BRUSSELS/LONDON (Reuters) – European politicians backed an emergency plan to rescue the world’s biggest carbon market from collapse on Tuesday but hesitated to kick off the next stage of EU action, sending prices down by as much as 20 percent.
Meant to be a pillar of the European Union’s climate policy, the Emissions Trading Scheme (ETS) has fallen to a series of record lows because of a huge surplus of allowances, mostly generated by recession in the euro zone.
LONDON, Feb 18 (Reuters) – More efficient use of nitrogen
fertilisers could cut annual consumption by 20 million tonnes,
help the environment and save $170 million a year by the end of
the decade, scientists said in a report on Monday.
Nitrogen, phosphorous and other nutrients essential for
plant growth have long been used in fertilisers to meet world
food and energy demand.
BRUSSELS/LONDON, Feb 13 (Reuters) – Europe’s failure to
raise carbon prices enough to spur green energy use means more
nations are expected to follow the example of Britain and take
action on their own.
EU efforts in the immediate term are focused on a Feb. 19
vote in a committee of the European Parliament which will
provide the next signal of whether a plan to bolster the EU’s
Emissions Trading Scheme can proceed.
LONDON, Feb 4 (Reuters) – Britain needs a single coherent
strategy to become the most energy-efficient country in Europe,
Prime Minister David Cameron said in one of his strongest
speeches on the value of a low-carbon economy on Monday.
Cameron spoke at the launch of a new programme to accelerate
the deployment of energy-saving measures and get the most out of
the many existing government policies to improve energy use.
LONDON, Jan 30 (Reuters) – Growing palm oil trees to make
biofuels could be accelerating the effects of climate change,
new research showed on Wednesday, adding further weight to
claims the crop is not environmentally sustainable.
In a paper published in the journal Nature, an international
team of scientists examined how the deforestation of peat swamps
in Malaysia to make way for palm oil trees is releasing carbon
which has been locked away for thousands of years.
BRUSSELS/LONDON (Reuters) – European Union carbon prices collapsed 40 percent to a fresh record low on Thursday after politicians opposed plans to prop up the market, raising concerns prices could soon slump to zero, likely signaling the death of the market.
Prices in the European Union’s Emissions Trading Scheme (ETS) collapsed to 2.81 euros a metric ton (1.1023 tons) after a vote in the European Parliament’s energy and industry committee opposing a scheme known as “backloading” to support prices by extracting allowances from the market and reinjecting them later.
LONDON, Jan 23 (Reuters) – The benchmark European Union
carbon contract fell to a new record low on Wednesday, extending
declines seen earlier in the week, mostly fuelled by indecision
by EU governments on a plan to boost prices, traders said.
The EU carbon price fell 16 percent to 4.60 euros,
before recovering slightly to 4.71 euros by 1653 GMT. Prices had
already been falling this week, hitting a previous record low of
4.79 euros on Monday.
LONDON, Jan 21 (Reuters) – British scientists seeking to tap
more efficient forms of solar power are exploring how to mimic
the way plants transform sunlight into energy and produce
hydrogen to fuel vehicles.
They will join other researchers around the world studying
artificial photosynthesis as governments seek to cut greenhouse
gas emissions from fossil fuels.
LONDON (Reuters) – The world could avoid much of the damaging effects of climate change this century if greenhouse gas emissions are curbed more sharply, research showed on Sunday.
The study, published in the journal Nature Climate Change, is the first comprehensive assessment of the benefits of cutting emissions to keep the global temperature rise to within 2 degrees Celsius by 2100, a level which scientists say would avoid the worst effects of climate change.
LONDON/BRUSSELS, Jan 11 (Reuters) – The future of the
European Union’s emissions trading scheme, meant to be a
cornerstone of the bloc’s climate policy, is in the balance this
year as traders look to Germany to back a plan to boost low
Launched in 2005, the EU Emissions Trading Scheme (ETS) has
been beset by problems ranging from overestimating the number of
permits required by Europe’s industry, to fraud, to a glut of
permits generated by low demand during recession.