EU Commission is expected to put forward its legislative proposal for a 2040 climate target ahead of a meeting of EU27 environment ministers on June 17, EU sources said on Friday. * 90% target confirmed * "Flexibilities" all on the table, including Article 6 credits use for the 90% goal More:

🚨Global shipping strikes historic deal on ambitious carbon pricing system Deal at IMO today for two-tier tax * 63 countries in favour: EU, China, India, Japan, Brazil * 16 against: Saudi A., UAE, Russia, Venezuela * 25 abstained: Pacific island states, Argentina 👉https://carbon-pulse.com/387008/

German coalition deal paves way for EU’s 2040 climate target plan * Support for 90% target at EU level * 3% points max for Article 6 credits * High quality permanent CO2 removals included 👉 carbon-pulse.com/386319/

Decision on Europe’s 2035 NDC unlikely before July, EU presidency says * Talks at working group level, "but no big progress,” says Polish state sec. Krzysztof Bolesta * No agenda points foreseen under EU Polish presidency due to stalemate on 2040 target * Options open 👉 carbon-pulse.com/385706/

EU carbon market won’t survive if it causes factory closures, industrialists warn "At one point, we might see U-turns in political decisions, with some countries or the European Parliament ... deciding to scrap the ETS completely,” said Pascal Siegwart from TotalEnergies 👉 carbon-pulse.com/384596/

EU’s 2040 climate target likely to be delayed, Commission admits carbon-pulse.com/381077/

EU’s 2040 target still due by end of March, followed by NDC in Q2 The EU Commission denied that its 2040 target plan could be delayed into Q2, rectifying statements from its Vice President Teresa Ribera who suggested in an interview that the initiative would be postponed. carbon-pulse.com/380741/

About that €800bn EU defence fund just announced €650bn of that - over 80% - is assuming Member States spend 1.5% of GDP more on defence over the next 4 years.* This is based on the (already announced) relaxation of the EU rules on budget deficits. But were fiscal rules ever the problem? (1/🧵)

'We have to urgently rearm Europe,' EU's von der Leyen says The Commission will propose a plan on this at the European Council on 6 March, as she says “we really have to step up massively". www.theguardian.com/world/live/2...

UPDATE – EU Commission unveils Clean Industrial Deal, doubles down on climate carbon-pulse.com/372671/

UPDATE – EU Commission proposes delaying corporate climate reporting rules by two years carbon-pulse.com/372763/

EU proposes to exempt small importers from CBAM, delay sale of certificates by one year carbon-pulse.com/372795/

UPDATE – Brussels announces ETS-backed ‘Industrial Decarbonisation Bank’ worth €100 bln carbon-pulse.com/372692/

« L’UE a été conçue pour emmerder les Etats-Unis. C’était l’objectif et ils y sont parvenus. Mais désormais je suis le président », a lancé M. Trump. www.lemonde.fr/internationa...

‘For the first time in 40 years, emissions are going down because we’re shutting factories’: EU chemicals industry sounds alarm carbon-pulse.com/372202/

UPDATE – LEAK: Brussels set to postpone CBAM fees and trim reporting rules carbon-pulse.com/371689/

⚠️The European Commission's Clean Industrial Deal initiative, due on Wednesday, lacks “game-changing” measures to reduce energy prices, such as a reform of the marginal pricing system for electricity, say EU steelmakers and trade unions. 👉 carbon-pulse.com/371862/

📍German election frontrunner Friedrich Merz will stick to the country's climate neutrality goal if he wins on Sunday. But he also has his own approach to topics such as coal exit, nuclear, and ETS2 that could reverberate across Europe. More here (€): carbon-pulse.com/371677/

LEAK: Clean Industrial Deal looks to support energy-intensives in decarbonisation By Rebecca Gualandi. carbon-pulse.com/370121/

✅ EU’s 2040 climate target plan back on the agenda for Q1 After facing an extended delay until the summer due to political headwinds, the Commission's proposal for a 2040 climate target is finally back on the agenda for publication in Q1 More: carbon-pulse.com/368221/

EU centre-right divide deepens amid “violent” talks on ETS2 and CBAM EPP also heavily divided on EU's upcoming 2040 climate target, report Emmanuela Barbiroglio and Rebecca Gualandi. More: 👉 carbon-pulse.com/362687/

That is also good news for climate

Europe's largest political party, the EPP, is pushing for a two-year suspension of several EU Green Deal laws, which it says "are proving to be excessive and burdensome" on EU businesses. But will it get its way? Quick thread🧵: 1/6

UPDATE – US President Trump declares “national energy emergency”, exits Paris Agreement The US will rejoin Iran, Yemen, and Libya as the only countries that are not part of the Paris Agreement 😍 👉 carbon-pulse.com/359872/

❗ETS2 UPDATE France had Czechia both support a reform of the Market Stability Reserve to prevent price spikes on the EU’s upcoming Emissions Trading System for road transport and heating fuels as concerns mount about the scheme's social acceptance. Quick thread 🧵: 1/3

❗ETS2 UPDATE: EU Commission closes case against two countries (Ireland and Greece) for failing to transpose into national law the ETS2 directive imposing a price on carbon emissions from road transport and heating fuels. Quick thread🧵: 1/2

European countries outline conditions for EU-UK ETS linkage EU "open" to the idea provided certain conditions are met and Britain contributes to the costs, according to EU filings seen by carbon Pulse. With @sarastefanini.bsky.social 👉 carbon-pulse.com/356586/

It will be a massive challenge for Europe to keep its bearings on China—let alone work hand in hand with Washington—if cronyism, conflicts of interest, and cold “America First” commercial calculations are permeating US policy My first Watching China in Europe of 2025👇 www.gmfus.org/news/watchin...

2024 ended with an early warning for EU climate policy as a succession of ministerial meetings in December revealed tensions between European countries over the bloc's future direction. A thread 🧵:

Works quite well with EU decision-making too

EU-Mercosur deal pushed forward as “necessity” despite environment concerns carbon-pulse.com/349390/

Europe is at a juncture where political resistance to decarbonisation is mounting and where budgetary means to buy off consent are becoming scarce, at both EU and national levels. To get the Green Deal done, a new investment strategy is needed www.bruegel.org/policy-brief...

Brussels preparing ‘net’ climate goal for 2040, EU sources confirm * 90% target will also include removals from soils and forestry * NGOs, industry, and EU Parliament pushing for separate sub-targets for emissions reductions, land-based removals, and technological removals 1/2

Campaigners denounce ArcelorMittal’s ‘blackmail’ over green steel in Europe Move to freeze investments was “motivated by political games” in order to extract more policy support and subsidies from the incoming European Commission, they say carbon-pulse.com/347449/

Seven EU countries call for slow-down on new auto decarbonisation policies carbon-pulse.com/347435/

INTERVIEW: EU carbon market becoming more volatile as industrial emissions overtake power sector carbon-pulse.com/347058/

EU Parliament approves second von der Leyen Commission, with refocused Green Deal carbon-pulse.com/347067/

ArcelorMittal freezes green steel projects in Europe, waits for EU policy guidance carbon-pulse.com/346666/

What was the Saudi delegation upto at COP29? We've got you the details. With @jendlouhy.bsky.social & @johnainger.bsky.social www.bloomberg.com/news/article...

COP29 closes with frustration over new $300 bln climate finance goal, omission of fossil fuels carbon-pulse.com/346177/

Nearly 200 countries have reached a historic agreement on international carbon markets at COP29, in a decision that finally concludes the rules governing the trading and crediting of mitigation outcomes under Article 6 of the Paris Agreement. carbon-pulse.com/346120/

A historic deal on international carbon markets (Article 6) is within reach at COP29 However, talks could still blow up due to: * US hardline stance on registries * Developing countries' frustration on climate finance By the fantastic @carbonpulse.bsky.social team in Baku carbon-pulse.com/345800/

Equally stunning, this report published right at the end of COP29 when leaders are supposed to agree phasing out fossil fuels By Sara Stefani. carbon-pulse.com/345353/

Indonesia vows to phase out coal power by 2040. Plan includes building over 75 GW of renewable energy by then, the Indonesian President said Stunning. By Stian Reklev. carbon-pulse.com/345534/

For those who are following the Deforestation law saga, the Council (= member states) decided, by an overwhelming majority, they did not want the amendments passed in EU Parliament last week by EPP. This is made funnier by the fact the Council is EPP by a wide majority.

The results of the first week of COP29 are decidedly messy. Some thoughts after watching this from afar over the last few days.