News

After months of delay, European Union climate ministers agreed on Wednesday to a 2040 climate target that includes flexibilities, weakening the bloc’s 90% emissions reduction goal. The deal also postpones the start of the EU ETS2 to 2028.

Amid threats and tears, nations failed to sign off a ground-breaking deal to curb the sector’s huge appetite for fossil fuels

To ease concerns over potential price surges and volatility in the carbon market, the European Commission has pledged to design additional safeguards for the upcoming Emissions Trading System 2 (ETS 2).

After days of tense negotiations, the Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) voted on Oct. 17 to defer discussions on the Net-Zero Framework (NZF) for one year.

Nations at the International Maritime Organization (IMO) meeting in London are set to vote today to formally adopt the Net-Zero Framework (NZF) to cut shipping emissions, but questions are mounting over policy uncertainty and U.S.-led opposition.

Malaysia unveiled its USD 111 billion budget for 2026 on Oct. 10, which includes plans to introduce a carbon tax next year, initially targeting the steel, cement, and energy sectors.

The U.S. on Friday warned of retaliatory measures against countries that vote in favor of an IMO proposal to cut greenhouse gas emissions from ships.

Taiwan launched its carbon pricing scheme this year. The Ministry of Environment hosted the “2025 Asia Carbon Pricing Forum,” gathering experts to share market developments and cap-and-trade practices in Japan, South Korea, and Indonesia.

The EU ETS “urgently needs to be adjusted” to prevent industry in the union from falling behind global competitors as the momentum of the green transition has slowed, said German steelmaker Thyssenkrupp.

China plans to introduce absolute emissions caps to cover major industrial sectors by 2027, according to a policy document released on 25 August by the State Council and Central Committee of the Communist Party.