EU 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.
Read MoreEU member states signal backing for obligation on oil and gas sector to build up bloc’s CCS infrastructure
The Council of EU member states is firming up its largely favourable position on whether to obligate oil and gas firms to fund the bloc’s CCS infrastructure as part of the bloc’s Net Zero Industry Act, with Denmark and the Netherlands wanting to include provisions that would also safeguard non-oil and gas ‘front-runner’ companies.
Read MoreFinland’s last coal plant to be used in country’s emergency power reserve
Finland’s emergency power reserve agency signed an agreement with energy company Fortum to use the firm’s coal-fired plant in case of severe supply power disruption for two years from March 2024, Fortum said in a statement on Monday.
Read MoreEU takes stock of its climate progress since Paris Agreement with tepid optimism
Levels of optimism on whether the EU is on the right track eight years on from signing of the Paris Agreement diverged amongst key climate stakeholders at an event in Brussels on Friday, as the experts prepared for this year’s UN negotiations where they deem it crucial to secure a global fossil fuel phaseout commitment.
Read MoreEuropean Commission seeks opinion on which carbon removal methodology to develop first
The European Commission is open to feedback on which carbon removal methodologies it should focus on developing first, according to an official speaking on Thursday at the close of a two-day forum focused on designing blueprints to credit industrial carbon removals.
Read MoreEU’s carbon removal methodologies will be “vital” for global industry, experts hear
The EU’s role in developing robust methodologies for carbon removals as a way to scale up the market and build trust in the nascent industry was highlighted by international players at a forum in Brussels on Wednesday that focused on designing direct air capture (DAC) and bioenergy with carbon capture (BECCS) methodologies.
Read MoreEU’s carbon removal certification bill passes first Parliament step with wide support
The EU’s first draft legislation defining a framework for certifying carbon removals was backed almost unanimously during a vote in the European Parliament’s cross-party environment committee on Tuesday.
Read MoreEU carbon removal bill set to pass first Parliament hurdle as lawmakers keep options open
The EU’s first draft legislation defining a framework for certifying carbon removals is set to pass comfortably in Tuesday’s vote in the European Parliament’s cross-party environment committee, according to multiple sources close to the file, with lawmakers supportive of enabling a wide range of methods to be deployed.
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