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The co-founder of a carbon credit ratings agency on Thursday urged the UN to ensure that the "lessons of the voluntary carbon market" are applied to the issuance of credits under the Paris Agreement's Article 6, referring to recent media allegations of over-crediting in REDD+ projects.

US-based green hydrogen leader pulls Plug on joint venture with Andrew Forrest, saying the economics did not make the project worthwhile.

The post “We could do better:” Green hydrogen leader pulls Plug on Forrest’s electrolyser factory appeared first on RenewEconomy.

Pilot trading in Russia's domestic carbon market has begun on the gas-rich island of Sakhalin after two projects have been issued with credits, economy minister Maxim Reshetnikov was reported as saying. 

Fires, land conversion, logging and water shortages have weakened resilience of 2.5m sq km of forest, says study

Human activity and drought may have degraded more than a third of the Amazon rainforest, double the previous estimate, according to a study that heightens concerns that the globally important ecosystem is slipping towards a point of no return.

Fires, land conversion, logging and water shortages, have weakened the resilience of up to 2.5m sq km of the forest, an area 10 times the size of the UK. This area is now drier, more flammable and more vulnerable than before, prompting the authors to warn of “megafires” in the future.

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Protecting nature requires financial incentives. Serious problems uncovered in carbon markets must be fixed

The strong reaction to the Guardian’s joint investigation into carbon offsetting shows how much is at stake when the effectiveness of market mechanisms in combating global heating is challenged. Already, in Australia, politicians and scientists have renewed their criticism of public entities using international carbon credit schemes to offset local emissions. Verra, the Washington-based non-profit at the centre of the story, is the world’s leading carbon standard, certifying the credits that companies use to make claims about their environmental impact. It is a blow to anyone committed to the idea that emissions trading can help the world to reach net zero, to learn that 90% of the rainforest credits analysed are unlikely to represent genuine carbon reductions.

The problem, which was uncovered by journalists working alongside experts using satellite images, is the methodology used by Verra to certify its credits. While Verra disputes the findings, and is due to publish its own assessment, the researchers found that the evidence used to calculate offsets was flawed. Predictions of what would have happened in the absence of credits were unreliable, and benefits were overstated.

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Take up of the Boiler Upgrade Scheme is lagging behind schedule

The Canadian affiliate of oil major ExxonMobil on Thursday announced a C$720 mln ($539 mln) investment in a renewable diesel facility that will lower emissions under both provincial and federal low-carbon fuel standards.

Concerns about over-crediting of REDD+ forest conservation projects have rekindled debate on whether carbon removals are preferable to carbon avoidance, though the differences are not always clear.

They say it is "perfectly understandable" that people are upset that wild camping was restricted.

Scientists identify parts of ocean suitable for seaweed cultivation and suggest it could constitute 10% of human diet to reduce impact of agriculture

An area of ocean almost the size of Australia could support commercial seaweed farming around the world, providing food for humans, feed supplements for cattle, and alternative fuels, according to new research.

Seaweed farming is a nascent industry globally but the research says if it could grow to constitute 10% of human diets by 2050 it could reduce the amount of land needed for food by 110m hectares (272 acres) – an area twice the size of France.

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Teenage athlete asks not to be considered for world cross country championships because of impact of air travel

A promising teenage athlete has declined to represent Great Britain in a competition due to be held in Australia because she is concerned about the environmental impact of the associated travel.

Innes FitzGerald, a leading junior endurance runner, cited her “deep concern” over the issue in a letter to British Athletics in which she asked not to be considered for selection for the world cross country championships.

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Understanding the scalability of different carbon removal methods is a crucial first step on this journey towards achieving the billions of tonnes of removals a year needed to meet international climate targets, write Ted Christie-Miller and Victoria Harvey of BeZero Carbon.

A carbon credit rating agency has created a scalability assessment for carbon dioxide removal (CDR) technologies, as the voluntary market tilts further towards projects that remove rather than avoid CO2 emissions.

EUAs extended their recent sharp gains to reach a one-month high on Thursday on the back of what was generally acknowledged to be a short squeeze by speculative traders, while energy prices were mixed amid forecasts for higher temperatures and increased wind generation.

Several Japanese companies announced collaborations on Thursday to sign a total of four agreements  to develop CCS value chains in both Japan and the broader Asia-Pacific region, as momentum builds for carbon capture and storage to play a more integral role in meeting the decarbonisation goals of the country’s large industrial emitters.

A wind turbine caught fire at one of the country's oldest wind projects, not for the first time.

The post Wind turbine catches fire in one of Australia’s oldest wind projects appeared first on RenewEconomy.

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Environment Agency paints bleak picture of coastal regions with eco-systems and people coming under increased pressure

Dredging is likely to increase around the English coast, while pollution and sewage are piling pressure on coastal ecosystems, and an increasing number of people are at risk of coastal flooding, the Environment Agency has warned.

Three-quarters of shellfish waters around England failed to meet “aspirational” standards for environmental protection in 2021, the report by the agency’s chief scientist’s group found.

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About the size of a bus, the space rock will whip over the southern tip of South America.

Where the US leads in using state aid and subsidies, the EU is now following. But the UK will need a change of mindset

Stagnation nation. That’s an apt two-word description of the UK, where after 15 years of sluggish economic performance the prospect is for a shallow recession this year.

Politicians know they have a problem. In the past 13 years, David Cameron, Theresa May, Boris Johnson, Liz Truss and now Rishi Sunak have all proposed different ways of fixing things, none of which have moved the dial that much. Jeremy Hunt says his budget, on 15 March will be all about growth, but don’t hold your breath.

Larry Elliott is the Guardian’s economics editor

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