EU’s Von der Leyen proposes Dutch foreign minister for climate role
European Commission President Ursula Von der Leyen on Tuesday proposed Dutch deputy prime minister and foreign minister Wopke Hoekstra as the next EU climate commissioner, following an interview with the candidate put forth by the outgoing Dutch coalition government.
Read MoreGovernments spend record amount in fossil fuel subsidies in 2022 -IMF
Governments spent a record $7 trillion in fossil fuel subsidies in 2022, the International Monetary Fund (IMF) has calculated, more than governments spent annually on education and about two thirds of what they spent on healthcare.
Read MoreGreen groups challenge EU to ramp up its 2030 emissions target to 65%
Green groups have challenged the European Commission to revise upwards its 2030 emissions target to at least 65% compared to 1990 levels instead of the current 55%, submitting a request to the EU executive to review its legal text on annual emissions allocations for sectors outside the current EU ETS this week.
Read MoreSouth Africa strikes deal with China to upgrade its electricity network, putting coal exit in doubt
South Africa signed a series of deals with China to upgrade its energy sector at the BRICS summit this week, including one contract that could help to extend the life of South Africa’s coal plants.
Read MoreEU climate chief officially resigns, with former energy boss Sefcovic named as replacement
EU climate chief Frans Timmermans officially handed in his much-anticipated resignation on Tuesday, with the European Commission temporarily handing responsibilities for the European Green Deal and climate action files to Commissioner Maros Sefcovic.
Read MoreTwo ports in North Africa identified as possible carbon leakage hotspots for ships
Two ports in Northern Africa have experienced a jump in activity in the past year in what may be a pre-emptive attempt by ship operators to avoid purchasing EU carbon allowances once the shipping sector is part of the EU ETS in 2024, a piece of additional draft legislation by the European Commission has outlined.
Read MoreEEX needs EU antitrust green light for Nasdaq deal -EU
German-headquartered European Energy Exchange (EEX) will require the green light from the EU’s antitrust authorities to acquire Nasdaq’s European power trading and clearing business, the European Commission said on Monday.
Read MoreCargill-chartered ship makes its first trip with massive, fuel-saving and emissions-slashing sails
Commodity giant Cargill has applied two 37.5 meter high sails on one of its ships that could reduce fuel consumption and CO2 emissions by 30% on an average trip, paving the way for the technology to be used worldwide and reduce the global shipping fleet’s carbon footprint.
Read MoreANALYSIS: Prepare for takeoff – EU airlines start to get ready for the end of free emission allowances
The phaseout of EU ETS free allocation for the aviation sector by 2026 is prompting some airlines to already hedge their emission allowance position for 2024 and beyond.
Read MoreEU shipping sector’s emissions likely to flat-line in 2024, adding bearish pressure to EUA prices -analysts
Greenhouse gas emissions from the EU’s shipping sector are not likely to reach 2019 levels for the next two years due to lower demand for shipping services as well as the sector’s decarbonisation efforts, analysts predict, exerting additional downward pressure to an already bearish outlook for EUA prices in 2024.
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