The EU Commission proposes lowering the ETS Market Stability Reserve intake rate to 12% after 2030, down from 24%, and allowing international carbon offset credits for 2% of ETS sector emissions reductions.

The EU plans a slower pace of emissions cuts in its carbon market.

The post reports that European companies are divided over the upcoming revision of the EU Emissions Trading Scheme, with some fearing a weakening and others calling for more support.

European Union plans to extend carbon emission charges to foreign flights and use revenue for clean energy transition.

EU Climate Commissioner Hoekstra announced carbon pricing on all flights arriving within 5000 km of Europe's geographic center.

The European Commission proposes adding 250 million tons of domestic carbon removals to the ETS and advancing 80% of free carbon permits, withholding 20% until decarbonisation investments.

The European Commission proposes lowering the Emissions Trading System linear reduction factor to 3.1% from 2031-2035 and 1.7% from 2036, down from the current 4.3%.

Chinese domestic futures closed mixed overnight, with PTA down over 2%, synthetic rubber up over 1%, and plastic and soybean meal up nearly 1%.

The European Commission will propose next week an unspecified electrification target for 2040 to reduce fossil fuel dependence and boost renewables.

The EU plans to offer industry more flexibility in an upcoming carbon market reform while still requiring clean technology investment.

The European Commission will propose granting 4 billion more free carbon permits to industry to address competitiveness concerns.