EU: The Environment Committee is set to vote on a new plan to support Europe’s emissions trading scheme. The combination of an oversupply of credits and faltering demand has led the price of ETS credits to plummet. Backloading proposals to restrict the flow of credits were rejected by the EU Parliament in April, but supporters remain confident a new plan will win support. Watch the vote from 15:00 on the Europa website. (European Parliament/EPTV)
The Environment Committee is set to vote on a new plan to support Europe’s emissions trading scheme. (Source: European Parliament)
World: The World Bank has cautioned climate change is undermining economic development in poor countries. Droughts, floods, heatwaves, sea-level rises and fiercer storms will lead to food shortages and increased migration as people try to escape the effects of global warming. (RTCC)
UK: The Met Office concluded talks yesterday investigating unusual weather patterns in northern Europe, the UK and the North East of the US causing serious washout summers and colder than average winters. (Met Office)
Europe: Speaking in Brussels yesterday, UK climate and energy chief Ed Davey launched his strongest attack yet on hardline climate change sceptics, branding them “crackpots” and “conspiracy theorists”. Davey called on the European Union to adopt a 50% carbon reduction target by 2030 warning the consequences of inaction would be severe. (RTCC)
France: Rivals Airbus and Boeing have vowed to outdo each other in delivering greener, quieter, more fuel- and cost-efficient aircrafts. At the Paris Air Show taking place this week, US-based Boeing presented its latest long-distance jet. (EU Activ)
Europe: The European Union’s Emissions Trading Scheme needs to be overhauled if it is to meet the EU’s own carbon reduction objectives. The Policy Exchange report calls for extending its carbon emissions reduction target from 40% by 2030 to 55% by 2035. (Policy Exchange)