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Leader Live
27-05-2025
- Business
- Leader Live
Wrexham MP welcomes UK Government's trade deal with the EU
MP for Wrexham I welcome the UK Government's trade deal with the EU as announced last week. The EU is our biggest trading partner, and this deal helps to right the many wrongs of the previous government. When Labour was elected, we said that we would reduce barriers to trade and economic growth, and we meant it. The UK Government is respecting the decision made by the British people in 2016 and whilst there is no return to the EU, this deal make things easier for businesses as well as people in day-to-day life. Before I was elected as MP for Wrexham, and since, different businesses both large and small, locally and regionally, have told me time and time again how the Conservative Government's Brexit deal had made their daily experience as a business more challenging: more expensive, more difficult, more barriers, higher costs. This had led to some being forced to close due to the higher costs and increased bureaucracy. We have all seen the impact on our own pockets with food prices rising and hospitality businesses struggling as well as those who previously exported to the EU. The deal includes: · Making it easier for food and drink to be imported and exported by reducing the red tape. This agreement will have no time limit, giving vital certainty to businesses. · Some routine checks on animal and plant products will be removed completely. · Closer co-operation on emissions through linking our respective Emissions Trading System. · British steel exports are protected from new EU rules and restrictive tariffs, through a bespoke arrangement for the UK. · British holidaymakers will be able to use more eGates in Europe. · Introduction of 'pet passports' for UK cats and dogs. · The EU-UK security and defence partnership means that British firms will be treated as European, so can benefit from defence procurement. I welcome the agreement to explore access to Erasmus + as well as a Youth Mobility scheme; it is important that young people have access to opportunities that previous generations enjoyed and were denied to them for too long. Co-operation on defence is also part of the deal. The EU and the UK share the same challenging security environment, and both have vital interests in the peace, security and stability of Europe and beyond. As ever, if you have any queries or concerns or you have an issue that you would like me to try and assist you with, please do not hesitate to contact me on 01978 788854 or
Leader Live
27-05-2025
- Business
- Leader Live
Wrexham MP Andrew Ranger welcomes UK Government's trade deal with the EU
MP for Wrexham I welcome the UK Government's trade deal with the EU as announced last week. The EU is our biggest trading partner, and this deal helps to right the many wrongs of the previous government. When Labour was elected, we said that we would reduce barriers to trade and economic growth, and we meant it. The UK Government is respecting the decision made by the British people in 2016 and whilst there is no return to the EU, this deal make things easier for businesses as well as people in day-to-day life. Before I was elected as MP for Wrexham, and since, different businesses both large and small, locally and regionally, have told me time and time again how the Conservative Government's Brexit deal had made their daily experience as a business more challenging: more expensive, more difficult, more barriers, higher costs. This had led to some being forced to close due to the higher costs and increased bureaucracy. We have all seen the impact on our own pockets with food prices rising and hospitality businesses struggling as well as those who previously exported to the EU. The deal includes: · Making it easier for food and drink to be imported and exported by reducing the red tape. This agreement will have no time limit, giving vital certainty to businesses. · Some routine checks on animal and plant products will be removed completely. · Closer co-operation on emissions through linking our respective Emissions Trading System. · British steel exports are protected from new EU rules and restrictive tariffs, through a bespoke arrangement for the UK. · British holidaymakers will be able to use more eGates in Europe. · Introduction of 'pet passports' for UK cats and dogs. · The EU-UK security and defence partnership means that British firms will be treated as European, so can benefit from defence procurement. I welcome the agreement to explore access to Erasmus + as well as a Youth Mobility scheme; it is important that young people have access to opportunities that previous generations enjoyed and were denied to them for too long. Co-operation on defence is also part of the deal. The EU and the UK share the same challenging security environment, and both have vital interests in the peace, security and stability of Europe and beyond. As ever, if you have any queries or concerns or you have an issue that you would like me to try and assist you with, please do not hesitate to contact me on 01978 788854 or
Euronews
26-05-2025
- Business
- Euronews
Europe's carbon capture and storage strategy off to a rocky start
The European Union is betting on carbon capture and storage (CCS) to decarbonise heavy industrial emitters. The bloc has set ambitious capacity targets to that end: 50 million tonnes of CO2 annually by 2030, rising to 280 million tonnes in 2040. But this will require a huge scaling up. CCS involves capturing CO2 from industrial emitters or power factories, liquefying it, and transporting the CO2 via pipeline, trucks or ships before storing it underground in depleted oil or gas reservoirs or saline aquifers. Today, there are only five operational CCS projects in Europe, capturing a total of2.7 million tonnes of CO2 (MtCO2) each year. Of this,1.7 MtCO2 (63 per cent of the total) is for natural gas processing in Norway, which is outside of the EU. So the strategy requires building a complex infrastructure network from scratch at significant cost. The European Commission has said Europe might need 19,000 km of CO2 pipelines by 2050 to meet this target. These plans could cost taxpayers up to €140 billion by 2050, according to the Institute for Energy Economics and Financial Analysis. But a joint investigation by several European newsrooms shows that recurring problems with high costs and technical issues are already threatening the success of three major CO2 transport and storage projects receiving EU support. This questions the feasibility of the current EU climate strategy which heavily relies on carbon capture and storage, a technology favoured by oil and gas companies but which has largely historically failed to meet targets. As of 2023, governments and corporations had spent over $83 billion (€73bn) on CCS projects globally, according to Bloomberg. But that same year, the technology only captured around 0.1 per cent of global emissions. For Europe to reach its targets, capacity will need to expand dramatically. In its most recent round, 40 per cent of Emissions Trading System (ETS) revenues to the Innovation Fund were awarded to carbon capture storage and utilisation projects. The ETS is a major funding program for low-carbon technology financed by the bloc's cap-and-trade system for greenhouse gas emissions. This 'one-track' focus could mean other decarbonisation tools - such as expanding clean energy and improving energy efficiency - are potentially being sidelined, according to a report by the World Wide Fund for Nature (WWF). One example is cement, where Innovation Fund grants in all but one case support CCS to reduce emissions, rather than investigating means to reduce CO2 in the industrial process directly. As part of a joint investigation by IRPI, Follow the Money, L'Humanite and Mondiaal Nieuws, we looked at three projects supported by the EU. The projects analysed - Northern Lights in Norway, Pycasso in France, and Callisto in France and Italy - were only three of 14 projects selected by the European Commission as Projects of Common Interests (PCIs), but they point to issues facing efforts to scale CCS across the continent. Northern Lights in Norway, which expects to start operating this year, is run by three fossil fuel companies: Total Energies from France, UK-headquartered Shell, and Equinor, which is majority owned by the Norwegian state. It plans to store 1.5 million tonnes of emissions within a few years, starting with emissions from fertiliser producer Yara, Danish energy company Orsted and cement company Heidelberg Materials. But an investigation published in Follow the Money shows the project will face prohibitive costs and shipping capacity issues. Northern Lights will rely on two specially designed ships which will collect and transport liquefied CO2 captured by polluters in Denmark, the Netherlands and Norway. It will then be shipped to the port in Øygarden – located west of the city of Bergen – and pumped via a 100-kilometre pipeline into geological reservoirs under the seabed in the North Sea, where it is intended to be stored permanently. Transporting and storing one tonne of CO2 under phase one of the Northern Lights project would have an average cost of $145 (€128), according to data analytics company Wood Mackenzie. In addition to these expenses, there is the cost of capturing CO2 on-site, which differs by industry. Estimates from the International Energy Agency (IEA) suggest average costs per tonne of $30 (€27) for ammonia, a compound primarily used in fertiliser production. Under these estimates, Yara might have to pay between $140 to $202 million (€123 to €178 million) every year to reach its targets to reduce only a proportion of emissions from one site. That's a significant amount for a company that posted $229 million earnings before interest, taxes, depreciation, and amortization in Europe last year. Northern Lights faces other challenges. The project will rely on ships to transport CO2, but specialised boats are required to transport CO2, and with only two such ships built and available, the project will likely struggle to meet its own targets. Each ship can only carry 8,000 tonnes of CO2 per trip. Under existing contracts, Northern Lights will receive 1.63 million tonnes each year to store. Northern Lights has now commissioned two further liquefied CO2 ships which are due to be completed in 2026, though it is not clear when they will start transporting emissions. Even with all four ships in service, more will be needed soon as the project expands, the investigation found. Any delays from bad weather or technical difficulties with ships will further jeopardise the project's ability to meet targets. Transporting CO2 either by ship or pipeline raises further issues. Unlike natural gas, CO2 becomes corrosive when mixed with water. The ship's storage tanks need to be cleaned with dry CO2 gases to avoid any contamination with humid air, every time after unloading. Another project, Callisto, which aims to transport CO2 from industrial emitters in France to a storage site off Italy's Adriatic coast, faces similar issues. Callisto, a joint venture by Italian energy multinational Eni, infrastructure company Snam and Air Liquide, a French company providing oil and gas services, aims to create the largest multimodal carbon capture and storage network in the Mediterranean. The project seeks to create a complete supply chain for the capture, transport and storage of carbon in southwestern Europe. But while Callisto plans to transport CO2 from industrial clients in Italy via pipeline, emissions from French companies will be transported via ship from southeastern France circumventing the Italian peninsula to the Adriatic, Irpi media reported. The construction and maintenance of dedicated infrastructures, such as pipelines and ships, along with transport and capture costs, represent a significant investment. The current price paid by polluters under the Emissions Trading System (ETS) is around €80 per tonne, too low to justify a business case for companies to pay for CCS. "Even with equal unit capture costs, transport from very distant sources would have prohibitive costs, difficult to reconcile with the current values of ETS certificates," Roberto Bencini, an expert on CCS for the European Commission, told IRPI media. ETS prices are not just low but also volatile, meaning transport costs could quickly make storage costs prohibitive, putting the profitability of projects at risk. 'The problem is more so that the price is volatile. So no one's going to make an investment for 15 years unless they have some form of a guarantee of what the price is going to be,' says Eadbhard Pernot, Secretary-General of Zero Emissions Platform (ZEP) initiative, which includes many oil and gas companies involved in European CCS projects. Those projects which have gone ahead rely on carbon contracts for difference - agreements where a government contracts with a company to guarantee a specific carbon price over a set period for a low-carbon project - says Pernot. Finally, France's Pycasso project shows a different, but equally pressing issue for CCS infrastructure. By storing CO2 closer to industrial emitters, Pycasso pursued a strategy that could have lowered costs. But the project was abandoned last year because of local opposition: as one MP told L'Humanite, Pycasso would have threatened the 1,700 jobs at the existing gas field in Lacq, while creating only around 80 new jobs. For CCS advocates, the economic challenges facing CCS are a sign it should receive more public money. 'We are trying to get a new technology up and running on a commercial scale. And there are risks here which the private sector will probably not take, unless governments agree to provide some sort of de-risking support,' says Chris Davies, head of CCS Europe. But critics argue Europe risks betting on CCS as a miracle solution at the expense of harder choices about resource use and changing patterns in industrialisation. 'It's an example of how we are relying above all on technology to reduce emissions. That can't be the only solution. It can be part of the packet, but it should not have the emphasis it is receiving right now,' Maury says. With issues around economic viability and feasibility issues, some fear the focus on CCS could distract from meaningful climate action. 'The biggest risk with CCS is we waste a decade and however many billions of euros not doing climate action that we know would work,' Rachel Kennerley of the Center for International Environmental Law told Euronews Green. Additional reporting from Carlotta Indiano, Beatrice Cambarau, Bart Grugeon Plana, David Haas, Jule Zentek, Simon Guichard. This article was supported by Journalismfund Europe. From a rhino at the end of a rainbow to the molten front line of a wildfire, the shortlist for Earth Photo 2025 is full of riveting environmental stories that demand to be told. The international photography and film competition, created by the UK's Royal Geographical Society, Forestry England and visual art consultancy Parker Harris in 2018, received over 1,500 submissions from 250 'lens artists' in its seventh year. 40 photographers and filmmakers were selected by a jury of experts, who now have the unenviable task of choosing a winner from the 203-strong collection of 'urgent, poetic and often unexpected stories'. 'These stories not only highlight the pressing issues of climate change, such as disappearing habitats, polluted rivers, and climate-induced displacement, but also celebrate human ingenuity, resilience, and the deep connections between people and their environments,' according to a statement from the competition. Here are seven of our favourites, before a winner is selected and The Earth Photo 2025 exhibition launches at the Royal Geographical Society from 17 June - 20 August. Donning a panda suit at Wolong's Hetaoping centre in Sichuan Province is just one of many things that Ami Vitale has done to embody her belief in 'living the story'. The National Geographic photographer, writer and filmmaker has travelled to more than 100 countries, capturing the stories of individuals living on the frontlines of climate change and war, 'who refuse to let cataclysm define their futures'. At the Chinese panda centre, cubs are raised with minimal human contact, including rare hands-on checkups, in hopes of fostering skills for life in the wild. In 'A Hopeful Sign', above, Vitale snapped a black rhino named Bruno, peacefully resting beneath a rainbow at Ol Pejeta Conservancy in Kenya. For over a decade, Spanish-born artist Berta De La Rosa has dedicated herself to a project called 'Getsemaní', which advocates for the protection of Mediterranean traditions through a focus on the olive tree. 'My mission with this lifelong project, rooted in environmental sustainability, is to give a voice through the figure of the olive tree - as a universal tree, a tree of hope - to all our trees,' she says. 'And by doing so, I hope to safeguard our landscapes and reinstate the dignity of agricultural labour.' Chiara Fabbro is an Italian documentary photographer based in London, focusing on migration, displacement, and human connection. In this series, she turns her lens on what may be the final generation of shepherds living in the remote highlands of the Accursed Mountains, a dramatic range spanning Albania, Kosovo, and Montenegro. Their traditional way of life is threatened by climate-driven drought - forcing flocks to travel further - and a younger generation turning away from remote mountain life. A cross-country ski trail winds through a completely snow-free forest. Today, 90 per cent of Italy's ski slopes rely on artificial snowmaking systems, consuming an estimated 96,840,000 cubic metres of water annually - the equivalent of a city of one million people. That's one aspect of the way global heating is manifesting in Italy, a subject Italian documentary photographer Filippo Ferraro explores through his 'Heataly' project. A Ticuna man is dwarfed by a 500-year-old Ceiba tree in the Peruvian Amazon rainforest in this photo by Colombian photographer and engineer Mateo Borrero. On the face of it, the image seems simply to illustrate the smallness of man beside a natural giant. But a horizontal shadow, at eye-level with the man, tells a deeper story. The tree bears a water line that marks the typical height of the river during the rainy season, which usually peaks between April and May. Taken in May 2024, the photo shows the extent of last year's drought due to climate change. Iceland, once 40 per cent forested, today has only about 1.5 per cent forest cover. Restoration efforts are vital to the country's goal of achieving carbon neutrality by 2040, but face multiple challenges - including from the growing demands of tourism. Tourism in Iceland has skyrocketed in the past decade, observes photographer and director Jussi Hellsten, but emissions from travel are not counted in national inventories under the Kyoto Protocol, complicating the country's climate efforts. 'Since 2021, I have documented the intersection of tourism and reforestation in Iceland using digital infrared photography, a tool commonly employed to assess forest health,' he explains. 'The technique reveals hidden aspects of the landscape,' he says. And, as in this photo, also highlights the essential role of volunteers. Millions of tree seedlings are grown annually at nurseries like Kvistari, pictured here. In January 2025, Bali's beaches were inundated with waves of plastic pollution. Each year, the rainy season flushes Indonesia's polluted rivers, depositing millions of tonnes of plastic waste into the oceans, which then washes up along the country's coastlines. Although these plastic waves are an annual occurrence, 2025 has been called "the worst year yet" by locals. Beijing-based British photographer and filmmaker Sean Gallagher travelled to Indonesia to document this unfolding plastic crisis. His series portrays local Indonesians engaged in community efforts to clean the country's polluted beaches, rivers, and mangroves.
Telegraph
19-05-2025
- Business
- Telegraph
Ryanair warns of higher prices as net zero costs top €1bn
Ryanair has warned that travellers face paying more for flights this summer as the budget airline battles soaring net zero costs. Michael O'Leary, the Ryanair boss, said Europe's largest airline faced an 'environmental cost bill' that would be about €150m (£126m) higher than in 2024, surpassing €1bn for the first time. Airlines were given allowances under the EU's Emissions Trading System for the amount of fuel they could burn without incurring green penalties. These free allowances have been reduced by 50pc this year, before carriers will start having to pay in full from Jan 1. At the same time, the introduction of compulsory requirements for the uptake of sustainable aviation fuel (SAF) at the start of this year is also adding to costs. Britain and the EU both require airlines to use at least 2pc SAF in 2025, rising to 10pc and 6pc, respectively, by 2030. While the measures are aimed at incentivising the aviation industry to step up efforts to slash carbon emissions, Mr O'Leary warned they would inevitably 'get passed on in the form of higher fares'. After factoring in a €100m hike in air traffic control fees and rising demand amid a lack of new planes from Boeing and Airbus, prices were likely to increase by around 6pc, he said. Mr O'Leary added that constrained traffic growth nevertheless presented Ryanair with a 'big opportunity' to make up for a 7pc fare slump last year that triggered a collapse in earnings. He said: 'We're certainly going to see a price increase this year. The only question is will we get back last year's decline. We think that we will get back most of it but not all of it.' Mr O'Leary said that a 16pc drop in net profit in the year to March was partly 'self-inflicted' and a result of Ryanair's battle to stop online travel agents (OTAs) selling its seats at a higher rate, which led them to stage a boycott of its flights. He said: 'I underestimated the impact. My view was that price-sensitive people were booking holidays and if they couldn't get them through the OTA they would come directly to Ryanair. 'In actual fact, what happened was they went to the other tour operators. Jet2, Tui seemed to have a bit of a beano last summer, whereas we had to price down aggressively.' The chief executive said the situation was correcting itself this year, with 'very strong forward bookings' after Ryanair reached a series of agreements with the online agents. Mr O'Leary said the drop in the oil price should also boost margins this year and that it could go lower still in the next 18 months as Donald Trump seeks to stimulate the US economy. He said: 'Trump and his administration have realised that they screwed up on tariffs and that will lead to price inflation in America. 'The only way to counteract that in the run up to the midterms next year would be to materially drag down oil prices. So I think you'll see a production increase by Opec+ and the American shale guys.' He said driving down the price of oil to $40 or $50 a barrel would also be an effective way of putting pressure on Vladimir Putin to reach peace terms in Ukraine without rearming Kyiv. Mr O'Leary said he was hopeful that the threat of tariffs on airliners would recede once Washington turned its attention to a trade deal with the EU after accords with the UK and China. He added that Ryanair, an all-Boeing operator, was not expecting further 737 Max jets this summer after taking five from the US company in April. Boeing has offered to commence deliveries of a further 29 planes from September, but Mr O'Leary said they could be delayed until spring if the tariffs situation was not resolved. The Irishman dismissed a spat with a US congressman over his suggestion that Ryanair might buy Chinese planes if prices were low enough as 'a politician playing politics'. He said: 'It was just a stupid letter from some congressman whose iPhone was made in China. I wrote back saying we're a low-cost airline and we'll buy the cheapest jets we can. 'At the moment we're very happy that they are being manufactured in the US, but under no circumstances will we guarantee not to order Chinese aircraft if they cut prices by 50pc.'
Yahoo
19-05-2025
- Business
- Yahoo
Ryanair warns of higher prices as net zero costs top €1bn
Ryanair has warned that travellers face paying more for flights this summer as the budget airline battles soaring net zero costs. Michael O'Leary, the Ryanair boss, said Europe's largest airline faced an 'environmental cost bill' that would be about €150m (£126m) higher than in 2024, surpassing €1bn for the first time. Airlines were given allowances under the EU's Emissions Trading System for the amount of fuel they could burn without incurring green penalties. These free allowances have been reduced by 50pc this year, before carriers will start having to pay in full from Jan 1. At the same time, the introduction of compulsory requirements for the uptake of sustainable aviation fuel (SAF) at the start of this year is also adding to costs. Britain and the EU both require airlines to use at least 2pc SAF in 2025, rising to 10pc and 6pc, respectively, by 2030. While the measures are aimed at incentivising the aviation industry to step up efforts to slash carbon emissions, Mr O'Leary warned they would inevitably 'get passed on in the form of higher fares'. After factoring in a €100m hike in air traffic control fees and rising demand amid a lack of new planes from Boeing and Airbus, prices were likely to increase by around 6pc, he said. Mr O'Leary added that constrained traffic growth nevertheless presented Ryanair with a 'big opportunity' to make up for a 7pc fare slump last year that triggered a collapse in earnings. He said: 'We're certainly going to see a price increase this year. The only question is will we get back last year's decline. We think that we will get back most of it but not all of it.' Mr O'Leary said that a 16pc drop in net profit in the year to March was partly 'self-inflicted' and a result of Ryanair's battle to stop online travel agents (OTAs) selling its seats at a higher rate, which led them to stage a boycott of its flights. He said: 'I underestimated the impact. My view was that price-sensitive people were booking holidays and if they couldn't get them through the OTA they would come directly to Ryanair. 'In actual fact, what happened was they went to the other tour operators. Jet2, Tui seemed to have a bit of a beano last summer, whereas we had to price down aggressively.' The chief executive said the situation was correcting itself this year, with 'very strong forward bookings' after Ryanair reached a series of agreements with the online agents. Mr O'Leary said the drop in the oil price should also boost margins this year and that it could go lower still in the next 18 months as Donald Trump seeks to stimulate the US economy. He said: 'Trump and his administration have realised that they screwed up on tariffs and that will lead to price inflation in America. 'The only way to counteract that in the run up to the midterms next year would be to materially drag down oil prices. So I think you'll see a production increase by Opec+ and the American shale guys.' He said driving down the price of oil to $40 or $50 a barrel would also be an effective way of putting pressure on Vladimir Putin to reach peace terms in Ukraine without rearming Kyiv. Mr O'Leary said he was hopeful that the threat of tariffs on airliners would recede once Washington turned its attention to a trade deal with the EU after accords with the UK and China. He added that Ryanair, an all-Boeing operator, was not expecting further 737 Max jets this summer after taking five from the US company in April. Boeing has offered to commence deliveries of a further 29 planes from September, but Mr O'Leary said they could be delayed until spring if the tariffs situation was not resolved. The Irishman dismissed a spat with a US congressman over his suggestion that Ryanair might buy Chinese planes if prices were low enough as 'a politician playing politics'. He said: 'It was just a stupid letter from some congressman whose iPhone was made in China. I wrote back saying we're a low-cost airline and we'll buy the cheapest jets we can. 'At the moment we're very happy that they are being manufactured in the US, but under no circumstances will we guarantee not to order Chinese aircraft if they cut prices by 50pc.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
