FEATURE: Companies see EU ETS rule tweak kickstarting carbon storage in buildings
Companies are counting on an under-the-radar tweak to EU ETS rules to kickstart projects to store carbon permanently in buildings, with the incentive to shave carbon costs enough to get going without needing to rely on fledgling efforts to generate carbon credits from removals.
Read MoreInternational ‘climate club’ to launch at COP28 conference, says EU climate chief
An international climate club for governments will be officially launched at the beginning of December at the COP28 UN climate conference in Dubai, with a particular focus on industrial decarbonisation, the EU’s top climate official Kurt Vandenberge told a conference on Wednesday.
Read MoreEU member state negotiators agree on CCS, paving the way for EU inter-institutional talks
Negotiators on behalf of the 27 EU member states agreed on carbon capture targets and obligations on Monday as part of the bloc’s legislative proposal to accelerate the EU’s clean technologies, according to a source close to the matter.
Read MoreEU says it will announce considerable contribution for climate damage fund
The EU’s climate chief announced on Monday that the bloc will contribute a “substantial” amount to a new fund for climate mitigation and adaptation as well as allocate further funding for renewables and energy efficiency on Monday.
Read MoreGerman coalition government agrees relief package for electricity-intensive companies
Germany’s three-party coalition government agreed on an additional five-year package to extend relief for the nation’s EU ETS-covered industry struggling with high electricity prices, it announced on Thursday.
Read MoreUN seabed authority reaches no conclusion on deep-sea mining rules despite mounting support for ban
The UN body responsible for the world’s seabed continued to hold discussions on a mining code for the extraction of precious minerals from the deep sea up to the last day of its Council meeting on Wednesday but failed to finalise them, as a Canadian miner announced on the same day that it would continue tests in the Pacific Ocean.
Read MoreEU’s carbon border plans force companies to disclose ‘trade secrets’, says industry
Companies and non-EU governments impacted by the EU’s carbon border adjustment mechanism (CBAM) said the legislation is forcing them to disclose ‘trade secrets’ about their supply chains, and that the lack of regulatory detail is hindering their ability to prepare, an event in Brussels heard on Wednesday, as a Turkish official confirmed that the nation plans to launch an ETS next year.
Read MoreEU lawmakers seek to push member states on COP28 stance
Members of the European Parliament’s environment committee resoundingly agreed climate action should be accelerated in all sectors to meet the Paris Agreement goals and called for and end to fossil fuel subsidies by latest 2025, in a vote on their demands for the COP28 UN climate conference on Tuesday.
Read MoreOnly 5% of listed companies disclose measurable climate plans -report
An analysis of over 1,000 publicly listed companies worldwide shows that only one in 20 discloses quantified plans on how they will meet their greenhouse gas targets, a leading British university’s research centre found.
Read MoreCorporate net zero targets on the rise, but most not Paris-aligned -report
The number of publicly-listed companies setting a net zero emissions target has risen by 40% compared to a little more than a year ago, according to a global analysis published on Monday by a research consortium that includes the UK’s University of Oxford, but only 4% of these targets are aligned with the Paris Agreement.
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