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The U.S. outlined a new carbon-credit plan that aims to pump billions of dollars into developing countries’ energy transition, while some businesses expressed caution over investing in the program. On Wednesday, U.S. climate envoy John Kerry presented the program, called the Energy Transition Accelerator, at United Nations climate talks in Egypt. The program, he said, aims to enlist investors in efforts to reduce emissions across entire regions or countries by paying developing nations to shut down fossil-fuel energy sources and accelerate the construction of renewable energy.

SHARM EL SHEIKH, Egypt—U.S. climate envoy John Kerry is planning to propose a new carbon-credit program that aims to ramp up funding from businesses and governments in wealthy economies to help developing countries cut back on fossil fuels. Mr. Kerry said in an interview that he plans to make the proposal at the United Nations climate-change conference in Egypt on Wednesday, adding that he was still consulting with representatives of other countries on the size and structure of the program.

Geopolitical strife and energy market turmoil have upended prospects for reaching a global agreement to accelerate efforts to limit climate change, with many big economies failing to submit faster timetables for emissions reductions ahead of next week’s United Nations summit. With only days to go before world leaders and negotiators convene in the Egyptian resort town of Sharm El Sheikh for COP27, few countries have followed through on the sweeping agreement struck at last year’s conference in Glasgow. That accord urged national governments to submit more ambitious plans to the U.N. by the end of this year to wean their economies off fossil fuels and take other measures aimed at limiting global warming.

☆ France’s Nuclear Reactors Malfunction as Energy Crisis Bites
▼ + stars: | 2022-10-23 | by ( Matthew Dalton | ) www.wsj.com time to read: 1 min

PARIS—France is falling behind in its plans to return the country’s fleet of nuclear reactors to full power this winter after a rash of outages, raising fears that one of Europe’s key sources of electricity won’t be ramped up to counter Russia’s squeeze on the continent’s energy supplies. The nuclear fleet was designed to act as the front line of France’s energy security. Since Moscow cut the flow of natural gas to Europe—plunging the continent into its biggest energy crisis since the 1970s oil shock—France’s vaunted nuclear fleet has been about as effective as the Maginot Line, the French fortifications that did little to stop the German invasion during World War II.

PARIS—Thousands of people are expected to take to the streets across France on Tuesday to demand higher wages to cope with rising energy bills and broader inflation, a sign of the political turmoil facing President Emmanuel Macron and other European leaders as the war in Ukraine rages with no end in sight. Striking teachers, railway and health workers are planning to march in dozens of cities across the country, joining protests led by refinery workers who have been on strike for several weeks, choking fuel supplies nationwide and hobbling the country’s refining system. Around 28% of the nation’s gas stations have run out of either gasoline or diesel. Long lines have formed at stations that have supplies, and prices have risen sharply.

☆ Oil Refinery Strike Grips France Amid Energy Crisis
▼ + stars: | 2022-10-12 | by ( Matthew Dalton | ) www.wsj.com time to read: 1 min

Workers on strike outside an Exxon Mobil oil refinery in Port-Jerome-sur-Seine, France, on Wednesday. PARIS—A strike by French refinery workers has choked fuel supplies nationwide, deepening the country’s energy crunch as temperatures drop and Europe grapples with a sharp cut in Russian natural-gas supplies. The CGT, France’s far-left union, decided on Wednesday to continue a strike that has hobbled the country’s refining system. The union also moved to extend the strike to a refinery in Donges on the Atlantic coast owned by TotalEnergies SA. The government on Tuesday ordered employees at a fuel depot owned by Esso -SAF ES, a subsidiary of Exxon Mobil Corp., to return to work, invoking rarely-used legal powers to end strikes.

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