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The European Union's new competition chief, Teresa Ribera, is concerned about China's dominance in the clean-tech market and the impact of cheap materials and equipment on European rivals. Ribera aims to use the Foreign Subsidies Regulation to target potentially anticompetitive Chinese investments in the EU. She also advocates for joint debt issuance to support the EU's clean-tech transition and meet ambitious climate targets, emphasizing the need for additional public spending and investment. Ribera's focus is on protecting EU industries, particularly in the face of challenges from China and the US, while promoting green standards and preventing a collapse in Europe's auto industry. [Extracted from the article]

Poland, France, and Italy are considering blocking a long-awaited trade deal between the European Union and the Mercosur bloc in Latin America. French objections have been a major hurdle to the agreement, with concerns raised about the impact on farmers and compliance with EU standards. Polish farmers are expressing their disagreement with the deal and are prepared to protest if the government supports it. The potential agreement would increase imports of bovine and poultry meat from Mercosur countries, posing a threat to local producers. [Extracted from the article]

French farmers are protesting against the European Union's trade deal with Mercosur countries, fearing that it will lead to an influx of cheaper goods. The farmers are demanding more government support and guarantees that their Latin American competitors meet EU health and environmental standards. France is seeking to form a "veto minority" with other EU states to block the deal, citing concerns about the impact on local producers. The protests coincide with the Group of 20 meetings in Brazil, where the trade agreement is expected to be finalized. [Extracted from the article]

President-elect Donald Trump has chosen former New York congressman Lee Zeldin to lead the Environmental Protection Agency, with a focus on boosting energy production and reducing regulations. Zeldin aims to balance deregulation with maintaining high environmental standards, including clean air and water. His responsibilities may include ending the pause on new natural gas export terminals, redrawing national monument boundaries, and potentially relocating the EPA headquarters outside of Washington. Zeldin's appointment follows his support for Trump during the impeachment proceedings. [Extracted from the article]

President-elect Donald Trump has chosen former New York congressman Lee Zeldin to head the Environmental Protection Agency, with a focus on deregulation to boost energy production while maintaining high environmental standards. Zeldin aims to restore US energy dominance, revitalize the auto industry, and position the US as a global leader in AI. His responsibilities may include ending the pause on new natural gas export terminals, redrawing national monument boundaries for mining, and withdrawing from the Paris climate agreement. Additionally, there is discussion about relocating the EPA headquarters outside of Washington. [Extracted from the article]

President Joe Biden will visit Angola in December to strengthen ties with the country and recognize its role as a strategic partner in Africa. The visit aims to increase collaboration on security, health, and economic partnerships, highlighting the importance of strong alliances in defense and shared prosperity. Biden's trip underscores his commitment to revitalizing relationships with US allies and countering Chinese and Russian influence in Africa, with a focus on investments like the Lobito corridor railway project. [Extracted from the article]

German Chancellor Olaf Scholz has called for the swift conclusion of talks on a major trade agreement between the European Union (EU) and four South American economies known as Mercosur. The agreement, which has been opposed by France, is said to be well advanced in technical negotiations and has political backing from the majority of EU members. Scholz emphasized the importance of pragmatism and flexibility in the final stages of negotiations, highlighting the potential economic benefits of the Mercosur agreement. The deal, if finalized, would create one of the world's largest free-trade markets and strengthen ties between the EU and South America. [Extracted from the article]

The World Bank has halted funding to Uganda after the country passed anti-gay legislation that threatens those engaging in same-sex relations with life imprisonment or death. The World Bank is now working with Uganda to restore funding by implementing measures that aim to ensure equal access to services for the LGBTQ community. However, over 100 civil society groups have expressed concerns that the proposed measures are flawed and may not effectively address discrimination. The decision to resume funding lies with the World Bank, and the outcome of this situation could set a precedent for other countries with similar laws. [Extracted from the article]

The World Bank is collaborating with Uganda to resolve a freeze on lending that was imposed after the country passed anti-gay legislation. The World Bank has halted new loans to Uganda since August 2023 due to concerns over the law, which imposes severe penalties for same-sex relations. To resume financing, the World Bank and the Ugandan government are implementing measures to ensure that the LGBTQ community can equally benefit from bank-funded projects. This situation is significant as Uganda is the only country to face such a backlash from the World Bank for passing anti-LGBTQ legislation, making it a test case for the lender's non-discrimination standards. However, some civil society groups have expressed concerns about the effectiveness and implementation of the mitigation measures. The decision to restore funding ultimately rests with the World Bank. [Extracted from the article]

Serbia's constitutional court has overturned a government decree that blocked Rio Tinto Group's $2.4 billion lithium project in the country. The court deemed the government's decision unconstitutional and an overreach of authority. The project, named Jadar, was halted in 2022 due to concerns about environmental pollution. President Aleksandar Vucic has expressed regret over the project's suspension and has suggested that preparations to open the mine may resume in 2028, contingent on Rio Tinto meeting strict environmental standards. [Extracted from the article]

Argentina's foreign minister, Diana Mondino, has criticized the European Union (EU) for not recognizing the potential benefits of a trade deal with Mercosur, the South American trade bloc. Negotiations between Mercosur and the EU have hit a wall, with opposition in France due to concerns about cheap imports and lower environmental standards. Mondino suggested that Mercosur may consider breaking the treaty into parts or shifting their focus to other regional trading groups. France's foreign minister, Stéphane Séjourné, reiterated France's opposition to the treaty and emphasized the need for political agreements between Mercosur and Europe. [Extracted from the article]

A recent series of cyberattacks on the US water system has exposed vulnerabilities and highlighted the need for improved cybersecurity measures. Iranian-backed hackers targeted digital controls used in the water and wastewater industries, while a ransomware attack affected a major water district. The water sector is particularly vulnerable due to weak controls, insufficient funding, and staffing shortages. The US government is working to establish minimum cybersecurity standards and increase the Environmental Protection Agency's authority in this area. However, progress has been slow, and the fragmented nature of the water system poses challenges for implementing effective defenses. [Extracted from the article]

China's booming electric vehicle (EV) market has led to a surge in used batteries that contain valuable metals like lithium, cobalt, and nickel. These metals are in high demand as countries compete for critical minerals in the green transition. However, China's battery recycling industry is still fragmented and lacks regulation, leading to a gray market of small players who don't adhere to environmental and safety standards. Major players like GEM Co. are investing in state-of-the-art recycling facilities, but stricter rules and enforcement are needed to create a healthier market. Improving recycling practices would not only lower costs for automakers but also enhance China's position in the EV market and improve its environmental credentials. [Extracted from the article]

Canada's Finance Minister, Chrystia Freeland, has stated that the government will carefully review the acquisition of Teck Resources Ltd.'s coal business by Glencore Plc to ensure job protection and environmental standards are upheld. The deal involves Glencore acquiring a 77% stake in Teck's coal business, with Nippon Steel Corp. and Posco holding the remaining stake. Freeland emphasized the importance of protecting Canadian jobs, headquarters, and the rights of Indigenous people, as well as addressing environmental concerns. The federal government will consult with the province of British Columbia, where Teck's coal operations are located, during the regulatory review process. The approval of 11 jurisdictions is required for the sale to be finalized, and Teck's BC coal mines have faced scrutiny for pollution issues. [Extracted from the article]

Canada's Finance Minister, Chrystia Freeland, has stated that the government will review the acquisition of Teck Resources Ltd.'s coal business by Glencore Plc to ensure job protection and environmental standards are upheld. The deal involves Glencore acquiring a 77% stake in Teck's coal business for $6.93 billion, with Nippon Steel Corp. and Posco holding the remaining stake. Freeland emphasized the importance of protecting Canadian jobs, headquarters, and the environment, as well as respecting the rights of indigenous people. The federal government will also consult with the provincial government of British Columbia during the regulatory review. [Extracted from the article]

Richards Bay is South Africa's main outbound-shipment port for coal, chrome and lumber. (Bloomberg) -- Richards Bay, South Africa's biggest commodity export facility, reopened fully after a terminal operator submitted plans for complying with environmental standards. [Extracted from the article]

(Bloomberg) -- Richards Bay, South Africa's biggest commodity export facility, has been partially closed because of non-compliance with environmental standards. Richards Bay is South Africa's main outbound-shipment port for coal, chrome and lumber. [Extracted from the article]

The Renewable Energy Directive, aimed at scaling up renewables such as wind and solar power, has been stalled after France and other countries said they wouldn't back the law. (Bloomberg) -- France is in talks with the European Union's presidency as it seeks assurances on the role nuclear can play in meeting clean-energy targets and producing hydrogen for industry. [Extracted from the article]

(Bloomberg) -- French Finance Minister Bruno Le Maire said Monday the European Union should consider applying electric-vehicle subsidies to cars built in the bloc, after the US limited its support to North American-made vehicles. It may be "time to reserve electric vehicle bonuses either for cars produced on European territory or for vehicles that strictly and rigorously meet new environmental standards", Le Maire told reporters during a briefing on the 2023 budget. [Extracted from the article]

(Bloomberg) -- Another scorching heat wave is set to hit northwest and central Europe this week, putting further pressure on the continent's strained power infrastructure. Sizzling temperatures are expected to hit the UK, Germany and France -- reaching almost 36 degrees Celsius (96.8 Fahrenheit) on Friday -- according to Maxar Technologies LLC. [Extracted from the article]

The Chooz nuclear plant, not given a waiver, also has to be halted when the flow of the Meuse river falls below a certain threshold. (Bloomberg) -- The French nuclear regulator granted a temporary waiver for five nuclear plants to discharge hot water into rivers that may breach environmental standards as the nation struggles with an energy crisis. [Extracted from the article]

Emissions Trading Lawmakers are set to seek faster greenhouse-gas reductions in the EU Emissions Trading System, the bloc's key tool for meeting a tougher 2030 climate goal and the Green Deal overarching target of climate neutrality by 2050. (Bloomberg) -- European Union lawmakers sparred Tuesday over how to design the bloc's ambitious climate policies, underscoring the challenge of implementing binding climate-neutrality goals amid a war and unprecedented energy price spikes. [Extracted from the article]

European Union governments have endorsed a proposal to impose a carbon imports levy on certain goods produced in countries with lower environmental standards. The levy, known as the carbon border adjustment mechanism (CBAM), aims to protect domestic producers during the EU's green overhaul. The CBAM would penalize the importation of goods that contain embedded emissions, such as iron and steel, cement, aluminum, fertilizers, and electricity. The levy will be based on the costs that domestic producers already face in the EU carbon market and will gradually replace the system of free pollution permits. The European Parliament will now enter negotiations with the EU Council to finalize the measure. [Extracted from the article]

European Union governments are likely to support a plan to impose an import levy on iron and steel, cement, and aluminum produced in countries with lower environmental standards. This move is part of the bloc's efforts to protect domestic producers during a green overhaul. The proposed carbon border adjustment mechanism (CBAM) would penalize goods that bring emissions into the EU and would gradually replace the system of free pollution permits. The measure is part of a broader package to align the EU economy with stricter emissions-reduction targets for 2030, but it has already caused diplomatic tensions with countries like Ukraine, China, and India. [Extracted from the article]

Rio Tinto controls half of the Simandou deposit, which spent years in limbo because of disputes over ownership rights and the large investments required to extract and transport the ore. (Bloomberg) -- Rio Tinto Group's chief executive officer said he met Guinea's president this week to discuss how the world's second-largest miner can be involved in developing a giant iron ore deposit in the country. [Extracted from the article]

"Plants that meet environmental standards and are able to produce power efficiently will see utilization rising, but I doubt we're going to have many new coal plants." (Bloomberg) -- India will ration coal supplies to power plants with high inventories to direct more shipments to stations battling shortages as surging demand outstrips production. [Extracted from the article]

(Bloomberg) -- A group backed by German car-making giants Daimler AG and Volkswagen AG has started a study into the environmental impact of lithium mining in Chile, the second-largest supplier of the key ingredient in rechargeable batteries. GIZ, the German development agency running the initiative, is looking into how pumping up lithium-laced brine from beneath the Atacama salt flat is impacting local water supplies and communities. [Extracted from the article]

(Bloomberg) -- A group backed by German car-making giants Daimler AG and Volkswagen AG has started a study into the environmental impact of lithium mining in Chile, the second-largest supplier of the key ingredient in rechargeable batteries. GIZ, the German development agency running the initiative, is looking into how pumping up lithium-laced brine from beneath the Atacama salt flat is impacting local water supplies and communities. [Extracted from the article]

(Bloomberg) -- The European Union is planning to slap an import levy on steel, cement and aluminum produced in countries with lower environmental standards, as it seeks to become a world leader on climate without harming domestic producers. Market Pricing The cost of emissions in the EU carbon market has soared 10-fold in the past four years as the bloc bolstered the program and vowed to step up climate action. Under the draft, importers in the affected sectors will be required to buy electronic emission certificates at prices corresponding to those in the EU ETS, the world's biggest cap-and-trade program for greenhouse gases. [Extracted from the article]

Keywords: ASIA; BUSINESS; CHINA; CLIMATE; CMD; EXE; GEN; GOV; MARKETS; NORTHAM; NRG; POL; US; WORLD EN ASIA BUSINESS CHINA CLIMATE CMD EXE GEN GOV MARKETS NORTHAM NRG POL US WORLD QSF2CJT0AFB5 (Bloomberg) -- China will make cutting emissions a focus of its ecological strategy in the next five years, President Xi Jinping said, vowing to call off projects which consume a lot of energy and can't meet environmental standards. "The carbon neutral and emission-peaking goals are solemn promises China has made to the world", Xi said at a study session of the Communist Party's Politburo on Friday. [Extracted from the article]

Supply disruptions at Russian mines run by MMC Norilsk Nickel PJSC, the world's No. 1 producer, have exacerbated the shortfall. (Bloomberg) -- Palladium climbed toward to a record high as rebounding automaker demand and supply disruptions look set to keep the market in a deep deficit. [Extracted from the article]

(Bloomberg) -- Palladium climbed toward to a record high as rebounding automaker demand and supply disruptions look set to keep the market in a deep deficit. Also, more generally, palladium had been rangebound for a while until mid-March and the "catalyst" of Russian supply disruption.". [Extracted from the article]

QRAM2DDWLU6K (Bloomberg) -- Norway's $1.3 trillion wealth fund may be forced to exclude a number of stocks as the government seeks to adjust the portfolio by imposing the same ethical and environmental standards across its investments. Keywords: 1037Z@NO; NORGPFG@NO; BUSINESS; CMD; COS; EUROPE; GOV; MARKETS; NRG; OIL; WORLD EN 1037Z@NO NORGPFG@NO BUSINESS CMD COS EUROPE GOV MARKETS NRG OIL WORLD Norway's $1.3 trillion wealth fund may be forced to exclude a number of stocks as the government seeks to adjust the portfolio by imposing the same ethical and environmental standards across its investments. [Extracted from the article]

(Bloomberg) -- The European Union's project to become the world's second-largest battery producer is set for a springtime boost, when companies in the sector get 900 million euros ($1.1 billion) to bolster research and innovation. The EU has already invested billions in its Battery Alliance project set up to compete with Asia, currently Europe's only provider of EV batteries. [Extracted from the article]

(Bloomberg) -- U.K. and European Union negotiators are inching toward a trade deal as talks in Brussels continue around the clock. Optimism has grown after the two sides agreed to continue discussions past their self-imposed Sunday deadline and the EU's chief negotiator Michel Barnier said he saw a "narrow path" to a deal this week if differences can be bridged. Key Developments: EU, U.K. negotiators continue talks in Brussels Bank of England officials hold their final scheduled policy decision London touts financial dominance amid Brexit discussions (All times are U.K.) EU Endorses Transport Contingencies in Case of No-Deal Brexit (9:54 a.m.) EU ambassadors endorsed proposals to prepare the transport sector if the bloc and the U.K. fail to strike a trade deal, according to an EU statement on Wednesday. [Extracted from the article]

(Bloomberg) -- U.K. and European Union negotiators are inching toward a trade deal as talks in Brussels continue around the clock. Optimism has grown after the two sides agreed to continue discussions past their self-imposed Sunday deadline and the EU's chief negotiator Michel Barnier said he saw a "narrow path" to a deal this week if differences can be bridged. [Extracted from the article]

(Bloomberg) -- Brexit negotiators got back to work in Brussels this week as they push to complete a trade accord before the U.K. leaves the European Union's single market on Dec. 31. The U.K. wants to make sure it has the freedom to set its own rules as a sovereign nation, even if they diverge from the EU, because that was the point of Brexit. [Extracted from the article]

(Bloomberg) -- Brexit negotiators got back to work in Brussels on Monday as they push to complete a trade accord before the U.K. leaves the European Union's single market on Dec. 31. People close to the British team had been talking about a deal as early as Tuesday to give the U.K. Parliament time to ratify the accord before it breaks up for the Christmas vacation. [Extracted from the article]

(Bloomberg) -- The U.K. should adopt a farming certification system to safeguard high food standards as it negotiates future trade deals, according to recommendations from a government-commissioned review. The U.K. is looking to make trade deals as it prepares to fully leave the European Union at the end of the year and agriculture has been a particular sticking point in talks with Washington. [Extracted from the article]

(Bloomberg) -- The U.K. should adopt a farming certification system to safeguard high food standards as it negotiates future trade deals, according to recommendations from a government-commissioned review. Such certification systems would not be required for trading with the EU, to which the U.K. is already closely aligned, or for deals with other countries that may carry over from the EU, he said. [Extracted from the article]

(Bloomberg) -- Glencore Plc will sell cobalt to Tesla Inc. for use in vehicles being produced at new car plants in China and Germany, according to a person with knowledge of the matter. Read more: Glencore Signs Long-Term Cobalt Supply Deal with Samsung SDI Tesla has begun "to engage directly with smelter and mines", including in the Democratic Republic of Congo -- the key cobalt supplying nation, and home to some Glencore operations -- on standards around ethical and responsible production, the automaker said in a 2019 Impact Report released last week. [Extracted from the article]

China-based Genetron Holdings Ltd. announced that it received emergency-use authorization from the U.S. Food and Drug Administration for its Covid-19 detection kits as well as permits from local authorities to export the product. The virus-detection tests independently developed by Genetron Health, was put in a list of approved Covid-19 reagent manufacturers by the China Chamber of Commerce for Import and Export of Medicines and Health Products, Genetron said Saturday in an emailed statement. [Extracted from the article]