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Bahrain’s biggest oil company on Tuesday signed a Memorandum of Understanding (MoU) with one of the largest shipping companies in the world for developing a carbon capture and storage (CCS) value chain.

The Australian government has announced it will seek to update the so called ‘water trigger’ assessment on unconventional gas projects, as part of efforts to pass its Nature Repair Market in the Senate.

The Global Environment Facility (GEF) and the Bezos Earth Fund have become the first to pledge financial support for a Pacific Island initiative made Sunday to conserve or implement sustainable activities across more than 1 billion hectares of ocean.

Oil majors from France to the UAE highlighted ongoing efforts to cut methane emissions through new partnerships and technologies at COP28 on Tuesday, in line with the target laid out under the Oil and Gas Decarbonisation Charter (OGDC) to reach almost zero methane emissions by 2030.

AGL to trial nickel hydrogen battery that offers potential lower cost, long cycle and longer life storage options.

The post AGL to pilot first-of-its-kind nickel hydrogen battery at Torrens Island hub appeared first on RenewEconomy.

Former president of Republic of Ireland makes first comments since Sultan Al Jaber told her a fossil fuel phase out could mean ‘going back into caves’

• Global carbon emissions from fossil fuels to hit record high

Alok Sharma, an MP for the Conservative party in Britain and president of Cop26 that was held in Glasgow two years ago, has made some comments about Al Jaber’s presidency: “everyone should be questioned,” he says.

Environment ministers from Germany and Colombia have led an open letter calling for the inclusion of nature in the global stocktake outcome, which countries are negotiating at Cop28.

“The GST provides a critical moment to recognize the importance of just and inclusive means of implementation, and address the significant finance gap for nature-based solutions,” said Muhamad. “In particular, the involvement and respect for the rights of Indigenous Peoples and local communities is critical, in addition to the urgent need to align financial flows to enable the transformations required to deliver the Paris Agreement goals.”

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A Brazilian state has became the first jurisdiction in the country to commit to sign an Emissions Reductions Purchase Agreement (ERPA) with the LEAF Coalition, which will pave the way for up to 10 mln forest carbon credits to be sold to corporate buyers once a binding agreement is inked next year.

Legislation being debated in the Senate will create a market to encourage private spending on projects that protect and restore biodiversity

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The Albanese government and Greens have struck a deal to establish a nature repair market in exchange for fast-tracking an expansion of the water trigger to all unconventional gas projects.

The deal would also prevent trades in a new nature market from being used as offsets for other destruction of habitat.

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Australia has joined the Clean Energy Transition Partnership (CETP), a UK initiative designed to align international investment strategies with net zero priorities, at COP28 in Dubai.

Wind and solar output has surged past 20 gigawatts for the first time on Australian main grid, marking yet another significant milestone in the green energy transition.

The post Wind and solar output surges past 20 gigawatts for first time on Australia’s main grid appeared first on RenewEconomy.

It's Day 6 of COP28. A heady mix of philosophical and practical disputes pervades the air. Elusive, almost existential questions, like "what is a 'global stocktake'?" baffle parties, press, and observers alike. The theme of the day is energy and industry, catalysing protests but perhaps not much else – as Carbon Pulse entered Expo City to chants, hope, and disillusionment. While the COP president asserts he is "crystal clear" on his commitment to climate science, are parties equally (or more) committed to the cause of a green energy transition? In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (Gulf Standard Time, GMT+4).

Temperatures are still on track to rise by 2.5C compared to pre-industrial levels, despite an inter-governmental pledge at COP26 in Glasgow to strengthen national climate targets, a report revealed on Tuesday.

A group of multinational fund managers and advisories have been tapped to oversee a climate-focused blended finance fund targeting $1.5 billion in debt finance, they announced at COP28 in Dubai.

A group of eight multilateral development banks and development finance institutions have teamed up to launch a task force to accelerate sustainability-linked finance through approaches like debt-for-nature swaps.

The Asian Development Bank has announced a nature solutions financing hub for the Asia-Pacific region aiming to attract at least $2 billion, with a number of other institutions and organisations expressing interest in participating.

Industry experts say electric cars sales figures could be higher if the government stops delaying fuel efficiency standards

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Sales of electric vehicles in Australia have more than doubled this year compared to 2022 but industry experts say the figure could be even higher had the government introduced long-promised fuel efficiency standards.

The year-to-date sales of battery electric vehicles (EVs) have hit 80,446 compared to 28,326 for the same period last year, an increase of 185%, according to figures from the Federal Chamber of Automotive Industries. EVs made up 7.2% of all motor vehicle sales so far this year.

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Projected rate of warming has not improved in past two years, analysis shows

• Cop28 president forced into defence of fossil fuel phase-out claims
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Global carbon emissions from fossil fuels reached record levels again in 2023, as experts warned that the projected rate of warming had not improved over the past two years.

The world is on track to have burned more coal, oil and gas in 2023 than it did in 2022, according to a report by the Global Carbon Project, pumping 1.1% more planet-heating carbon dioxide into the atmosphere at a time when emissions must plummet to stop extreme weather from growing more violent.

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UAE-hosted summit admitted at least 2,456 people affiliated with oil and gas industries, analysis finds

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At least 2,456 fossil fuel lobbyists have been granted access to the Cop28 climate negotiations, according to an analysis.

The figure calculated by the Kick Big Polluters Out (KBPO) coalition is a record number that raises further questions about the fossil fuel industry’s influence over this year’s UN summit, which is being run by the president of the United Arab Emirates’ national oil company.

Fossil fuel lobbyists received more passes than the combined total of delegates (1,609) from the 10 most climate vulnerable countries combined, including Somalia, Chad, Tonga, Solomon Islands and Sudan.

Many fossil fuel lobbyists were granted access as part of a trade association, of which nine of the 10 largest came from the global north. This included the Geneva-based International Emissions Trading Association, which brought 116 people including representatives from Shell, TotalEnergies and Norway’s Equinor.

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Ed Miliband asks for urgent assurances about government and regulators’ actions after vulnerabilities at nuclear site are revealed

Ministers are under pressure to explain the actions of the government and regulators over cyber security at Europe’s most hazardous nuclear site after a Guardian investigation revealed disturbing vulnerabilities in its networks.

The shadow energy secretary, Ed Miliband, called on the government to urgently “provide assurances” about Sellafield, after the Guardian revealed it had been hacked by groups linked to Russia and China.

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Over 2,400 participants are linked to coal, oil and gas, four times more than attended last year's gathering.