Emissions trading

The increase to be announced is at 6.5% – How 19 allowances are affected

The Turkish energy exchange Enerji Piyasaları İşletme A.Ş. (EPİAŞ) and the European Energy Exchange (EEX) have signed a memorandum of understanding to underline their joint commitment to developing the Emissions Trading System (ETS) in Türkiye.

The European Commission has initiated four infringement procedures against Bulgaria, marking a formal notice sent to the country. Bulgaria now faces a two-month window to respond to the notice, or the Commission may proceed to issue a reasoned opinion.

Ticket prices for ferry routes between Greece and Italy have increased by approximately 5% starting Monday, in compliance with the European Union's decision to integrate maritime transport into the Emission Trading System (ETS). 

Shipping passengers must have noticed this summer that the vessels they are traveling on are getting old. Even though maintenance is good, the fact remains that the average age of Greece's passenger shipping fleet is 31, with many vessels having topped 40.

The European Union's major trading partners, including Türkiye, will be impacted by the bloc's carbon tax, experts have said.

The competition will intensify for the nations which are slow in preparations to comply with the carbon tax regulations, such as Türkiye, China, India, the U.S., the U.K. and Canada, they warned.

The participation of Cyprus in the ambitious climate target set by the European Commission for a reduction of at least 55% in greenhouse gas emissions by 2030, based on the new package of European legislation Fit for 55, includes further emissions reductions in all sectors.

European Union countries on Tuesday finally approved the biggest-ever reform of Europe's carbon emissions market, which will make pollution more expensive and strengthen the 27-member bloc's main tool for reducing carbon dioxide emissions, Reuters reported.

The European Parliament voted on Tuesday to approve sweeping reforms to the European Union's carbon market, which are expected to hike the cost of polluting in Europe in the coming years and cut CO2 emissions faster.

The trade union demonstration under the slogan "To protect the country's energy security" is taking place in front of the parliament building.