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The government estimates it will need £25-30bn to convert sites to low-carbon heating, BBC learns.

EU member states made scant progress in the past month in handing out free carbon permits for 2022, data published late Friday showed.

Compliance entities reduced their California Carbon Allowance (CCA) and RGGI Allowance (RGA) holdings across the board this week, while speculators added to RGA holdings and lifted CCA net length to four-month highs amid the October contract expiry, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

A carbon credit ratings agency has downgraded the scores of four projects and given the same lowest-possible grade for two newly examined projects of similar characteristics in its latest update.

GHG output under the California cap-and-trade programme bounced back in 2021 as the state emerged from earlier rounds of the COVID-19 pandemic, according to data published Friday, with the emissions figure coming in at the lower end of market stakeholders’ expectations.

A market-based forest conservation programme in Brazil appears poised for firmer backing under President-elect's Luiz Inacio Lula Da Silva administration given his pledge to end deforestation and his party's implementation of laws to protect the Amazon.

Labor has improved Australia’s emissions pledge on the one Scott Morrison took to Glasgow, but observers say it will still have questions to answer

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The Australian government will use the UN climate conference in Egypt to launch a bid with Pacific nations to host the 2026 summit and pledge its support for greater action, including measures that the country’s previous government rejected a year ago in Glasgow.

The Cop27 conference in Sharm el-Sheikh, a small resort city on the Sinai peninsula, is the first since the Labor government led by Anthony Albanese was elected in May. It arrives for the fortnight-long talks as one of few national governments to have followed through on a commitment made in Glasgow that all countries would re-examine their plans with a view to increasing their commitments this year.

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When it comes to industrial relations reform, there is no interest like self interest

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All governments have seasons. In just under six months, the seasons of the Albanese government have been victory, transition, honeymoon, events.

The latest Guardian Essential poll tells us voter reception of the prime minister remains broadly where Labor would want it to be – 73% of respondents are either positive (45%) or neutral (28%). So, for now, the tolerance and goodwill persists. But there’s been a noticeable transition in atmosphere over the past fortnight. The shift suggests the government is bearing down on its next season: the summer of rent seekers.

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More tree conservation projects could be potentially created in the savannas and shrub lands of sub-Saharan Africa than from the rich rainforests around the continent’s equator, according to one of the founders of a soon-to-be launched free-to-access digital platform that promises to calculate the carbon content of every tree on the planet.

At least 10% of revenues from EU ETS auctions should be allocated to finance climate action in poorer nations, senior MEP Peter Liese said in a briefing on Friday, signalling that the bloc's parliament will push the issue at the upcoming COP27 UN climate conference in Sharm el-Sheikh.

A Brussels proposal for carbon removal labelling is due out by month-end, though NGOs have already raised concerns about a leaked draft, questioning its effectiveness and whether it risks undermining EU climate ambition.

Norway, the largest oil producer in Europe, has raised its emission reduction target to at least 55% of 1990 levels by the end of this decade, keeping step with the EU’s goal as it looks to increasingly link its climate policy with the 27-nation bloc.

EU finance ministers will next week discuss a Brussels idea to fund the early running costs of the bloc's carbon border adjustment mechanism (CBAM) with ETS auction revenue, though they are not expected to reach agreement as they are too divided on the issue, an EU source said on Friday.

The world’s biggest carbon offset developer EKI Energy Services saw its revenue and profit decline in the second quarter, though they still remained above year-ago levels over the first half of the financial term, according to results published Friday.

South African president Cyril Ramaphosa has said that his country's transition from coal to clean energy and wider transition will require 1.5 trillion rand, or around $83 billion, over the next five years, in an online address Friday.

The King will not be attending the UN climate summit COP27 which starts on Sunday.

European carbon recovered solidly on Friday morning and flirted with a key technical level after a second successive strong auction result triggered buying, while energy markets were left unimpressed by a cut in nuclear output forecasts in France.

A Republican takeover in the US Congress on Nov. 8 could create barriers to implementing Democrats’ climate-focused Inflation Reduction Act (IRA), and a strong GOP showing at the state level could scuttle North Carolina’s planned RGGI linkage and Arizona’s clean energy plans, experts told Carbon Pulse.

Egypt has expressed frustration at leaders making positive statements that are abandoned in negotiations

Governments meeting for vital climate talks have been accused of making positive commitments in public but denying them later in the privacy of the negotiating rooms by the Egyptian hosts of the summit.

Wael Aboulmagd, the Egyptian diplomat in charge of running the negotiations at the Cop27 UN climate summit, said: “Political statements and pledges are made in front of the cameras, but in the negotiating rooms it’s back to the adversarial approach. These [publicly positive positions] will not be of value until translated into the negotiating rooms, and that has not been the case so far.”

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About 70 people seized in protest at environmental damage from crude oil spillage into Cuninico River

Indigenous people in the Amazon in Peru have detained a group of Peruvian and foreign tourists, including UK and US citizens, in protest at a lack of government aid following an oil spill in the area.

“[We want] to call the government’s attention with this action, There are foreigners and Peruvians, there are about 70 people,” Watson Trujillo, the leader of the Cuninico community, told RPP radio.

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