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European governments will auction 244 million EU carbon permits from January to August next year under the bloc's ETS, the European Commission announced on November 16.

In 2022, the carbon credit trading platform market was worth around USD 103 million, and it is projected to advance at a 21.20% CAGR from 2022 to 2030, hitting USD 479 million by 2030, according to P&S Intelligence.

The European Parliament approved on April 18 as many as three pieces of legislation from its landmark Fit for 55 package, which aims to reduce greenhouse gas emissions by 55% by 2030.

Analysts have revised up their average price forecasts for EU carbon permits for the next three years in anticipation of improving economies in Europe as energy prices fall from record highs.

The European Parliament’s environment committee may vote on key reforms of the EU ETS in February, with a parliamentary vote due in March, MEP Pieter Liese said on Thursday.

Europe’s carbon market and national scheme for heating and transport brought Germany a record 13.2 billion euros in 2022, the Federal Environment Agency (UBA) said on Tuesday.

EU member states and parliamentarians on Sunday reached a political deal to reform the bloc's carbon market, the key policy of its ambitions to cut emissions and invest in climate-friendly technologies.

The European Parliament on Wednesday endorsed the long-anticipated carbon market reforms, easing worries that Europe’s climate actions might be delayed after legislators rejected the proposals in a first vote earlier this month.