News Update - 05.11.24

News Update – 05.11.24

• Ireland is unlikely to meet its climate obligations, even under the “most optimistic scenario”. That’s according to a new report by the Sustainable Energy Authority of Ireland (SEAI) on the national energy projections for 2024. The report provides an assessment of how Ireland is likely to perform against the national Climate Action Plan and EU climate and energy targets. Ireland unlikely to hit 2030 climate targets even in ‘most optimistic scenario’, according to new report
• The Finance Bill will be debated and passed by the Dáil later today before completing all stages in the Seanad tomorrow. It is the major remaining piece of legislation that must be passed before the Taoiseach seeks the dissolution of the Dáil later this week. Dáil set to pass Finance Bill, paving way for election
• Renewable energy company Nephin Renewable Gas (NRG) has announced the signing of a memorandum of understanding (MoU) with Gas Networks Ireland. The move aims to accelerate the development and integration of biomethane production into Ireland’s gas network, contributing to the decarbonisation of the gas network and advancing the country’s climate action targets. Nephin Renewable Gas begins working with Gas Networks Ireland
• Fears of a widening tariff war between China and other major exporting nations are keeping diplomacy between the world's second-largest economy and the European Union alive, even as trade talks over electric vehicles stall. China's messy EV dispute with Europe keeps trade tensions in check | Reuters
• The European Union’s anti-fraud office, OLAF, has opened an investigation into a loophole allowing countries like Turkey to export sanctioned Russian oil to the bloc under a different label, according to two people familiar with the matter. EU fraud busters probe scheme to relabel banned Russian oil – POLITICO
• The Canadian government released draft regulations on Monday that would?cap emissions of greenhouse gases?from the oil and gas sector at 35% below 2019 levels by 2030, drawing condemnation from the industry that said it will force a production cut. Canada proposes sharp cut in oil and gas sector emissions by 2030 | Reuters