Previous reform proposals never made it through EU governments because of a major obstacle: requirement for unanimous support. Existing carbon pricing systems like the one California operates with Quebec would also be in limbo, as the California credits would possess “no value” because buyers would have no assurance the U.S. had accurately accounted for those reductions, said Jeff Swartz, the climate policy and carbon pricing director at advisory and investment firm South Pole, which has worked on U.N. pilot programs. Here’s POLITICO’s deep-dive analysis of the major policy promises, or below. Besides that, the Commission will assess the need for measures to improve the tech sector’s energy efficiency. Norway ramps up Western Europe's largest oilfield as oil's future is questioned, Reuters reported. MADRID — U.N. climate change talks enter the final week here on Monday as senior national officials arrive to try to hammer out rules to link the nascent carbon markets that are deemed critical to reaching the targets under the Paris Agreement. NO TAXONOMY DEAL: Many thought negotiators reached a breakthrough last week when they agreed on a provisional deal between the Council and Parliament on rules meant to clarify what counts as sustainable investment. Chance of support: Parliament is expected to lobby for strong pesticide and fertilizer restrictions (spearheaded by the Greens and some Socialist & Democrat MEPs) — as are countries such as France. Shell defended the project as needed to help meet Europe’s demand for natural gas while helping it to reduce carbon dioxide emissions from coal plants. In the meantime, climate activists like Greta Thunberg are piling huge pressure on the aviation industry to decarbonize, leading to a renewed call for more sustainable fuels to be available at competitive prices. POLITICIANS TAKE OVER: We're entering the final week of the COP25 climate talks in Madrid. Little progress has been made in overcoming one of the biggest hurdles in the talks: increasing the financial support that rich, industrialized nations send to poorer countries to help them develop clean energy and adapt to more ferocious storms or devastating droughts. Potential impact: Could prove hugely sensitive if the EU and the U.S. start new trade talks, after Washington withdrew from the Paris agreement. Get a 40 percent discount for POLITICO Pro subscribers if you register before December 20.**. February 26 is flagged for the climate law proposal. An Allseas spokesperson confirmed that work on the pipeline was ongoing but referred further questions to Nord Stream 2, which did not immediately reply. Potential impact: Huge. But after the first week of talks, that effort is not going well. Potential impact: Decent funding could go a long way to getting skeptical countries such as Poland, Hungary and the Czech Republic on board with EU climate efforts. “I’m fundamentally convinced that fighting climate change has to be a central plank of policy,” the Frenchwoman told the European Parliament’s Committee on Economic and Monetary Affairs (ECON). Is this new? "Until then the EP will not renegotiate." Airlines and agricultural companies have also shown an interest in the trade in credits, said Ceres’ Martel and Kelley Kizzier, associate vice president for international climate with the Environmental Defense Fund. Is this new? Is this new? ", **A message from FuelsEurope: EU citizens are well aware that more options are required for the transition to carbon neutral mobility. Another thorny issue that politicians will have to grapple with this week is how to support developing countries devastated by hurricanes, floods and other climate-related shocks, called "loss and damage" in climate negotiators' lingo. "Our goal is to reconcile the economy with our planet, to reconcile the way we produce, the way we consume with our planet and to make it work with our people.". The previous Commission has referred more than 15 countries to court over their failure to meet existing air quality standards. 10 Dec 2019 by Zack Colman / POLITICO In the Media. Climate protests hit Madrid: Youth activists flooded the streets of the Spanish capital on Friday — part of a global protest hoping to ramp up pressure on negotiators and politicians taking part in the COP25. POLITICO Pro subscribers don’t just get news early, they also have access to a suite of tools that helps them navigate an increasingly complex and uncertain policy landscape and complete their policy work. “I wish them well, I think we do want a global offset and trading program that works for American businesses, they’re going to be a big part of it. On trade, the communication pledges to make respect of the Paris Agreement "an essential element for all future comprehensive trade agreements." The ECB can also make sure its corporate pension portfolio for employees holds greener assets. In May 2019, former Energy Secretary Rick Perry predicted smooth sailing for a bill from Senator Ted Cruz (Republican-Texas) that sought to sanction companies working on the pipelines, and he said Trump would sign it. Both companies have also told the Trump administration that leaving the Paris accord would diminish growth in new industries and raise costs for U.S. businesses by foreclosing participation in the trading program. The struggle over the next few days will be to get wealthy nations to give up their long-held opposition to the loss and damage issues that were first put on the agenda in 1991 by Vanuatu, a nation of islands in the South Pacific. What proportion of your volumes come from PFAD? But reviving those credits would “water down” the Paris Agreement by allowing potentially billions of tons worth of questionable emissions credits to satisfy national emissions goals, said Kelley Kizzier, associate vice president of international climate with the Environmental Defense Fund. Latest news, analysis and comment from POLITICO’s editors and guest writers on the continent. Protesters are also descending on COP25 climate talks in Madrid to urge governments to take the fight against climate change more seriously. That's also a position pushed by environmental campaigners, worried that a weak deal here would lock in loopholes for decades to come. The agency received a total of seven tenders with projects totalling 135 megawatts for onshore wind and 136 MW for solar power plants. Trump has defended the Paris exit as a blow for U.S. economic sovereignty, contending that the non-binding pact that the Obama administration negotiated in 2015 would mean “lost jobs, lower wages, shuttered factories, and vastly diminished economic production” for the United States. — The Finnish Council presidency is back at the drawing board after EU ambassadors reject the taxonomy deal. The date is still in square brackets. 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