Most industries covered by the European Union's carbon market would see free credits cut by the highest possible rate over the next five years under draft plans, potentially costing some of the biggest polluters millions of euros.
The ongoing transition to low-carbon energy sources may accelerate as economies recover from the impact of the coronavirus crisis, the head of oil and gas company Royal Dutch Shell said on Thursday.
The European Commission sought to boost the flow of private money to tackle climate change on Tuesday by publishing guidelines on what qualifies as environmentally friendly investment, in a move welcomed by the financial industry.
Volkswagen's core VW autos division said on Wednesday that EU requirements on curbing emissions and other climate-related demands would cause profitability to stall between 2018 and 2020.
The accelerating demise of diesel, long used by carmakers to boost fuel-efficiency, is undermining their plans to meet looming European Union CO2 goals and avoid big annual fines.
The falling cost of wind and solar power puts higher renewable energy targets within reach, according to a European Commission study seen by Reuters, pressuring EU legislators to set more ambitious climate goals.
Poland will find it almost impossible to meet an ambitious new target for renewable energy use backed this week by European lawmakers, Energy Minister Krzysztof Tchorzewski said on Thursday.
