EU emitters turn in nearly 1.6 bln Kyoto credits since 2008, as cheap ETS compliance option ends
Companies regulated by the EU ETS used almost 1.6 billion Kyoto Protocol offsets against their surrender obligations over the past 13 years, data published by the European Commission late Tuesday showed, as the window finally closed on this cheaper compliance option.
Read MoreUK plans for in-person COP26 climate summit, explores COVID safeguards
The UK is planning on host the COP26 UN climate negotiations as an in-person summit in Glasgow in November and is considering various ways of ensuring protection against the coronavirus pandemic, the meeting’s president Alok Sharma said on Friday.
Read MoreNew Paris climate pledges to help cut projected warming to 2.4C -scientists
The new climate pledges announced during April’s US-led climate summit are projected to put the world on track for global warming of 2.4C above pre-industrial levels, a report published Tuesday showed, reflecting a drop from 2.6C previously but still far off the Paris Agreement’s 1.5-2C goals.
Read MoreGermany, Russia sign MoU to ship hydrogen via controversial gas pipeline
Germany and Russia have signed a €2 billion memorandum of understanding (MoU) to leverage the controversial gas pipeline Nord Stream 2 for the eventual distribution of hydrogen, even as the European Parliament called for the project to be halted due to rising tensions with Moscow.
Read MoreIncreased financial sector participation to dramatically change voluntary carbon market -panel
The structure of voluntary carbon markets (VCM) is expected to change dramatically as financial institutions become ever-larger participants in the space and corporate purchasing decisions shift from marketing departments to finance, a conference heard on Tuesday.
Read MoreLEAF to impose high-ambition climate, deforestation commitments on both buyers and sellers -panel
The Lowering Emissions by Accelerating Forest (LEAF) finance coalition will impose high ambition requirements on public and private sector buyers and sellers of offsets, its founding nations the US, the UK, and Norway said on a webinar on Friday.
Read MoreUS likely needs new legislation to hit its revised Paris climate goal -panel
The US will need to leverage existing programmes and regulatory authority to drive near-term emissions reductions, but federal legislation is likely required to hit its enhanced Nationally Determined Contribution (NDC) to the Paris Agreement, panelists told a conference on Friday.
Read MoreLeaders Summit on Climate: Officials highlight need for public, private action ahead of COP26
Government officials on Friday pushed for the public and private sectors to increase climate ambition ahead of the UN COP26 summit this fall, as the US and other countries announced a pair of initiatives to drive future reductions.
Read MoreUS-backed coalition aims to raise $1 bln for jurisdictional REDD payments
The US, UK, and Norway launched a coalition on Thursday to raise $1 billion in private capital for jurisdictions that reduce deforestation emissions under the Architecture for REDD+ Transactions (ART) programme.
Read MoreLeaders Summit on Climate: US hikes Paris climate goal as other nations strengthen emissions targets
US President Joe Biden raised the country’s emissions reduction target on Thursday at the White House-convened Leaders Summit on Climate, as other nations including Japan and Canada increased their own Paris Agreement pledges to the 2015 UN pact.
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