LONDON, Nov 13 (Reuters) – Prices for EU carbon emissions
permits closed 8 percent lower on Tuesday, after the European
Commission proposed the withdrawal of only 900 million permits
in its Emissions Trading Scheme (ETS) from next year to prop up
Speculative market participants who had been expecting a
greater number in the proposal helped drive up prices to an
eight-month high of 9.10 euros a tonne on Monday.
LONDON, Nov 13 (Reuters) – Prices for European Union
emissions permits opened trade lower on Tuesday, after the
European Commission proposed the withdrawal of 900 million
permits in its Emissions Trading Scheme from next year to prop
up low prices.
Anticipation of the EU’s announcement, which came after the
market close on Monday, had driven EUAs to 9.08 at the close of
trade, an eight-month high.
LONDON (Reuters) – More satellites and orbiting debris could collide in the upper atmosphere because a buildup of carbon dioxide (CO2) has reduced the “drag effect” which can eventually send some space junk back down to Earth, a study shows.
Over the past eight years CO2 concentrations in the upper atmosphere have risen from burning fossil fuels that have warmed the Earth’s surface and caused temperatures to increase, the study in the journal Nature Geoscience said.
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.