Feed aggregator

Indonesian President Prabowo Subianto has pledged to phase out all of the country’s coal-fired and fossil fuel-based power plants over the next 15 years.

Norway will join a fund from the Asian Development Bank (ADB) that seeks to provide carbon finance to developing countries in Asia Pacific to support Article 6 projects, the country announced at COP29 on Wednesday, pledging $50 million to the effort.

The COP29 global climate summit enters its last day on Friday amid widespread frustration surrounding negotiations over a new global climate finance target, as a headline sum is yet to emerge.

Carbon pricing in the buildings sector can be fully offset, even for hardship cases where households face significant financial burdens from climate policy measures, according to research published on Wednesday.

The Integrity Council for the Voluntary Carbon Market’s (ICVCM) recent approval of three REDD+ methodologies paid special attention to the environmental and social safeguards of Indigenous and local communities, an ICVCM senior expert said Thursday.

Brazilian public prosecutors asked a federal court this week to suspend carbon credit concessions launched by the state of Amazonas, citing concerns around potential violations of Indigenous rights, according to a national media outlet.

Some 13% of companies that are offsetting their emissions are applying the resulting credits to 100% or more of their Scope 1, 2, and 3 emissions, according to a report released on Wednesday.

The EU’s Green Claims Directive, currently under negotiation in Brussels, could go some way towards restoring trust in the voluntary carbon market (VCM), provided that policymakers do it right and don’t overstretch their mandate, experts say.

New oil and gas fields are less carbon-intensive than old ones because they use state-of-the-art technology, providing significant decarbonisation gains, consultancy Wood Mackenzie said in a new report published on Thursday.

Investors can now customise how they analyse climate risks and portfolio alignment with global temperature goals, thanks to a new reporting tool released on Thursday.

A Swiss NGO has alleged that a clean cooking project developed under a bilateral agreement between Ghana and Switzerland is using assumptions that inflate issuances of credits generated under Article 6.2 of the Paris Agreement, known as Internationally Transferred Mitigation Outcomes (ITMOs).

Project developers are urging the SBTi to listen to the Global South and allow credits to be used for Scope 3 emission targets to strengthen the voluntary market.

More than 260 companies have signed a letter outlining what is needed to expedite the shift away from fossil fuels, urging negotiators to tighten up texts at the COP29 global climate summit, underlining that policy clarity is crucial for private sector support.

Two project developers announced on Thursday the construction of a direct air capture (DAC) facility to be run entirely on wind power and stored onsite using geological storage in central Texas.

Fossil fuel companies that have sent lobbyists to COP summits produced enough oil and gas since the 2015 Paris Agreement to cause 17 million heat deaths, according to new analysis released on Thursday.

Steve Reed says he may not agree on inheritance tax changes but government will listen to rural Britain

• UK politics live – latest updates

The UK environment secretary has promised to reform the food system to ensure farmers are paid fairly for the food they produce, after many filled the streets of Westminster to campaign against inheritance tax changes.

Speaking at the Country Land and Business Association (CLA) conference, Steve Reed said: “I heard the anguish of the countryside on the streets of London earlier this week. We may not agree over the inheritance tax changes, but this government is determined to listen to rural Britain and end its long decline.”

Continue reading...

Large, heavy-emitting economies appear to be winning the battle over if and how the COP29 summit should push forward on last year's landmark commitment to transition away from fossil fuels — raising alarm bells for many in Baku.

AI-powered building optimisation can boost energy efficiency by 20-30% at a fraction of traditional capital expenses, an executive at a Lithuanian proptech startup has told Carbon Pulse.

A partnership of local authorities in England soft-launched on Tuesday to scale delivery of nutrient mitigation credits, while exploring how to combine them with biodiversity net gain (BNG) units, following government investment.

EU carbon prices climbed to their highest in nearly 12 weeks on Thursday morning as concerns over rising geopolitical tensions in Ukraine and a short unplanned North Sea outage encouraged natural gas traders to buy, helping carbon to breach an important psychological level for the second time this week.