Global Climate News

The United States hosted a technical program on Carbon Capture, Utilization, and Storage (CCUS) from March 3-5, 2025, at the George R. Brown Convention Center in Houston, TX. The event featured presentations and discussions on various themes including subsurface storage, site selection, injectivity challenges, and global CCUS implementation. Companies like Net Power, ExxonMobil, and Chevron participated, highlighting advancements in CO2 storage and utilization technologies. The program also included discussions on policy innovations for CCUS in India and a model for developing oil and gas regions globally, such as the Niger Delta.

The European Energy Exchange (EEX) has introduced new \"Mon-Sun Peak Power Futures\" contracts for the Spanish market and short-term futures for the Greek power market, starting February 24, 2025. These aim to facilitate renewables integration by addressing the impact of solar power on electricity spot prices. EEX also extended expiries to ten calendar years for French and Dutch power markets to support renewables integration and provide PPA hedging opportunities.

Global leader in floating energy infrastructure, Höegh Evi, saw a 50% indirect ownership stake sale from funds managed by Morgan Stanley Infrastructure Partners to funds managed by Igneo Infrastructure Partners. Aequitas Limited retained its 50% shareholding.

Hungary-based Károli Gáspár Református Egyetem awarded a natural gas supply contract to MVM Next Energiakereskedelmi Zrt. The contract, worth 212 042 549,00HUF, covers the 2026-2027 gas years and includes an estimated annual quantity of 4 257 453 kWh. E2 Hungary Energiakereskedelmi also participated in the tender.

Spain: Consorci Català pel Desenvolupament Local (CCDL) awarded electricity supply contracts totaling €1,019,200,000. Winners include ENDESA ENERGÍA, S.A.U., FACTOR ENERGIA, S.A., IBERDROLA CLIENTES S.A., ELECTRA CALDENSE ENERGIA, S.A., and ATLAS ENERGIA COMERCIAL, S.L. Contracts cover various voltage levels and self-consumption schemes across Catalonia.

Poland-based 45 Wojskowy Oddział Gospodarczy awarded a contract worth 8 776 666,68PLN to EWE energia Sp. z o.o. for pipeline transport services of natural gas. The contract was awarded without prior call for competition due to technical reasons, as EWE energia Sp. z o.o. is the sole owner of the necessary pipeline network.

Bulgaria: The Bulgarian Academy of Sciences (BAS) and 34 other institutes awarded a contract to Електрохолд Трейд ЕАД for electricity supply and balancing group coordination. The contract, worth 411,715.50 BGN, covers 24 months with a possible 12-month extension. The estimated total value was 12,228,240.00 BGN.

The UK is committed to working with African partners to build resilience against threats from terrorism, as well as addressing the root causes that drive conflict and instability. This support includes a $60m package of support in East Africa to regional and Somali-led efforts to counter terrorist groups including Al-Shabaab and Daesh affiliates. Improving governance, reducing poverty and tackling climate change are critical to addressing the underlying drivers of terrorism.

The article discusses the importance of economic policy focused on combating climate change and accelerating the green and digital transformation. Helge J. Pedersen, Group Chief Economist at Nordea, highlights this as a crucial issue in the world economy.

Trump's day one executive orders are expected to worsen the climate crisis.

The Institute and Faculty of Actuaries (IFoA) and the University of Exeter released a report, Planetary Solvency, assessing the risk of societal disruption from nature's loss. The report uses risk management techniques to guide policy decisions and highlights the increasing risk of 'Planetary Insolvency'—severe societal and economic disruption from ecosystem service breakdown. Five key recommendations are proposed to mitigate this risk.

The UK Prime Minister’s office is reportedly blocking the licensed release of beavers in England. Bob Ward, in a letter to *The Guardian*, highlights the numerous benefits of beaver reintroduction.

UK-based Capella BESS Ltd has been granted an electricity generation licence by the Gas and Electricity Markets Authority. The licence authorises the company to generate electricity.

The European Union invested €95.3 billion in climate change mitigation in 2023, representing 0.55% of its GDP. Lithuania and Denmark had the highest investment shares at 1.5% of GDP, while Cyprus and Ireland had the lowest, below 0.1%. Investment showed an upward trend from 2005 to 2021, peaking at 0.64% of GDP before slightly declining in 2022 and 2023.

The UK government has launched the Countryside Stewardship Higher Tier (CSHT) scheme to offer payments to farmers and land managers for environmental protection and improvement. The scheme prioritizes pre-application advice for specific groups and will open fully in summer 2025. Payment rates were updated on January 1, 2024, and the scheme aims to have around 1,200 new agreements by March 2026. Capital grants are also available for supporting actions.

The Hong Kong Monetary Authority, European Central Bank, and Bank of Finland Institute for Emerging Economies held a joint conference on "Europe, Asia and the Changing Global Economy." The conference highlighted the need for structural reforms to boost economic growth, emphasizing cooperation in green innovations and technology transfers to support faster transitions, reduce pollution, and mitigate climate change.

UK-based TC East Anglia One OFTO Limited experienced a transmission service reduction from February 28, 2024, to April 11, 2024. Ofgem determined this was due to an exceptional event and adjusted the licensee's system incentive performance accordingly.

UK-based E.ON UK Battery Storage Systems Limited has applied for an electricity generation licence from the Gas and Electricity Markets Authority. The closing date for comments is 18 February 2025.

UK-based Bramford Green Limited has applied for an electricity generation licence from the Gas and Electricity Markets Authority. The closing date for comments is 18 February 2025. Contact licensing@ofgem.gov.uk for more information.

UK-based Melksham Calne Green Limited has applied for an electricity generation licence from the Gas and Electricity Markets Authority. The closing date for comments is 18 February 2025. The application notice was also published on Melksham Calne Green Limited's website.