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EU ministers support ETS2 reform, await 2040 target clarity
European ministers signalled strong momentum for reforming the EU Emissions Trading System for heating and transport (ETS2) at an Environment Council on Tuesday, with a majority of the bloc's 27 members pushing for revisions to address price volatility and household impacts. Read MoreTop
Analysts see ETS2 driving 20% drop in affected emissions by 2030, prices at €100/t
Analysts forecast that sectors covered by the EU ETS2, which is due to come into force in 2027, could see around a 20% drop in emissions by 2030 compared to 2023, and that prices would reach around €100/tonne by the same date. Read MoreTop
Brazilian project developer secures $30 mln in latest funding
A Sao Paulo-based reforestation carbon removal (CDR) project developer announced Tuesday it has secured $30 million in a Series A funding round. Read MoreTop
Egypt to launch carbon insurance product in Q3 -official
A public-private partnership spearheaded by Egypt’s Financial Regulatory Authority (FRA) will launch carbon credit insurance in the coming months, an official told a webinar Tuesday. Read MoreTop
Ukrainian agri group to expand soil carbon coverage and renewables in 2025
A Ukrainian agricultural group plans to expand the land area enrolled in its carbon farming programmes this year and continue its investment in renewable energy, while also including bioenergy with carbon capture and storage (BECCS) in its longer-term roadmap, according to its latest annual report. Read MoreTop
Net zero is a "fraud" that allows fossil fuels to keep rising, says multinational executive
The term 'net zero' is a "fraud" that has allowed fossil fuel emissions to keep rising faster, as carbon credits earn money for bankers but do little to protect the environment, the head of a multinational company said on Tuesday. Read MoreTop
First satellite to map global forest carbon in 3D launches under European programme
A satellite launched Tuesday under a European programme is the first to map global forest biomass and carbon in 3D from space. Read MoreTop
BP's profits drop as confidence wavers over 'reset' to fossil fuels
BP has reported a year-on-year drop in profits in the first quarter after a slide in oil and gas prices, increasing pressure on the board to redirect the energy company's strategy back to the energy transition. Read MoreTop
Indonesia’s JETP secures $60 mln for floating solar post US pullout
Indonesia’s Just Energy Transition Partnership (JETP) secured $60 million on Tuesday to fund a 92 MW solar power project, signalling that despite the US exit earlier this year, the partnership that aims to help the Southeast Asian country reach net zero emissions by 2060 is alive and kicking. Read MoreTop
UK's pricey power blamed for slowing the net zero transition
Pricey power is the biggest obstacle to the UK’s decarbonisation, standing in the way of a faster shift to heat pumps, electric vehicles, and the wider rise of electrification, energy experts said on Tuesday. Read MoreTop
DATA DIVE: Carbon integrity and sustainable development criteria negatively correlated, data suggests
It is difficult for buyers to find projects that meet both carbon integrity and sustainable development criteria, new data shared and analysed by Carbon Pulse has found. Read MoreTop
France backs three climate targets for 2040, says "interested" in Article 6
Paris supports an EU 2040 climate target divided into three sub-objectives – the first on gross emissions reductions to continue on the current path, and two related to carbon removals from natural and engineered solutions, a French official has said. Read MoreTop
UPDATE - Canada re-elects Liberals, with new PM Carney to build on decade of climate policy experience
Prime Minister Mark Carney and the Liberals are projected to have won Monday's Canadian federal election, in a remarkable reversal of fortune just months after they were projected to lose by 20-30 percentage points. Read MoreTop
Russia’s Sakhalin carbon initiative sees first transaction as market trading begins
Russia’s Sakhalin climate imitative has entered its implementation phase with the first carbon unit transaction, the country’s carbon registry announced this week. Read MoreTop
