Today the European Parliament’s environment committee took the first steps to reform the EU’s Emissions Trading System. Following intense pressure from forward looking investors and civil society, policymakers agreed to curb the total amount of pollution permits in the system that would otherwise flood the market by 2020. This is expected to result in a stronger carbon price signal in order to let the polluter pay and support climate friendly investments in Europe. Policymakers unfortunately failed to agree to a timely start of the new Market Stability Reserve which will only become operational by 2019.
39 non-governmental organizations urge the finance ministers attending today's G20 meeting in Istanbul to take immediate steps to eliminate subsidies for fossil fuels, and use these funds for climate action.
According to Climate Action Network Europe, one of the signatories of pdf the letter sent to the G20 finance ministers (234 KB) , the G20 summit is a test of the EU's role in international climate negotiations set to make a global deal in December.
 Letter to Turkish G20 President on Fossil Fuel Subsidies | [ ] | 234 kB |
Read more: G20 finance ministers urged to end subsidies for fossil fuels
Global CO2 emissions rise at lower rates, giving some reason to hope for limiting climate change
Canada and Australia worst performers of all industrialised countries
Global emissions have reached a new peak, but recent developments indicate a new readiness for action on climate protection. This is the message of the 10th edition of the Climate Change Performance Index (CCPI); a ranking of the climate protection performance of the 58 highest emitters worldwide published by Germanwatch and CAN Europe at the UN Climate Conference in Lima today.
Read more: Climate Change Performance Index: Global Shift Needs Further Action
More action required before the next climate summit in Paris
At the end of the UN Climate Summit in Lima, Wendel Trio, Director of Climate Action Network Europe1 stated:
"The limited progress that was achieved in Peru, in particular on the provision of financial support to poor countries to adapt to climate change, or repair the damages from extreme weather events, is a big let down after the positive signs that came from the New York Summit and recent announcements about emission cuts and financial pledges."
Top ten EU Member States have poured at least €78 billion euro into fossil fuel production since 1999, according to new research.
Read more: EU countries spending billions of public funds on dirty fossil fuels