Global Climate News

World Bank pioneered green bonds in 2008, followed by Poland and France in 2017. Sovereign sustainable bonds have grown significantly, with Chile and Uruguay leading sustainability-linked bonds adoption.

AleaSoft Energy Forecasting reported electricity price drops across major European markets in November's third week, driven by increased wind energy production. German market saw lowest prices due to combined wind and solar production.

South African President discussed electricity sector reforms, climate change impacts, and infrastructure development including renewable energy initiatives in address to National Council of Provinces.

SolarPower Europe has proposed an IPCEI for smart electrification to support EU's inverter industry, focusing on hardware, software and disruptive technology advancement. EU currently has 80 GW inverter manufacturing capacity.

OPEC+ has postponed its meeting from Dec 1 to Dec 5, while oil prices remained flat amid rising US gasoline inventories. Brent crude at $72.91 and WTI at $68.79.

UK has announced £1.98 billion investment over three years to IDA, World Bank's fund for lowest-income countries, for economic growth, poverty reduction and climate change projects.

Finance Ministry to review windfall tax on fuel exports as global crude prices stabilize. Government previously slashed windfall tax on domestic crude oil to nil and maintains nil tax on diesel, petrol and ATF exports.

Energy storage systems have seen 40% price reduction since 2022, with ROI periods dropping below 10 years. Commercial revenue streams have become more important due to price volatility from renewable energy integration.

CMA reports increased fuel margins and retail spreads in UK fuel market, with plans to implement new monitoring function and fuel finder scheme to improve competition.