EU Carbon-Removal Rules Threaten the Region's Climate Targets
The European Union's progress toward its climate targets risks being impaired by its latest guidance on carbon-removal credits, according to German research nonprofit Oeko-Institut.
The bloc plans to use the units, generated by projects such as sequestering CO2 by planting trees, to help meet its 2050 net zero emissions goal under the Paris climate agreement.
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35 minutes ago
As UN climate talks loom, Brazil's Amazon forest loses in May an area larger than NYC
MANAUS, Brazil -- Brazil's environmental goals suffered a major setback in May as deforestation in the Amazon surged 92% compared to the same month last year, according to official monitoring data released Friday. Forest loss reached 960 square kilometers (371 square miles) during the period, an area slightly larger than New York City. It was the second-highest total for May since the current monitoring system was implemented in 2016. The increase risks reversing the year-over-year decline in forest clearance since 2023, when Brazil's President Luiz Inácio Lula da Silva began his third term. During his campaign, the leftist leader had pledged to end deforestation by 2030. Brazil's monitoring system tracks deforestation from Aug. 1 to July 30. Over the past 10 months, deforestation has risen 9.7% compared to the same period a year earlier. The 2025 deforestation rate, tracked by the National Institute for Space Research, is expected to be announced just before the U.N. climate talks, scheduled for November in the Amazonian city of Belém. Brazil is one of the world's top 10 emitters of greenhouse gases, contributing about 3% of global emissions, according to the nonprofit Climate Watch. Almost half of those emissions come from deforestation, making efforts to halt it critical to meeting Brazil's commitments under the 2015 Paris Agreement. The Amazon, an area almost twice the size of India, contains the world's largest rainforest, about two-thirds of it within Brazil. It stores vast amounts of carbon dioxide, holds about 20% of the world's freshwater and is home to hundreds of Indigenous tribes, some living in isolation, and 16,000 known tree species. ____
Wall Street Journal
an hour ago
- Wall Street Journal
U.S. Hiring Slowed in May Amid Tariff Uncertainty - Minute Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Zoe Kuhlkin: Here's your Midday Brief for Friday, June 6th. I'm Zoe Kuhlkin for The Wall Street Journal. The US added 139,000 jobs in May, the Labor Department reported today. The figure was above economists' expectations, but the slower growth serves as a sign employers remained cautious amid all of the tariff uncertainty. The employment rate, which is based on a separate survey from the jobs figures, remained at 4.2%. Federal government employment shrank by 22,000 jobs, the fourth consecutive month of such declines. Industrial production in the Eurozone's two largest economies has declined in the first month of President Trump's global tariff blitz. German and French industrial output both contracted 1.4% in April. A sign that an economic slowdown is underway after a start to the year that was even stronger than first estimated. Trade data published today showed goods exports to the US from Germany sank 10.5% as companies adapted to the new trade reality. And Switzerland has proposed some of the strictest capital rules in the world on banking giant UBS in an attempt to prevent another Credit Suisse style meltdown, protect taxpayers, and restore the country's reputation as a haven for rich people. The proposal would require UBS to hold around $26 billion in additional equity capital and reduce its reliance on hybrid bonds that can convert to equity. UBS has openly opposed this proposal and today's reforms are a blow to their arguments. The government said the main measures could take six to eight years to fully take effect. We'll have more coverage of the day's news on the WSJ's What's News Podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.
Los Angeles Times
an hour ago
- Los Angeles Times
As U.N. climate talks loom, in May Brazil's Amazon forest loses an area larger than NYC
MANAUS, Brazil — Brazil's environmental goals suffered a major setback in May as deforestation in the Amazon surged 92% compared to the same month last year, according to official monitoring data released Friday. Forest loss reached 371 square miles during the period, an area slightly larger than New York City. It was the second-highest total for May since the current monitoring system was implemented in 2016. The increase risks reversing the year-over-year decline in forest clearance since 2023, when Brazil's President Luiz Inácio Lula da Silva began his third term. During his campaign, the leftist leader had pledged to end deforestation by 2030. Brazil's monitoring system tracks deforestation from Aug. 1 to July 30. Over the past 10 months, deforestation has risen 9.7% compared to the same period a year earlier. The 2025 deforestation rate, tracked by the National Institute for Space Research, is expected to be announced just before the U.N. climate talks, scheduled for November in the Amazonian city of Belém. Brazil is one of the world's top 10 emitters of greenhouse gases, contributing about 3% of global emissions, according to the nonprofit Climate Watch. Almost half of those emissions come from deforestation, making efforts to halt it critical to meeting Brazil's commitments under the 2015 Paris Agreement. The Amazon, an area almost twice the size of India, contains the world's largest rainforest, about two-thirds of it within Brazil. It stores vast amounts of carbon dioxide, holds about 20% of the world's freshwater and is home to hundreds of Indigenous tribes, some living in isolation, and 16,000 known tree species. Maisonnave writes for the Associated Press.
