Largest shipping companies avoid taxes that could raise billions for climate -report
The world’s 10 largest shipping companies raised record profits of around $300 billion in the last five years, but paid less than half the average corporation tax rate, according to a new report by a non-profit, which highlights the impact a potential global levy could have on climate.
Read MoreEU’s 2040 climate target likely to be delayed, Commission admits
Days after confirming its commitment to publish a 2040 climate target proposal before the end of March, the European Commission made an about-turn on Monday, admitting that the deadline will likely be missed.
Read MoreVCM Report: Removals in focus after SBTi unveils new draft framework, fails to shift needle for demand
Durable carbon removals (CDR) dominated the headlines last week after the Science Based Target initiative (SBTi) released its long-awaited draft of version 2 of its Corporate Net-Zero Standard for public consultation.
Read MoreTransparency gaps in carbon removal, forestry raise doubts over 2050 net zero targets -report
A lack of transparency in national climate strategies, particularly around the role of engineered carbon removal (CDR) and land-use, land-use change, and forestry (LULUCF), is raising doubts over the credibility of 2050 net zero targets, according to a report released over the weekend.
Read MoreShell head of voluntary carbon sales joins REDD+ developer
The head of oil major Shell’s voluntary carbon offset sales team has joined a REDD+ project developer, they announced Monday.
Read MoreHurdles in applying corresponding adjustments to carbon credits may undermine CORSIA -report
The effectiveness of the CORSIA international aviation offsetting scheme could be limited by implementation challenges such as the structural barriers in applying corresponding adjustments under Article 6 of the Paris Agreement, according to a report released over the weekend.
Read MoreEmissions and economic growth finally separate, IEA says
The International Energy Agency (IEA) found a record year for power demand in 2024 even as emissions growth slowed, underlining the fact that after decades, economic and emissions growth are finally and demonstrably decoupling.
Read MoreLDC expands carbon project portfolio in decarbonisation push
Commodity merchant Louis Dreyfus Company (LDC) has broadened its carbon project portfolio as part of a growing push to decarbonise its operations and supply chains, according to its 2024 Integrated Report.
Read MoreEU’s 2040 climate target still due by end of March, followed by NDC in Q2
The European Commission denied reports that its 2040 target proposal could be delayed into the second quarter, rectifying statements from its vice-president Teresa Ribera who suggested in an interview that the initiative would be postponed.
Read MoreMajor EU political groups commit to maintaining CBAM integrity
Three of the largest political groups in the European Parliament have pledged to uphold the integrity of the EU’s Carbon Border Adjustment Mechanism (CBAM) by limiting legislative changes to the scope proposed by the European Commission last month.
Read More