Around The Web

RFS Market: RIN prices dive below $1.00 as lower RVO reports resurface

Carbon Pulse - Sat, 2021-12-04 05:38
US biofuel credit (RIN) values tumbled to two-month lows on Friday after several news outlets reported the EPA is slated to soon release lower Renewable Fuel Standard (RFS) quotas in line with leaked volumes this fall.
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FEATURE: Climate finance, not offsets, increasingly seen as a nature-based solution as critics persist

Carbon Pulse - Sat, 2021-12-04 05:38
With nature-based credits valued at a growing price premium to other types of carbon offsets, scrutiny over the process is also on the rise, with even forest protection standards that are said to be raising the bar on quality finding criticism for lacking environmental integrity.
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‘Mesmerising’: a massive murmuration of budgies is turning central Australia green and gold

The Guardian - Sat, 2021-12-04 05:00

After a bumper wet season, huge flocks of budgerigars are on the move in the deserts of the Northern Territory

The humble budgerigar has transformed the red centre into a sea of green and gold.

A massive murmuration – the phenomenon of thousands of birds flocking together – has swarmed the Northern Territory.

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Chalk paint and police raids: why climate activists are under fire

The Guardian - Sat, 2021-12-04 05:00

Heavy police tactics, punitive bail conditions, private lawsuits and anti-protest laws are being used to silence dissent, human rights advocates say

As protesters obstructed coal trains bound for the Port of Newcastle for days, the local environment centre kept its distance.

But after two weeks of disruptions caused by Blockade Australia, police officers arrived at the Hunter Valley Environment Centre on a Friday afternoon last month with a warrant to search the premises and a nearby sharehouse.

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The Guardian view on North Sea oil: keep it in the ground | Editorial

The Guardian - Sat, 2021-12-04 04:27

Britain won’t convince anyone else to ditch fossil fuels when it won’t do so itself

Does the decision by oil giant Royal Dutch Shell to pull out of the Cambo oilfield mark the end of oil and gas investment in the North Sea? For the planet’s sake, one would hope so. However, it may be more realistic to see Shell’s act as a first victory in a longer war to keep hydrocarbons in the ground. Campaigners say that there are dozens more offshore oil and gas fields coming up for approval in the next three years. To keep the climate safe and limit global temperature rises to 1.5C, none ought to go ahead. Oil majors have lost the battle for public opinion in Scotland and this has dramatically altered the calculations for the ruling Scottish National party, which for decades ran on oil. Without supportive politics, and with the science against them, oil majors – this time – bowed out.

Despite that, and despite brandishing its credentials as a climate champion at Cop26 in Glasgow last month, the UK government still wants extractive industries to suck the seabed dry. Rather than joining an alliance of nations – led by Denmark and Costa Rica, and including France and Ireland – which have set an end date for oil and gas production and exploration, Boris Johnson will allow companies to keep exploring the North Sea for new reserves.

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UPDATE – Q4 RGGI auction clears at record high, taps cost containment for 1st time in 6 years

Carbon Pulse - Sat, 2021-12-04 01:51
The December RGGI auction settled at a new all-time high for the fourth straight sale, partially draining volume from the power sector cap-and-trade programme’s Cost Containment Reserve (CCR) for the first time in six years, according to results published Friday.
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ANALYSIS: The carbon market’s uneasy relationship with crypto

Carbon Pulse - Sat, 2021-12-04 00:46
The sudden emergence of Klima DAO and increasing interest in the carbon market from the crypto community has created some excitement over the opportunities for climate finance, but is also generating concern over legal and environmental integrity issues.
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Cop26 could be a watershed in greening the financial sector | Howard Davies

The Guardian - Fri, 2021-12-03 23:33

New initiatives could give bankers the tools to help their clients fund and manage the green transition

The recent United Nations Climate Change Conference (Cop26) in Glasgow was, it seems, a historic success. We have this on no lesser authority than that of the UK prime minister, Boris Johnson, who happened to be the meeting’s host. The Cop26 president, Alok Sharma, also was upbeat afterward regarding the 2015 Paris climate agreement’s target of limiting global warming to 1.5C above pre-industrial levels. “We set out by saying we wanted to keep 1.5C within reach,” Sharma said. “We did do that.” And Johnson claimed that there was little difference between the proposed Cop26 agreement to “phase out” coal usage and the final text, which pledged only to “phase down” coal.

Others took a different view. Perhaps predictably, the teenage Swedish climate activist Greta Thunberg described the conference categorically as “a failure”. Climate Action Tracker projects that even if all the Cop26 pledges stretching into the future are met, the planet is on track to warm by at least 2.1C. And India is phasing out in the particular sense of phasing in, with coal-powered electricity generation expected to increase by almost 5% a year this decade. The Financial Times’s Martin Wolf hedged his bets. For him, Cop26 “was both triumph and disaster.”

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Euro Markets: Midday Update

Carbon Pulse - Fri, 2021-12-03 23:24
EUAs broke through the €80 barrier for the first time at the start of trading on Friday but failed to hold on to the new level as some profit taking emerged, while energy prices were mixed for a second day.
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The week in wildlife – in pictures

The Guardian - Fri, 2021-12-03 22:00

The best of this week’s wildlife pictures, including sunbathing monkeys, a pygmy possum and a new home for white rhinos

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Fashion must stick to climate pledges to prevent waste crisis, says UK economist

The Guardian - Fri, 2021-12-03 21:47

Dame Vivian Hunt warns of overproduction at summit attended by Tommy Hilfiger and Kris Jenner

The fashion industry is facing a waste and overproduction crisis if it continues on its current trajectory, one of the UK’s leading economic experts has warned.

Dame Vivian Hunt, a managing partner at the consulting firm McKinsey and Company, said “fashion has a long way to go to demonstrate its commitment to achieving net zero emissions”.

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CN Markets: CEAs stable as authorities encourage borrowing ahead of compliance deadline

Carbon Pulse - Fri, 2021-12-03 20:37
Trading volume in China’s carbon market has doubled amid stable prices over the past week, as several provinces allowed borrowing of allowances between companies to help firms meet the impending compliance deadline.
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Gene edited sex selection may spare animal suffering

BBC - Fri, 2021-12-03 20:01
A gene editing technique may prevent the slaughter of animals not needed by the livestock industry.
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Anthony Albanese announces Labor's 2030 emissions target – video

The Guardian - Fri, 2021-12-03 16:31

Labor leader Anthony Albanese says the party plans to reduce emissions by 43% by 2030 (on 2005 levels) if it wins the next federal election. The target is lower than the number it took to the 2019 election but higher than the Coalition's goal of 26-28%. Labor says its plan, which includes upgrading the electricity grid and an electric vehicle strategy, will create more than 600,000 jobs, cut power bills and reduce emissions

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Australia’s Labor party vows deeper emissions cuts if it wins election

Carbon Pulse - Fri, 2021-12-03 14:36
If it wins next year’s election, Australia’s opposition party will increase the nation’s 2030 emissions target and achieve those cuts by investments in clean power and tightening the Safeguard Mechanism CO2 baselines for industrials, it announced Friday.
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Regulator tips “big reduction” in emissions in 2022, as renewables push out more coal

RenewEconomy - Fri, 2021-12-03 14:25

Latest Clean Energy Regulator data sets the scene for "a big reduction of emissions” going into 2022, as solar and wind continue to push coal out of the mix.

The post Regulator tips “big reduction” in emissions in 2022, as renewables push out more coal appeared first on RenewEconomy.

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Look, no taxes! Labor’s modest target assumes 82 pct renewables and 89 pct EVs by 2030

RenewEconomy - Fri, 2021-12-03 14:22

Australian Opposition Leader Anthony Albanese (right) and shadow Minister for Climate Change and Energy Chris Bowen speak to the media during a press conference at Parliament House in Canberra. (AAP Image/Lukas Coch)Labor eyes 82 pct market share for renewables and 89 pct share of EVs in new vehicle sales by 2030, as part of its revised and "modest" emissions target.

The post Look, no taxes! Labor’s modest target assumes 82 pct renewables and 89 pct EVs by 2030 appeared first on RenewEconomy.

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Labor’s 2030 climate target betters the Morrison government, but Australia must go much further, much faster

The Conversation - Fri, 2021-12-03 13:21
Labor’s 2030 emission reduction target of 43% is more ambitious than the Coalition, but still falls well below what the science says is needed. Wesley Morgan, Research Fellow, Griffith Asia Institute and Climate Council researcher, Griffith University Licensed as Creative Commons – attribution, no derivatives.
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NSW seeks wind, solar and storage proposals for Hunter and Central Coast REZ

RenewEconomy - Fri, 2021-12-03 12:30

 Canva).NSW seeks proposals for wind, solar and storage project in a new renewable energy zone centred at the heart of its coal mining regions.

The post NSW seeks wind, solar and storage proposals for Hunter and Central Coast REZ appeared first on RenewEconomy.

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