Countries raised a record $95 billion last year by charging firms for emitting carbon dioxide, but prices are still too low to drive changes needed to meet Paris climate accord targets, the World Bank said in a recent report.
A hundred and ninety-three countries have unanimously approved the creation a a global greenhouse gas monitoring mechanism, the World Meteorological Organization (WMO) announced on May 24th, 2023. The landmark decision happened as GHG concentrations are at record levels – “higher than at any time over the last 800,000 years”, warned WMO.
To prevent catastrophic climate change scientists and governments are rushing to find ways to remove some of the carbon pollution from the air, and to capture what’s still being produced by power plants and industrial facilities.
At the European level, the general aim of the European Commission’s energy policy is to achieve carbon-neutrality by 2050. The energy sector is responsible for more than 75% of the EU’s greenhouse gas emissions which makes increasing the share of renewable energy a crucial element of achieving this goal in the future.
The European Union has been ramping up its climate action efforts, adapting rapid pace in climate negotiations. Earlier this month, it voted to approve a deal to reform the EU’s carbon market to cut emissions by 62% from 2005 levels by 2030. This mechanism has helped reduce power plant and factory emissions by 43% since …
The company Bord na Mona is attempting to rehabilitate 33,000 hectares of Irish midlands bog in one of the largest environmental projects being undertaken in Europe. The company spent its first 80 years draining the bogs to extract peat. It will spend the next two decades rewetting them in an attempt to reverse the process.
