- The European Commission has opened a four-week consultation following the publication of a draft implementing regulation for CBAM on 13 May 2026.
- The draft rules explain how the payment of third-country carbon prices can reduce CBAM
China’s New Five Year Plan Prioritizes Climate Targets and Domestic Growth
The Chinese Communist Party’s policy plans include an increased focus on climate change and a more open trade environment.
By Paul Davies, Ethan Prall and Andrew Westgate
The Central Committee, the top-level authority of the Chinese Communist Party (CCP), recently concluded its Fifth Plenary Session and created China’s 14th Five Year Plan (the Plan). The Five Year Plan is the primary policy document for the CCP, covering a variety of social, economic, and foreign policy topics, and effectively serving as the CCP’s political platform. The Fifth Plenary was attended by 198 members of the Central Committee, including President Xi Jinping in his role as General Secretary of the Central Committee (his most important title). The full text of the new Plan is not yet public, but a communique summarizing the discussions at the Plenary has been released (Chinese version only). The communique indicates that the CCP will continue its focus on developing environmental governance policies through 2025, and the party will also prioritize aggressive climate policies aimed at reaching the 2060 carbon neutrality target recently announced by President Xi.
UK Carbon Pricing Updates: UK Emissions Trading System and Carbon Emissions Tax Consultation
The government provides further details on UK carbon pricing after Brexit.
By Paul A. Davies and Michael D. Green
On 14 July 2020, the UK government published the draft Greenhouse Gas Emissions Trading Scheme Order 2020 (the Order), establishing a framework for the potential UK Emissions Trading System (UK ETS). Subsequently, on 21 July 2020, the government published a consultation on the operation of a potential new carbon emissions tax.