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California government agencies on Wednesday largely punted their response to sweeping watchdog proposals to strengthen the WCI-linked cap-and-trade programme until after the forthcoming Scoping Plan update, though they did disclose some potential steps the state could take following the end-year finalisation of the climate strategy document.

US biofuel credit (RIN) values raced higher this week amid rising feedstock prices, while traders also said further clarity regarding final Renewable Fuel Standard (RFS) quotas may also be providing support.

Mike Cannon-Brookes says the bid for AGL is designed to create a faster, cheaper and less risky transition to green energy, and could be a model for future transactions.

The post Cannon-Brookes says AGL bid may be “unicorn” for cheaper, faster energy transition appeared first on RenewEconomy.

Dry regions will get drier and wet regions wetter as the climate changes. How quickly? Quicker than we thought, unfortunately. Taimoor Sohail, Postdoctoral research associate, UNSW Sydney Jan Zika, Associate Professor, UNSW Sydney Licensed as Creative Commons – attribution, no derivatives.

An intergovernmental organisation that works with host countries on low-carbon development aims to secure its first Paris-compliant deal for an internationally transferred mitigation outcome (ITMO) by the end of 2022 from one of its 12 emissions trade projects, a senior director told Carbon Pulse. 

Three solar farms in NSW will supply energy to 25 Sydney local governments in landmark PPA that will see 19 of the participating councils reach 100% renewables.

The post 25 Sydney councils ink massive renewables PPA with three NSW solar farms appeared first on RenewEconomy.

Rising temperatures pushing much more freshwater towards poles than climate models previously estimated

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Rising global temperatures have shifted at least twice the amount of freshwater from warm regions towards the Earth’s poles than previously thought as the water cycle intensifies, according to new analysis.

Climate change has intensified the global water cycle by up to 7.4% – compared to previous modelling estimates of 2% to 4%, research published in the journal Nature suggests.

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Australian Conservation Foundation says blowouts show government’s safeguard mechanism is ‘failing’ to control industrial emissions

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A fifth of Australia’s major coal, gas and oil facilities emit significantly more greenhouse gas than originally estimated in government approval processes, an investigation has found.

In the worst cases, some fossil fuel developments now emit more than 20 times what was expected before they were given the green light, according to a report by the Australian Conservation Foundation (ACF).

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Bid by Mike Cannon-Brookes to take over AGL drew some strong words from the prime minister, but do his claims stack up?

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The prime minister, Scott Morrison, was convinced of only one thing this week as news came of an $8bn bid to buy the country’s biggest greenhouse gas emitter in order to shut its coal plants early.

“Let me be really clear about something,” Morrison said. “We need to ensure that our coal-fired generation of electricity runs to its life, because if it doesn’t, electricity prices go up, they don’t go down.”

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Uniper and Endesa both announced a significant year-on-year increase in ETS-covered fossil fuel power generation for 2021, the firms said in financial results this week, with a strong rise in gas-fired output driving the growth as well as a surge in coal burn in the case of Uniper. 

In Wycombe, voters have set up Steve Baker Watch to send him a message. His Net Zero Scrutiny Group should heed it too

Steve Baker and the group of MPs and peers who make up the Net Zero Scrutiny Group are risking not only my future but that of my children. That may sound over-dramatic, but it’s what I firmly believe to be true – and it’s why I have set my heart on making Baker either change his climate stance or change his job of MP for Wycombe.

How did I get here? Since I had my children, my climate anxieties have rocketed. I have read enough climate science to know that food shortages, flooded cities and millions dying, especially in the global south, are down the line if we don’t act now. I can’t bear the idea of my children living in that future.

Gemma Rogers is an occupational therapist and a member of Steve Baker Watch

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North American offset project developer Bluesource and environmental commodities company Element Markets on Wednesday announced they will form a combined entity under the backing of a global impact investor, adding to the booming consolidation movement within the international carbon credit industry.

One of the most senior staffers at standards body Verra is joining South Pole, with the offset developer and consultancy looking to broaden its technology-focused portfolio into nature as part of an ongoing expansion.

European carbon prices rose to their highest in more than a week as EUAs moved in line with broadly firmer energy markets, with tensions continuing to mount in Ukraine after Russia announced it would send troops into the separatist regions of Donbas and Luhansk.

Some of Australia's largest fossil fuel projects significantly underestimated how much greenhouse gas emissions they would produce.

The post “Emissions blowout:” Australian coal and gas projects underplay emissions in planning process appeared first on RenewEconomy.

Project developers are preparing a number of large REDD projects in Papua New Guinea, each capable of generating millions of offsets every year, though market participants are wary amid a long list of risks that have been associated with PNG forest carbon activities for over a decade.

The price for Chinese carbon allowances is expected to almost triple by the end of the decade after an initial gradual increase to 2025, according to a price survey released this week.

The combination of New Zealand’s historical CO2 permit surplus and new forestry investment at current carbon price levels means NZU demand will likely be met for the next decade even if the price doesn’t climb any higher, analysts said Wednesday.

The number of exceptional wildfires will increase by 50% by the end of the century, the UN warns.

Even previously unaffected countries likely to see uncontrollable blazes, says study, which calls for shift to spending on prevention

Wildfires that have devastated California, Australia and Siberia will become 50% more common by the end of the century, according to a new report that warns of uncontrollable blazes ravaging previously unaffected parts of the planet.

The escalating climate crisis and land-use change are driving a global increase in extreme wildfires, with a 14% increase predicted by 2030 and a 30% increase by 2050, according to a UN report involving more than 50 international researchers.

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