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Nov 13, 2013

2013 so far seventh hottest year, more warming seen: WMO

WARSAW (Reuters) – This year is the seventh warmest since records began in 1850 with a trend to weather extremes and the impact of storms such as Typhoon Haiyan in the Philippines aggravated by rising sea levels, the World Meteorological Organization (WMO) said on Wednesday.

A build-up of manmade greenhouse gases in the atmosphere meant a warmer future was now inevitable, WMO Secretary-General Michel Jarraud said in a statement on the sidelines of U.N. climate talks among almost 200 nations in Warsaw.

Nov 11, 2013

Philippine delegate fasts at climate talks to urge action after storm

WARSAW (Reuters) – The Philippine delegate at U.N. climate talks began a fast on Monday in protest at a lack of action on global warming that he blamed for fuelling a super typhoon that has killed an estimated 10,000 people in his country.

Delegates from almost 200 nations held three minutes’ silence to mourn victims of typhoon Haiyan, one of the most powerful storms ever recorded, at the start of November 11-22 talks to plan a U.N. deal in 2015 to slow climate change.

Nov 8, 2013

EU states reach breakthrough at carbon supply cut talks

BRUSSELS/LONDON, Nov 8 (Reuters) – European Union diplomats
on Friday agreed to begin talks on a legal text to slash permit
supply and prop up carbon prices in the bloc’s Emissions Trading
Scheme (ETS), marking a big step forward for the divisive
proposal.

Lithuania, current holder of the EU presidency, said member
states would start three-way negotiations with the European
Parliament and European Commission over the “backloading” plan.

Nov 8, 2013

EU to start negotiating law on removing CO2 permits

BRUSSELS/LONDON (Reuters) – EU diplomats on Friday agreed to begin talks on a legal text to slash permit supply and prop up carbon prices in the bloc’s Emissions Trading Scheme (ETS), marking a big step forward for the divisive proposal.

EU president Lithuania said member state officials would start negotiations with the European Parliament and the executive European Commission over the “backloading” plan, which seeks to delay the sale of 900 million carbon permits until later this decade.

Nov 6, 2013

UK watchdog says investors lose 24 million pounds in carbon credit scam

LONDON (Reuters) – Nineteen companies selling carbon credits have been shut in the past 15 months for bilking investors out of 24 million pounds ($38.7 million), British regulators said on Wednesday, warning more firms were trying to sell carbon as a viable option for private investors.

The UK Insolvency Service said more than 1,500 investors had been ripped off by the firms, which target mainly the elderly with high pressure sales techniques and promises of hefty returns of more than 40 percent.

Nov 6, 2013

FCA says investors lose 24 million pound in carbon credit scam

LONDON (Reuters) – Nineteen companies selling carbon credits have been shut in the past 15 months for bilking investors out of 24 million pounds, British regulators said on Wednesday, warning more firms were trying to sell carbon as a viable option for private investors.

The UK Insolvency Service said more than 1,500 investors had been ripped off by the firms, which target mainly the elderly with high pressure sales techniques and promises of hefty returns of more than 40 percent.

Nov 6, 2013

UK watchdog says investors lose 24 mln stg in carbon credit scam

LONDON, Nov 6 (Reuters) – Nineteen companies selling carbon
credits have been shut in the past 15 months for bilking
investors out of 24 million pounds ($38.7 million), British
regulators said on Wednesday, warning more firms were trying to
sell carbon as a viable option for private investors.

The UK Insolvency Service said more than 1,500 investors had
been ripped off by the firms, which target mainly the elderly
with high pressure sales techniques and promises of hefty
returns of more than 40 percent.

Jul 3, 2013

EU Parliament backs carbon market support plan

STRASBOURG/LONDON, July 3 (Reuters) – The European
Parliament after months of bitter debate backed a plan on
Wednesday to boost carbon prices, throwing a lifeline to the EU
Emissions Trading System (ETS) and the bloc’s push for greener
energy.

EU politicians in Strasbourg voted 344-311 in favour of
temporarily removing up to 900 million permits from trade,
tackling oversupply that has sent carbon prices to record lows.

May 12, 2013

Olympiakos storm past Madrid to retain Euroleague title

LONDON (Reuters) – Olympiakos Piraeus defeated Real Madrid 100-88 with a dominant second half display on Sunday to win Europe’s premier basketball trophy for the second year running.

Inspired by a vocal travelling support who defied Greece’s economic problems to make the trip to London, Olympiacos battled back from 27-10 down after the first quarter of the Euroleague final to take the lead early in the second half.

Apr 15, 2013

Barclays broke rules, used advisory staff for CO2 deal: lawyer

By Michael Szabo

LONDON, April 15 (Reuters Point Carbon) – Barclays plc (BARC.L: Quote, Profile, Research, Stock Buzz) broke internal rules by transferring advisory staff with confidential information to its acquisitions team to help buy a Swedish carbon credit firm, a lawyer for a former client said on Monday.

London-based trading house CF Partners is suing the bank for 82 million euros ($107 million), saying Barclays advised it on a potential bid for Stockholm-based Tricorona in 2008 then used the information to buy the carbon firm itself two years later.

    • 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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