German steelmaker reports robust quarter but 13% drop in sales year-on-year

Published 17:06 on August 10, 2023  /  Last updated at 17:06 on August 10, 2023  / /  EMEA, EU ETS

German steelmaker Thyssenkrupp reported a 13% year-on-year drop in quarterly global sales amid lower prices, though it said it was targeting the upper range of its full-year forecast after a “robust” quarter in its financial results on Thursday.

Read More

EU greenlights state aid for Germany’s energy-intensive fuel companies at risk of carbon leakage

Published 14:24 on August 10, 2023  /  Last updated at 14:24 on August 10, 2023  / /  EMEA, EU ETS

Germany’s energy-intensive companies that are part of the domestic fuel emissions trading system will be partially compensated for any risk of carbon leakage caused by higher fuel prices, as the European Commission approved the €6.5 billion scheme on Thursday.

Read More

UK to host international energy security conference in spring 2024

Published 10:44 on August 10, 2023  /  Last updated at 10:47 on August 10, 2023  / /  Climate Talks, International, UK ETS

The UK energy secretary Grant Shapps announced plans to host an international summit on energy security in spring 2024, stressing the need to diversify from fossil fuels and hit climate goals.

Read More

Biodiversity poised to become more important selection criteria in offshore wind power projects -industry

Published 16:26 on August 9, 2023  /  Last updated at 16:26 on August 9, 2023  / /  Biodiversity, EMEA

As lower costs and less need for government subsidies are sparking rapid growth in the offshore wind power sector, biodiversity considerations are likely to become decisive factors in the project selection process, according to industry stakeholders.

Read More

Germany’s new ‘hydrogen-ready’ gas units to lead to emissions bump, say analysts

Published 17:29 on August 4, 2023  /  Last updated at 17:29 on August 4, 2023  / /  EMEA, EU ETS

Germany’s plan to tender 24 GW of hydrogen and fossil gas units from 2024 could lead to the release of almost 5 MtCO2 emissions per year as industry is expected to take time to build a low-carbon hydrogen supply chain, analysts told Carbon Pulse.

Read More

Asset managers far off track from meeting 2050 net zero commitments with US performing the worst -report

Published 16:58 on August 3, 2023  /  Last updated at 16:59 on August 3, 2023  / /  International, Voluntary

US asset managers’ climate ambition appears to have decreased since 2021, coinciding with a recent ‘anti-ESG’ trend in some parts of the country, although globally, firms are also far from being aligned to the Paris Agreement, a think-tank has revealed in its latest report.

Read More

Cross-border loans a key driver of coal investment in Global South, with risk of same trend emerging for gas -report

Published 18:47 on August 2, 2023  /  Last updated at 19:57 on August 2, 2023  / /  Asia Pacific, China, International, Japan, South Korea

Cross-border loans from public banks could become a key driver of investment in gas-fired power plants in the Global South, researchers said in a report published on Wednesday that flagged signs of interest in fossil fuel financing caused by Russia’s war of aggression against Ukraine. 

Read More

Nordic nations top MIT’s annual ranking for progress towards a low-carbon future

Published 16:37 on August 1, 2023  /  Last updated at 16:38 on August 1, 2023  / /  EMEA, International

Nordic nations dominate the top of a green technology index produced by the Massachusetts Institute of Technology (MIT) Review published on Tuesday and ranking 76 nations and territories on their progress toward a sustainable and low-carbon future.

Read More

Listed companies to face new EU climate disclosure reporting rules from next year

Published 15:13 on August 1, 2023  /  Last updated at 15:13 on August 1, 2023  / /  EMEA, Voluntary

The European Commission has adopted rules that will eventually require all listed companies operating in the EU to disclose their impact on the environment and how the climate affects their operations.

Read More

EU steps up climate diplomacy with the Philippines

Published 18:05 on July 31, 2023  /  Last updated at 18:05 on July 31, 2023  / /  Asia Pacific, EMEA, International

The EU will commit €466 million to green initiatives in the Philippines and relaunch negotiations for a free trade agreement with the Southeast Asian country, the European Commission announced on Monday.

Read More