Carbon price

DEFINITION: A pricing system that encourages polluters to reduce their greenhouse emissions by charging for CO2 emitted into the atmosphere. A carbon price usually comes in the form of a carbon tax, or a cap-and-trade system, which allows companies a limited, and falling, number of emissions permits.

See also: Carbon budget

See also: Carbon footprint

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Carbon Price Support in the UK is currently £18 per tonne 

Higher carbon prices could raise £27bn for green recovery by 2030, experts tell UK Government

The UK's price on carbon will need to reach £75 per tonne by 2030 if the nation is to meet its 2050 net-zero target - a price which would raise up to £27bn of finance for low-carbon sectors.

European Commission President Ursula von der Leyen confirmed on 16 September that the EU would back the proposed 55% reduction

Carbon prices to climb 50% over next decade following raised EU climate targets

Carbon prices across the European Union (EU) could increase by more than 50% over the next decade, with the bloc's proposed 55% reduction in emissions set to shape renewables and fossil fuel markets in the long-run, according to new analysis from the Refinitiv Carbon Research team.

Offsetting schemes often involve conserving, restoring or creating habitats like woodland, which sequester carbon

Mark Carney assembles business giants in drive to scale carbon offsetting markets

Representatives from Unilever, Nestle, BP and Shell are among the members of a new private-sector taskforce aiming to scale up voluntary carbon credit markets, spearheaded by former Bank of England Governor Mark Carney.

Carbon pricing has proven a key sticking-point in debates around both the net-zero transition and delivering a low-carbon recovery from the Covid-19 pandemic

EU carbon price to reach €32 by 2030, short of required price for UK's net-zero target

The International Emissions Trading Association (IETA) has published its latest carbon pricing forecast and vowed to lobby for the net-zero transition by 2050 at the latest, while the Zero Carbon Commission is t calling for a UK carbon price of £75 per tonne by 2030.

British Land's portfolio is currently valued at around £14.8bn

British Land targets net-zero portfolio by 2030

Property development and investment giant British Land has unveiled a sweeping new sustainability strategy, headlined by a 2030 net-zero target for its office and retail estate.

BEIS wants to provide consistency for those accessing the market

UK proposes national Emissions Trading System to replace EU carbon market

The UK Government has published new proposals on its individual UK-wide Emissions Trading System (ETS) that would replace the EU's carbon trading variant.

LSE warns that less than 5% of global emissions that are covered under carbon pricing initiatives are priced at a level consistent with the aims of the Paris Agreement

Carbon price: Tax polluters not people to assist coronavirus recovery, report urges

Carbon pricing aligned to the needs of the Paris Agreement can raise revenue to support the coronavirus recovery in a better way than a tax on income or labour, new research by the Grantham Research Institute on Climate Change and Environment at the London School of Economics and Political Science (LSE) has found.

Using 33% of revenues for energy efficiency can ensure fuel-poor households are not adversely affected by carbon taxation

Carbon tax rises 'could fund energy efficiency drive'

The government could siphon off a large chunk of the revenues from increased carbon prices to improve the energy efficiency of fuel poor households, according to a new report from the London School of Economics' Grantham Institute.

The Budget outlined numerous focus areas for the Government's net-zero approach 

Clean transport, CCS and biodiversity championed in Budget 2020

BREAKING: Chancellor Rishi Sunak has today (11 March) unveiled a multi-billion-pound package to push the UK towards the net-zero emissions target in his first Budget - but has faced criticism for failing to end fuel duty freezes or cut roads spending.

EU could use carbon border tax against Brexit Britain, warns MEP

The EU could deploy a carbon border tax against the UK after Brexit, according to the head of the European Parliament's environment committee, if Westminster diverges from bloc rules on issues like carbon markets.

Pictured: The Cottam coal power station, which ceased generation in September 2019. Image: EDF 

Report: Emissions trading reached record €194bn high in 2019

Globally, turnover related to emissions trading rose 34% year-on-year in 2019 to reach €194bn (£163bn), new research has revealed.

The ACEA represents carmakers including Ferrari, Groupe Renault and Volkswagen 

Carmakers renew calls for low-carbon revolution as grim sales figures loom

Some of the EU's largest auto players have called once for a mass rollout of electric vehicle (EV) recharging points and refuelling stations for fuels like hydrogen, as the industry offered up more clues as to how it intends to lessen its climate impact.

Microsoft will launch a $1bn climate innovation fund, using its own capital, to help develop carbon reduction and removal technologies

'Neutral is not enough': Microsoft pledges to become carbon-negative by 2030

Tech giant Microsoft has today (16 January) unveiled a bold new plan to reduce its carbon impact to below net-zero by 2030, with an additional goal of removing carbon from the atmosphere that the company has emitted since it was founded in 1975.

European Commission President Ursula von der Leyen unveiled the strategy at a special session at COP25

Europe's 'man on the moon moment': Green Deal to create world's first climate-neutral continent

European Commission President Ursula von der Leyen has unveiled 50 sweeping plans to enable the EU to reach net-zero emissions by 2050, claiming that the Green Deal was "more than just a vision, it is a roadmap for action".

Pictured: One of RWE's coal-fired power plants in mainland Europe. Image: Greenpeace

European coal power output sees 'unprecedented' decline

Electricity production from coal is on track to fall by around 3% globally in 2019 - the largest drop on record - with Western European countries leading the charge, according to fresh data published today (25 November).

The energy companies have called for the CET to be set for 2020 and that it is comparable with recent EU ETS pricing

Energy giants call for post-Brexit carbon price certainty in 'Net-Zero Budget'

Energy giants Drax, Orsted and SSE have penned a joint letter to Chancellor Sajid Javid calling for the Government to outline post-Brexit carbon pricing mechanisms, warning that it is crucial to the resilience of business and acts as a key indicator for investors.

BP's chief executive Bob Dudley and group chief economist Spencer Dale on stage at the One Young World summit

BP chief: Alternative to 'polluter pays' carbon tax can help meet net-zero

BP's chief executive Bob Dudley and group chief economist Spencer Dale believe that regional carbon prices that don't just tax the producers will enable the oil and gas giant to join the global transition to net-zero emissions, but neither were convinced of when that would happen.

Bentley Motors installed a solar carport at the site, consisting of 10,000 solar modules. The array has a 2.7MW capacity covering 1,378 parking spaces

Bentley achieves carbon-neutral certification at solar-powered Crewe plant

Bentley Motors' corporate headquarters and main manufacturing facility in Crewe has achieved carbon-neutral certification, with a solar-powered carport, green energy contracts and carbon offsets used to decarbonise the plant.

First Vice-President of European Commission Frans Timmermans of the Netherlands, image: European Parliament Flickr

European Commission promises green recovery to EU lawmakers

The European Commission's Green Deal chief, Frans Timmermans, assured EU lawmakers that "every euro" spent on economic recovery measures after the COVID-19 crisis would be linked to the green and digital transitions. EURACTIV Germany reports.

The panel included representatives from the finance, environmental services, engineering, cement, food manufacturing and retail sectors. Image: Aldersgate Group

Carbon trading clarity and citizens in the spotlight: What do businesses want from COP26?

With a successor to the COP26 presidency role yet to be announced, all eyes are on Westminster for news on its plans for organising the crucial summit. But - beyond a stable delivery team - what are UK business's big asks of the conference, both in terms of organisation and execution?

Sustainability Leaders Awards 2020: Meet the Finalists

After a record-breaking year of entries, the judges have convened, decisions have been made and edie is proud to unveil the well-deserved finalists for the 2020 Sustainability Leaders Awards. This report outlines the who's who of sustainability excellence.

The end game, regardless, would be to achieve climate neutrality by 2050

EU lawmakers up the ante, vote for 60% climate target for 2030

The European Parliament's environment committee has voted for a new EU-wide target to reduce carbon emissions 60% by 2030, setting the stage for tough negotiations with EU countries and the European Commission, which is expected to propose a 55% goal next week. EURACTIV Germany reports.

Eleanor has provided consultancy services for business clients across a range of sectors, including construction, infrastructure, pharmaceuticals and transport

Meet edie's 30 Under 30 Class of 2019: Eleanor King, AECOM

This series profiles the members of edie's 30 Under 30 - a nomination-based community of 30 hugely talented young sustainability and energy professionals who have already achieved great things or are showing fantastic promise. Next up: Eleanor King, sustainability consultant at AECOM.