Container ships have not become more energy efficient in years, NGO data reveals

Published 16:11 on November 28, 2024  /  Last updated at 16:11 on November 28, 2024  / /  EMEA, International, Shipping

Europe’s container ships have not improved their energy efficiency in six years, despite it being one of the easier options to reduce emissions in the sector, according to NGO analysis published on Thursday.

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EU timeframe for approval of applications to import CBAM goods is too long, industry groups say

Published 17:19 on November 27, 2024  /  Last updated at 17:19 on November 27, 2024  / /  Carbon Taxes, CBAM, EMEA, International, Japan, South Korea

The EU is proposing too long a timeframe for the approval of applications from companies looking to import goods subject to the Carbon Border Adjustment Mechanism (CBAM), according to feedback from industry associations and governments.

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European carbon prices to remain stable this winter, pick up in 2025 -analysts

Published 14:51 on November 27, 2024  /  Last updated at 14:51 on November 27, 2024  / /  Carbon Taxes, CBAM, EMEA, EU ETS

European carbon prices are likely to experience a relatively stable winter, with downside potential in the case of above-average temperatures, according to analysts at a bank.

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ANALYSIS: International carbon markets now “open for business” but patience needed before scale hits

Published 19:24 on November 26, 2024  /  Last updated at 19:24 on November 26, 2024  / , and /  Americas, Asia Pacific, Aviation/CORSIA, Climate Talks, EMEA, International, Kyoto Mechanisms, Nature-based, Paris Article 6, Voluntary

UN-approved international carbon markets are now ready to fully operationalise, following the landmark decision to finalise Article 6 in Baku, but questions over demand, and a robust methodological work programme scheduled for 2025, means it may take years until the planned implementation produces credit transactions at scale.

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COP29: Baku closes with frustration over new $300 bln climate finance goal, omission of fossil fuels

Published 23:15 on November 23, 2024  /  Last updated at 10:06 on November 24, 2024  / , , , , , , , and /  Americas, Asia Pacific, Climate Talks, EMEA, International

Wealthy countries will aim to shore up $300 billion per year of climate finance by 2035, as the core part of a global annual economy-wide target of $1.3 trillion, under a contentious agreement struck early Sunday morning at the close of COP29.

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COP29: New climate finance goal proposal offers $250 bln by 2035

Published 14:21 on November 22, 2024  /  Last updated at 18:09 on November 22, 2024  / , and /  Americas, Asia Pacific, Carbon Taxes, CBAM, Climate Talks, EMEA, International, Voluntary

A new climate finance goal of $250 billion by 2035 was proposed in a draft presidency text published on Friday at COP29, falling well below the $1.3 trillion figure requested by developing nations, while provisions that would encourage carbon markets were deleted.

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COP29: ‘Empty place-holder’ – Countries under pressure to set climate finance goal, amid worry and dismay

Published 16:10 on November 21, 2024  /  Last updated at 16:10 on November 21, 2024  / , , and /  Africa, Americas, Asia Pacific, Climate Talks, EMEA, International, Nature-based, Voluntary

The COP29 global climate summit enters its last day on Friday amid widespread frustration surrounding negotiations over a new global climate finance target, as a headline sum is yet to emerge.

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COP29: Fossil fuels transition dropped from hollowed-out deal on emission reductions

Published 12:44 on November 21, 2024  /  Last updated at 16:39 on November 21, 2024  / , , and /  Africa, Americas, Asia Pacific, Climate Talks, EMEA, International

Large, heavy-emitting economies appear to be winning the battle over if and how the COP29 summit should push forward on last year’s landmark commitment to transition away from fossil fuels — raising alarm bells for many in Baku.

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COP29: War causes 6% of global emissions, but is almost ignored by UN -research

Published 13:00 on November 19, 2024  /  Last updated at 13:00 on November 19, 2024  / /  Americas, Asia Pacific, Climate Talks, EMEA, International

Military conflicts account for around 5.5% of global emissions, yet countries are not obliged to report them under the UN climate body’s framework, research bodies highlighted at the COP29 climate summit in Baku, Azerbaijan.

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COP29: Voluntary carbon markets sneak into UN climate finance talks, to dismay of green groups

Published 16:04 on November 18, 2024  /  Last updated at 21:38 on November 18, 2024  / , , , , and /  Americas, Asia Pacific, Climate Talks, EMEA, International, Nature-based, Paris Article 6, Voluntary

A provision that “encourages” scaling voluntary carbon markets has been included in the latest text on climate finance at the COP29 global climate summit, though green groups and some developing countries are pushing hard against this language, citing integrity concerns.

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