BRUSSELS (Reuters) – Energy efficiency and low carbon investment is gaining traction as a financial asset class, but to deepen confidence the European Union must deliver “investment grade policy” a senior executive at HSBC said on Monday.
He was speaking on the eve of a debate by energy ministers on the EU’s draft Energy Efficiency Directive, on which Denmark, current holder of the rotating EU presidency, hopes to get a political agreement by the end of June.
BRUSSELS, Feb 9 (Reuters) – Plans to improve the
European Union’s record on energy saving risk stalling over
hundreds of highly technical amendments, including one that
could be good for Germany and its giant utilities, but bad for
Denmark has made moving towards a political deal on the EU’s
Energy Efficiency Directive a priority for its six-month tenure
as president of the 27-member bloc.
BRUSSELS, Feb 7 (Reuters) – The EU’s energy chief said
on Tuesday for now he was opposed to raising the bloc’s 10
percent biofuel target due to environmental concerns and urged
the bloc to agree 2030 energy goals within two years.
“During the life of this Commission, we want to be able to
reach a conclusion on targets for 2030,” Guenther Oettinger
said, referring to the current EU executive, whose mandate
expires in 2014.
BRUSSELS, Feb 3 (Reuters) – Progress on transport fuel
tax changes to encourage energy efficiency and the use of
greener sources is a priority of the Danish European Union
presidency, which will be leading the bloc’s discussions for the
first half of this year.
The reforms are being discussed at working party level and
are expected to be debated by finance ministers in March, with a
view to a possible political agreement before the end of the
Danish presidency, a Commission spokeswoman said.
BRUSSELS (Reuters) – Energy efficiency offers one of the best tools for tackling the world’s debt and social crises as sustainable development comes in from the margins to the mainstream of economic debate, the European Union’s climate chief said on Tuesday.
EU Climate Commissioner Connie Hedegaard was speaking after Monday’s summit of EU leaders sought ways to create jobs as well as to deal with massive amounts of debt. At the same time, data showed euro zone unemployment had reached the highest level since before the launch of the single currency.
BRUSSELS (Reuters) – The European Commission’s latest analysis on moving beyond its existing set of 2020 green goals, to be published on Monday, finds raising its environmental ambitions would be cheaper than originally thought.
Details have already emerged in a draft of the working paper seen by Reuters earlier this month.
BRUSSELS (Reuters) – EU law is enough for now to regulate shale gas exploration, although changes might be needed to protect the environment once Europe enters the development phase, a study commissioned by the EU found.
Shale gas exploitation in the United States has transformed the global supply-demand balance.
BRUSSELS (Reuters) – European Union carbon allowances are far too cheap to encourage increased environmental investment, a leaked EU draft seen by Reuters said, but it stopped short of calling for the market intervention politicians and energy companies argue is urgently needed.
Pressure has built from industry and lawmakers across the political divide for action to prop up the EU’s Emissions Trading Scheme (ETS), which has sunk to record lows of less than 7 euros. On Tuesday, permits were trading at around 7.75 euros a tonne.
BRUSSELS/LONDON, Dec 28 (Reuters) – The Nabucco
gas pipeline, long-regarded as the European Union’s preferred
option for curbing dependence on Russian energy, was first
proposed in 2002.
The idea gained traction after disruptions to Russian
supplies into Europe in January 2006 and January 2009 because of
pricing disputes with transit nation Ukraine.
BRUSSELS, Dec 23 (Reuters) – Europe’s highest court
this week gave its full backing to an EU law, meaning all
airlines will have to pay to offset carbon emissions for flights
in and out of Europe from Jan. 1, drawing anger from the United
States and China.
China’s state-run Xinhua news agency warned of a trade war
over the inclusion of airlines in the EU’s Emissions Trading
Scheme (ETS), although the foreign ministry stated its
opposition less stridently and called on the European Union to
talk to other governments.