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FILE PHOTO: Steam rises from the cooling towers of the coal power plant of RWE, one of Europe s biggest electricity and gas companies in Niederaussem, Germany, March 3, 2016. REUTERS/Wolfgang Rattay/File Photo
LONDON (Reuters) - The total value of global carbon markets jumped 20% last year to a record 229 billion euros ($277 billion) on the expected tightening of emissions caps, research by Refinitiv showed on Wednesday.
Most of the increase in value came from the European Union’s Emissions Trading System (EU ETS) which accounted for nearly 90% of global value and much of the traded volume in 2020, the annual Refinitiv Carbon Market Year in Review showed.
January 26, 2021
Ten years after it dropped off the sustainability radar, forest-based carbon trading is finally poised to get off the ground for real.
Voluntary carbon trading is about to go mainstream, and we believe it can have a key role in safeguarding the future of our planet.
First, carbon finance can pay for nature conservation and forest protection. Thriving tropical forests benefit all of us. Carbon markets and the financing they provide will help ensure that we can continue to rely on tropical forests by pitching in on the costs of monitoring, control and policing of nature reserves and national parks.
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OSLO (Reuters) - Norway plans to more than triple its national tax on carbon dioxide (CO2) emissions by 2030 to help it reach its climate goals, the government said on Friday, drawing criticism from the country’s powerful oil lobby.
The cost of emissions will be raised to 2,000 Norwegian crowns ($237) per tonne by 2030 from 590 crowns for most industries at present, Environment Minister Sveinung Rotevatn said when presenting the cabinet’s “Climate plan 2021-30”.
“We must make sure that it pays to cut greenhouse gas emissions,” he told a news conference.
Norway, western Europe’s largest oil and gas producer, aims to cut its greenhouse gas emissions by 50-55% by 2030 compared with 1990 levels.
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It has been a blazing start to a new decade, with 13% more large, uncontrolled wildfires around the world this year compared with 2019. This has spelled dire consequences for CO2 levels, which have made worse a terrible COVID-19 pandemic that has led to unprecedented worldwide lockdowns that have rapidly pushed the economy toward digitization.
As a result of the COVID-19 pandemic, governments around the world have been forced to focus on integrating blockchain technology into their financial services. At the 75th anniversary of the United Nations General Assembly, Sky Guo, a founding member of the Official Monetary and Financial Institutions Forum and co-founder of Cypherium an enterprise-focused platform facilitating interoperability between blockchains and central bank digital currencies, or CBDCs discussed how the next generation of foreign policy leaders can leverage emerging digital technologies to solve the world’s most pressing challenges, given that 80