EU Mandates 90% Emissions Reduction Target by 2040
The EU agrees to a binding 90% emissions cut by 2040; it includes carbon credits and an ETS delay.
China to Introduce Absolute Emissions Caps for Carbon Market from 2027
The Chinese government has announced that it will introduce absolute emissions caps for some industries by 2027.
Surat’s pollution market cuts 30% particulate emissions in the city
Surat’s pollution market, a first-of-its-kind Emissions Trading Scheme (ETS) for particulate matter, has led to a 20-30 per cent reduction in particulate emissions in the city. A study, co-authored by Yale university economists Rohini Pande, Nicholas Ryan, and others and published in the Quarterly Journal of Economics, found that the unique cap-and-trade market for particulate pollution
EU ETS Emissions Drop Around 50% Below 2005 Levels
The EU ETS has successfully reduced emissions in covered sectors by around 50% since 2005, with the power sector being a key driver, and is on track to achieve the 2030 target of -62%
Fairness Concerns Cloud EU’s CBAM
CBAM, currently affecting only 1.64 percent of India’s total exports, is an additional tax burden and trade barrier
Global Carbon Pricing Revenues Top $100 Billion
75 global carbon pricing instruments operate, with over half of collected revenue used to fund climate and nature-related programs
