- 22:45 GMTThe EU's Climate Commissioner Wopke Hoekstra suggested on Monday that the bloc's 90% emissions reduction goal for 2040 could include "flexibilities" to secure political support, while maintaining scientific credibility.
- 22:01 GMTGlobal steel giant ArcelorMittal has only spent 2.5% of the billions of dollars it has generated between 2021 and 2024 on decarbonisation, instead prioritising shareholder payouts, an NGO said in a report on Tuesday.
- 16:15 GMTHeads up - On May 28 at 1800 CET, the European Commission will publish the total number of allowances in circulation (TNAC) on the EU ETS in 2024. The annual publication of the TNAC plays an important role in the functioning of the Market Stability Reserve (MSR), and determines whether allowances are withdrawn from the auction volume and placed in the reserve, or released and auctioned.
- What's up docs? - Russia has published new documents relating to crediting standards for projects in the country. Following work in 2024 by a technical body, six new documents relating to the national standardisation system regarding the implementation of climate projects were released on the Russian registry's website. Through expert work, national standards establishing methods for the quantitative determination of greenhouse gas emissions and absorption, including calculation and instrumental methods for the quantitative determination of greenhouse gas emissions and absorption, have been developed and approved for the first time at the national level, the registry stated Monday.
- 15:31 GMTThe European Commission has firmly restated its commitment to a 2027 launch of the EU ETS2, underlining that the “legislation is already adopted and in force” and that no revision of its provisions is foreseen before 2028.
- Seagrass conservation projects offer the highest carbon credit potential among four methods studied, with a 100-hectare site projected to earn up to $1.53 million over 10 years, according to a new report.
- 15:09 GMTVoluntary carbon prices were little changed little last week, despite the official launch of the VCMI’s new Scope 3 action code that highlighted a market caught in limbo by the ongoing lack of Core Carbon Principles (CCPs)-stamped credits.
- 14:23 GMTVerra now has its sights set on approval of more of its methodologies by the Integrity Council for the Voluntary Carbon Market (ICVCM), as well as scaling supply eligible for the UN's CORSIA international aviation offsetting scheme, an executive told Carbon Pulse.
- 13:56 GMTCombining biodiversity and carbon credits systems is urgently needed to incentivise funding in underwater ecosystems such as corals, according to a recent academic report.
- 13:09 GMTSee ya - Erin Leonard, global head of sustainability at HSBC Asset Management, is set to leave the firm, ESG Today reports. Her departure is the latest in a series of leadership changes affecting HSBC’s sustainability team after Group CSO Celine Herweijer exited the company after the role was removed from the bank's executive committee last November. The move follows an ongoing restructuring under new CEO George Elhedery. The firm has also recently launched an infrastructure finance unit focused on low-carbon transition.
- 13:04 GMTPort of call - The Port of Rotterdam has launched a new €3.5 mln funding initiative, Carbonid, to support projects that reduce GHG emissions in areas of the port not covered by the EU ETS, reports Seatrade Maritime News. A minimum of five projects will each receive up to €700,000, aiming to fast-track the adoption of sustainable solutions with an emphasis on cost-effectiveness. Eligible applicants include start-ups, service providers, and manufacturers of machinery and equipment, both within the port and from outside.
- A Norwegian carbon capture and storage (CCS) developer has been selected to receive up to NOK 23.8 million (€2 mln) in government funding for two feasibility-stage projects.
- 12:18 GMTCentre-right and far-right groups in the European Parliament are reportedly pushing to weaken the EU's Habitats directive, with a plenary scheduled for this week seen as critical for the future of wildlife protection across the bloc.
- 12:15 GMTZimbabwe has published new carbon trading regulations in a bid to attract fresh investment and align with Article 6 of the Paris Agreement, launching a new registry, clarifying mandatory project fees and revenue sharing provisions, and raising the bar for clean cooking activities permitted in the country.
- 11:42 GMTThe centre-left's pick as the new German climate minister will head up a fortified environment ministry that takes back responsibility for national and international climate policy from the energy and economic affairs, and foreign departments.
- 11:38 GMTEuropean carbon prices corrected back on Monday as they snapped last week's three-session rally, as strong renewable generation and a return to more normal levels of auction supply weighed on the market.
- 11:35 GMTHelping hand - Indonesia and Norway over the weekend signed a Letter of Intent (LoI) for strengthening climate diplomacy and promoting biodiversity conservation, the Indonesia Business Post reported. The nations will work together on areas including climate change mitigation and adaptation, peatland and mangrove ecosystem preservation, waste management, and the promotion of a circular economy. Since 2022, Norway has backed Indonesia’s efforts to reduce emissions from the forestry and land-use sector (FOLU), and has pledged $216 mln in support. Norway has also helped the Southeast Asian nation developed a carbon trading system to help achieve its NDC.
- 10:07 GMTThe Paris-headquartered Organization for Biodiversity Certificates (OBC) on Monday announced the launch of a pilot biodiversity credit framework in France, aiming to back the market uptake across the country.
- 09:03 GMTOut of gas - The EU plans to introduce measures aimed at banning Russian gas imports by the end of 2027, Bloomberg reports. To advance its strategy to reduce reliance on Russian gas, the EU intends to propose a ban in June on all imports tied to new agreements with Russia, as well as existing spot contracts. These measures — which target spot contracts that make up roughly a third of current imports — are expected to take effect no later than the end of 2025.
- 07:00 GMTIt is Friday, June 14, 2019 and I am in the Vatican waiting for the Pope to make his entrance.
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