Carbon finance

The World Bank chose Bulgaria for its future outsourced Shared Services Center, where 275 people will be recruited for up to five years. The government press service announced today that the Council of Ministers has supported the intention, quoted by Econ.bg

Climate change increases the risk of an 'extinction domino effect' that could annihilate all life on Earth, researchers have warned, reports Daily Mail.    

The theory, known as 'co-extinctions', means an organism dies out because it depends on another doomed species.

 IFC, a member of the World Bank Group, has said it expanded operations in Europe and Central Asia with investment commitments that reached $2.9 billion, driving the diversification of the region's economies, promoting access to finance for small businesses and tackling climate change, with Turkey receiving the largest commitment with $1.1 billion in the region.

Professionals and low-to-medium-voltage industries are the first categories of electricity consumers to be hit with power rate hikes due to the increase in carbon emission rights prices.

The Council today adopted a regulation on greenhouse gas emission reductions. The regulation sets out binding emission reduction targets for member states in sectors falling outside the scope of the EU emissions trading system for the period 2021-2030.

Bulgaria ranks third in increase of harmful emission in the EU in 2017 according to data provided by Eurostat for the previous year, quoted by bTV. For the past year, the increase in Bulgaria was 8.3%, with Estonia (11.3%) and Malta (12.8%) was worse. After us, in growth of harmful emissions is Spain (7.4%) and Portugal (7.3%).

The World Bank has said its board of executive directors on April 12 approved a $91.54 million loan for the Sustainable Cities II Project in Turkey.

Emissions regulated under Europe's carbon market rose for the first time in seven years in 2017 due to stronger industrial output, data published yesterday by the European Commission and examined by carbon analysts at Thomson Reuters showed.

Lilyana Pavlova, Minister for the Bulgarian Presidency of the Council of the EU, and Antonio Tajani, President of the European Parliament, today signed four key pieces of EU legislation to make possible its timely entry into force.

World carbon emissions are set to rise 2 percent this year to a new record, scientists said on Nov. 13, dashing hopes that global emissions had already peaked.