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Cop27: coral conservation groups alarmed over ‘catastrophic losses’
World faces ‘stark reality that there is no safe limit of global warming for coral reefs’, says researcher
You don’t have to travel far from the sprawling convention center that’s staging the UN climate talks in Sharm el-Sheikh, Egypt, to see what’s at stake. This coastal resort town is fringed by an ecosystem seemingly facing worldwide cataclysm from global heating – coral reefs.
As negotiators haggle over an agreement that may or may not maintain a goal to restrain global temperature rise to 1.5C above pre-industrial levels, the nearby corals face a more brutally unyielding scenario.
Continue reading...ECJ weighs in on Austrian carbon trading tax fraud case
Euro Markets: Midday Update
Underwater in Sharm el-Sheikh: examining the importance of coral reefs – video
'Coral reefs are not just a pretty face,' says Simon Donner, a climate scientist taking a break from Cop27 to go snorkelling with the Guardian in Egypt.
Reefs provide 'really incredibly important services to people all across the tropics and subtropics, including food, income, but also shoreline protection', he said, adding that without the structure of the coral reef off the coast of many islands, waves and the effects of rising sea levels would be much greater.
The coral reefs off the coast of the resort town are part of a 2,485-mile Red Sea network, with 200 species of coral off Egypt alone. They are considered by scientists to be more resilient to global heating than those found elsewhere in the world, such as Australia's Great Barrier Reef, which has suffered four mass-bleaching events in the past six years.
But here, Donner spotted signs of disease and possible heat-related damage to corals that closely hug the shoreline.
Continue reading...New Zealand plans centralised carbon trading platform as part of ETS governance overhaul
Ocean-based blue carbon venture agrees deal with blockchain firm
Cop27: first draft of key text published as fears raised of lack of ambition – live
The first version of the document has come out, but it may change significantly in coming days
As global politicians face difficult discussions on the draft over the coming hours, public opinion appears to be supportive of the idea that richer countries should pay loss and damage finances for climate action in poor countries.
Damian Carrington, our environment editor writes: A significant majority of people in the UK think the country has a responsibility to pay for climate action in poorer and vulnerable countries, an opinion poll conducted for the Guardian shows.
No details of a fund on loss and damage financing for poorer countries
“Welcomes” the fact that parties agreed for the first time to include “matters related to funding arrangements responding to loss and damage” on the summit agenda.
No call for a phase down on all fossil fuels
Stresses the importance of exerting all efforts to meet Paris Agreement goal of holding global average temperature to well below 2C and pursuing efforts to limit the temperature increase to 1.5 C
Kicking our growth addiction is the way out of the climate crisis. This is how to do it | Larry Elliott
With the right global economic policies, we could fight poverty and global heating at the same time
For the best part of three centuries, there has been a consensus about the goal of economic policy. Since the dawn of the industrial age in the 18th century, the aim has been to achieve as rapid growth as possible.
It’s not hard to see why there has been this focus. Growth has raised living standards, increased life expectancy, improved medical care and resulted in better educated, better fed populations.
Continue reading...China’s Liaoning rolls out small-scale offset scheme
COP27: UAE’s green energy investor signs green hydrogen deal with Egypt as climate talks host seeks key supplier role
Draft Cop27 agreement fails to call for ‘phase-down’ of all fossil fuels
Document will provide basis for negotiations over coming days and is likely to be significantly reworked
The UN climate agency has published a first draft on Thursday of what could be the overarching agreement from the Cop27 climate summit in Egypt However, much of the text is likely to be reworked in the coming days.
The reaction from some NGOs has been swift and frustrated, with one Greenpeace representative saying it paved the way for “climate hell”.
Reuters contributed to this report
Continue reading...‘Vast’ mass of microbes being released by melting glaciers
Bacteria can fertilise ecosystems but need to be studied closely to identify potential pathogens, scientists say
Hundreds of thousands of tonnes of bacteria are being released by melting glaciers, a study has shown.
The microbes being washed downstream could fertilise ecosystems, the researchers said, but needed to be much better studied to identify any potential pathogens.
Continue reading...COP27: South Korea to deepen Article 6 ties with Mongolia, seeks CBAM reassurances from the EU
Mosquito population explosion plagues flood-ravaged NSW – video
A video shot by farmer and wool classer Nicole Fragar shows persistent heavy rain and flooding in NSW has led to an explosion in the mosquito population. 'This video was taken after four nights of decent rainfall. The mosquitos came out with a vengeance,' Frager says
Continue reading...Majority of Britons say UK should pay for climate action in poor countries
Exclusive: Funding from rich countries is critical issue at Cop27 and poll shows many think UK has duty to provide it
A significant majority of people in the UK think the country has a responsibility to pay for climate action in poorer and vulnerable countries, an opinion poll shows.
The issue of rich, polluting countries providing substantial funding to developing countries is central to the UN’s Cop27 climate summit in Egypt. Experts have warned that, without the flow of many billions of dollars to help cut emissions and cope with increasingly severe environmental impacts, there will not be the trust needed for the combined global action required to beat the crisis.
Continue reading...“Bridge to nowhere:” Why BlueScope Steel is a decarbonisation laggard in Australia
In the US, BlueScope continues to aggressively invest in becoming a leader in steel sector decarbonisation. In Australia, it offers little more than greenwash and spin.
The post “Bridge to nowhere:” Why BlueScope Steel is a decarbonisation laggard in Australia appeared first on RenewEconomy.
Western Australia sets new renewables record of 81% – in world’s biggest isolated grid
WA grid reaches record level of 81 per cent renewables, driven mostly by rooftop solar.
The post Western Australia sets new renewables record of 81% – in world’s biggest isolated grid appeared first on RenewEconomy.
'First digital nation': Tuvalu turns to metaverse as rising seas threaten existence – video
Tuvalu says it plans to build a digital version of itself, replicating islands and landmarks and preserving its history and culture, as rising sea levels threaten to submerge the tiny Pacific island nation. Seemingly speaking from within the digital replica of one Tuvalu island, the foreign minister Simon Kofe, said it was the only way to preserve their country 'piece by piece' so that they can remind their 'children and grandchildren what their home once was'.
Business goes for price over integrity in the Australian carbon market
New data shows that more than 90% of all voluntary cancellations of carbon offsets in the past year have been in the form of low-cost credits.
The post Business goes for price over integrity in the Australian carbon market appeared first on RenewEconomy.
AEMC doubles electricity price cap to accommodate volatile and costly fossil fuels
Australian Energy Market Commission rules in doubling of administered price cap to manage extreme market volatility caused by soaring coal and gas prices.
The post AEMC doubles electricity price cap to accommodate volatile and costly fossil fuels appeared first on RenewEconomy.
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