COP26: Over 100 forest nations pledge to end deforestation by 2030
Over 100 forest-rich nations have committed to “halt and reverse forest loss and land degradation” by the end of the decade, with the action set to be funded by almost £14 billion in public and private sources, the UK is set to announce at the COP26 summit in Glasgow on Tuesday.
Read MoreUS, EU strike metals tariff deal viewed as move towards sectoral climate ‘club’
The US and the EU on Sunday agreed to end Trump-era tariffs on steel and aluminium and vowed to work towards a broader global arrangement that would penalise countries that don’t meet low-carbon targets.
Read MoreUtility RWE sees ETS-covered emissions rise nearly 24%
Germany-based utility RWE, the EU’s top corporate emitter, reported a 23.5% jump in its ETS-covered thermal power output for the first nine months of the year, it said late Thursday.
Read MoreUK unveils plans for mandatory climate risk disclosures from next year
Large British companies will be forced to report their climate-related risks from next year, according to government plans unveiled on Thursday that would make the UK the world’s first nation to impose detailed mandatory disclosures.
Read MoreVoluntary initiative sticks to hard line on offsetting in corporate net zero goals
Companies must halve their emissions by 2030 and cut them 90-95% under 2015 levels before 2050 to meet net zero emissions targets endorsed by the Science-Based Targets initiative (SBTi), with only the remaining output in the longer-term goal neutralised through carbon removals.
Read MoreUK keeps carbon price floor in place for another year
The UK will maintain over fiscal 2023-24 its freeze on the rate of its Carbon Price Support tax on power sector CO2 emissions, the finance ministry said in its budget on Wednesday, while cutting fuel duty on domestic flights and cancelling a planned rate rise for cars.
Read MoreEU emissions drop 10% amid pandemic restrictions as renewables rise to top
EU greenhouse gas emissions fell 10% in 2020 as pandemic restrictions curbed factory and transport output, while renewables overtook fossil fuels for the first time in the bloc’s power mix.
Read MoreBY THE NUMBERS: A snapshot of the EU ETS – 2020-21 edition
The European Commission on Tuesday released its annual report on the functioning of the EU ETS, which covered the market’s developments in 2020 and into 2021.
Read MoreSpain refines ideas to curb EU ETS speculation, EU remains split on energy market action
Spain has unveiled several ideas for curbing EU ETS speculation as part of wider proposals to reform the bloc’s energy market, with Madrid urging the EU to explore the plans as part of its work to amend the Fit for 55 climate policy package.
Read MoreResearchers find CDM transition unlikely to raise ambition, as Brazil shifts stance
Few CDM projects could deliver genuine abatement if allowed to transition into the Paris Agreement regime though scant pre-2020 credits may be available anyway, researchers found, as pro-transition Brazil has reportedly softened on insisting on a carryover.
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