CLIMATE CHANGE

European Union lawmakers approved a list on Wednesday of EU industries that stand to receive help with meeting the cost of permits to emit carbon dioxide.

World powers have a very good chance of reaching a political deal to target global curbs in carbon emissions at a U.N. conference in Copenhagen next month, British climate change expert Nicholas Stern said on Wednesday.

Carbon emissions prices could become the driver for other energy commodities within the next 5-10 years, said Jean-Francois Steels, head of Mercuria Energy Group's newly expanded emissions trading team.

China is pushing to complete its first commercial-scale power plant that can capture and store emissions, but must do more research on how and where to lock away carbon dioxide if the technology is to get wide roll-out.

Time has almost run out to break deadlock on a U.N. climate deal supposed to be struck in Copenhagen next month, the United Nations and Denmark warned negotiators at a final preparatory meeting on Monday.

Australia's greenhouse gas emissions fell in the year to June, the first decline since an greenhouse inventory started in 1998, as the economy slowed due to the global financial crisis.

A U.N. scheme designed to cut greenhouse gas emissions and transform the livelihoods of millions of people in developing countries is picking up speed, with dozens of projects being developed or evaluated.

A slumping economy pushed down Japanese CO2 emissions from burning fuels by a record 6.7 percent in the year to March 2009, the trade ministry said on Friday, but the country is still far from meeting its Kyoto Protocol obligations.

European Union leaders resolved a funding dispute on Friday to agree a negotiating position for talks on a global deal to combat climate change.

The European Union can cut carbon dioxide emissions by 30 percent from 1990 levels by 2020 at almost no cost, according to a report by climate consultancy firm Ecofys released on Wednesday.

Big energy and engineering companies will reap most profit from a climate deal due in December, as they use their financial and intellectual clout to grab low carbon subsidies

New rewards to store carbon in trees are driving forestry investments, but green groups fear they pose a threat to ancient woodlands and rainforests.

Australia stepped up lobbying ahead of the global climate talks in Copenhagen on Wednesday, with Prime Minister Kevin Rudd accepting a key role as Climate Change Minister Penny Wong heads to Spain for talks.

Asian cities are likely to beat Australia in the race to become a carbon-trading hub, despite Australian plans to set up the region's first cap-and-trade market, industry experts said on Wednesday.

The United States does not expect to reach an agreement on climate change with China during President Barack Obama's visit to Beijing next month, the country's senior climate change envoy said on Wednesday.

A Senate committee on Tuesday launches three long days of hearings on a Democratic climate bill in a bid to further convince an international summit in December that Washington is serious about tackling global warming.

The United States will need its entrepreneurial spirit to compete with deep-pocketed China in the race to develop green energy technologies, U.S. Energy Secretary Steven Chu said on Monday.

The European Union should shift more of its spending to climate and energy security as part of a radical overhaul of the bloc's budget, according to a draft paper by the EU's executive arm

Public finance could help stimulate private investment in climate change solutions in developing countries, a report commissioned by the United Nations' Environment Program showed on Monday.

Poland will soon sign a deal to sell a total 40 million euros ($60 million) of surplus greenhouse gas emission rights to Spain and Ireland, the first such government-to-government deal under the Kyoto Protocol, its environment minister said.

President Barack Obama said on Friday he saw consensus building in the U.S. Congress on climate change and energy legislation that is considered critical to international talks on a new global warming pact.