Reuters LONDON/BRUSSELS – Some British companies are still buying permits from the EU carbon market as uncertainty over Britain’s planned domestic carbon market means they can’t yet use it to protect themselves against future price rises. When utilities sell power — often years in advance — they also buy Emissions Trading System (ETS) permits to hedge the carbon price exposure
Reuters WASHINGTON – Incoming U.S. president Joe Biden will announce America’s return to the international Paris Agreement to fight climate change on Wednesday, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming. The announcements will also include a sweeping order to review all of ex-President Donald Trump’s actions weakening climate change
Reuters WINNIPEG, Manitoba/OSLO – Two of the world’s biggest fertilizer producers, CF Industries Holdings Inc and Yara International Asa, are seeking to cash in on the green energy transition by reconfiguring ammonia plants in the United States and Norway to produce clean energy to power ships. The consumption of oil for transportation is one of the top contributors to global
Reuters BRUSSELS – The European Union’s proposed carbon border charge is essential to the survival of its own industries and the bloc will impose the levy on non-EU competitors unless they commit to lowering their emissions, the bloc’s climate policy chief said on Monday. The EU’s executive Commission is expected to propose its carbon border adjustment policy before the end
Reuters PARIS – Total is paying $2.5 billion for a share in Indian renewable energy firm Adani Green Energy Limited (AGEL) and a portfolio of solar power assets, marking the latest step in the French energy company’s drive to reduce its dependence on oil. For its investment, Total will get a 20% stake in AGEL and a seat on its
Oil and Gas 360 Chevron Corporation (NYSE: CVX) today announced a Series C investment in San Jose-based Blue Planet Systems Corporation (“Blue Planet”), a startup that manufactures and develops carbonate aggregates and carbon capture technology intended to reduce the carbon intensity of industrial operations. Chevron Technology Ventures’ ongoing investment in carbon capture and utilization technologies supports Chevron’s focus on a
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
