Fossil fuel companies face rising lawsuits to compensate for climate damage, misleading adverts -report
The number of cases filed each year against fossil fuel companies including BP, Shell, and Chevron has nearly tripled since the Paris Agreement, with cases linked to climate damages, misleading advertising, and emissions reduction growing significantly over the period, according to a new report.
Read MoreDAC developer signs $3 mln engineering agreement for Louisiana project
A direct air capture (DAC) developer on Wednesday announced a $3 million phased commercial agreement with global partners to launch engineering studies and potentially supply CO2 removal (CDR) credits from a Louisiana project.
Read MoreGermany unveils long-awaited tender plans for new gas power plants
The construction of 5 GW and modernisation of 2 GW of “hydrogen-ready” gas power plants could start being put out to tender in Q1 2025, the German government announced with a consultation launched on Wednesday.
Read MoreANALYSIS: Talk isn’t cheap at the US presidential debate, as perceived risks shape compliance carbon markets
The first high-stakes US presidential debate between a swapped Democratic nominee and a Republican contender barely addressed environmental policy, yet some traders are factoring in potential volatility in compliance carbon markets before and after the November elections, adjusting positions based on perceived risks or opportunities.
Read MoreFunding initiative channels millions to Kenyan clean cooking firms
An initiative that funds clean cooking in Africa has handed out a total €2.8 million in financing for Kenya-based organisations, it announced this week.
Read MoreNew lawmaker appointed to lead EU directive on green corporate claims
A new member of the European Parliament from the left-wing Socialists and Democrats group (S&D) has been appointed to lead negotiations on the EU’s Green Claims Directive, which aims at tackling greenwashing and sets rules for the corporate use of voluntary carbon credits.
Read MoreEuro Markets: EUAs rally 2.3% as increase in funds’ net short triggers renewed buying
European carbon prices rallied on Wednesday morning as weekly positioning data showed that investment funds more than doubled their net short positions last week, triggering a rally as traders looked to test the conviction of bearish bets.
Read MoreUPDATE: EU stocktake sees energy security improve, warns of poverty uptick
Despite an uptick in energy poverty, the EU is on track to ensure energy security, according to the European Commission’s latest annual assessment looking back at what has been achieved over the past year.
Read MoreBRIEFING: Carbon removals facing a price roller coaster as demand outstrips supply
The high price of carbon removal credits is set to spike before it declines, as new government policies help to drive more buyers to the nascent market, according to speakers at the Carbon Unbound Europe conference on Wednesday.
Read MoreExperts call for robust targets in Scottish nature bill
Scotland urgently needs strong targets to ensure impact in its forthcoming nature bill, covering areas ranging from habitats to species, experts said during a webinar on Wednesday.
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