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Weekly trading volumes in China's national carbon market continued to shrink over the past week due to slowing compliance demand, with participants saying most regulated entities have now surrendered their permits for 2021 and 2022 compliance.

Western Australia will end commercial logging in its old growth and native forests from the beginning of next year, according to a government plan released Friday.

Environmental trading platform Regen Network is lining up a vote among its community members to decide whether to start listing units generated by Colombia-based Terrasos as a first outright biodiversity credits on the platform, with others to follow.

The states of Western Australia and Queensland both made updates to their climate plans this week, showing the yawning levels of difference in ambition, at least on paper, between them.

Exclusive: Sultan Al Jaber says Adnoc has to meet demand for fossil fuels, and hails ‘unprecedented’ Cop deal

The president of the Cop28 climate summit will continue with his oil company’s record investment in oil and gas production, despite coordinating a global deal to “transition away” from fossil fuels.

Sultan Al Jaber, who is also the chief executive of the United Arab Emirates’ national oil and gas company, Adnoc, told the Guardian the company had to satisfy demand for fossil fuels.

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The summit’s moves to intermesh nature and climate goals are welcomed by campaigners, but concerns remain

Conservation groups have hailed the inclusion of biodiversity and a 2030 global deforestation goal in the UAE consensus that emerged from Cop28, along with positive wording on the role of Indigenous communities.

Some hope the deal could help to intermesh nature and climate more closely, rather than treating the two as separate subjects. But many expressed concerns that tepid language on fossil fuel emissions would fail to control the global heating responsible for eroding forest resilience to drought, fire and disease, threatening to tip carbon-rich ecosystems into becoming a source of the greenhouse gas emissions that are heating the planet.

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Terrapinn Limited is bringing the Australian edition of Solar & Storage LIve to Brisbane Convention & Exhibition Centre on 1 & 2 May 2024.

The post World’s largest series of solar & storage trade shows is coming to Brisbane – Solar & Storage Live Australia 2024 appeared first on RenewEconomy.

A UK-based start-up has raised $1.6 million in pre-seed investments to scale its AI technology that it says can convert high-resolution landscape imagery to actionable insights.

Baringa’s Anne Bailey talks about the Capacity Investment Mechanism and what’s needed to make it work. Plus: AEMO’s 2024 ISP, the COP28 results, and energy ministers and coal plants.

The post Energy Insiders Podcast: Will Chris Bowen’s capacity scheme actually work? appeared first on RenewEconomy.

Lightsource bp sells its entire Australian portfolio of solar farms that are operating or under construction, as it seeks to unlock funds for the next tranche of its 7.5 GW portfolio.

The post Lightsource bp sells five Australian solar farms to Chinese buyer appeared first on RenewEconomy.

The deal is a global aspiration, not a legally binding agreement. But it should end the idea that burning carbon – in Australia and elsewhere – can continue on a significant scale beyond 2050. John Quiggin, Professor, School of Economics, The University of Queensland Licensed as Creative Commons – attribution, no derivatives.

It's been a big year for the energy transition, but it's ending on a good note, with the newly released draft 2024 ISP, the expanded Capacity Investment Scheme, and steady progress at COP 28.

The post The capacity investment scheme and 2024 ISP: Coal and gas get a hammering appeared first on RenewEconomy.

A daily summary of our news plus bite-sized updates from around the world.

Electric aviation and renewable energy among shifts needed for the Pacific to build a more sustainable tourist industry

• The price of paradise? Read our series on the environmental impact of tourism in the Pacific and how new approaches can make a difference

One of the biggest challenges in weaning off fossil fuels – and one that is often forgotten – is aviation. But for Pacific Island countries that poses a major conundrum. Right now, it would be effectively impossible to get to the Pacific islands without burning kerosene.

Aviation connects families across the region and allows for essential travel, including for health and education. Flights also form the backbone of the growing and vital tourism industry. Tourism is now the biggest economic sector in the Pacific and it can bring many development benefits.

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A major airline has agreed to purchase carbon dioxide removal (CDR) credits as the hard-to-abate sector steps up efforts to meet next zero emission targets.

The Clean Energy Regulator has revised down its annual issuance forecast of Australian Carbon Credit Units slightly, as a draft plan by the country’s electricity market operator sees coal-fired power stations retire faster than expected.

The clean cooking sector last year reached record levels of investment and revenue, according to a report by the Clean Cooking Alliance (CCA).

Shuttered German nuclear plant could be replaced by Europe's biggest battery under proposal from site owners.

The post German nuclear plant to be replaced by Europe’s biggest battery appeared first on RenewEconomy.

California Carbon Allowances (CCA) continue their ascent through the week testing the $40 level where outsized option open interest lay ahead of Friday’s option expiry, while Washington Carbon Allowances (WCA) declined through a week that saw Q4 allowance sale results surprise market participants.

Verra has initiated the development of a new Verified Carbon Standard (VCS) methodology to quantify greenhouse gas emissions from rice production systems, replacing the popular UN CDM protocol that prompted integrity concerns earlier this year.