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GGGI boosts budget transparency: chief

SEOUL, April 18 (Yonhap) -- The Global Green Growth Institute (GGGI), a Seoul-initiated international green growth body, has improved its budget transparency and remains committed to achieving its goal, the body's new director-general said Friday. In late 2012, South Korea's state auditor said in a report that GGGI was found to have misused its budget and recommended the organization make efforts to boost transparency in its spending. The 21-member entity was launched that year to promote sustainable economic growth.

Brazil looks to swap World Cup publicity for carbon credits

By Marcelo Teixeira SAO PAULO (Reuters) - Brazil, looking to offset the carbon emissions generated by construction, travel and other activities related to hosting the 2014 Soccer World Cup, said on Tuesday it wants holders of United Nations-backed carbon credits to swap them for publicity during the games. The World Cup begins June 12 and Brazil's Environment Ministry said it has launched a program to convince owners of credits to exchange them for publicity in official documents of the event.

U.S. greenhouse gas emissions fall 10 pct since 2005: EPA

WASHINGTON (Reuters) - U.S. greenhouse gas emissions fell nearly 10 percent from 2005 to 2012, more than halfway toward the United States' 2020 target pledged at United Nations climate talks, according to the latest national emissions inventory. The report showed that emissions dropped 3.4 percent from 2012 to 2011, mostly due to a decrease in energy consumption and fuel switching from coal to natural gas.

Enforcement seen key to success of China's new environmental markets

By Stian Reklev BEIJING (Reuters) - China's plan for a market in air pollution permits promises to help clean up its air cheaply, but the move could prove just as useless as previous environmental policies unless the government stamps out lax enforcement and spotty data. Smog regularly blankets the country's major urban centers and kills half a million people each year.

EU warns of double-counting risk in U.N. emissions cut plan

LONDON/BONN (Reuters) - The United Nations risks creating huge auditing problems and overstating environmental benefits by promoting the cancellation of carbon credits as a way of tackling climate change, the European Union said on Thursday.

EU's domestic-only climate proposal reflects global stalemate

By Ben Garside BONN (Reuters) - The European Union had little choice in proposing not to outsource more of its emission cuts abroad to meet a 2030 target because the slow pace of global talks to develop new carbon markets gave it nothing to buy, a senior EU official said. The European Commission in January proposed cutting the bloc's greenhouse gas output by 40 percent under 1990 levels entirely from reductions made within the 28-nation EU unless a global climate change agreement requires it to deepen the goal.

B.C. expands carbon-neutral fund to include colleges, universities, hospitals

VICTORIA - Hospitals and post-secondary institutions in British Columbia can now access up to $9.5 million in government funding for projects that cut energy costs and carbon emissions. Environment Minister Mary Polak said Tuesday that universities, colleges and hospitals can join public schools in the government's Carbon Neutral Capital Program, which is expanding to $14.5 million from $5 million. She said the money can be used to plan and complete energy-saving and pollution-fighting projects.

EU plan to cut supply of carbon permits passes into law

By Ben Garside LONDON (Reuters) - A plan to prop up EU carbon prices was published in the official journal of the European Union on Wednesday, enacting into law the so-called backloading measure that keeps on track the European Commission's aim to allow the withdrawal of a maximum 400 million permits this year. The plan involves cutting the supply of permits to be sold under the EU Emissions Trading Scheme (ETS) in an effort to incentivize more investment in low carbon technologies.

Rolls-Royce warns of flat revenue and profits

Aircraft engine maker Rolls-Royce warned on Thursday that it would experience a "pause" in profits and revenue growth this year, sending its share price plunging. The group said in a results statement that its performance was expected to be hit by the combined impact of military budget cuts and the completion of some major export programmes. "In 2014, we expect a pause in our revenue and profit growth, reflecting offsetting trends across the business," said chief executive John Rishton, as the company also posted tumbling 2013 net profits.

Billions needed to fund deforestation prevention plan: report

SAO PAULO (Reuters) - Donor nations, rainforest-rich countries and multilateral institutions will have to spend tens of billions of dollars in the next few years to ensure that nations undergoing deforestation will have incentives to halt the practice, a report released on Monday said. Without the money to buy forest-based emissions reductions, the mechanism known as REDD+ (Reducing Emissions from Deforestation and Degradation) will be largely undermined, restricting incentives to keep trees standing, it said.
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