gas emissions in the maritime sector. With shipping responsible for a significant 15% rise in emissions over the last decade, this move aims to make a meaningful impact. ONE's approach includes quarterly ETS tariff updates, a new Eco Calculator to help clients make eco-friendly choices, and their first carbon allowance transaction to support compliance. Sustainability in shipping is not just a regulation - it's an opportunity for transformation. 🌱 #SustainableShipping #EUETS #CarbonReduction #MaritimeIndustry #EcoInnovation Read the article (https://lnkd.in/ewa_wwh9)

New EU emission task force looks to boost global CO2 trading, but not without controversy. The European Union's Emissions Trading System (ETS), valued at EUR 751bn in 2023, is the world's largest carbon market 🌍 The EU's climate policy chief Wopke Hoekstra has now announced the European Commission will be launching a task force, deploying staff to support the establishment of carbon markets globally aiming to boost the global trade of CO2 emissions. The EU's plan to extend its carbon pricing policies internationally has stirred some controversy, including the imposition of a world-first carbon levy on imports from 2026. However, Brussels asserts that imports from countries with comparable carbon pricing policies can offset obligations under the levy, fostering fair competition with local industries. To make this truly global will necessitate global cooperation to develop universally accepted accounting frameworks that can effectively track emissions embedded in products and services. As such, the taskforce will have much work ahead of itself. Read more on ETS here: https://lnkd.in/eMAQ2jCt #ClimateAction #CarbonMarkets #EUInitiative #ETS

As a new EU ETS system is shaping up to encompass emissions from #roadtransport and #buildings notably, new questions arise as how it will impact carbon price and affect those sectors. Stefan Feuchtinger answered Carbon Pulse's questions on #EUets2. READ MORE: https://lnkd.in/efnHt4fp

Did you know that in addition to EU ETS, FuelEU and CBAM, the EU recommends a 90% net greenhouse gas emissions reduction by 2040 compared to 1990 levels, and stronger support for CCUS: https://lnkd.in/dnNyMNcT Global and regional policies serve as important bootstraps and "sticks". Whilst C3 helps create the missing "carrots" by unlocking and capturing the value of emission reductions: https://carbon3.net

Amid all the ruckus in the EU regarding carbon removals, the UK just launched a public consultation on the integration of GHG removals (GGRs) in the UK ETS. From a brief outlook on the public consultation, it seems the integration of removals in the UK ETS would be complementary to existing decarbonisation efforts, i.e. (only) offsetting residual emissions from hard-to-abate sectors. #CarbonMarket #CarbonRemovals #ETS #UKETS #ClimateAction https://lnkd.in/dnTB7URa