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Members of the European Parliament appeared divided as they discussed a set of potential new rules for the agri sector in a double meeting with the Commission on Tuesday.

TotalEnergies announced on Monday the acquisition of a 25% stake in Bayou Bend carbon capture and storage facility plus shares in two other projects, in a $148 million deal for the CCS subsidiary of Talos Energy.

The UK is seeking feedback on a policy framework to support biomethane production, including on how to distinguish its emissions from those from fossil gas in the country's ETS.

Community leaders of a Kenyan REDD avoided deforestation voluntary carbon project that was mired by a sexual offences scandal have sternly rebuked the handling of the investigation, alleging disgruntled former employees were offered cash to make statements that were embellished to suit the narrative.

The chair of the European Parliament’s international trade committee has called on the EU to be “flexible” with the Carbon Border Adjustment Mechanism (CBAM), saying legislators should be ready to amend the regulation if needed at the end of the transitional period.

Shadow chancellor to use annual Mais lecture to set out plans to green the economy if party wins election

A Labour government will make fighting global heating a priority for the Bank of England as it seeks to put environmental sustainability at the heart of its plans to grow the economy, Rachel Reeves is to announce.

The shadow chancellor will say in a speech in London on Tuesday evening that if Labour wins the general election she will reverse Jeremy Hunt’s decision last year to downgrade the emphasis on the climate crisis in Threadneedle Street’s main objectives.

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There is a risk of the “dark side of carbon dioxide removals (CDR) taking over” if technologies to suck CO2 from the atmosphere are included in the EU's Emissions Trading Scheme (EU ETS), experts warned at an event in Brussels on Tuesday.

Oil major Shell spent $86 million on voluntary carbon credit-generating projects last year, and saw its retirements rise 275% year-on-year to 21.8 mln.

Gold Standard will update its requirements to comply with those of the Integrity Council for the Voluntary Carbon Market (ICVCM), meaning voluntary carbon credits will need to include data on the entity and purpose of retirement when the action is completed on its registry.

Denmark-based Velux Foundation has allocated $1 million to a newly launched programme aimed at developing metrics to support financial institutions in measuring their impacts and dependencies on oceans, Carbon Pulse has learned.

Projects to rewild habitats offer similar CO2 sequestration rates as new native woodland initiatives over a 19-year period, in addition to better biodiversity outcomes, according to a study of an estate in southern England.

A Vancouver-based asset manager has launched an investment screen focused on biodiversity in an effort to align its portfolio with conservation goals.

A London-based brokerage will acquire a New Zealand energy and carbon firm to offer its international clients better access to the NZ ETS.

Records being broken for greenhouse gas pollution, surface temperatures and ocean heat

The world has never been closer to breaching the 1.5C (2.7F) global heating limit, even if only temporarily, the United Nations’ weather agency has warned.

The World Meteorological Organization (WMO) confirmed on Tuesday that 2023 was the hottest year on record by a wide margin. In a report on the climate, it found that records were “once again broken, and in some cases smashed” for key indicators such as greenhouse gas pollution, surface temperatures, ocean heat and acidification, sea level rise, Antarctic sea ice cover and glacier retreat.

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Neither the Tories nor Labour seem bothered by the climate mayhem that awaits us, but to save lives they must act

It’s the August bank holiday in 2050 and the UK is sweltering under the worst heatwave on record. Temperatures across much of England have topped 40C for eight days running: they peaked at 46C, and remain above 30C in cities and large towns at night. The country’s poorly insulated homes feel like furnaces, and thousands of people have resorted to camping out at night in the streets and local parks in a desperate attempt to find sleep. Hospital A&Es are overwhelmed and wards are flooded with patients, mostly old and vulnerable people who have succumbed to dehydration and heatstroke. Already, the death toll is estimated at more than 80,000.

No, this isn’t the beginning of a dystopian drama, but a snapshot of a mid-century heatwave unless we prepare for the increasingly extreme weather that will be driven by climate breakdown. To say that the government has no credible plan for this, as the UK Climate Change Committee did last week, is – if anything – an understatement. Britain is woefully underprepared for extreme weather, and in a number of key areas we are going backwards. About one in 15 of England’s most important flood defences were in a poor or very poor condition in 2022, up from roughly one in 25 just four years previously. The government’s Great British insulation scheme is operating at such a slow pace that it would take nearly 200 years to upgrade the country’s housing stock, while Labour has rowed back on its ambitious plans to insulate 19m homes within a decade.

Bill McGuire is professor emeritus of geophysical and climate hazards at UCL, and the author of Hothouse Earth: an Inhabitant’s Guide

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UK environmental watchdogs have announced investigations into arms of the governments in England, Scotland, and Northern Ireland for possible failures to comply with bird protection laws, in a move seen as significant.

European carbon allowance prices continued to be driven by fluctuations in natural gas prices on Tuesday morning, briefly topping a technical resistance level as the TTF front month rose to a six-week high, before both contracts fell back into negative territory.

A group of nearly 100 former government officials and civil servants in India has published an open letter to the government, urging it to withdraw the recently published guidelines for awarding credits to forestry projects under the country’s Green Credit Scheme.

A new direct air capture (DAC) and sequestration facility is set to open in the US, claiming to capture and store 2 million tonnes of carbon annually and to achieve a tenfold cost reduction for the technology.

A developer of biochar-based carbon removal parks has secured €25 million in growth funding from a French impact investor to further its network across Europe.