Environment

Riverbeds reduced to tiny streams, asphalt melting like butter, dried-up fields — these are currently the images of drought in Central and Southeastern Europe. The record-breaking lack of rainfall in recent months and this summer's heatwaves have caused severe damage to the region's economy and infrastructure.  In the agriculture sector, it has been clear for some time that harvests in Southeastern Europe, especially maize and sunflower crops, will be significantly below average. The heatwaves are also repeatedly disrupting road, rail and, above all, shipping transport. But, most importantly, the drought has triggered an unprecedented crisis in electricity generation in several Central and Southeastern European countries, forcing companies to halt production due to the historically low wa...

Riverbeds reduced to tiny streams, asphalt melting like butter, dried-up fields — these are currently the images of drought in Central and Southeastern Europe. The record-breaking lack of rainfall in recent months and this summer's heatwaves have caused severe damage to the region's economy and infrastructure.  In the agriculture sector, it has been clear for some time that harvests in Southeastern Europe, especially maize and sunflower crops, will be significantly below average. The heatwaves are also repeatedly disrupting road, rail and, above all, shipping transport. But, most importantly, the drought has triggered an unprecedented crisis in electricity generation in several Central and Southeastern European countries, forcing companies to halt production due to the historically low wa...

Europe's carbon market rarely makes headlines. But it has become one of the world's most influential climate policies. The bloc wants to become carbon-neutral by 2050, and its carbon market is the central tool to meet that goal. The European Commission is expected to present a proposal for the next revision of the European Emissions Trading System (ETS) shortly, and the question is whether that will make the system stronger or weaker. Industrial frontrunners, including parts of Europe's steel sector that have already invested in cleaner production, are hoping for a stronger system. But what exactly is emissions trading, and how well does it work? What is an emissions trading system? An emissions trading system (ETS) puts a price on pollution. Companies under the scheme must hold permi...