FEATURE: EU shipping sector explores compliance options as new rules push up carbon costs in 2025
Shipping companies are grappling to find the best way to comply with the EU’s new fuel intensity regulation, as the sector’s exposure to carbon policies more than doubles this year, and biofuels emerge as the most popular option.
Read MoreBP to further scale back green investments, amid wider oil industry retreat from clean energy
BP has become the latest large fossil fuel company to announce a step away from investment in green energy, following a string of recent announcements from oil and gas producers reigning in climate targets.
Read MoreEuropean exchange clinches deal with CDR marketplace to build multi-year portfolio
A European financial exchange operator has entered into an agreement with a specialised carbon removal (CDR) marketplace and infrastructure provider that will develop a multi-year durable carbon portfolio, the companies announced on Tuesday.
Read MoreBrussels urged to submit 2035 climate target to the UN “as soon as possible”
The EU has an obligation to submit a 2035 climate target to the UN “well before” the COP30 climate summit in November, said a senior European Parliament member from the ruling European People’s Party (EPP) – putting pressure on Brussels to deliver “as soon as possible”.
Read MoreEU’s NDC stuck in limbo, pending agreement on 2040 climate target
The European Commission says its forthcoming 2040 climate plan will “inform” the bloc’s next Paris Agreement commitment for 2035, but questions persist on how the figure will be decided, as no method has yet been agreed or even discussed publicly.
Read MoreDATA DIVE: UN postpones 2035 NDC deadline after few countries submit plans on time
The UN has pushed the deadline for the submission of new Nationally Determined Contributions (NDCs) to September, after just a handful of countries sent them in ahead of the initial date of Feb. 10.
Read MoreEU plans to exempt more than 80% of companies from CBAM compliance
The European Commission wants to raise the threshold of the EU’s new carbon border tax, a source from the bloc’s executive confirmed, freeing more than 80% of the eligible companies from reporting requirements.
Read MoreMore clarity needed on implementation of EU carbon removal regulation -IETA
International emission trading association IETA has said more clarity is needed on how the EU’s Carbon Removals and Carbon Farming (CRCF) regulation will be implemented in a paper published Thursday.
Read More“Urgent change in gear” needed for EU’s cleantech sector, industry says
“An urgent change in gear” is needed to ensure the EU’s cleantech sector grows at the same time as the bloc decarbonises, a coalition of industry and think tanks said on Wednesday ahead of the European Commission’s much-awaited Clean Industrial Deal initiative.
Read MoreLNG ships drive methane higher, as CO2 emissions also rise -EU agencies
Some progress has been made but reducing CO2 remains a challenge for European shipping, while the increased use of LNG-fueled vessels has led sectoral methane emissions to at least double in the past five years, a joint environmental study by two EU agencies found on Tuesday.
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