Vestas Chief Calls for European Carbon Tax to Spur Renewables

Vestas Chief Calls for European Carbon Tax to Spur Renewables - Bloomberg


Vestas Wind Systems A/S (VWS) Chief Executive Officer Ditlev Engel said the European Union should impose a tax on carbon emissions to spur renewable energy and lower greenhouse gases.  Carbon trading isn’t stimulating the spending on renewable energy needed to cut emissions quickly, Engel said today in a debate on the future of the European Emissions Trading System in Copenhagen. He cited Nobel Prize-winning economist Joseph Stiglitz to justify his call for a tax, which Danish Environment Minister Martin Lidegaard immediately said won’t be possible.

EU Should Mull Expanding CO2 Cap-and-Trade, Poland Says

EU Should Mull Expanding CO2 Cap-and-Trade, Poland Says - Bloomberg


The EU Emissions Trading System (ETS) needs to be fixed, according to a group of institutional investors representing €7.5 trillion ($9.8 trillion) in assets. The Institutional Investors Group on Climate Change (IIGCC) has repeated its call for an increase in the EU’s 2020 greenhouse gas emissions reduction target, and is also calling for a one-off set-aside of EU ETS carbon allowances to address the collapse in demand for allowances as a consequence of the economic downturn.

Investors call for reform of the EU ETS

Environmental Finance | News | Investors call for reform of the EU ETS


The EU Emissions Trading System (ETS) needs to be fixed, according to a group of institutional investors representing €7.5 trillion ($9.8 trillion) in assets. The Institutional Investors Group on Climate Change (IIGCC) has repeated its call for an increase in the EU’s 2020 greenhouse gas emissions reduction target, and is also calling for a one-off set-aside of EU ETS carbon allowances to address the collapse in demand for allowances as a consequence of the economic downturn.

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		Close	+/-
EUA	Dec 2012	7.19	0.31
sCER	Dec 2012	4.04	0.1

Markets

18 Apr 2012 12:32

EUAs find support at 7.30 euros to hit 3-week high

European carbon allowances hit a three-week high of 7.37 euros on Wednesday as traders speculated th…

Markets

18 Apr 2012 11:16

Investors worth 7.5 trillion euros warn EU ETS needs fixing

Investors with 7.5 trillion euros in assets under management have urged European lawmakers to act de…

Policy

18 Apr 2012 09:48

Brazilian states discuss carbon market link

Brazil’s Sao Paulo province and Acre state are negotiating the terms for an offset scheme that would…

Policy

18 Apr 2012 04:13

EU aviation row may threaten global climate talks: U.S.

The U.S. lead negotiator on climate change said Tuesday that the inclusion of global airlines in the…

Policy

18 Apr 2012 10:32

China says to use airline passenger tax to cut CO2

China confirmed late Tuesday it will use revenue from a passenger tax on international flights to cu…

EU ETS

17 Apr 2012 14:00

Poland wants AAUs to count towards EU emission caps: paper

Poland has called for the EU to allow Europe’s biggest emitters to use government-held Kyoto emissio…

EU ETS

17 Apr 2012 18:04

EU carbon rebounds above 7 euros as debt fears ease

European carbon prices climbed back above 7 euros on Tuesday as financial markets were steadier foll…

Latest news

• 18 Apr 12 13:13  UPDATE 1: Camco shares up 38 percent on cash boost 
• 18 Apr 12 12:32  EUAs find support at 7.30 euros to hit 3-week high 
• 18 Apr 12 11:16  Investors worth 7.5 trillion euros warn EU ETS needs fixing 
• 18 Apr 12 10:32  China says to use airline passenger tax to cut CO2 
• 18 Apr 12 09:56  Alberta expands list of eligibile CO2 offsets 
• 18 Apr 12 09:48  Brazilian states discuss carbon market link 
• 18 Apr 12 04:13  EU aviation row may threaten global climate talks: U.S. 
• 18 Apr 12 03:50  EU energy savings law falling far short of target: draft 
• 18 Apr 12 01:01  UK committee warns gov't of import impact on CO2 
• 17 Apr 12 18:25  Italy to introduce carbon tax to fund green energy 
• 17 Apr 12 18:04  EU carbon rebounds above 7 euros as debt fears ease 
• 17 Apr 12 17:55  UK go-ahead for shale gas could hit CO2 goals: green groups 
• 17 Apr 12 14:49  Argentina's takeover of YPF refineries casts doubt on CERs 
• 17 Apr 12 14:00  Poland wants AAUs to count towards EU emission caps: paper 
• 17 Apr 12 12:46  Austria sells 300,000 EUAs for 6.64 euros each 
• 17 Apr 12 11:05  China ups tax on international flights to cut emissions 
• 17 Apr 12 10:41  Australia’s GHG emissions rise 0.6 pct in 2011 
• 17 Apr 12 10:25  Tianjin ETS to cover 60 pct of emissions: report 
• 17 Apr 12 09:43  Firm freezes $1.2 bln coal-gas Australia power plant 
• 16 Apr 12 20:20  U.S. sees 3.2 pct rise in U.N. greenhouse gas inventory 
• 16 Apr 12 18:09  Poland, Namibia enter fray to host Green Climate Fund 
• 16 Apr 12 17:22  Sellers beware under new CO2 trade contract 
• 16 Apr 12 17:14  UPDATE 1: Ireland to fail on EU emission goal: agency 
• 16 Apr 12 16:18  EU carbon trading reform proposal this year: Oettinger 
• 16 Apr 12 15:21  Russia's emissions rise as its economy recovers 

All news

Bunge names new CEO of Climate Change Capital

Alfred Evans, currently chief investment officer for the Bunge Emissions Group, becomes the new CEO of the London-based environmental asset manager, replacing Mark Macleod, CCC’s acting CEO and chief financial officer (CFO). Macleod will continue to act as CFO.