UK’s green industries looking to autumn finance statement for response to US and EU transition plans
UK-based green industries, from electric car chargers to solar panels, are looking to the finance minister’s autumn statement next week for a response to transition strategies elsewhere, particularly the US Inflation Reduction Act (IRA), and say that more potential investment will be lost without a strong government commitment.
Read MoreAcademics urge caution on UK’s setting of carbon removals goals, given uncertainties
The UK government’s climate policies rely on carbon removals but don’t sufficiently take into account the uncertainties involved in developing and scaling up the technologies, and this is distorting decision making, according to new academic research.
Read MoreGlobal fossil fuel output still outpacing climate pledges and must be tackled, says UN-backed report
The world is still on track to produce more than twice as much fossil fuel in 2030 than would align with the Paris Agreement to curb global warming, and unless governments tackle this by collaboratively phasing out production the gap will only widen, a UN-backed report warned on Wednesday.
Read MoreCarbonplace carbon credit transaction network unveils a series of partnerships
Carbonplace, a carbon credit transaction network developed by several global banks, said Tuesday it has signed a series of partnerships, among them a collaboration with carbon credit rating agency BeZero, whose ratings will be hosted on the fintech’s platform.
Read MoreUK government set to mandate annual oil and gas licensing rounds
The UK government is set to put into law annual licensing rounds for offshore oil and gas production, the Department for Energy Security and Net Zero has announced, provided tests are met that ensure facilities “support the transition to net zero”.
Read MoreAnalysts revise down expectations for EU ETS industrial emissions for 2023
EU ETS emissions from heavy industry are set to fall 7% in 2023 compared to a year earlier due to waning output particularly among steel and chemicals firms, analysis said in a report on Thursday that represented a substantial writing down of expectations set out earlier in the year.
Read MoreCampaign launches fresh drive to persuade big emitters to adopt science-based targets
FedEx, General Electric, and Rio Tinto are among companies mentioned by a campaign launched Wednesday that aims to persuade the highest corporate emitters of greenhouse gases to adopt science-based targets in line with the Paris Agreement.
Read MoreGovernment regulation is most important driver of energy transition for businesses, report finds
Most businesses around the world say government regulation is the most important driver when it comes to accelerating their own transition to cleaner energy, outweighing the impact of pressure from consumers and investors, according to a report released Tuesday.
Read MoreClimate tech investment drops 40% on the year, reflecting overall market conditions, says report
Investment in climate tech is down 40% on the year as economic uncertainty and geopolitical tensions dent investor confidence, according to research published Tuesday, though the report found that this is more a reflection of overall market conditions than a move away from climate tech.
Read MoreDevelopment banks’ climate finance reached record almost $100 billion in 2022 -report
Multilateral development banks provided worldwide climate finance of almost $100 billion in 2022, up from $82 bln in 2021, with a record more than $60 bln going to low and middle-income countries, according to a report released Thursday.
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