BRUSSELS/LONDON (Reuters) – European Union spot carbon permits face regulation alongside other financial instruments under proposed laws published on Thursday as the EU Commission seeks to bolster a market shaken by fraud and oversupply.
The EU Commission has proposed that spot carbon permits should be classified as financial instruments, adding to futures, forwards and options which are already covered by financial market rules (MiFID).
BRUSSELS/LONDON, Oct 20 (Reuters) – European Union spot
carbon permits face regulation alongside other financial
instruments under proposed laws published on Thursday as the EU
Commission seeks to bolster a market shaken by fraud and
The EU Commission has proposed that spot carbon permits
should be classified as financial instruments, adding to
futures, forwards and options which are already covered by
financial market rules (MiFID).
LONDON (Reuters) – The challenges of human migration due to climate change have been underestimated as millions of people will either move into or be trapped in areas of risk by 2060, rather than migrating away, a British government report showed on Thursday.
The report, by the government-backed Foresight Program, examined the likely movement of people both within and between countries to 2060. It found the greatest risks will be borne by people who are unable or unwilling to relocate.
LONDON (Reuters) – Biofuels for use in transport are becoming more competitive compared with oil but the pace of growth has slowed due to a lack of regulation and sustainability standards in Europe, the chief executive of BP’s biofuels division said.
“In the UK, biofuels get no tax breaks whatsoever. The biggest obstacle (to biofuel growth) is uncertainty around the future of mandates and clear (European Union) sustainability standards,” Philip New of BP Biofuels told Reuters in an interview on Tuesday.
LONDON (Reuters) – The Earth’s natural resources like food, water and forests are being depleted at an alarming speed, causing hunger, conflict, social unrest and species extinction, experts at a climate and health conference in London warned Monday.
Increased hunger due to food yield changes will lead to malnutrition; water scarcity will deteriorate hygiene; pollution will weaken immune systems; and displacement and social disorder due to conflicts over water and land will increase the spread of infectious diseases, they said.
LONDON (Reuters) – The price for U.N.-backed carbon credits is set to fall further, after hitting a record low early on Friday, as an over-supply of offsets looks unlikely to lessen and as poor economic growth dents confidence in the market.
The benchmark contract for certified emissions reductions (CERs) hit an all-time low of 7.13 euros ($9.77) early on Friday, before recovering slightly to 7.28 euros.
LONDON (Reuters) – The benchmark contract for U.N. carbon credits hit a new record low of 7.13 euros ($9.77) a tonne on Friday, as the euro zone’s worsening debt crisis and prospects of slowing economic growth hit the heavily-supplied offset market.
A deteriorating global economic outlook has put pressure on emissions permits which depend on robust industrial production to belch out greenhouse gases.
LONDON (Reuters) – The government should consider building a new mixed-oxide fuel (MOX) plant to reuse the country’s huge stockpile of separated plutonium as part of a long-term nuclear strategy, the Royal Society said in a report on Thursday.
The recommendation comes just a few months after the government-owned Nuclear Decommissioning Authority (NDA) announced it would close MOX plant at Sellafield.
LONDON (Reuters) – An ancient lake hidden deep beneath West Antarctica’s Ice Sheet may reveal vital clues about climate change and future sea level rises, and uncover new forms of life, according to a group of UK engineers and scientist.
This month a British engineering team will travel to one of the most remote and hostile environments on Earth — Lake Ellsworth, which is buried under 3 kilometers of ice — in the first stage of a project costing over 7 million pounds.
LONDON, Sept 20 (Reuters) – Solutions such as fog catchers,
seawater greenhouses and fuel cells powered by microscopic
bacteria are on show to help secure water supply and food
production as rising population and climate change put the
world’s natural resources under strain.
Water limits are close to being breached in several
countries, while food output has to rise up to 100 percent by
2050 to sustain a world population seen growing by 35 percent
from 6.9 billion to around 9 billion by that time, two U.N.
reports have shown.