LONDON (Reuters) – Markets in water rights are likely to evolve as rising population leads to shortages and climate change causes drought and famine.
But they will based on regional and ethical trading practices and will differ from the bulk of commodity trade.
LONDON (Reuters) – Carbon offsets neared all-time lows Friday, confirming their status as the world’s worst performing commodity, as slumping demand meets rising supply of the U.N. instrument traded under the Kyoto Protocol.
A worsening global economic outlook has dented prices for emissions permits which depend on a robust economy belching greenhouse gases into the air, and has also impacted oil, grains, coal and natural gas.
LONDON (Reuters) – The European Union’s benchmark carbon price fell to its lowest level in two and a half years on Wednesday and even though the market looks oversold there could be further downside, technical analysis shows.
Benchmark EU Allowances (EUAs) fell to a fresh 29-month low of 11.05 euros ($15.71) a tonne in mid-morning trade on Wednesday, amid heavy selling on fears of a double dip recession.
LONDON, July 28 (Reuters) – British low-carbon project
developer Camco International Ltd. has expanded its
carbon portfolio in North America, with over two million tonnes
of emissions reductions under contract to date, it said in a
trading update on Thursday.
“North America is an important pillar in Camco’s global
strategy, and we are pleased with the rapid progress the team
has made,” said Yariv Cohen, Camco president.
BRUSSELS/LONDON, July 21 (Reuters) – European steelmakers
said they started legal action on Thursday to overturn the way
the sector has been included in the European Union’s carbon
Industry body Eurofer says the rules for the Emissions
Trading Scheme (ETS) do not set a fair benchmark that would
allow the industry’s most efficient 10 percent of factories to
get free pollution permits after 2013.
LONDON (Reuters) – The International Maritime Organization (IMO) agreed to force energy efficiency design standards on new ships from 2013 to cut greenhouse gas emissions, but developing countries will probably delay implementation until 2017 or 2019, delegates said.
Forty-eight countries voted in favor of adopting a mandatory energy efficiency design index (EEDI) for new ships at a meeting of the IMO’s marine environment protection committee in London on Friday, while five were against and 12 abstained, a source told Reuters.
LONDON, July 13 (Reuters) – Britain has made progress in
getting ready for the effects of climate change but certain
sectors like water would struggle in the event of severe
droughts, said a body which advises the government on climate
“We should not think everything is fine and dandy because
plenty of water comes out of the taps today. It might not be the
same in 20 to 30 years’ time,” John Krebs, chair of the
Adaptation Sub-Committee on Climate Change, told reporters at a
LONDON (Reuters) – Long-term contracts to reward low-carbon energy were part of proposals unveiled by the UK government on Tuesday as it looks to incentivize a power sector set to shed a quarter of its traditional capacity over the next decade.
The UK will see old coal and nuclear power stations close this decade, requiring more than 110 billion pounds ($176 billion) of investment to build the equivalent of 20 large power stations and upgrade the grid, the government said.
LONDON, July 6 (Reuters) – Britain’s nuclear strategy is
“uninvestable” for private clients, who are only likely to put
money into new plants if the government shoulders more of the
risks involved, Citigroup’s head of European utilities research
said on Wednesday.
Nuclear developers plan to build around 16 gigawatts of new
nuclear capacity in the UK by 2025 to help meet the UK’s tough
climate targets, but the investment environment is “dire”, Peter
Atherton told journalists at a briefing in London.
LONDON (Reuters) – The government needs to step up efforts to meet the world’s toughest climate targets, the government’s climate change adviser urged, despite pressures posed by a record deficit and flagging economy.
The Committee on Climate Change (CCC) reports to Parliament on the government’s progress in reducing emissions through a series of ‘carbon budgets’.