Brussels caps 2027 ETS2 carbon allowances in line with planned emissions decline
The European Commission will cap the number of carbon permits in the incoming trading scheme for transport and buildings at just over 1 billion in 2027, in line with a gradual reduction of emissions under existing measures.
Read MoreHigh cost of carbon removals may conflict with energy security, economic pressures -report
The high cost of engineered carbon removals may come increasingly at odds with government priorities to ensure energy security and affordability, requiring greater international cooperation in developing the novel technologies and reducing reliance on them, a research paper warned on Thursday.
Read MoreUK pledges nearly £2 bln for development, on heels of new global climate finance goal
The UK will put £1.98 billion over three years into the World Bank’s fund for the lowest-income countries, which the government said will unlock large volumes of investment from the private sector and other sources.
Read MoreBRIEFING: EU, North Africa forging new links to speed up renewables rollout
European and North African policymakers are hoping that a deepsea power cable across the Mediterranean will soon help to spread the region’s abundance of solar, wind, and hydropower across the EU – but technical, regulatory, and political challenges still abound.
Read MoreLimited risk of loan losses from new CO2 taxes, warns Danish central bank
Denmark’s incoming carbon tax for agriculture, combined with other risks from low-carbon transition, will result in higher impairment charges for some lenders, but most will see only limited impact, according to the country’s central bank.
Read MoreCOP29: Baku closes with frustration over new $300 bln climate finance goal, omission of fossil fuels
Wealthy countries will aim to shore up $300 billion per year of climate finance by 2035, as the core part of a global annual economy-wide target of $1.3 trillion, under a contentious agreement struck early Sunday morning at the close of COP29.
Read MoreCOP29: ‘Empty place-holder’ – Countries under pressure to set climate finance goal, amid worry and dismay
The COP29 global climate summit enters its last day on Friday amid widespread frustration surrounding negotiations over a new global climate finance target, as a headline sum is yet to emerge.
Read MoreDeveloping new oil and gas fields can help cut emissions, Wood Mackenzie argues
New oil and gas fields are less carbon-intensive than old ones because they use state-of-the-art technology, providing significant decarbonisation gains, consultancy Wood Mackenzie said in a new report published on Thursday.
Read MoreStartups urge govt to turn UK into a voluntary carbon hub
The UK could become a global hub for carbon market startups, building on the £790 million the sector has already raised — if the British government gets behind to boost the voluntary carbon market’s growth, according to a report published on Wednesday.
Read MoreCOP29: Azerbaijan urges ministers to bridge differences in last stretch of talks
Azerbaijan’s COP29 presidency has urged ministers to speed up their negotiations on the new global climate finance goal and next steps for cutting greenhouse gas emissions, as major sticking points persist in the final days of the summit.
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