Reuters President-elect Joe Biden is close to announcing a slate of Cabinet nominees who will be central to his administration’s sweeping plan to fight climate change, according to sources familiar with the matter. For the interior secretary post, Biden appears to favor U.S. Representative Deb Haaland of New Mexico, three informed sources said, a pick, that if confirmed by the
Reuters BRUSSELS – The European Commission on Tuesday proposed rules to restrict funding for natural gas projects and instead funnel cash into low-carbon technologies to meet climate goals. The EU’s “TEN-E” rules define which cross-border energy projects are eligible to receive certain EU funding and fast-tracked permits. The Commission on Tuesday proposed a rewrite of the rules, which guided 4.7
Reuters The British government said on Monday it will establish a domestic emissions trading scheme (UK ETS) from Jan. 1 to replace the current EU regime, as it presented its long-awaited white paper on energy policy. Britain exits the EU ETS at the end of the Brexit transition period and had previously said it may introduce either a domestic ETS
Reuters BERLIN – Germany’s ruling coalition has agreed changes to a new energy law that aims to boost renewable power and help the country meet its goal of producing 65% of its electricity from green sources by 2030, the environment minister said on Monday. The energy law is now expected to go before a parliamentary committee on Tuesday ahead of
Reuters LONDON (Reuters) – A group of 30 asset managers with more than $9 trillion under management launched the Net Zero Asset Managers Initiative on Friday to help clients ensure their portfolios are carbon neutral by 2050. The group, which includes Schroders and UBS Asset Management, said it would prioritise securing real reductions in emissions at the companies in which
Reuters LONDON – The price of benchmark European Union carbon permits rose to an all-time high above 31 euros a tonne on Friday, after EU leaders reached a deal on more ambitious emissions cuts this decade. The contract rose to 31.30 euros a tonne, its highest since the EU’s Emissions Trading System (EU ETS) was launched in 2005. European Union
Reuters WASHINGTON – President-elect Joe Biden has vowed an overhaul of U.S. energy and environment policy to fight climate change, with a goal of bringing the economy to net-zero emissions by 2050. While the plan has yet to be clearly defined, it includes things like ramping up clean energy technology and usage, reducing dependence on fossil fuels, federal procurement of
Reuters LONDON – Oil companies such as BP and Shell are nurturing nature as a future revenue stream, betting on an expected rise in carbon credit prices as their fossil fuel profits ebb. BP last year put $5 million into Finite Carbon, a company that connects forestry owners with companies seeking to offset their climate-warming emissions via-tree planting. The Californian
Reuters TOKYO – Fossil fuels should account for less than half of Japan’s mix of power sources in 2030, a group of ruling party lawmakers proposed on Wednesday as Prime Minister Yoshihide Suga aims to cut the nation’s greenhouse gas emissions to net zero by 2050. That would be sharply down from the 75.8% that fossil fuels such as coal
Reuters RIO DE JANEIRO – Petrobras does not expect to invest in renewables over the next five years, Chief Executive Roberto Castello Branco said on Tuesday, adding that the Brazilian state-controlled company will instead put money into technologies to reduce the carbon footprint of its oil extraction activities. Castello Branco has repeatedly said Petroleo Brasileiro SA, as the company is
Reuters OSLO – China’s greenhouse gas emissions will increase in 2020 compared to 2019 as they have rebounded after the COVID-19 outbreak, the head of the International Energy Agency said on Wednesday. “As of today, Chinese emissions this year, 2020, will be higher than in 2019, they rebounded,” Fatih Birol told a digital energy conference organised by Norwegian oil firm
Reuters BRUSSELS – The European Union has drafted a deal to curb greenhouse gas emissions by at least 55% by 2030, against 1990 levels, a target it hopes its 27 members will endorse at a summit next month, the document showed. If the Dec 10-11 EU leaders’ meeting approves the draft conclusions seen by Reuters, it could make the EU
