New leak of EU methane penalty guidance sparks fears of enforcement “black hole”
The European Commission plans to recommend that member states suspend some of the penalties for fossil fuel importers that breach the EU Methane Regulation for up to three years, according to a leaked draft – in a move that is drawing sharp criticism from climate advocates.Â
Read MoreCarbon project financier expects Vietnam LOA by year-end, sees airlines returning to CORSIA market after oil shock
A Canada-headquartered carbon project financier expects its Vietnam household devices programme to secure an governmental Article 6 Letter of Authorisation (LOA) before year-end, potentially positioning the initiative among the first projects approved under the Southeast Asian country’s new international carbon trading framework.
Read MoreFEATURE: Mounting pressure on net zero goals may force more flexible approach to target-setting, even as corporate interest surges
An emerging risk that many corporate net zero goals will not be met could push through greater pragmatism when outlining targets, as well as a more flexible approach across standard-setters, according to experts, even as the number of companies announcing science-aligned climate ambitions continues to grow.
Read MoreIreland falling far short of goal to halve emissions by 2030, EPA warns
Ireland is still falling short of its legally binding goal to halve emissions by 2030, and needs to implement a wide range of policies to hit a projected reduction of 25%, the country’s Environmental Protection Agency (EPA) said on Wednesday.
Read MoreBASF plans €12 bln share buybacks despite EU carbon cost complaints
German chemicals giant BASF plans to buy back €12 billion of its own shares between 2025 and 2028, even as it complains about EU carbon compliance costs, according to a new paper warning against significantly weakening the EU’s Emissions Trading System (ETS).
Read MoreBP chair exit prompts question about oil and gas giant’s reset to fossil fuels
A green shareholder activist group has claimed the firing of BP’s chairman on Tuesday is fixing a symptom, rather than the cause of the company’s broken governance, in a world where oil and gas profits may be squeezed in the future.
Read MoreDATA DIVE: One-third of stakeholders back including carbon credits in EU ETS
Only a third of EU ETS stakeholders are explicitly in favour of allowing the use of international carbon credits in the cap-and-trade market, whereas a strong majority backs the bloc’s use of credits outside the scheme, data from the European Commission’s call for evidence reveals.
Read MoreFive nature-based project developers graduate from offset platform’s accelerator programme
A cohort of five nature-based project developers from around the world have completed a German-based offset platform’s fourth accelerator programme.
Read MoreBelgian firm raises €17.5 mln to scale plasma-based CO2 utilisation technology
A Belgian startup has raised €17.5 million in Series A funding to scale its plasma-based carbon utilisation technology, it announced Tuesday.
Read MoreEU urged to resist watering down green investment labelling rules
Campaigners are urging the EU to reject proposals to dilute its green finance rulebook, denouncing plans that would effectively allow companies to expand fossil fuel activities while still claiming a “transition” label under the Sustainable Finance Disclosure Regulation (SFDR).
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