PREVIEW: The climate tests awaiting EU commissioners-designate in Parliament hearings
From clean industrialisation, to money, to the justness of the energy transition, to the depth of emissions cuts — the two European Commission candidates most responsible for climate action are preparing to be grilled by parliamentarians on how they expect the EU’s next era of climate policy.
Read MoreEuro Markets: EUAs lose 4.6% on the week after indecisive Friday sees all energy markets weaken
European carbon prices posted a 4.6% weekly loss after a day of indecision on Friday as energy markets weakened while traders waited for more information on reports that EU buyers were near to an agreement to buy gas from Azerbaijan, replacing lost volumes from Russia.
Read MoreClimate damages have been underpriced within financial system, finds paper
Climate damages have been systematically underpriced within the global financial system, leading to a severe underestimation of the economic impact of global warming, according to a new paper presented Friday.
Read MoreINTERVIEW: German startup aims to take enhanced rock weathering from local to global
A German startup working with small farmers to remove carbon through enhanced rock weathering is planning to go global and launch its first projects outside Europe as soon as next year, its CEO told Carbon Pulse.
Read MoreAzerbaijan boosts decarbonisation target, considers carbon tax -media
COP29 host Azerbaijan has boosted its decarbonisation target and is considering the introduction of a carbon tax, said ministers at an Azerbaijani conference, according to local media.
Read MoreMost EU countries expected to fail under non-ETS obligations, need extra allocations
The majority of European countries are struggling to cut emissions from sectors outside of the EU ETS and risk needing extra permits, data shows.
Read MoreFII24: INTERVIEW – Global North compliance schemes should be open to Global South credits, says Kenyan DAC CEO
Compliance carbon markets in the Global North should be open to accepting high-quality carbon removal credits from Africa, with any argument to the contrary illogical, the CEO of a Kenyan direct air capture (DAC) project developer told Carbon Pulse.
Read MoreClimate adaptation significantly underfunded in low-income, low-emission countries -report
Climate finance flows from multilateral development banks (MDBs) are falling short on adaptation support for low-income, low-emission countries, according to a new report released on Thursday.
Read MoreEU power sector urges reforms to ETS, calls for more stability and investment in post-2030 transition
Europe’s power sector is calling on the EU strengthen its carbon market post-2030 to support to bloc’s climate ambitions, with a focus on improvements to market stability, allowance price predictability, and targeted investment, according to a position paper released on Thursday.
Read MoreEU market regulator pushes for clearer carbon allowance accounting in financial statements
The EU’s market regulator has called for listed companies to improve transparency and consistency in the accounting of carbon allowances, urging firms to follow best practices and disclose more information about their financial exposure to emissions-reduction commitments.
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