Utility Vattenfall ups 2030 emissions reduction target in 1.5C-alignment
Sweden-controlled utility Vattenfall has pledged to phase out coal by 2030 as part of a ramping up of its voluntary emissions reduction pledge designed to align with a 1.5C global warming scenario.
Read MoreFinland’s government to ease path for voluntary offsetting, ETS plans on hold
Finland’s government on Thursday moved to exempt voluntary offset trade from a law that restricted the practice to charities, a move expected to boost corporate buying and potentially spurring further requirements for corresponding adjustments for domestic carbon-cutting projects.
Read MoreEU chief urges China to raise 2030 emissions pledge, proposes climate aid increase
China should raise its near-term emissions pledge while others need to flesh out how their goals will be met, said European Commission President Ursula von der Leyen on Wednesday, proposing an increase in the EU’s climate finance to poorer nations.
Read MoreEuropean steelmakers risk stranded assets within years as emissions budget nears exhaustion -report
European steelmakers must accelerate their low-carbon transition as their emissions budget to 2050 nears exhaustion, according to a report published Tuesday that found Turkish and former Soviet producers most at risk of holding stranded assets.
Read MoreEnergy price spike no reason to let climate plans slip, says EU climate chief
Sky-high European energy prices must not get in way of the EU’s climate action but rather spur the bloc to accelerate the low-carbon transition, EU climate chief Frans Timmermans told the European Parliament on Tuesday.
Read MoreEU lawmakers wary of CO2 cost hit to poor people, urge speedier end to free allocations
A proposed new European carbon market for buildings and transport could hit the poorest the hardest, MEPs said in a hearing on Thursday, with several calling for a faster phaseout of free EU carbon allocations for industry and airlines under the bloc’s main ETS.
Read MoreEuro Markets: Carbon eases despite power, gas carving new highs
EUAs eased on Tuesday, bucking more gains in key gas and power markets and failing to retest yesterday’s record high.
Read MoreWary of EU move, shipping industry proposes additional global CO2 levy
Leading shipping associations have proposed creating a global levy on emissions from ships, seeking a level playing field as the EU advances its plans to regulate the sector’s climate impact.
Read MoreVCM Report: Investors seen driving prices to new heights as CORSIA credits surpass nature units
CORSIA-eligible credit prices have exceeded their nature-based counterparts as prices hit fresh records in the past week, as the investors seen fuelling the rises judge the units to be a safer bet.
Read MoreMEPs jostle for key EU climate policy files as ETS reform process kicks off
EU lawmakers are jostling to gain control of the European Parliament’s scrutiny of the mammoth ‘Fit for 55’ climate package, with the centre-right EPP political group set to steer the main EU ETS reform elements.
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