Carbon finance

A historic agreement attempting to limit the rise in global temperatures to less than 2C has been reached at the climate change summit in Paris.

After two weeks of negotiations ministers and bureaucrats from all over the world decided to cut carbon emissions.

Agreements on the table signaling commitments by countries, regional governments and companies are promising for the prospect of tackling carbon emissions and energy transition, but a binding agreement is not likely to emerge from the COP21 Climate Summit in Paris, according to Samantha Smith, the head of the WWF Climate and Energy Initiative.

The richest tenth of the world's people produce half of all carbon emissions, while the poorest half - most threatened by droughts and super storms linked to climate change - produce only one tenth, Oxfam said on Dec. 2. 

While Turkey might find it easier to find itself in a place in the new climate change regime, its main focus at the Paris summit will be to secure financial and technological assistance on emission mitigation, says Semra Cerit Mazlum, a prominent associate professor at Marmara University in IstanbulOne of Turkey's main focus in the Paris climate summit that will kick off on Nov.

Three basic changes to car excise duties for 2016 are being promoted by the government, according to a ministerial decree to be published on Monday at the latest.

French Foreign Minister Laurent Fabius expressed regret on Nov. 12 over reported remarks by U.S. Secretary of State John Kerry that the Paris climate summit will not deliver a binding treaty requiring countries to cut carbon emissions.

"I think that it's a formulation which could have been more fortunate," Fabius told journalists on the sidelines of the EU-Africa summit in Malta.

By Susanna Twidale & Barbara Lewis

Europe's poorest nations, including heavily indebted Greece, emerge the main winners from a deal to reform the world's biggest carbon market that will raise billions for EU governments, data from Thomson Reuters Point Carbon shows.

BELGRADE - The Ministry of Agriculture and Environmental Protection has made an estimate of possibilities for reducing emissions of greenhouse effect gases in the period up to 2030, Minister Snezana Bogosavljavic Boskovic said on Monday.

The Government of Romania should reconsider the timing and the size of planned tax cuts, Andrea Schaechter, IMF mission chief for Romania, told a conference call on the release of the 2015 Article IV Consultations with Romania.

Photo credit: (c) Cristian NISTOR / AGERPRES ARCHIVE

Bulgaria's Environment Minister Ivelina Vasileva announced on Wednesday that BGN 13 M will be added to the national budget in 2015 from payments received by the National Trust Eco Fund.