Author: omc_admin

The UK government will launch a Transition Finance Pilot to identify and remove regulatory barriers that hinder companies from reducing carbon emissions. Led by the Financial Conduct Authority, Bank of England, and Green Finance Institute, the pilot aims to unlock green finance and attract up to £200 billion in investment. Chancellor Rachel Reeves’ Mansion House speech will reinforce Labour’s push to make the UK a global leader in green finance while addressing fiscal and economic growth challenges. UK Launches Green Finance Pilot to Tackle Barriers to Emission Cuts Chancellor Rachel Reeves will direct UK financial regulators to address obstacles hindering…

Uttar Pradesh rolled out the Gram-Urja model to boost energy self-sufficiency and employment opportunities for rural households.The initiative promotes the local production of organic fertiliser and aims to reduce domestic LPG use by 70 per cent , the state government said in a statement on Tuesday.The initiative is being integrated with the Mahatma Gandhi National Rural Employment Guarantee (MGNREGA) scheme, and is planned to directly benefit farmers. Biogas units will be installed near individual households or farms, enabling farmers to produce both cooking gas and organic fertiliser for personal use. This will cut farming costs and improve productivity, the statement…

ORLANDO, Fla. (AP) — A drenching weather system moving across Florida on Tuesday wasn’t even a tropical anything but has the potential to develop into a tropical depression as it moves into the northeastern and northern Gulf later in the week, according to National Weather Service forecasters.The system would be called Tropical Storm Dexter if it became a named storm, but it was expected to be far less lethal than the namesake vigilante serial killer of the Showtime crime drama, “Dexter” which was set in Florida.The National Weather Service said the area of low pressure off Florida’s east coast was…

Moscow: Kazakhstan’s oil output rose last month after slightly falling in May, and remained above the country’s frequently-exceeded quota set by the OPEC+ group, OPEC monthly data showed on Tuesday.According to OPEC, Kazakhstan’s oil production rose by 64,000 barrels per day in June to 1.847 million bpd.Under the latest agreement reached by OPEC+, which includes the Organisation of the Petroleum Exporting Countries and allies, Kazakhstan’s quota for June stood at 1.5 million bpd. A source familiar with the data told Reuters earlier this month that Kazakhstan oil output matched an all-time high in June at 1.88 million bpd as the…

New Standard Targets Industry-Wide Transparency: GRI’s proposed Sector Standard aims to improve reporting across the full value chain in the global textiles and apparel industry. Focus on Environmental and Social Risks: The draft addresses major sector risks including hazardous chemical use, gender discrimination, excessive working hours, and poor labor practices. Stakeholder Engagement Open Until September 28: Public consultation seeks input from all players—brands, suppliers, civil society, investors—to shape a practical, globally relevant reporting framework. The Global Reporting Initiative (GRI) has launched a global public consultation on its proposed Textiles & Apparel Sector Standard, advancing efforts to improve transparency and accountability…

A growing number of climate groups are campaigning for the introduction of a wealth tax to ensure the transition to a sustainable economy is not done “on the backs of the poor”.Last week campaigners from Green New Deal Rising staged a sit-in outside the Reform UK party’s London headquarters as part of a wave of protests targeting the offices, shops and private clubs of the super-rich across the UK.The Pay Up campaign – backed by more than 20 civil society groups including Friends of the Earth, the National Education Union and Tax Justice UK – is calling on the government…

President Donald Trump’s threat to impose financial penalties on Russia has put the spotlight on the two biggest buyers of Moscow’s crude — India and China — but markets remain skeptical of disruption, for now. India became a major importer of Russian oil since the invasion of Ukraine in early 2022. More than a third of overall purchases have been from the OPEC+ producer this year, compared with less than 1% prior to the war, according to data from Kpler. China’s imports have also climbed over the same period. Still, the initial reaction from the market to Trump’s remarks was nonchalance. Global benchmark Brent…

U.S. gasoline prices climbed for a second consecutive week despite falling oil benchmarks, with the national average rising to $3.11 per gallon and diesel hitting $3.676, the highest since August 2024, according to GasBuddy. GasBuddy analyst Patrick De Haan cited tight inventories and strong seasonal demand as key factors, noting diesel remains under the most upward pressure due to export strength and regional supply constraints.The price increase comes as crude benchmarks see a small rebound. As of morning trading on Tuesday at 9 a.m. ET, the U.S. crude benchmark, West Texas Intermediate (WTI) was trading at $67.04, up 0.09% on…

The OPEC+ producers pumped 41.559 million barrels per day (bpd) of crude oil in June, up by 349,000 bpd from May, but lower than the 411,000 bpd monthly increase under the alliance’s output hike plan.These production figures, reported by OPEC in its Monthly Oil Market Report (MOMR) out on Tuesday, suggest what market analysts have been saying for weeks—the actual monthly production hikes are lower than the headline quota number, which spooked the market, fearing oversupply when the output hikes were first announced.OPEC-only production from the 12 members of the cartel rose by 220,000 bpd in June from May, with…

Global Benchmarking Tool: EcoBeautyScore is the first industry-wide, science-based environmental scoring system for cosmetics, developed by a 70+ member consortium. Consumer Trust & Transparency: Backed by third-party audits, the A-to-E rating system is already influencing purchasing behavior across Europe, China, the U.S., and Brazil. Scalable Sustainability Framework: Aligned with EU Product Environmental Footprint (PEF) standards, the tool identifies environmental “hotspots” and supports sustainable product design. EcoBeautyScore, the new global environmental rating system for cosmetics and personal care products, has officially launched across select European markets. Backed by major industry players including L’Oréal Paris, Neutrogena, Nivea Q10, and Eucerin, the platform…