Environmental Markets Correspondent/Communities Editor
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Oct 15, 2014

EU pushes back deadlines 2 years in green energy funding scheme

LONDON (Reuters) – European government officials have approved a proposal to delay deadlines for final investment decisions and the operational launch of Europe’s first commercial-scale carbon capture and storage plant and 40 renewable energy projects.

The measure, proposed by the European Commission following pressure from seven EU member states including Britain, France and Germany, throws a lifeline to some projects struggling to comply with the EU’s 2.1 billion euro ($2.7 billion) scheme to cut greenhouse gas emissions.

Oct 7, 2014

EU governments push for deadline delays in CO2-cut cash scheme

LONDON, Oct 7 (Reuters) – EU government officials will vote
next week on a proposal to delay deadlines for final investment
and operation decisions for Europe’s first commercial-scale,
carbon capture and storage plant and 40 renewable energy
projects.

The measure, proposed by the European Commission following
pressure from seven EU member states including Britain, France
and Germany, could throw a lifeline to some projects facing
challenges to comply with the EU’s 2.1-billion euro ($2.7
billion) scheme to cut greenhouse gas emissions.

Oct 3, 2014

Holcim mulls next move after EU court rejects carbon theft lawsuit

LONDON, Oct 3 (Reuters) – European cement maker Holcim
is mulling its options after the European Union’s top
court dismissed its lawsuit against the European Commission over
the theft of 1.6 million emissions allowances in 2010.

The European Court of Justice (ECJ) on Sept. 18 said it had
rejected Holcim’s arguments that the Commission should
compensate the firm for around 17.6 million euros for damages
suffered when the online carbon trading account of its Romanian
subsidiary was hacked.

Sep 25, 2014

UK judge rules Barclays breached client trust in carbon deal

LONDON, Sept 25 (Reuters) – 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. regulators
as the lender continues to be dogged by problems from its past.

Sep 23, 2014

Four British men jailed for role in EU carbon credit thefts

LONDON, Sept 23 (Reuters) – Four British men have been
sentenced to a total of 19 years in jail for their part in the
theft of 7 million euros ($9 million) in EU carbon credits,
which led to the temporary suspension of trade in the European
market.

Ruman Patel, Hanif Patel, Ayyub Ibrahim and Mohammed Hanif
Patel, arrested between June 2012 and April 2014, were part of
an international syndicate that masterminded the theft of
500,000 EU Allowances from the Czech emissions registry in
January 2011, Britain’s National Crime Agency said on Tuesday.

Sep 1, 2014

More cash for EU industry, eastern states in 2030 climate goals: draft

LONDON (Reuters) – Big emitting industries and poorer eastern member states in the European Union could get tens of billions of euros in additional funds next decade to help them meet the bloc’s 2030 energy and climate goals, a draft EU document showed.

According to undated draft conclusions leaked from the European Council and seen by Reuters, EU leaders are examining measures aimed at appeasing reluctant states such as coal-dependent Poland and other poorer eastern European nations.

Jul 9, 2014

Three firms buy 510,000 African carbon credits in H1 2014

LONDON, July 9 (Reuters) – Three major international
commodity traders bought a total 510,000 African carbon offsets
from clean energy project developer ecosur afrique in the first
half of 2014, showing some demand still exists for credits from
the battered U.N. market.

The credits – known as Certified Emissions Reductions (CERs)
are to be delivered to the buyers Vitol, Bunge
and Shell Trading before the end of 2015, ecosur CEO
Fabrice Le Sache told Reuters on Wednesday.

Jun 20, 2014

Black Dragon: UK hacker comes clean on carbon credit thefts

LONDON (Reuters) – A British hacker, speaking out for the first time since he was jailed for attempting to steal 8 million euros ($11 million) (6.45 million pounds) in carbon credits, said he was easily able to break into online government and corporate registries.

Matthew Beddoes, known online as the Black Dragon, was arrested in November 2011 with two other men for hacking into carbon trading registries including those of Spain and the United Nations, along with the websites of a London-based commodity broker and an online carbon trading marketplace.

Jun 12, 2014

EU’s top court asked to rule on industry’s CO2 permit challenges

LONDON, June 12 (Reuters) – The Dutch national court has
asked the European Court of Justice (ECJ) to rule on the legal
challenges filed by heavy industry over how many free emissions
permits they are due to receive through to 2020 under the EU’s
carbon market.

The Dutch Council of State on Wednesday requested the ECJ,
Europe’s highest court, make a preliminary ruling on whether the
European Commission had correctly calculated a reduction in the
number of permits – subsidies worth billions of euros – that
would be earmarked for industrial firms.

Jun 11, 2014

Near-term prices rise on undersupply, Russia-Ukraine row

June 11 (Reuters) – British day-ahead wholesale gas prices
rose 2.9 percent on Wednesday on undersupply forecasts, a drop
in LNG availability from import terminals, and the risk that
EU-brokered talks between Ukraine and Russia over a pricing
dispute will drag on.

The prompt contract gained 1.1 pence to a four-day high of
38.65 pence/therm, climbing back from a near four-year low of
36.25 pence hit on Monday due to low demand and healthy supply.

    • About Michael

      "Michael Szabo is an environmental markets correspondent based in London, UK. His focus is on carbon emissions trading, but also looks at renewable energy and climate change policy and science. He also manages the Global Carbon Forum."
      Joined Reuters:
      June 2005
      Languages:
      English, French
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