German steelmaker reports robust quarter but 13% drop in sales year-on-year
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 MoreEU greenlights state aid for Germany’s energy-intensive fuel companies at risk of carbon leakage
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 MoreUK to host international energy security conference in spring 2024
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 MoreBiodiversity poised to become more important selection criteria in offshore wind power projects -industry
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 MoreGermany’s new ‘hydrogen-ready’ gas units to lead to emissions bump, say analysts
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 MoreAsset managers far off track from meeting 2050 net zero commitments with US performing the worst -report
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 MoreCross-border loans a key driver of coal investment in Global South, with risk of same trend emerging for gas -report
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 MoreNordic nations top MIT’s annual ranking for progress towards a low-carbon future
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 MoreListed companies to face new EU climate disclosure reporting rules from next year
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 MoreEU steps up climate diplomacy with the Philippines
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