Net-Zero Banking Alliance looks to loosen climate commitments amid widespread departures
The world’s largest alliance of banks committed to reaching net zero emissions is set to vote on whether to walk back on its promises, following the departure of US banks after President Donald Trump’s election, the Financial Times reported.
Read MoreEU needs short-term incentives to pioneer carbon removal growth -think tank
The EU and Germany have an opportunity to pioneer innovative carbon removal policy, as the US appears set to reverse direction — but this will require short-term strategies for negative emissions, along with long-term goals, according to a German think tank.
Read MoreEU signs off on Innovation Fund grants for 77 decarbonisation projects
The developers of 77 decarbonisation projects signed agreements on Tuesday for grants of up to €262 million through the EU ETS-funded Innovation Fund, the European Commission announced.
Read MoreUK looks to speed up clean power grid connections with planning overhaul
A new UK law will push dozens of clean energy projects to the front of the queue for grid connections, supporting the country’s goal for clean power by 2030 and luring investments into low-carbon infrastructure, the government announced on Monday.
Read MoreCentral and Eastern Europe needs more funding to cut waste emissions -report
The EU is not allocating enough budget to help Central and Eastern European countries decarbonise their municipal waste, making it harder for them to catch up with the bloc’s environmental targets, according to a report published on Monday.
Read MoreBrazil emphasises forest conservation, climate finance needs in first COP30 letter
Brazilian COP30 President-Designate Andre Correa do Lago on Monday published his first open letter, emphasising forest conservation, pledging to create an advisory body of past COP presidencies, and highlighting the importance of international climate finance reform.
Read MoreBids in EU’s latest clean hydrogen auction quadruple the available budget
Bids to develop renewable hydrogen projects in the EU amounted to more than €4.8 billion — four times higher than the budget for the European Hydrogen Bank’s second auction, the European Commission announced on Friday.
Read MoreUS pulls funding from international loss and damage, energy transition programmes
The US has withdrawn from the UN’s Fund for Responding to Loss and Damage from climate change and the Just Energy Transition Partnership (JETP), a multi-billion-dollar initiative aimed at helping developing nations transition from coal to cleaner energy sources, the US Treasury Department announced this week.
Read MoreFree allowances in UK ETS mean polluters are failing to pay -report
The problem with the UK’s Emissions Trading Scheme (ETS) is that it doesn’t make the polluter pay, because it hands out too many free allowances, according to research released on Thursday.
Read MoreETS2 risks widening inequality, unless carbon revenues are redistributed -report
The EU’s new carbon market for road transport and buildings (ETS2) risks significantly deepening economic inequality across Europe — hitting parts of Eastern and Southern Europe the hardest — unless it is accompanied by strong redistribution measures, according to EU-funded research published on Wednesday.
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