EU publishes updated volume of ETS allowances to be auctioned for REPowerEU for next three years

Published 13:42 on July 31, 2023  /  Last updated at 16:27 on February 8, 2024  / /  EMEA, EU ETS

The European Commission has published a proposal for the bloc’s revised EU ETS auctioning regulation that features updated annual volumes to be auctioned for the REPowerEU energy security strategy, with some analysts saying the volume is higher than expected and therefore could be bearish for carbon prices.

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EU climate chief Timmermans to leave Commission to run in Dutch elections

Published 13:11 on July 20, 2023  /  Last updated at 00:01 on July 21, 2023  / /  EMEA, EU ETS

EU climate chief Frans Timmermans will leave the European Commission in mid-August to pursue a leadership bid of a new Greens-Socialist democrats party alliance in the Netherlands, he told Dutch public broadcaster NOS in in an interview Thursday morning.

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EU parliamentarians signal dismay at scrapping of EU-wide Sovereignty Fund for net zero industry

Published 17:20 on July 19, 2023  /  Last updated at 17:20 on July 19, 2023  / /  EMEA, EU ETS

The EU’s newly-proposed STEP funding platform for clean and digital technology will not meet the needs of the bloc’s industry amid increased competition from the US and China, lawmakers from across the political spectrum told a European Parliament hearing on Wednesday. 

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Green groups wary as Serbia releases patchy, weaker draft energy and climate plan

Published 17:53 on July 18, 2023  /  Last updated at 09:08 on July 19, 2023  / /  EMEA, EU ETS

Green groups have criticised Serbia’s draft national energy and climate plan (NECP) for not planning for carbon neutrality for 2050 and putting forward a less ambitious renewable energy goal than in previous publicly announced commitments.

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Faster-than-anticipated uptake in solar and electric vehicles shows policies are working -IEA

Published 18:47 on July 12, 2023  /  Last updated at 00:49 on July 13, 2023  / /  International

Solar panels and electric vehicle technology have expanded more rapidly than anticipated, according to the International Energy Agency (IEA)’s annual update, signalling that governments’ positive policy action and increased ambition is translating into measurable results in deploying clean technologies that could help in tackling climate change.

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Capturing carbon onboard ships could be viable mid-term solution to lower emissions -industry

Published 17:57 on July 12, 2023  /  Last updated at 18:26 on July 12, 2023  / /  Climate Talks, EMEA, EU ETS, International, Shipping, Voluntary

Capturing carbon onboard ships could be a mid-term step to reduce the maritime sector’s greenhouse gas (GHG) emissions while zero-emission fuels are not yet commercially available, according to a  panel of industry experts speaking on Wednesday, though one panellist warned that the sector’s carbon accounting needs to improve before such technologies are adopted .

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Coalition of cargo owners pool demand for zero-emission solutions by 2025

Published 19:34 on July 11, 2023  /  Last updated at 19:34 on July 11, 2023  / /  Shipping, Voluntary

A coalition of large cargo owners, including the world’s largest online retailer Amazon, announced it is pooling demand to request zero-emission shipping services by 2025, it said in a statement on Tuesday.

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EU proposes a greater shift to rail freight to help cut emissions

Published 16:11 on July 11, 2023  /  Last updated at 16:18 on July 11, 2023  / /  EMEA, EU ETS

The EU’s executive arm is aiming to make the transport of goods more efficient and sustainable via a new proposal it announced on Tuesday, despite a number of the bloc’s leaders and parliamentarians calling for a pause in green legislation.

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Private sector commits $2 billion in climate finance under UK-US initiative

Published 14:48 on July 11, 2023  /  Last updated at 09:34 on December 2, 2023  / /  Climate Talks, EMEA, International, US

Companies, financiers, and philanthropists announced a collective $2 billion in investments in energy transition, climate resilience, and nature-based solutions projects in emerging markets at a joint US-UK gathering this week.

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IMO adopts more ambitious GHG targets for global shipping sector

Published 11:58 on July 7, 2023  /  Last updated at 10:03 on July 8, 2023  / /  Climate Talks, International, Shipping

The UN’s International Maritime Organisation formally adopted a revised greenhouse gas strategy on Friday, more ambitious than its 2018 version but still adrift from aligning the sector with Paris Agreement climate objectives.

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