Funds sue CME in multi-million dollar lawsuit due to voluntary carbon product changes in wake of CORSIA decision

Published 17:43 on June 19, 2024  /  Last updated at 17:43 on June 19, 2024  / Paddy Gourlay /  Americas, Aviation/CORSIA, International, US, Voluntary

The change in credits eligible for the current phase of CORSIA, the UN’s international aviation offsetting scheme, compared to its pilot, has triggered a $155.4 mln lawsuit against CME Group after it altered eligibility for its GEO futures contract.

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Euro Markets: EUAs jump most in a month as options expiry releases market to track gas prices

Published 17:34 on June 19, 2024  /  Last updated at 17:41 on June 19, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

European carbon prices posted a strong afternoon gain after the expiry of the June options contract in the early afternoon appeared to release EUAs to resume their close correlation with natural gas, while UKAs retreated after reaching their highest level in eight months, as profit-taking picked up to offset some speculative bullishness around the approaching election.

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US foundation allocates over $33 mln to restore longleaf pine forests

Published 16:31 on June 19, 2024  /  Last updated at 16:31 on June 19, 2024  / Giada Ferraglioni /  Americas, Biodiversity, US

A US-headquartered foundation has announced the allocation of $33.5 million in grants to finance the conservation and restoration of longleaf pine forests in eight southern states.

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INTERVIEW: Investors chilled by noise of European Green Deal unravelling

Published 16:27 on June 19, 2024  /  Last updated at 16:27 on June 19, 2024  / Frédéric Simon /  EMEA

As competition with China and the US intensifies on clean tech, the EU must stay the course on the Green Deal and make sure it is implemented by filling the remaining gaps in areas like finance and electrification of end-uses, says Iberdrola’s director for climate, Gonzalo Saenz de Miera.

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EU Commission earmarks larger budget for 2025, but climate action sum unchanged

Published 16:23 on June 19, 2024  /  Last updated at 16:23 on June 19, 2024  / Emanuela Barbiroglio /  EMEA, EU ETS

Expense for environment and climate action in the EU will remain the same as last year, although the general budget is growing, according to allocations for 2025 proposed by the European Commission on Wednesday.

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Biochar producer announces first pre-purchase agreement in boost for nascent UK carbon removal market

Published 16:14 on June 19, 2024  /  Last updated at 16:14 on June 19, 2024  / Nick Ferris /  EMEA, Nature-based, Voluntary

A UK biochar producer has announced its first carbon removal agreement, in what marks a boost for the British carbon removal (CDR) market.

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EU must manage social impacts of carbon pricing, business group warns

Published 16:00 on June 19, 2024  /  Last updated at 16:00 on June 19, 2024  / Emanuela Barbiroglio /  Carbon Taxes, CBAM, EMEA, EU ETS

A briefing released today by the Corporate Leaders Group (CLG) Europe following EU elections earlier this month, makes the case for a “social deal” and an “industrial deal” alongside the Green Deal, to manage the transition to a net-zero economy. 

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EU-China agree to cooperate on emissions trading

Published 15:12 on June 19, 2024  /  Last updated at 15:12 on June 19, 2024  / Sara Stefanini /  Asia Pacific, Carbon Taxes, CBAM, China, Climate Talks, EMEA, EU ETS, International, Paris Article 6

The EU and China agreed on Wednesday to cooperate in promoting emissions trading as an effective tool for reaching net zero emissions, as part of a wider pact to work together during a high-level environment and climate dialogue in Brussels.

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Report urges Australia not to let coal mines self-report methane emissions

Published 15:01 on June 19, 2024  /  Last updated at 08:31 on June 19, 2024  / Mark Tilly /  Asia Pacific, Australia

A report has warned against the Australian government moving to allow all coal companies to self-report their emissions, saying it could obscure millions of tonnes of methane pollution.

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DATA DIVE: The European countries set to capitalise on demand for carbon storage

Published 14:34 on June 19, 2024  /  Last updated at 14:54 on June 19, 2024  / Nick Ferris /  Data Dive, EMEA, EU ETS, International, UK ETS

Certain European countries blessed with geographical advantages can expect to reap significant rewards as demand for carbon storage heats up this decade.

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