EU plans to add carbon credits to new climate goal, document shows

EU plans to add carbon credits to new climate goal, document shows
People cool off underneath water fountains in the Madrid Rio recreation area during the first heatwave of the summer in Madrid, Spain. (AFP)
Short Url
Updated 29 June 2025

EU plans to add carbon credits to new climate goal, document shows

EU plans to add carbon credits to new climate goal, document shows
  • An internal Commission summary of the upcoming proposal said the EU would be able to use “high quality international credits” from a UN backed carbon credits market to meet 3 percent of the emissions cuts toward the 2040 goal

BRUSSELS: The European Commission is set to propose counting carbon credits bought from other countries toward the European Union’s 2040 climate target, a Commission document seen by Reuters showed.
The Commission is due to propose a legally binding EU climate target for 2040 on July 2.
The EU executive had initially planned a 90 percent net emissions cut, against 1990 levels, but in recent months has sought to make this goal more flexible, in response to pushback from governments including Italy, Poland and the Czech Republic, concerned about the cost.
An internal Commission summary of the upcoming proposal, seen by Reuters, said the EU would be able to use “high-quality international credits” from a UN-backed carbon credits market to meet 3 percent of the emissions cuts toward the 2040 goal.
The document said the credits would be phased in from 2036, and that additional EU legislation would later set out the origin and quality criteria that the credits must meet, and details of how they would be purchased.
The move would in effect ease the emissions cuts — and the investments required — from European industries needed to hit the 90 percent emissions-cutting target. For the share of the target met by credits, the EU would buy “credits” from projects that reduce CO2 emissions abroad — for example, forest restoration in Brazil — rather than reducing emissions in Europe.
Proponents say these credits are a crucial way to raise funds for CO2-cutting projects in developing nations. But recent scandals have shown some credit-generating projects did not deliver the climate benefits they claimed.
The document said the Commission will add other flexibilities to the 90 percent target, as Brussels attempts to contain resistance from governments struggling to fund the green transition alongside priorities including defense, and industries who say ambitious environmental regulations hurt their competitiveness.
These include integrating credits from projects that remove CO2 from the atmosphere into the EU’s carbon market so that European industries can buy these credits to offset some of their own emissions, the document said.
The draft would also give countries more flexibility on which sectors in their economy do the heavy lifting to meet the 2040 goal, “to support the achievement of targets in a cost-effective way.”
A Commission spokesperson declined to comment on the upcoming proposal, which could still change before it is published next week.
EU countries and the European Parliament must negotiate the final target and could amend what the Commission proposes.


Magnitude 7.1 earthquake strikes near east coast of Russia’s Kamchatka region, GFZ says

Magnitude 7.1 earthquake strikes near east coast of Russia’s Kamchatka region, GFZ says
Updated 15 sec ago

Magnitude 7.1 earthquake strikes near east coast of Russia’s Kamchatka region, GFZ says

Magnitude 7.1 earthquake strikes near east coast of Russia’s Kamchatka region, GFZ says

An earthquake of magnitude 7.1 struck near the east coast of Russia’s Kamchatka region on Saturday, the German Research Center for Geosciences (GFZ) said.
The quake was at a depth 10 km (6.2 miles), GFZ said.
The United States Geological Survey (USGS) pegged the magnitude at 7.4, with a depth of 39.5 km (24.5 miles).
The Pacific Tsunami Warning System said there was a threat of a possible tsunami from the earthquake.
In Japan, to the southwest of the Kamchatka Peninsula, no tsunami warning has been issued, broadcaster NHK reported, citing the Japan Meteorological Agency.


Fed Governor Lisa Cook claimed 2nd residence as ‘vacation home,’ undercutting Trump fraud claims

Fed Governor Lisa Cook claimed 2nd residence as ‘vacation home,’ undercutting Trump fraud claims
Updated 13 September 2025

Fed Governor Lisa Cook claimed 2nd residence as ‘vacation home,’ undercutting Trump fraud claims

Fed Governor Lisa Cook claimed 2nd residence as ‘vacation home,’ undercutting Trump fraud claims

WASHINGTON: Federal Reserve Governor Lisa Cook referred to a condominium she purchased in June 2021 as a “vacation home” in a loan estimate, a characterization that could undermine claims by the Trump administration that she committed mortgage fraud.
President Donald Trump has sought to fire Cook “for cause,” relying on allegations that Cook claimed both the condo and another property as her primary residence simultaneously, as he looks to reshape the central bank to orchestrate a steep cut to interest rates. Documents obtained by The Associated Press also showed that on a second form submitted by Cook to gain a security clearance, she described the property as a “second home.”
Cook sued the Trump administration to block her firing, the first time a president has sought to remove a member of the seven-person board of governors. Cook secured an injunction Tuesday that allows her to remain as a Fed governor.
The administration has appealed the ruling and asked for an emergency ruling by Monday, just before the Fed is set to meet and decide whether to reduce its key interest rate. Most economists expect they will cut the rate by a quarter point.
Bill Pulte, a Trump appointee to the agency that regulates mortgage giants Fannie Mae and Freddie Mac, has accused Cook of signing separate documents in which she allegedly said that both the Atlanta property and a home in Ann Arbor, Michigan, also purchased in June 2021, were both “primary residences.” Pulte submitted a criminal referral to the Justice Department, which has opened an investigation.
Claiming a home as a “primary residence” can result in better down payment and mortgage terms than if one of the homes is classified as a vacation home.
The descriptions of Cook’s properties were first reported by Reuters.
Fulton County tax records show Cook has never claimed a homestead exemption on the condo, which allows someone who uses a property as their primary residence to reduce their property taxes, since buying it in 2021.
The White House did not immediately respond to a request for comment.


Moscow says Ukraine peace talks frozen as NATO bolsters defenses

Moscow says Ukraine peace talks frozen as NATO bolsters defenses
Updated 12 September 2025

Moscow says Ukraine peace talks frozen as NATO bolsters defenses

Moscow says Ukraine peace talks frozen as NATO bolsters defenses
  • “For now, it is probably more accurate to talk about a pause” in talks, Kremlin spokesman Dmitry Peskov told reporters
  • “Putin’s goal is to occupy all of Ukraine,” Zelensky said

KYIV: Russia said Friday that peace talks with Ukraine were on “pause” as President Volodymyr Zelensky warned that his Russian counterpart Vladimir Putin still wanted to capture the whole of Ukraine.
US President Donald Trump meanwhile warned that he was running out of patience with Putin, and the NATO alliance said it would bolster its eastern front after Russian drones were shot down in Polish airspace this week.
The latest blow to faltering diplomacy came as Russia’s army staged major military drills with its key ally Belarus.
Despite Trump forcing the warring sides to hold direct talks and hosting Putin in Alaska, there has been no significant progress toward ending the war launched by Russia’s February 2022 invasion.
Moscow’s army has gained territory and Putin has vowed to carry on fighting if his peace demands — including Ukraine ceding yet more land — are not met.
“Our negotiators have the opportunity to communicate through channels. But for now, it is probably more accurate to talk about a pause” in talks, Kremlin spokesman Dmitry Peskov told reporters.
“You can’t wear rose-tinted glasses and expect that the negotiation process will yield immediate results,” he added.
Speaking at a conference in Kyiv, Zelensky said the West should not trust Putin.
“Putin’s goal is to occupy all of Ukraine. And no matter what he tells anyone, it is clear that he has set the war machine in motion to such an extent that he simply cannot stop it unless he is forced to fundamentally change his personal goals,” Zelensky said.

- Trump’s patience ‘running out’ -

The Ukrainian leader also called on allies to encourage China to use its leverage with Russia to stop Moscow’s offensive.
Trump has repeatedly threatened Russia with additional sanctions if it does not halt the assault, but has failed to follow through, frustrating Ukraine.
“It’s sort of running out and running out fast, but it does take two to tango,” Trump told Fox television when asked if his patience was being taxed by Russia’s refusal to end the conflict.
“It’s amazing. When Putin wants to do it, Zelensky didn’t. When Zelensky wanted to do it, Putin didn’t. Now Zelensky wants to and Putin is a question mark. We’re going to have to come down very, very strong,” he added.
Ukraine has ruled out making territorial concessions in exchange for a deal, and is calling for a Putin-Zelensky summit to break the deadlock.
Putin has effectively ruled that out, and has threatened to target any Western soldiers that might be sent to Ukraine as peacekeepers without his approval.
Russia’s invasion has killed tens of thousands of people in Ukraine, forced millions from their homes and devastated much of the country’s east and south.


Boat capsizes in Congo, killing at least 86, most of them students

Boat capsizes in Congo, killing at least 86, most of them students
Updated 12 September 2025

Boat capsizes in Congo, killing at least 86, most of them students

Boat capsizes in Congo, killing at least 86, most of them students
  • Images that appear to be from the scene showed villagers gathered around bodies as they mourned
  • A local civil society group blamed the accident on the government and claimed the toll was higher

KINSHASA: A motorized boat capsized in northwestern Congo’s Equateur Province, killing at least 86 people, state media reported Friday.
The state news agency reported that the accident occurred on Wednesday in Basankusu territory, and that most of the victims were students.
It was not immediately clear what caused the accident although state media attributed it to “improper loading and night navigation,” citing reports from the scene.
Images that appear to be from the scene showed villagers gathered around bodies as they mourned.
A local civil society group blamed the accident on the government and claimed the toll was higher. Authorities could not be immediately reached for comment.
The capsizing of boats is becoming increasingly frequent in this central African nation as more people are abandoning the few available roads for cheaper, wooden vessels crumbling under the weight of passengers and their goods.
In such trips, life jackets are rare and the vessels are usually overloaded.
Many of the boats also travel at night, complicating rescue efforts during accidents and leaving many bodies often unaccounted for.


Secret report raises questions over UK justification for banning Palestine Action as more protests planned at Labour conference

Secret report raises questions over UK justification for banning Palestine Action as more protests planned at Labour conference
Updated 12 September 2025

Secret report raises questions over UK justification for banning Palestine Action as more protests planned at Labour conference

Secret report raises questions over UK justification for banning Palestine Action as more protests planned at Labour conference
  • The Labour government outlawed the group in July under the Terrorism Act
  • Report concluded “majority of the group’s activity would not constitute an act of terrorism”

LONDON: The British government’s decision to ban the pro-Palestinian activist group Palestine Action under terrorism laws is facing scrutiny after a secret intelligence assessment found most of the group’s activity “would not be classified as terrorism,” .

The Labour government outlawed the group in July under the Terrorism Act, putting it on the same footing as around 80 other organizations, including Al-Qaeda and Daesh.

The move criminalized membership, support and financing of the group, and hundreds of protesters have since been arrested for showing solidarity.

Minister of State for Security Dan Jarvis defended the designation, citing “clear advice and intelligence” after what he called an “escalating campaign involving intimidation and sustained criminal damage.”

Palestine Action, founded in 2020, has carried out break-ins and vandalism at facilities linked to Israel’s weapons manufacturer Elbit Systems, and in June activists damaged aircraft during a raid on Britain’s largest air base.

But a declassified March 7 report seen by the NYT, from the Joint Terrorism Analysis Centre which is part of MI5, painted a more cautious picture.

It noted that activists had caused serious damage, including one case where a protester attacked police officers with a sledgehammer. It also found the group’s underground manual encouraged sabotage.

However, it concluded “a majority of the group’s activity would not constitute an act of terrorism,” with common tactics being graffiti, sit-ins, and minor vandalism. The assessment also said it doubted the group would encourage attacks on people, something typical of other proscribed groups.

The report identified three incidents that could meet the terrorism threshold, all involving property damage at Elbit-linked sites.

One, a high-profile break-in at a Glasgow factory, was later prosecuted only as a “breach of the peace.” Scottish police records cited by The Times newspaper said the activity “has not been close to meeting the statutory definition of terrorism.”

Former officials and legal experts say the case highlighted how broadly terrorism laws were now being applied.

Alan Greene of Birmingham Law School told the NYT the Palestine Action ban “marks a radical departure from what came before” by relying on property destruction rather than threats to life.

UN human rights chief Volker Turk urged Britain to reverse the measure, warning it expanded terrorism “beyond clear boundaries.”

Home secretary Yvette Cooper, who advanced the ban, told Parliament the Glasgow raid had caused more than £1 million ($1.35 million) in damage to submarine parts, though court evidence put the figure at about £190,000 with the remainder attributed to lost revenue.

British politicians were also forced to vote on Palestine Action’s designation alongside two violent white-supremacist groups, which critics said made opposing the measure politically unfeasible.

Palestine Action formally dissolved after the ban, but supporters continue to campaign against its proscription, which the group is challenging in London’s High Court, with a hearing set for September 25.

The report’s findings were released as campaigners opposing the government’s decision to ban the group said they were preparing a week of demonstrations, beginning at the Labour Party conference in Liverpool later this month and ending with a mass rally in London’s Parliament Square on Oct. 4.

The protest wave was announced on Friday by Defend Our Juries, a group that has led opposition to the proscription, .

It comes a week after 857 people were arrested under the Terrorism Act outside Parliament, where demonstrators displayed signs reading “I oppose genocide. I support Palestine Action.”

Organizers described the next phase as a “major escalation” that would pose an “unprecedented challenge” for police, claiming more than 1,100 people have already pledged to risk arrest.

“The blame lies squarely with the government for pursuing this authoritarian ban, plunging an overstretched police force, courts and prisons into further chaos,” a spokesperson said. They urged Cooper to heed MPs, peers, UN experts and party members calling for the measure to be lifted.

Prime Minister Keir Starmer was accused of “grotesque double standards” for meeting Israeli president Isaac Herzog this week while activists faced arrest for displaying cardboard placards. Organizers vowed to target Labour’s conference, beginning Sept. 28, in defiance.

Defend Our Juries has also encouraged nationwide acts of solidarity, asking supporters to place signs in their windows. The move followed a viral video of former Labour councillor Keith Hackett being told by police he could legally display a Palestine Action poster at home but not in public.

Since the ban came into force, more than 1,600 people have been arrested, including religious officials, doctors, veterans and elderly activists. The figure already exceeds arrests made in the UK during the entire post-2001 “War on Terror.” Most detainees have not been charged, though seven alleged organizers appeared in court last week.

The Trades Union Congress this week unanimously passed a motion demanding the ban’s repeal, calling it a “significant abuse of counterterrorist powers and a direct attack on our right to protest against the genocidal Israeli regime.”