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New European Commission set for clearance as EU parties seal political pact
The new Commission headed by Ursula von der Leyen is set to begin its term on Dec. 1 after the three mainstream political groups in the European Parliament sealed an agreement on Wednesday evening to approve her team. Read MoreTop
COP29: "Is it a joke?" — Climate finance splits persist as negotiators await new text
Developing countries have rebuffed the idea of a $200 billion annual climate finance target for wealthy government coffers, calling it a "joke" as ministers rushed to bridge persistent differences in the last stretch of COP29 negotiations on Wednesday. Read MoreTop
EU countries back one-year delay to anti-deforestation law, reject Parliament’s amendments
The Council of EU member states on Wednesday approved a proposal to delay the bloc’s controversial anti-deforestation law by one year but did not endorse the European Parliament’s proposed amendments, triggering angry reactions from conservative lawmakers who called the move “irresponsible”. Read MoreTop
DATA DIVE: The carbon projects poised to profit if Article 6 gets over the line in Baku
With hopes of a breakthrough on Article 6 remaining high as COP29 races towards its conclusion, data from first-moving countries and projects reveals a market poised to make full use of Article 6 carbon trading once market dynamics are fully operationalised. Read MoreTop
COP29: Correspondingly adjusted carbon credits trading at $7-22, says market analytics firm
Article 6.2 or CORSIA-eligible carbon credits are currently trading in the $7-22 range, with prices expected to peak in 2027 and stabilise by 2030, according to a market specialist speaking to Carbon Pulse on the sidelines of COP29. Read MoreTop
COP29: BRIEFING – Experts see rising chance of US CBAM, along with international challenges
There is an increasingly strong likelihood that the US will implement a carbon border adjustment mechanism (CBAM), but such a policy would likely come with challenges on the international level, according to experts speaking at COP29. Read MoreTop
EU court rejects French cement-maker's €40-mln damages claim over ETS rules
A top European court on Wednesday dismissed a €40.1-million damages claim by a French cement manufacturer against the European Commission and relating to the free allocation of carbon allowances, ruling that the company failed to prove it suffered financial harm directly caused by Brussels’ actions. Read MoreTop
COP29: Ecuadorian civil society cleaves on carbon markets after presidential veto
One month after Ecuadorian President Daniel Noboa vetoed a bill that would have legalised carbon markets in the country for good, industry and activists are divided, while an energy crisis continues to divert officials’ attention. Read MoreTop
Startups urge govt to turn UK into a voluntary carbon hub
The UK could become a global hub for carbon market startups, building on the £790 million the sector has already raised — if the British government gets behind to boost the voluntary carbon market's growth, according to a report published on Wednesday. Read MoreTop
Power-hungry data centres to exceed extra electricity demand from EVs, in boon to removals market
Power-hungry data centres in Europe will need more electricity to feed their expanding memory banks and artificial intelligence functions over the rest of the decade than the growing fleet of electric vehicles, according to new analysis. Read MoreTop
COP29: Azerbaijan urges ministers to bridge differences in last stretch of talks
Azerbaijan’s COP29 presidency has urged ministers to speed up their negotiations on the new global climate finance goal and next steps for cutting greenhouse gas emissions, as major sticking points persist in the final days of the summit. Read MoreTop
BRIEFING: UK to hold producers responsible for packaging lifecycle under forthcoming regulation
The Extended Producer Responsibility (EPR) scheme set to launch next year in the UK will require packaging producers to report how much they produce, and pay associated fees, though it is unclear how high those costs could go, say industry experts. Read MoreTop
COP29: UK gains ground in latest climate change performance index, but no countries on track for 1.5C
The UK achieved the largest rise in annual rankings of countries’ climate change performance, published Wednesday, but no nations are on a 1.5 C-aligned pathway despite the strong global growth of renewables. Read MoreTop
COP29: New Zealand joins fossil fuel phaseout subsidy coalition while on cusp of lifting oil and gas exploration ban
New Zealand on Tuesday joined several countries in an international coalition to phase out fossil fuel subsidies and incentives, despite its government expecting soon to pass legislation to lift the country’s ban on oil and gas exploration. Read MoreTop
