France’s Credit Agricole to exit precious metals trading in shift towards carbon markets -reports
Credit Agricole, France’s second-largest listed bank, will exit precious metals trading to focus on regulated carbon markets starting from 2025, according to media reports.
Read MoreBelgian auto workers protests highlight obstacles to zero-emission cars
Audi employees in Brussels took to the streets on Monday, saying their jobs are being threatened by changes in the auto industry, illustrating the difficulties European car manufacturers face in balancing the shift to electric and ensure a just transition.
Read MoreEuro Markets: EUAs drop to five-month low amid sustained selling, ignoring record auction premium
EU carbon permit prices dropped to a five-month low on Monday afternoon, ignoring the largest-ever premium for a daily auction amid reported demand from options hedging, as sellers continued to lay siege to the market, and gas and power dropped to a seven-week and five-month lows respectively.
Read MoreLATAM Roundup: Colombia proposes carbon tax hike, Brazilian markets press forward
Colombia continued its push to move past years of carbon pricing stagnancy, Brazil saw cause for optimism in its voluntary and compliance markets, and Microsoft went shopping for carbon removal (CDR) credits in Mexico during the week ending Sep. 15.
Read MoreVCM Report: Signs of life as traders mop up cheap Southern Cardamom carbon credits
Liquidity and some voluntary carbon prices started to edge higher last week in the over-counter-market amid rising chatter of deal talk and corporate orders.
Read MoreFEATURE: Parties probe Article 6 ‘floor price’ but experts doubt formal rollout
Some countries, notably in Africa, are said to be pushing to establish a minimum price for the sale of Article 6 credits, although experts doubt that any widespread policy could realistically be implemented as the idea remains abstract, backed informally by just a few parties.
Read MoreNet zero a ‘vast challenge’ with EU, US to miss NDCs, say analysts
The EU and US are on track to miss their 2030 UN climate targets, and achieving net zero by the middle of the century is now a “vast challenge”, according to a new energy transition outlook published Monday.
Read MoreMorocco to fulfil carbon tax, fossil fuel levy promises in 2025
The Moroccan finance ministry has presented a bill to launch a carbon tax in 2025 and lay the groundwork for an increase in value-added tax (VAT) on fossil fuels, following up on international promises to reform its system of environmental levies.
Read More‘Climate funding cliff’: 2.7% of EU GDP needed every year to reach net zero -study
Reaching climate neutrality will require additional investments worth at least 2.7% of the EU’s Gross Domestic Product (GDP) – or €462 billion at today’s rate – every year throughout this decade, according to new research published on Monday, which warns against a looming EU “climate funding cliff”.
Read MoreAustralian cattle body seeks to exempt agricultural lands from EU deforestation rules
An Australian cattle industry lobby group has released its definition of deforestation, in an attempt to seek exemptions for agricultural lands from upcoming EU rules.
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