UK engineered carbon removal credits could top 850 mln by 2050 -report
Total UK-based engineered carbon removal credit supply could reach up to 852 million by 2050 under a high-growth scenario, according to modelling commissioned by the British government.
Read MoreEU updates green reporting rules, slashes mandatory datapoints by 60%
The European Commission on Friday proposed revised sustainability reporting standards for companies operating in the EU, saying the changes will cut reporting costs for businesses by around 30%.
Read MoreEU countries to vote on CBAM carbon price deduction rules in September
EU member states will vote in September on rules defining which foreign CO2 prices importers can deduct from their Carbon Border Adjustment Mechanism (CBAM) fees, a European Commission official said.
Read MoreWind energy industry urges EU ETS overhaul to prioritise industrial electrification
The European Commission should use its upcoming revision of the EU Emissions Trading System (ETS) to redirect billions of euros in carbon market revenues towards industrial electrification, trade association WindEurope has said.
Read MoreIndia proposes carbon intensity targets for iron, steel under ETS
India’s environment ministry has proposed carbon intensity targets for iron and steel producers under its Carbon Credit Trading Scheme, the largest sector yet brought under the compliance mechanism.
Read MoreMENA Roundup: Gulf countries build up voluntary carbon markets at home
Middle Eastern and North African (MENA) countries last month offered carrots, sticks, and capacity support to accelerate domestic and regional carbon market development.
Read MoreFEATURE: Corporate non-market environmental donations are picking up, driven by employees and business value -experts
Voluntary giving by companies to environmental outcomes outside of formalised markets is starting to pick up this year after a few years of lacklustre growth, with more willingness to go public on action, and for reasons of talent acquisition and business value, according to experts in the field.
Read MoreEU pressed to frontload ETS cash to jump‑start carbon removals
The EU should use €10-30 billion of frontloaded revenues from its Emissions Trading System (ETS) to support durable carbon removal (CDR) before 2035, as waiting until compliance demand emerges risks leaving Europe short of its 2040 and 2050 removals targets, according to a recent paper.
Read MoreGerman grid operator urges pause to coal plant closures amid energy security concerns
Germany should halt further closures of coal-fired power plants until replacement capacity is in place, the country’s largest transmission system operator has said, warning that electricity security could be at risk early in the next decade as the country accelerates its energy transition.
Read MoreAustralian electricity generators push back against being included in Safeguard Mechanism
An industry body representing Australia’s electricity producers has argued against folding the sector into the Safeguard Mechanism, arguing it will be inefficient, legally complex, and lead to higher operating costs.
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