Government loans £120m to British Steel to pay EU carbon bill

It has stepped in to purchase the necessary carbon credits on behalf of the company

British Steel seeks £100m from government to pay EU carbon bill

The move has been prompted by Brexit uncertainty

Bicycle projects can earn saleable carbon credits

Transportation of urban passengers is said to have accounted for 7% of global emissions in 2015

Ireland faces huge costs as emissions surge

Greenhouse gas emissions have significantly increased in Ireland, making achievement of Ireland’s long term decarbonisation goals “ever more difficult”. That’s according to the Irish Environmental Protection Agency (EPA), which revealed the nation saw a 3.5% increase last year. Emissions in the energy sector rose by 6.1%, transport emissions by 3.7% and agriculture emissions by 2.7%. […]

Germany seeks carbon credits to offset official travel

Germany has launched a tender process to buy more than 235,000 credits to offset last year’s carbon emissions from business travel. The government is compensating for the climate footprint of all its official travel through UN-certified carbon offsets, according to the UN Framework for Convention on Climate Change (UNFCCC). The tender process is open until […]

MEPs vote to reduce emissions trading carbon credits

Members of the European Parliament (MEPs) have backed proposals to reform the EU Emissions Trading System (ETS) beyond 2021 to balance greater cuts in greenhouse gases. The EU ETS works as a ‘cap and trade’ system and is designed to cut pollution by making businesses pay for producing greenhouse gas emissions. The system has however […]

Fraudulent firms’ £3.5m carbon credit scams

The management teams of two companies running carbon credit scams have been banned from trading. The disqualifications follow an Insolvency Service investigation into their fraudulent selling of voluntary emission reductions (VERs), a type of carbon credit, to members of the public as an investment. Both companies lied about the nature of the VERs they were selling, which are intended to be retired by businesses or individuals to […]

Five private firms win in $13m climate auction

The World Bank has allocated $13 million (£10.7m) through its third climate auction. A total of 13 companies participated in the online Pilot Auction Facility (PAF), with five firms winning contracts. That gives them the right to sell their future carbon credits to PAF at a fixed price of $2.10 (£1.7)/carbon credit. If redeemed, these […]

New £152m green bond to protect forests

A £152 million green bond to support private sector development and prevent deforestation in developing countries has been launched. The five-year bond has been sold to major global institutional investors including CalSTRS, Theehouse Investments, TIAA-CREF and QBE. The bond will be listed on the London Stock Exchange. It has been issued by the International Finance […]

Green company boss disqualified for carbon credits scam

An acting director of a green company has been disqualified for 13 years for his actions. He sold duplicated carbon credits and tried to cover it up, according to the Insolvency Service. John Coates, although not formally appointed a director of Green Deal Advice 247 Limited in Lancashire, was the dominant driving force. He was […]