China's central bank will issue a first batch of low-cost loans to financial institutions by the end of the month to enable carbon emissions cuts, Xinhua reported on Tuesday, citing PBOC chief Yi Gang.

The combined 2.05 trillion yen ($17.94 billion) in loans will be disbursed on Friday and mature in January 2023, the central bank said in a statement

The price jumped 5.4% from the previous day to close at 49.18 yuan ($7.71) per tonne on Monday, the highest since ending the day at 50.20 yuan on August 24

Traditional fossil fuels should be phased out only when renewable sources are reliable, Chinese policymakers have concluded

Campaigners say the bank provided $4.1 billion to companies planning new coal plants and $15 billion to the coal industry. They say coal developers should be blacklisted

The price increases are among the first signals that the new Omicron variant could cause supply-side pressures and commodity price rises

Since mid-November the average daily national coal supply has been 8.6 million tonnes, the NDRC announced

China will assess methane emissions in sectors such as coal mining, agriculture and petroleum, and publish an emissions control action plan, officials said on Thursday

State planner's remarks came as China kicked off its winter heating season in the north in early November, and a months-long power shortage eases in other parts of the country

India, backed by China and other coal-dependent developing nations, rejected a clause calling for a 'phase out' of coal-fired power, and the text was changed to 'phase down' at the UN climate talks

By Chris Iggo, Chief Investment Officer, Core Investments at AXA Investment Managers Climate change is the greatest threat facing the...

The two-week conference in Scotland resolved the rules around carbon markets, but did little to assuage vulnerable countries’ concerns