UN chief warns Davos on climate inaction, global risks
UN Secretary General Antonio Guterres told the World Economic Forum (WEF) on Monday that there is no sign that governments are planning to effectively manage climate risks, urging the private sector to step up efforts and avoid greenwashing well ahead of November’s COP27 UN climate talks in Egypt.
Read MoreKey EU lawmaker plans to propose steps to curb carbon market “manipulation”
The EU lawmaker steering ETS reform is working on measures to prevent carbon market “manipulation”, he said on Friday, vowing to ensure such steps don’t punish companies with emissions obligations.
Read MoreRebound in demand saw global electricity emissions spike by 7% in 2021, IEA says
Strong growth in global electricity demand of 6% in 2021, brought about by the recovery of global GDP from the Covid-19 induced slump from the year before and extreme weather conditions, saw electricity CO2 emissions spike by nearly 7% to reach a record level in the year of COP26, the International Energy Agency (IEA) stated on Friday.
Read MoreMaersk brings forward net zero ambition to 2040, sets new interim emissions target
Danish shipping giant Maersk has accelerated its net zero emissions target by a decade to 2040, and has set a more ambitious interim emissions goal to be reached by 2030.
Read MoreUN teams up with second exchange to promote CDM credit sales to voluntary market
The UN’s climate change agency has partnered with a second carbon exchange to drive sales of carbon credits issued under its Kyoto-era Clean Development Mechanism (CDM) to the voluntary carbon market, as the international offsetting scheme readies its transition under the Paris Agreement.
Read MoreCarbon Pulse increases European, voluntary carbon market coverage with new hire
Carbon Pulse is enhancing its coverage of the European and voluntary carbon markets with another new hire.
Read MoreDespite COP26 boasts, UK lawmakers question government’s delivery on domestic climate plans
COP26 President-Designate Alok Sharma touted the UK’s strong delivery of the UN Glasgow climate talks on Monday, but was forced to defend his government’s credibility on domestic climate action amid lawmaker doubts about how well measures are coordinated across departments.
Read MoreCarbon offset prices could surge fifty-fold by 2050, report says
The price of carbon offsets will surge over the next few decades to $47-120 per tonne by 2050, up from around $2.50 in 2020, according to report from an energy research firm released on Monday.
Read MoreGlobal coal generation to bounce back from last year’s Covid-19 slump to reach all time high in 2021, IEA says
Global power generation from coal will rebound to an all-time high this year, driven by a worldwide economic recovery causing electricity demand to accelerate at a rate faster than low carbon sources of energy can keep up with, the International Energy Agency (IEA) said in a report on Friday.
Read MoreWoodside announces $5 bln outlay by 2030 in bid to build low carbon portfolio
Australian LNG player Woodside will spend $5 billion in “emerging new energy markets” by 2030 as it seeks to position the oil and gas company to support the decarbonisation goals of its customers, CEO Meg O’Neill announced in an investor update on Wednesday.
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