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Finance

Countries promise clean energy boost at COP28 to push out fossil fuels

118 countries back pledge to triple world's clean powerGoal would slash fossil fuel use this decadeSmaller club of countries plan to scale up nuclear energyDUBAI, Dec 2 (Reuters) - Governments launched new initiatives on Saturday to bolster clean energy and to wean themselves off fossil fuels at the U.N. climate summit in Dubai, where countries are grappling with how to halt the non-stop rise in planet-warming emissions.In one of the most widely supported initiatives, 118 governments pledged to triple the world's renewable energy capacity by 2030 at the U.N.'s COP28...
Banking

EU keeps EastMed gas pipeline on new list of priority projects

MILAN, Nov 28 (Reuters) - The European Commission has maintained a proposed pipeline connecting the gas reserves in the Eastern Mediterranean to Greece via Cyprus and Crete on its new list of Projects of Common Interest (PCI) published on Tuesday.Projects included in the PCI list have access to a fast-track permitting process and special funding.Energy group Edison (EDNn.MI) and Greece's DEPA International Projects are the sponsors of the project through their joint venture IGI Poseidon.The joint venture has still to take a final investment decision (FID) on the pipeline, which...
Finance

Exclusive: France, US to propose ban on private finance to coal-fired plants at COP28 – sources

'Cop28 UAE' logo is displayed on the screen during the opening ceremony of Abu Dhabi Sustainability Week (ADSW) under the theme of 'United on Climate Action Toward COP28', in Abu Dhabi, UAE, January 16, 2023. REUTERS/Rula Rouhana/File Photo Acquire Licensing RightsNEW DELHI/BRUSSELS/WASHINGTON, Nov 21 (Reuters) - France, backed by the United States, plans to seek a halt to private financing for coal-based power plants during the U.N. climate conference later this month, three sources familiar with the deliberations told Reuters in India and Europe.The plan, which was communicated to India...
Finance

EU agrees mineral supply targets to cut reliance on China

European Union flags fly outside the European Commission in Brussels, Belgium November 8, 2023. REUTERS/Yves Herman Acquire Licensing RightsCritical minerals law likely to enter force early 2024Deal increases ambitions on recyclingAluminium and synthetic graphite added to key mineralsBRUSSELS, Nov 13 (Reuters) - Negotiators for EU governments and lawmakers reached a deal on Monday on targets for domestic supply of critical minerals such as lithium and nickel to reduce its reliance on third countries, principally China.The European Commission proposed the Critical Raw Materials Act in March, a centrepiece of EU strategy...
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