BRUSSELS/LONDON (Reuters) – Some of Europe’s most heavily polluting industries could need to retain access to free carbon allowances covering all their emissions for the decade to 2030 if the EU is to avoid pricing companies out of the bloc, a regulators’ assessment has found.
The EU wants to tighten up the issuance of free permits to industry to emit carbon dioxide as part of efforts to curb the release of the gas blamed for climate change. But the assessment seen by Reuters says some companies may still need to be allowed free credits covering all their emissions.
BRUSSELS/LONDON, June 4 (Reuters) – Some of Europe’s most
heavily polluting industries could need to retain access to free
carbon allowances covering all their emissions for the decade to
2030 if the EU is to avoid pricing companies out of the bloc, a
regulators’ assessment has found.
The EU wants to tighten up the issuance of free permits to
industry to emit carbon dioxide as part of efforts to curb the
release of the gas blamed for climate change. But the assessment
seen by Reuters says some companies may still need to be allowed
free credits covering all their emissions.
BARCELONA (Reuters) – The World Bank will on July 15 hold a first of its kind auction worth $25 million for U.N.-backed carbon credits from projects designed to cut methane emissions, the bank said on Thursday.
The Pilot Auction Facility will offer tradable put options, giving project owners the right to sell credits to the bank’s Methane and Climate Change Fund at a set price.
BARCELONA (Reuters) – Engie, the utility formerly known as GDF Suez, this month launched the biggest green bond to date and found it was three times over-subscribed, in what analysts say is a mere baby step towards the maturing of green investment.
A growing number of investors and energy firms say fixed-income bonds are a user-friendly way to raise the huge amounts of capital needed for a transition to lower carbon energy.
BARCELONA, May 27 (Reuters) – Tax versus trade is an issue
that has stalked the EU Emissions Trading System (ETS) over its
10 years of existence, but is fading in importance as the world
moves towards increased use of both methods of cutting
greenhouse gas pollution.
The European Union set up the ETS in 2005 as a way of
getting round policy-making rules that require the unanimity of
member states to decide on a tax.
BARCELONA, May 27 (Reuters) – The world’s richest nations
are unlikely to reach a deal to phase out subsidies for coal
exports at talks in June, reducing the chances of a new global
climate change agreement at a U.N. conference in Paris,
officials and campaigners say.
The export credits help developed nations supply coal-fired
generation and mining technology to poor nations, a practice
critics say harms attempts to lower greenhouse gas emissions.
BRUSSELS/OSLO, May 22 (Reuters) – Norway has overtaken
Russia as western Europe’s top gas supplier, data from state
firms shows, indicating the European Union’s drive to reduce its
dependence on Russian energy is bearing fruit.
The sharp drop in oil prices has been another factor, as
Norway offers more flexible pricing and big buyers held off
buying from Russia in the hope the fall in crude price levels
would eventually filter through to Russian gas.
BRUSSELS/LONDON, May 21 (Reuters) – New European Union rules
to crack down on speculation in food and other commodity prices
risk being watered down during final negotiations over detail,
campaigners said on Thursday.
Following the United States’ lead, the 28-country bloc will
set limits on how big a position traders can hold in grains, oil
and other commodities to avoid undue influence over prices.
BRUSSELS, May 20 (Reuters) – Europe’s inland and coastal
waters have become cleaner and nations such as heavily-indebted
Greece and Cyprus boast some of the most pristine bathing spots,
according to this year’s EU report on water quality, published
Compiled annually by the European Environment Agency, the
latest report on bathing waters finds six nations rated
“excellent”: Croatia, Cyprus, Germany, Greece, Luxembourg, and
BRUSSELS, May 18 (Reuters) – Saudi Arabian Airlines has been
fined some 1.4 million euros ($1.6 million) by a regional
Belgian government for breaching EU carbon emissions rules,
making it the first big non-EU carrier to be fined for breaking
the EU aviation law.
The European Union requirement that all aircraft using its
airports pay for carbon emissions caused international outcry
when it was introduced at the start of 2012.