EU’s lawmakers lack cohesive view as they take stock of COP26
Members of the European Parliament put little pressure on the EU to raise its climate ambition further in a disjoined debate on Wednesday, with some lawmakers insisting China needs to do more to cut its emissions while others said the bloc must set a better example.
Read MoreANALYSIS: US-led release of oil reserves defies carbon pricing push
The US-led release of millions of barrels of oil from strategic reserves by major consumer nations this week goes in the opposite direction to what climate experts say will help shift the world off fossil fuels.
Read MoreGermany floats €60 CO2 price floor if Brussels fails to act
Germany’s newly-formed coalition government has provisionally agreed a deal to introduce conditional national measures to ensure the carbon price applied to its emitters under the EU ETS will not fall below €60 in the long term, according to a document published on Wednesday.
Read MoreTech firms eye large-scale DAC project off coast of Norway
A group of technology companies have begun work on a large-scale direct air capture (DAC) facility that could capture and store as much as 1 MtCO2 annually off the coast of western Norway.
Read MoreFew energy companies, electric utilities aligned with 1.5C, research finds
Only 10% of the world’s largest 140 energy companies have 2050 climate targets aligned with a 1.5C global warming pathway, according to the first assessment of energy transition plans since the COP26 Glasgow UN climate negotiations published on Wednesday.
Read MoreEU lawmakers get to grips with bumper climate package
EU lawmakers are making steady progress in scrutinising the mammoth ‘Fit for 55’ climate policy package, with observers noting that early work is advancing in what is expected to be a lengthy process.
Read MoreEuro Markets: EUAs have biggest daily drop since Nov. 1 as energy markets post gains
EUAs consolidated around the previous day’s settlement price on Tuesday morning as energy markets posted strong gains amid news of additional US sanctions against the Nord Stream 2 pipeline.
Read MoreAustralia, Germany to kickstart bilateral funding for new hydrogen projects
Australia and Germany will push forward with their bilateral hydrogen accord by allocating from early 2022 $90 million of jointly committed funds for new hydrogen projects, Australia’s energy and emissions reduction minister, Angus Taylor, announced on Tuesday.
Read MoreVCM Report: VERs ride COP26, crypto wave to new all-time highs
Voluntary emissions reduction (VER) values on the over-the-counter and exchange-traded markets extended their year-long bull run this week, with voluntary carbon market (VCM) participants citing optimistic outlooks following the COP26 UN climate summit and blockchain ventures in driving up prices.
Read MoreSeveral nations baulk at 2050 net zero shipping goal as IMO talks resume
Several countries attempted to block efforts to raise the shipping sector’s emissions target to a 2050 net zero goal on Monday, as week-long talks begin at the UN’s International Maritime Organization (IMO).
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