OSLO/LONDON (Reuters) – Rich nations are dismaying developing countries with pledges merely to continue aid to help them combat climate change in 2013 despite past promises of a tenfold surge to $100 billion a year by 2020.
“There should be a transparent process to scale up finance” towards 2020, said Seyni Nafo of Mali, spokesman for the 54-nation African group at U.N. negotiations. The poor needed more than “an indication that funding will not fall off a cliff”.
LONDON (Reuters) – The world will have to cut the rate of carbon emissions by an unprecedented rate to 2050 to stop global temperatures from rising more than 2 degrees this century, a report released by PwC on Monday showed.
PwC’s annual Low Carbon Economy Index report examined the progress of developed and emerging economies towards reducing their carbon intensity, or their emissions per unit of gross domestic product.
LONDON, Oct 25 (Reuters) – Complying with stricter European
Union rules on carbon dioxide emissions from next year could
cost European utilities as much as 2.5 billion euros ($3.24
billion) in 2016, a report by Standard & Poor’s Ratings Services
said on Thursday.
S&P Ratings Services studied nine rated European utilities
and estimated their carbon liabilities under the third trading
period of the EU’s Emissions Trading System (ETS), which will
run from 2013 to 2020.
LONDON (Reuters) – Analysts cut their price forecasts for United Nations’ carbon permits to 2020 further on Tuesday as over-supply continued to put pressure on prices, a Reuters poll of 14 analysts showed.
U.N. carbon permits, called certified emissions reductions (CERs), have lost more than 70 percent of their value over the past year on the continued over-supply of permits, low demand due to the global economic downturn and concerns about restrictions on CER use in other countries’ carbon markets.
LONDON, Sept 20 (Reuters) – Britain needs a more ambitious
programme to encourage the uptake of low-carbon vehicles, as
sales of the cars have disappointed, a committee made up of UK
Members of Parliament said on Thursday.
As part of its aim to reduce carbon dioxide emissions to 80
percent below 1990 levels by 2050, the government has offered 25
percent off the price of a plug-in electric car capped at 5,000
LONDON, Sept 20 (Reuters) – The “reckless gold rush” of oil
and gas exploration in the Arctic should stop until stronger
safeguards against spills are introduced, a UK Parliament
committee said on Thursday, just days after Shell put a
drilling project on hold.
The report by the Environmental Audit Committee, made up of
UK Members of Parliament, called for a halt to drilling until a
pan-Arctic oil spill response standard is put in place.
BRUSSELS/LONDON, Sept 18 (Reuters) – EU technical experts on
Wednesday held a preliminary discussion on proposals to prop up
the EU Emissions Trading Scheme, with Poland standing out as the
sharpest opponent, while the majority of nations took no firm
position, EU sources said.
The closed-door meeting did not get as far as a serious
debate about how many allowances should be withheld from the
next stage of the Emissions Trading Scheme (ETS) beginning next
year, one source said on condition of anonymity.
RIO DE JANEIRO (Reuters) – From white sandy beaches to a bustling centre to vibrant rainforests on the sprawling hills, Rio de Janeiro has something for everyone who visits.
Home to over 6 million people, Brazil’s second biggest city has a vibrant and colourful atmosphere which is infectious.
LONDON, Sept 16 (Reuters) – The chance to save the world’s
coral reefs from damage caused by climate change is dwindling as
man-made greenhouse gas emissions continue to rise, scientists
said in a study released on Sunday.
Around 70 percent of corals are expected to suffer from
long-term degradation by 2030, even if strict emission cuts are
enforced, according to the study.
LONDON (Reuters) – A new 500 million euro renewables fund aims to attract capital from pension and sovereign wealth funds through a low-risk, long-term investment strategy which would give higher returns than government bonds, one of its founders said.
The Real Asset Energy Fund (RAEF), managed by Solar Investment Group, plans to start investing in renewable power plants which are already in operation, mainly in the wind and solar sectors, from the first quarter of next year.