European wholesale market power prices gained strongly on Friday as the prospect of colder weather and French strike action boosted next week delivery, while futures rallied along with related carbon and oil markets.
Prodeco, a wholly-owned subsidiary of Glencore, will hand back its Colombian mining contracts after a review found restarting the unit's operations would not be economical, the London-listed miner said on Thursday.
By Reuters Staff
(Adds South 32 comment)
MELBOURNE Feb 5 (Reuters) - An Australian planning body on Friday blocked global miner South32 Ltd’s planned coal mine extension in New South Wales state, citing concerns over its potential irreversible impact to Sydney’s water resources.
The decision by the New South Wales Independent Planning Commission halts South32’s plans to extend the life of its underground Dendrobium metallurgical coal mine to 2048.
In its ruling, the commission found “the risks of adverse impacts on the environment are high, and that those impacts are not appropriately manageable and are likely to be irreversible.”
“We knew there were risks, as there are nowadays in any coal mine application,” said Peter O’Connor, a mining analyst at investment firm Shaw and Partners. “Is this a company breaker? No. Is it disappointing? Yes.”
By Michelle Nichols NEW YORK (Reuters) - U.N. Secretary-General Antonio Guterres reappointed former New York Mayor Michael Bloomberg as his special envoy on climate ambition and solutions on Friday to mobilize stronger and more ambitious climate action ahead of a global summit in November. Bloomberg was previously the U.N. special envoy for climate action between March 2018 and November 2019. He stepped down shortly before announcing his bid for the Democratic U.S. presidential nomination. He dropped out of the race in March 2020. The media mogul will support Guterres in growing and strengthening a coalition of governments, companies, cities and businesses committing to net-zero emissions by 2050 in line with the goals of the 2015 global climate deal struck in Paris, the United Nations said. In 2015, nearly 200 countries committed to halt rising temperatures quickly enough to avoid disastrous climate change. The United Nations in November will stage a crucial follow-up climate summit i
First published on Fri 5 Feb 2021 01.00 EST
Pressure is growing on the government over its support for a new coalmine in Cumbria, as the UK prepares to host the most important UN climate summit since the Paris agreement was signed in 2015.
Developing country experts, scientists, green campaigners and government advisers are increasingly concerned about the seeming contradiction of ministers backing the new mine – the UK’s first new deep coalmine in three decades, which will produce coking coal, mostly for export, until 2049 – while gathering support from world leaders for a fresh deal on the climate crisis.
The UK is to host the Cop26 UN climate summit in Glasgow in November, at which countries will be asked to sign up to long-term targets of net zero emissions by 2030, and to submit short-term national plans setting out reductions to their emissions between now and 2030.