A green and level playing field?

The European Commission faces a tortuous task refereeing CBAMs winners and losers

#EUAPredict 2026

What's your forecast for the EU carbon price in 2026?

Carbon pricing doesn't have to be taxing

Carbon pricing has come under increasing pressure over the past 12 months amid affordability concerns, allegations of state overreach, and opposition parties using the issue to drive a wedge between voters. The outcome has been delays, proposals to slow the rate at which emissions must decline, and in some cases,

A statement of intent

What Mark Carney's 'variable geometry' approach reveals about the future of carbon pricing in Canada

Repost: A uniform global carbon price is unworkable, and unnecessary

In a little over three weeks time, on 1st January 2026, the EU's Carbon Border Adjustment Mechanism (CBAM) comes into force. It promises to extend the EU's carbon prices beyond its borders for the first time, ensuring that imports of carbon intensive products covered by the

Committed traders

"Calling someone who trades actively in the market an investor 'is like calling someone who repeatedly engages in one-night stands a romantic.'" — Warren Buffett Committed traders? Surely an oxymoron on a par with 'passive investment' and 'deafening silence'. The resolution to this

Carbon Risk 2025 year in review

A look back at year four of the Carbon Risk newsletter

What now for America's state carbon markets?

Carbon pricing mechanisms cover approximately 10% of the United States emissions including California, Washington State, and a group of ten or so states in the northeast – New York, Massachusetts, and New Hampshire among them. Although the carbon price across these states varies from around $25 to $70 per tonne CO2,

Walking the torque

Earlier this year, European electrical engineering company ABB, announced that one of its largest industrial electric motors had set a new world record, achieving an incredible 99.13% efficiency during testing. The previous record of 99.05%, also held by ABB had stood for eight years. This large synchronous electric

Join the club

Every major climate agreement, from the 1997 Kyoto Protocol to the 2015 Paris Agreement, relies on disparate states voluntarily taking action to reduce their emissions to collectively help tackle climate change. Although a significant improvement on the mechanisms setup under Kyoto, the Paris climate accord does not confer any costs

An article of faith

The European Parliament has voted in favour of cutting net emissions by 90% compared to 1990 levels by 2050, backing an earlier agreement reached by the European Council. The plan also means that starting in 2036, up to 5% of the emission reduction can be achieved through the purchase of

Eyes on the prize

Revised SBTi standard amplifies role of internal carbon prices, carbon credits, and Environmental Attribute Certificates (EACs)

"Affordability" narrative weighs on California's carbon market

A 'Blue Wave' may need a greyer shade of green in the Golden State

New Zealand's carbon price slumps as confidence cracks

Government announces it will break link with net zero target

Softening the blow

In today's article I discuss the decision by the German government to subsidise the industrial electricity price from early 2026. Whether it leads to a rejuvenation in the country's battered industrial heartland and increases demand for EUAs is another matter. I fear that something more fundamental

The Green Premium chimera

Bill Gates' latest article argues that there are three tough truths about climate that everyone at COP30 needs to know: 1) climate change is a serious problem, but it will not be the end of civilisation, 2) temperature is not the best way to measure our progress on climate,

Amping up

Electrification of oil and gas production is controversial, but necessary

Escaping hells kitchen

Advanced cookstove methodologies offer a promising recipe to slash emissions and cut air pollution

Nature for sale

Biodiversity credits and offsets are a distraction from the real problem

Looking through it

Climate policy trade-offs complicate the outlook for eurozone monetary policy

Climate change is showing its claws - it's time to adapt

“Adaptation, by building resilience to climate impacts, avoids damaging decreases in income." - Nicholas Stern The Earth has reached its first catastrophic tipping point linked to rising GHG emissions. The Global Tipping Points report, led by the University of Exeter warns that warm water coral reefs now face long-term

Gas pains

A super-pollutant gets the cold shoulder

Repost: Coming of age

The evolution of carbon credits fits a pattern of financial innovation

Full disclosure returns

The $500 billion Scope 3 opportunity