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UN carbon market inches closer after COP29 agreement
UN carbon market inches closer after COP29 agreement
by  AFP

The creation of a UN-backed global carbon market has taken a step closer to reality with governments approving new standards for the use of credits to meet climate targets. Credits have long been bought and traded in the voluntary carbon market, but no common set of rules governs these trades, and the sector has been shaken by high-profile scandals.

Boeing expects post-strike output recovery to take several weeks
Boeing expects post-strike output recovery to take several weeks
by  AFP

Boeing said Tuesday that it delivered 14 aircraft in October, but production will likely take several weeks to return to normal after a worker strike that hit operations at two major assembly plants. Boeing said Tuesday that it would be several weeks before it fully restarts airplane production, given that restarting a manufacturing line is a multi-stage process.

UK to beef up its emissions cuts as it bids to be 'climate leader'
UK to beef up its emissions cuts as it bids to be 'climate leader'
by  AFP

The UK will aim to reduce greenhouse gas emissions by 81 percent on 1990 levels by 2035, Prime Minister Keir Starmer announced Tuesday, as his government ramps up its ambitions to help curb climate change. Ex-prime minister Boris Johnson had committed in 2021 to curb such emissions by 78 percent over the same period compared to 1990.

Nations to submit boosted climate plans: what's at stake?
Nations to submit boosted climate plans: what's at stake?
by  AFP

Nations have begun setting carbon-cutting targets for the decade ahead, and how ambitious these pledges are could make or break global efforts to avoid dangerous levels of climate change. There is no set template for countries to follow but richer countries -- historically the largest emitters -- have a responsibility to pledge the deepest emission cuts.

EU vessels to cease fishing in Senegal after accord expires
EU vessels to cease fishing in Senegal after accord expires
by  AFP

European fishing vessels will imminently cease activities in Senegalese waters after the non-renewal of an agreement between Brussels and Dakar, EU ambassador Jean-Marc Pisani said Tuesday. Pisani said the agreement would not be renewed for the time being after the European Commission notified the Senegalese government in May of "shortcomings" regarding illegal, unreported and unregulated fishing.

Bayer shares hit 20-yr low as problems pile up
Bayer shares hit 20-yr low as problems pile up
by  AFP

Bayer's shares plunged to a 20-year low Tuesday after the German chemicals giant cut its earnings outlook and posted a worse-than-expected loss on woes related to its troubled agrochemicals division. It also cut the outlook for profit margins in the agrochemicals division.

C.Africa urges lifting of embargo on diamond exports
C.Africa urges lifting of embargo on diamond exports
by  AFP

The Central African Republic (CAR) sought Tuesday to convince the regulatory body for global diamond trading to lift all restrictions against it, ending an export embargo in place for more than a decade. The Kimberley Process (KP) regulatory body opened its plenary assembly in Dubai on Tuesday under the presidency of the United Arab Emirates.

Court challenge begins against UK oil and gas field approvals
Court challenge begins against UK oil and gas field approvals
by  AFP

Two environmental groups kicked off a legal challenge in Scotland on Tuesday to block the Rosebank and Jackdaw oil and gas fields in the North Sea, with activists optimistic of success. Regulatory approval for drilling at the Rosebank oil field, 145 kilometres (90 miles) off the Shetland Islands in Scotland's far north, was granted last year.