Carbon emission trading

The cost of carbon dioxide emissions into the atmosphere is set to be decoupled from gas prices in the European Union, marking a historic shift in the dynamic between the two markets, according to the head of natural resources research for the EMEA region at Goldman Sachs Group Inc.

Shipping and Island Policy Minister Christos Stylianides reiterated Greece's steadfast support for the EU's efforts to modernize the EU legislative framework for maritime safety, during an EU transport ministers meeting held on Tuesday in Luxembourg.

A recent report by the non-profit think tank InfluenceMap has unveiled startling insights into the world's carbon dioxide emissions landscape. According to the Carbon Majors report released on Thursday, a mere 57 fossil fuel and cement producers have been accountable for a staggering 80% of global CO2 emissions from 2016 to 2022.

The Turkish energy exchange Enerji Piyasaları İşletme A.Ş. (EPİAŞ) and the European Energy Exchange (EEX) have signed a memorandum of understanding to underline their joint commitment to developing the Emissions Trading System (ETS) in Türkiye.

The Agriculture and Forestry Ministry has published a five-year strategic plan to protect and develop the country's forests and greenery.

Ticket prices for ferry routes between Greece and Italy have increased by approximately 5% starting Monday, in compliance with the European Union's decision to integrate maritime transport into the Emission Trading System (ETS). 

European Union countries on Tuesday finally approved the biggest-ever reform of Europe's carbon emissions market, which will make pollution more expensive and strengthen the 27-member bloc's main tool for reducing carbon dioxide emissions, Reuters reported.

The European Parliament voted on Tuesday to approve sweeping reforms to the European Union's carbon market, which are expected to hike the cost of polluting in Europe in the coming years and cut CO2 emissions faster.

Prices are expected to rise further as the cost of carbon permits under the EU emissions trading scheme continues to increase.

Environmental regulations aimed at cutting the carbon footprint of aviation will increase the cost of flying by around 8% by 2050, according to the European Commission.

The EU executive tabled a package of energy and climate laws in July this year, aiming to halve the EU's carbon emissions by the end of the decade before reaching net-zero by 2050.