RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2024-11-05 06:50:00

EUROPEAN CLIMATE NEED MONEY

EUROPEAN CLIMATE NEED MONEY

PLATTS - 31 Oct 2024  - Greenhouse gas emissions in the EU fell by 8.3% in 2023, driven by significant reductions from power and industrial installations but more efforts are needed for the bloc to meet its 2030 climate targets, the European Commission said on Oct. 31.

This is the largest annual drop in a decade except for 2020, when emissions fell by 9.8% due to the COVID-19 pandemic.

Emissions are now 37% below 1990 levels but the EU's GDP has grown by 68% in 2023 from 1990, "showing the continued decoupling of emissions and economic growth," the EC added.

The EC also said that "continued" and "further action" is needed for the EU to meet its ambitious target of reducing emissions by 55% in 2030 from 1990 levels.

Analysts at S&P Global Commodity Insights forecast EU emissions would decline by 42% to 2030, and by 82% to 2040.

EU ETS emissions drop

Emissions from power and industrial installations under the EU Emissions Trading System experienced a record decrease of 16.5% in 2023.

This decline was driven by a significant increase in renewable electricity production, primarily from wind and solar, which replaced coal and gas as the bloc's power sector made substantial progress in decarbonizing its operations.

Currently, EU ETS emissions are approximately 47% below 2005 levels and are on track to achieve the 2030 target of a 62% reduction, according to provisional estimates.

The fall in emissions coincided with a drop in industrial demand, as the EU has faced macroeconomic challenges, including high inflation and weak manufacturing data in recent years. This situation has exerted significant pressure on the EU's carbon prices, which have experienced a year of low values.

Platts, part of S&P Global Commodity Insights, assessed EU allowances under the ETS for December 2024 at Eur65.65/mtCO2e ($71.34/mtCO2e).

The EU ETS generated revenues of Eur43.6 billion in 2023 for climate action investments, with Eur7.4 billion assigned to the EU Innovation Fund and the Modernisation Fund, and the rest of the money going to Member States directly.

-----


Earlier:

EUROPEAN CLIMATE NEED MONEY
2024, October, 23, 07:00:00
OIL PRICE: BRENT NEAR $76, WTI ABOVE $71
Brent dipped 20 cents, or 0.3%, to $75.84 a barrel , WTI shed 20 cents, or 0.3%, to $71.54 a barrel.
EUROPEAN CLIMATE NEED MONEY
2024, October, 18, 07:00:00
OIL PRICE: BRENT ABOVE $74, WTI NEAR $71 ANEW
Brent gained 8 cents, or 0.1%, to $74.53 a barrel, WTI fwas at $70.82 a barrel, up 15 cents, or 0.2%.
EUROPEAN CLIMATE NEED MONEY
2024, October, 18, 06:50:00
ГЛОБАЛЬНОЕ ЭНЕРГЕТИЧЕСКОЕ СОТРУДНИЧЕСТВО
«В государствах-членах ФСЭГ сосредоточено около 70% всех мировых запасов газа, а доля в мировом экспорте составляет 40%. Это важная площадка, позволяющая разрабатывать основные подходы и тенденции к будущему газовой отрасли»,
EUROPEAN CLIMATE NEED MONEY
2024, October, 8, 07:00:00
OIL PRICE: BRENT NEAR $80, WTI NEAR $76
Brent fell $1.17, or 1.5%, to $79.76 per barrel, WTI fell $1.19, or 1.6%, to $75.95 a barrel.
EUROPEAN CLIMATE NEED MONEY
2024, October, 7, 06:55:00
RUSSIAN OIL REVENUE +4%
The Russian budget received a total of 597.2 billion rubles ($6.28 billion) from its oil industry last month, up nearly 4% from a year earlier, the Finance Ministry said on Thursday.
EUROPEAN CLIMATE NEED MONEY
2024, October, 7, 06:45:00
ГЛОБАЛЬНЫЙ ЭНЕРГОПЕРЕХОД
По словам Главы Минэнерго России, сейчас весь мир находится в условиях энергоперехода. Для эффективной работы ТЭК дружественным странам следует консолидировать усилия.
EUROPEAN CLIMATE NEED MONEY
2024, October, 4, 06:55:00
ОПЕК+ РОССИЯ: ПОЛНОЕ СООТВЕТСТВИЕ
В дальнейшем страны подтвердили готовность поддерживать полное соответствие требованиям сделки ОПЕК+.
EUROPEAN CLIMATE NEED MONEY
2024, October, 4, 06:50:00
OPEC + RUSSIA: FULL CONFORMITY
The JMMC emphasized the critical importance of achieving full conformity and compensation.
All Publications »
Tags: EUROPE, CLIMATE, INVESTMENT, FINANCE