Germany looks set to introduce an economy-wide system of carbon emissions pricing after senior officials from both parties of Berlin's governing coalition reached a consensus on the proposal, the Frankfurter Allgemeine reported on Sunday.
China expanded its coal-to-gas and coal-to-electricity projects to 35 cities in 2018 from 12 cities the previous year, China's environment minister, Li Ganjie, said on Monday, as the world's second-largest economy stepped up its fight against smog.
Spain aims to close all seven of its nuclear plants between 2025 and 2035 as part of plans to generate all the country's electricity from renewable sources by 2050.
German Chancellor Angela Merkel said on Tuesday that her country would withdraw from coal-fired power production by 2038, showing her support for the deadline recommended by a government-appointed commission.
While coal mining firms, utility companies and power consumers can benefit indirectly from the subsidy, the big winners are a diverse group of investors who identified the incentive as an easy way to make money.
The Task Force on Climate-Related Financial Disclosures was set up by the G20's Financial Stability Board at the end of 2015 to develop a voluntary framework for companies to disclose the financial impact of climate-related risks and opportunities.
