Italy has approved a €35 billion ($36 billion) budget law for next year which will raise a windfall tax on energy companies in order to expand aid to families and businesses hit by higher prices.
The COP27 climate talks in Egypt, which came close to collapse in the closing stretches, ended with an early-hours deal to create a fund to pay poorer countries for the harm caused by climate change.
An offshore wind expert has labelled the UK Government’s new electricity generators windfall tax a “penalty” on early entrants into the renewables market.
Climate negotiators are on track to reject a proposal for a more sweeping plan to phase down fossil fuels, snuffing efforts by India and key developed nations to target oil and gas as well as coal in an overarching deal at COP27.
Shareholders in Reabold Resources have put their faith in the North Sea firm’s board to deliver on their promises, snubbing an attempt to replace them.
With an increase in the tax imposed on North Sea oil and gas is considered “inevitable”, a speaker at a business event in Aberdeen called for the north-east region to be recompensed with a green free port to ensure jobs are retained and the transition to low carbon energy is achieved.