ETS2 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.
Read MoreAfrican Group, Russia talk “fair” climate action, bemoaning CBAM
The Kenyan chair of the African bloc of climate change negotiators recently visited Moscow to discuss international challenges including trade barriers such as the EU’s carbon border fee, and the outlook for the global carbon market, the group announced on Wednesday.
Read MoreUK govt recommends allowing emissions banking between ETS phases
The UK’s ETS Authority recommends allowing market participants to bank their emission allowances between the current first phase of the scheme and the second phase beginning in 2031, officials confirmed on a recent webinar.
Read MoreAfrican countries to map vast swathe of carbon-storing seagrass
An association of mostly African countries is mapping out seagrass across four countries, using satellite imagery and field verification to assess the carbon stock in the region, it announced on Monday.
Read More‘Age of Electricity’ rests on grid expansion, upgrades
Widespread electrification with clean power will make or break decarbonisation in the UK and around the world — but it can’t happen without speedy, and hefty, investments in grid upgrades within the decade, experts said this week.
Read MoreUK urged to target 87% emissions cut by 2040, fuelled by electrification
The UK should aim to cut emissions 87% by 2040 as part of its forthcoming Seventh Carbon Budget — a target that can be achieved with speedy action, especially to electrify heavy emitting sectors such as road transport and home heating, the Climate Change Committee (CCC) recommended on Wednesday.
Read MoreArticle 6 trading, rising standards helping to offset risks in voluntary carbon market -experts
The Paris Agreement’s new international carbon market regime, combined with the development of digital monitoring technologies and rising standards, is helping to rebalance the perception of risk in the voluntary carbon market, speakers told a conference on Tuesday.
Read More“We’re adjusting the speed a bit”: Oil majors say they’re sticking to net zero course
The oil and gas industry is sticking to its promises of decarbonisation, but having to adjust its pathway as it runs into complications ranging from high costs of renewables, access to projects and grids, to the slow development of carbon capture, executives said on Tuesday.
Read MoreUkraine approves roadmap for national ETS
Ukraine has approved a roadmap for setting up a national emissions trading system (ETS) – although it would not become fully operational until the country’s war-torn economy has recovered, the environment minister has announced.
Read MoreEU ETS insufficient to cut the cost of green shipping corridors before 2040s -report
A global fuel standard for shipping is not enough to bring down the cost of clean fuel maritime corridors, even when the effects of the EU ETS are added in, according to new research.
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