Alessandro Vitelli

• UK minister says CBAM won’t be implemented in full.
• UK carbon allowance price has fallen 50% to half the EU price.
• Exporters will face big bills to ship steel, cement to Europe.

• The EU’s Carbon Border Adjustment Mechanism levy came into effect on 1 October, 2023.
• Importers will need to pay for carbon content from 2026.
• Levy is seen to help encourage more carbon markets.

Shell, Nestle among companies turning away from carbon offsets 

Media reports raise quality concerns over some carbon reduction projects 

UN and many emerging economies still planning to set up carbon offset markets  

• Companies to be required to buy carbon credits to cover emissions.
• Domestic credits may also be sold abroad.
• Market could cover 4,000 installations.

• Electricity generation accounts for almost half of all demand for EU emissions allowances.
• Public power generation across the EU has fallen 3.5% year-on-year.
• ICIS expects EUA prices to end the year at €81 per tonne.

• Shell has shut down a programme to buy as much as USD 100 million carbon credits per year.
• Renewable energy credits are presently trading at as little as USD 1 per tonne.
• According to The Guardian, “REDD+” projects overstate their success in preserving trees”.