NEWS

EU to Establish Carbon Ivy for International Trading

14/02/2024

The EU announced that it is concentrating efforts and sending out expert staff to assist other countries outside the bloc in opening carbon markets similar to the EU ETS or, at the least, somewhat different. This comes in line with EU’s vision to facilitate international trade of CO2 emissions, which is not yet accessible due to differences in pricing, structure and industries involved markets like Chine, California, and the UK.

Countries are just beginning to adjust to the Carbon Border Adjustment Mechanism (CBAM). However, starting from 2026, imports of goods like steel and cement from nations with comparable carbon market policies to the ETS will benefit from reduced pricing for the first time.