EU ETS-backed fund disburses €2 bln for member states’ energy transition, cash for gas sneaks in
The EU is channeling an additional €2 billion of ETS revenues to decarbonise energy systems in nine EU member states, the Commission said on Wednesday, though some of that funding will go towards natural gas projects.
Read MoreUK launches plans to set up competitive carbon capture market by 2035
The UK government intends to launch a new domestic carbon capture, usage and storage (CCUS) market by 2035, it announced on Wednesday, furthering support for the process towards its aim of storing 20-30 million tonnes of CO2 a year by 2030.
Read MoreEU awards €65 mln from ETS-financed Innovation Fund to clean tech projects
The European Commission on Tuesday announced the results of the third call for small-scale projects under the bloc’s EU ETS-financed Innovation Fund, with €65 million being disbursed to 17 clean tech activities.
Read MoreGroup of seven European countries agree to decarbonise their power sectors by 2035
A group of seven European countries have agreed to jointly decarbonise their electricity systems by 2035, they announced late on Monday.
Read MoreEU-based forest carbon removal developer secures new funding
An Estonia-based carbon removal platform has obtained €5.5 millionin seed investment from a trio of venture capitalist investors, the start-up announced on Thursday.
Read MoreEU legislators agree on due diligence rules that force large companies to set climate neutrality plans
The European Parliament and Council of EU member states have reached a provisional deal on rules setting obligations for large companies to identify and remedy risks to the environment, human rights, and health arising from their value chain, including an obligation for companies to adopt Paris Agreement-aligned climate plans.
Read MoreEU co-legislators strike provisional deal to redesign the bloc’s electricity market
Co-legislators for the European Parliament and Council of member states struck a deal to reform the EU’s electricity market design early on Thursday morning, aiming to reform the market so as to shield citizens from higher energy prices and enable increased investments in renewable capacity.
Read MoreCOP28: Turkish ETS won’t be open to speculators initially and will feature a rising emissions cap -official
The Turkish ETS will not initially be open to non-compliance players and will feature a rising emissions cap rather than a decreasing one, the head of the government’s carbon pricing department told Carbon Pulse on the sidelines of COP28 in Dubai.
Read MoreCOP28: High-emitting Bulgarian coal plant to run until 2030 despite EU ruling -minister
Bulgaria’s environment minister expects one of the biggest coal power plants in the EU ETS to operate until 2030, despite the EU ruling that the plant exceeds pollution limits and therefore should be shuttered, he told Carbon Pulse on the sidelines of COP28.
Read MoreCOP28: Most UN summit announcements will not result in meaningful emissions cuts, says report
Most of the sectoral pledges announced during COP28 will not lead to a sufficient reduction in emissions to limit global warming by 1.5C, as many are already counted in national plans or lack sufficient ambition, a report published on Saturday found.
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