California extends emissions reduction programme

A US Governor has signed a landmark climate bill to extend and improve an emissions reduction programme in California. Governor Edmund G. Brown Jr. extended the cap-and-trade scheme, which provides economic incentives for the successful reduction of greenhouse gas emissions. The programme, which would have expired without legislative action, aims to ensure the state will meet its […]

Renewable projects get €1.2bn from EU

The European Commission has awarded more than €1.2 billion (£976m) in subsidies to help kick-start 23 innovative renewable energy projects. The projects will be co-financed with revenues from the sale of allowances to emit carbon dioxide in a special reserve under the EU Emissions Trading System (ETS). The announcement covers 200 million emission allowances sold […]

South Korea doubles 2013 emissions target

South Korea has doubled its target to cut greenhouse gas emissions next year. Reports claim the Government’s Ministry of Knowledge Economy today announced that industrial and power sector firms will be required to cut emissions by 3% in 2013, compared to the 1.4% target this year. This is equivalent to a combined emissions reduction of […]

UK publishes schedule for EU ETS

The UK Government has published the EU ETS auction schedule from May 2012 up to July 2012. The government intends to auction 12 million allowances over the period. The EU ETS works on a ‘cap and trade’ basis. EU governments are required to set an emissions cap for all installations covered by the system. Each […]