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May 16, 2014

At 3-year low, UK gas prices show no Russian supply fears

LONDON, May 16 (Reuters) – Wholesale spot British gas prices
fell to a three-year low on Friday as ample supply and warm
weather outweighed fears of possible cuts in Russian supply via

Gas for delivery next week dropped to 43.80 pence per therm,
the lowest level since September 2011, as temperatures were
forecast to rise to more than 4 degrees Celsius above seasonal
averages, cutting into demand.

Apr 8, 2014

Energy companies need insurance cover for cyber attack ‘time bomb’

LONDON (Reuters) – Energy companies have no insurance against major cyber attacks, reinsurance broker Willis said on Tuesday, likening the threat to a “time bomb” that could cost the industry billions of dollars.

Willis highlighted the industry’s vulnerability to cyber threats in its annual review of the energy sector’s insurance market, which called on insurers to find a way to provide cover.

Apr 2, 2014

SGS moving climate project audit business to India to cut costs

LONDON, April 2 (Reuters) – International certification firm
SGS is moving its Britain-based auditing business for
clean energy projects to India in an attempt to cut costs, the
company’s head of environmental services said on Wednesday.

Geneva-based SGS is one of the main auditors of projects
under the U.N.’s Clean Development Mechanism (CDM) – a programme
under the Kyoto Protocol to help fund climate change mitigation
efforts in poor countries while generating carbon offsets for

Mar 24, 2014

Trading Emissions plc posts 19.2 mln pound H2 liquidation loss

LONDON, March 24 (Reuters) – Clean energy fund Trading
Emissions plc (TEP) said asset disposals and writedowns
related to the winding up of its business had helped push it
into a 19.2 million pound ($31.7 million) loss for the second
half of 2013.

Shares in London-listed TEP fell 8 percent to 14.62 pence on
Monday after the firm said its net asset value had fallen by 26
percent to 22.38 pence per share in the six months ended Dec.
31, 2013.

Mar 12, 2014

EU parliament backs law to curb “super” greenhouse gases

LONDON/BRUSSELS March 12 (Reuters) – The European Parliament
on Wednesday backed a law to curb the use of “super” greenhouse
gases used in fridges and air conditioners, which have a global
warming potential thousands of times greater than carbon

Lawmakers meeting in Strasbourg, France voted 644 to 19 in
favour of a European Commission proposal to cut the use of
climate-harming hydrofluorocarbons, known as HFCs or ‘F-gases’,
by 79 percent below average 2009-2012 levels by 2030.

Jan 17, 2014

Incoming boss Silver says league to keep coming back to London

LONDON (Reuters) – The Brooklyn Nets topped the Atlanta Hawks 127-110 on Thursday in the NBA’s annual London match, a fixture which incoming NBA Commissioner Adam Silver says will remain on the league’s calendar.

The sport’s popularity has picked up since the British capital hosted the 2012 Olympic Games, and Silver said he was keen to continue a “fantastic experience”.

Jan 8, 2014

EU Commission seeks March start for CO2 permit withdrawal

LONDON, Jan 8 (Reuters) – The European Commission has
proposed fast-tracking a plan to prop up carbon prices in the
EU’s Emissions Trading Scheme after member states on Wednesday
agreed to a withdrawal of as many as 400 million permits this

Member state officials approved rules governing how and when
900 million carbon permits can be withdrawn over the next three
years under the Commission’s so-called backloading plan, the
28-nation bloc’s executive said on its website.

Dec 11, 2013

Heavy industry to challenge EU CO2 permit quotas

LONDON, Dec 11 (Reuters) – Europe’s heavy industry is firing
a barrage of legal challenges to cuts in the carbon permits they
will get up to 2020 – subsidies worth over 4 billion euros ($5.5
billion) – with at least nine firms opening the assault in a
Dutch court.

Companies including ExxonMobil, Dow Chemical
and Shell have challenged the Dutch government over
what they say is an under-allocation of carbon allowances by the
European Commission under the EU Emissions Trading Scheme (ETS),
which are given free to heavy industry.

Nov 23, 2013

U.N. climate talks blocked as nations battle over finance

WARSAW, Nov 23 (Reuters) – Talks to lay the foundations for
a new U.N. climate pact due in 2015 were deadlocked as they ran
into overtime on Saturday, with nations at odds over stepping up
finance for developing countries to ease the impact of global

The Warsaw meeting, which had been due to end on Friday, was
meant to lay the groundwork for creating the first climate
accord to be applicable to all nations by 2015, which would come
into force after 2020.

Nov 23, 2013

U.N. climate talks blocked over aid, steps to 2015 deal

WARSAW (Reuters) – Almost 200 nations were deadlocked on Saturday over how to step up aid to ease the impact of global warming on developing nations as part of the foundations of an elusive U.N. climate accord due in 2015.

The Warsaw meeting, which had been due to end on Friday but extended into Saturday morning, had little to show after two weeks except for a deal on new rules to protect tropical forests, which soak up carbon dioxide as they grow.

    • 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
      English, French
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