Mumbai The closure of the 25-year-old dumping ground measuring 19.6 hectares at the Gorai creek in Borivli has earned the Brihanmumbai Municipal Corporation (BMC) Rs 27 crore by trading of an estimated 31,033 tonnes of carbon credits a year. The Asian Development Bank (ADB) has agreed to purchase the carbon credits from the civic body at a cost of 12 Euros per carbon credit till 2014.

A leading US lawmaker behind efforts to tackle global warming predicted on Monday that his climate change bill will advance this week in the House of Representatives, even as Republicans warned it will ruin the ailing US economy.

The White House will unveil an auto fuel efficiency proposal on Tuesday to resolve a dispute between California and the US government over emissions and accelerate the timeframe for sharply improving mileage performance, industry and other sources said.

Canada's oil sands emit more carbon dioxide than average crude so developers need a clearer picture of where greenhouse gas regulations are headed to find the best way to tap the giant resource, experts said.

Flash floods, wildfires and heatwaves brought on by climate change could test Europe's ability to insure against and respond to natural disasters, a new report warns.

Flooding of the Nile Delta and further desertification of north Africa could also unleash a wave of migrants from Europe's southern neighbours, said delegates at the launch of the European Union-backed ADAM report.

The European Union urged Australia on Monday to make deeper cuts to greenhouse gas emissions than it has committed to so far, saying the success of climate change talks this year depended on tougher action from rich nations.

Democrats in the US House of Representatives have negotiated a climate change bill that would give industries most of the pollution emission permits they would need, according to documents obtained on Friday.

The United Nations took a step towards a new climate treaty on Friday by publishing the first draft negotiating texts to help bridge a "great gulf" between options for rich nations to cut greenhouse gas emissions.

Fifteen percent of emissions permits would be sold to polluters each year under a climate change bill moving through the US House of Representatives, according to a document circulated on Friday describing the legislation.

Oil refiners would be given 2 percent of greenhouse gas emission permits under a proposed climate change bill that Democrats in the US House of Representatives are writing, according to a document describing that legislation.