Norway Offers to Join Europe's Carbon Capture Efforts
Norway said on Wednesday it has put on hold plans to fund its first full-scale carbon capture and storage (CCS) plant and will instead help pay for a project in the European Union. Environmental campaigners say the move, announced on Wednesday by Oil and Energy Minister Tord Lien, means the oil…
Courts: Barclays Breached Client Trust in Carbon Deal
Barclays has settled a lawsuit with London trading firm CF Partners after a judge found that the British bank had misused confidential information during its acquisition of a Swedish carbon trading company. The ruling comes the same week Barclays was hit with a combined $77 million in fines from British and U.S.
Countries, Companies Mobilize Around Carbon Pricing Ahead of UN Summit
The World Bank will say Monday that 73 national and 11 regional governments and some 1,000 companies will join forces to push for policies setting a price on carbon emissions to encourage a shift to cleaner energy technologies. The announcement aims to build momentum for a high-profile UN summit…
Britain Urges Deeper EU Carbon Market Reforms
Britain said it wants deeper reforms to the EU Emissions Trading System than those proposed by the European Commission and Germany, favouring cancelling hundreds of millions of carbon permits over launching a tool to regulate market supply. In a report detailing its vision for the fourth phase of the EU ETS…
EU Gave Too Many Carbon Permits -China Negotiator
The European Union handed out too many free carbon permits in its Emissions Trading System and did not set a deep enough emission reduction goal, China's top climate negotiator said on Monday. China, the world's biggest emitter of greenhouse gases blamed for climate change, is testing its own…
Germany Wants Aid for Emission-Cutting Projects in Poor Countries
Germany is advancing plans for rich countries to encourage the developing world to cut greenhouse gas emissions by subsidising projects, replacing the funding after a United Nations programme has run out of cash. Such a move could yield cuts of around 5 percent of the gap between current government…
EU Carbon Import Tariffs Could Torpedo Global Climate Deal
A move by the European Union to impose duties on carbon-intensive imports would scupper the chances of striking a global agreement to tackle climate change next year, the bloc's top climate official said on Thursday. European leaders have agreed to decide by October whether to set a 2030 goal…
Global Climate Deal Won't Stop Dangerous Warming
Even if governments strike a pact to curb greenhouse gas emissions next year, they will still exceed levels thought necessary to stand a chance of preventing dangerous global warming, a study by Thomson Reuters Point Carbon showed. Almost 200 nations have agreed to limit global temperature rises…
Chinese, U.S. Emission Cuts Fall Short
Top emitters signal new intent to tackle warming; huge uncertainties about when, at what level, China may cap. China's hints that it will cap its soaring greenhouse gas emissions and a U.S. plan to cut emissions in the power sector, while representing a shift, do not add up to a strong cure for global warming by the world's top two emitters.
Downturn in Europe's Energy Markets Sharpest Since 2008 Crisis
Europe's power, gas and coal markets are in their sharpest downturn since the financial crisis of 2008 and traders say subdued demand and increasing capacity hurt chances of a big rebound any time soon. The power and coal futures markets are down by around 40 percent since peaking after Japan's…
New EU Rules Phase out Renewable Subsidies
Funding green energy will become harder under EU rules published on Wednesday designed to replace subsidies with market-based schemes, just when the Ukraine crisis has heightened the need for alternatives to imported fossil fuel. The executive European Commission said the guidelines, which will be gradually phased in…
Norway to Relaunch Carbon Capture Plan
Norway's government will this spring launch a strategy to develop technology for capturing and burying heat-trapping emissions from polluting industries, aiming to make good on a pledge to build a full-size plant by 2020. Proponents of carbon capture and storage (CCS) hope the oil-rich nation…
