Colombian leader flags nation’s potential to be major player on offsets
Colombia has the potential to be a major global player in the international carbon market, President Ivan Duque told a conference on Monday, citing plans to develop nature-based credits for use at home and abroad.
Read MoreSBTi halts oil and gas firm involvement while it revamps its template
The Science Based Targets initiative (SBTi) will no longer accept commitments or validate targets from fossil fuel companies, the partnership said on Monday, adding that it aims to complete its much-delayed methodology for the sector later in the year.
Read MoreUS envoy Kerry urges major emitters to scale up shorter-term climate effort
Major emitters such as China, India, and Mexico need to sharpen their 2030 climate pledges ahead of longer-term efforts, US climate envoy told a conference on Monday, flagging prospects for a further roll-out of public-private funding.
Read MoreUK lawmakers warn of critical gaps in government’s net zero strategy
The UK is likely to miss its 2050 net zero emissions target because of a failure to put in place credible plans to encourage essential investment by consumers and businesses, a cross-party group of UK lawmakers said in a report on Friday.
Read MoreOpposition to second EU ETS deepens, as divisions emerge among largest political group
Opposition against a proposed second EU carbon market for buildings and transport has spread to the biggest political group in the bloc’s parliament, with centre-right members rebelling against their senior spokesperson and joining progressive MEPs in seeking to limit the measure or kill if off entirely.
Read MoreIEA urges EU to consider nuclear extensions to help wean itself off Russian gas
The EU should delay planned closures of nuclear power plants, incentivise greater use of wood-burning generators, and encourage citizens to turn down their heating, the IEA said on Thursday in a 10-point proposal to cut the bloc’s dependence on Russian gas.
Read MoreEU lawmaker rift widens over carbon border plans
European parliamentarians remain deeply at odds over a planned carbon border adjustment mechanism (CBAM), as a key cross-party group failed to agree a united line this week.
Read MoreItalian business lobby calls for temporary suspension of EU ETS
Italy’s main business lobby Confindustria on Tuesday called for a temporary suspension of the EU carbon market and for climate policy proposals to be revised, a sign of increasing pressure on business amid surging energy costs and the heightened risk of gas supply cuts from Russia.
Read MoreCOMMENT: Higher carbon prices – is speculation truly to blame?
The higher EU ETS carbon prices of the last three months have caused cross-sectoral concern. Many are placing unsubstantiated blame on speculative trading. But with speculation a minor problem at best, Agnese Ruggiero of Carbon Market Watch asks whether flooding the market with more carbon allowances is a solution or a dangerously reckless move.
Read MoreIPCC scientists outline need for world to adapt now to warming
Nearly half the world is highly vulnerable to severe climate risks that in some cases are irreversible, the UN-backed IPCC scientific panel said in a landmark report published on Monday.
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