According to draft proposals seen by market sources, the CBAM will replace the current system of free carbon allowances for metals sectors, and tighten allowances in the European Emissions Trading System generally, a bone of contention for some.

The pan-European STOXX 600 was up 1.0% after ending Wednesday with its fifth straight quarter of gains, and was set for its best session in more than a month.

According to the EU Climate Law, the European Union will have to cut its net greenhouse gas (GHG) emissions by at least 55% by 2030 compared to 1990 levels and to reach climate neutrality by 2050.

The vote means the Parliament has given its final rubber stamp on a provisional deal it reached with the EU Council April 21 in which the EU will raise its emissions reduction target to at least 55% below 1990 levels by 2030, from the previous 40% goal.

In Germany, the euro zone’s benchmark bond issuer, 10-year yields have risen around 12 basis points

The EU plans to introduce mandatory sustainability criteria for all projects and to end support for new natural gas and oil projects.

The Council of the European Union has approved a regulation creating the €17.5bn Just Transition Fund (JTF).

The EU ETS represents one of the world’s largest CO2 markets. It caps emissions from about 10,000 power sector, industrial and aviation installations from all EU countries plus Iceland, Liechtenstein, Norway and Switzerland.

20% of the funds should be directed to Poland, which accounts for over half of the EU's coal sector employees, followed by Germany (13%) and Romania (11%), provided the coal mining regions submit climate-friendly plans

Foratom suggest the report can be a reference for policymakers when preparing national or regional low-carbon energy plans in the perspective of the EU Green Deal, that incorporates EUR1000 billion (USD1221 billion) of public and private investments planned to 2027.