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European Commission President Ursula Von der Leyen on Thursday highlighted the key role the voluntary carbon market can play in accelerating the roll-out of global carbon pricing, while emphasising that the market needs common standards to improve trust in the credibility of projects on the part of investors.

European carbon prices held on to early gains as December began, with the market supported by the first premium in a daily auction for more than two weeks, while energy prices rose for a second day as renewables output was below typical levels and temperatures remain low.

An industry-led climate initiative will support India to mobilise $6.5 billion for low-carbon and climate-resilient development, it announced at COP28 on Friday.

Designation means the bathing waters carry risk of sickness, as government is accused of ‘gross negligence’

• UK politics live – latest updates

The three rivers designated for swimming in England have all been given “poor” status in newly published government water quality figures

Data released by the Environment Agency on Friday showed that during the 2023 bathing season 96% of bathing waters in England met minimum standards, with 90% of bathing waters in England being rated as “good” or “excellent”. This was a decline from the previous year’s statistics which showed that 97% met the minimum standard of “sufficient”, while 93% met the highest standards of good and excellent.

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Exclusive: Move to categorise PFOA as linked to cancer in humans by World Health Organization ups pressure on UK government

A substance found in hundreds of drinking water samples across England has been categorised as carcinogenic by the World Health Organization (WHO).

The move will increase pressure on the UK government to take action on “forever chemicals”.

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Australia has a truly remarkable amount of private wealth under management thanks to its mandated pension scheme, but more of this money should be invested by the big superannuation funds into renewable and clean energy, a report said Friday.

Selling carbon credits under Article 6 of the Paris Agreement provides host countries with greater transparency over their climate assets via a more procedural and formal process, a senior member of Zambia's government said on the sidelines of COP28.

A wide ranging report on the opportunities for decarbonisation in Australia by its peak scientific body released Friday found the mining sector could be one of the earlier cabs off the rank.

The first pilot phase of the Turkish ETS will likely start in 2025 and run for two years, initially applying only to installations with annual emissions of more than 500,000 tonnes of CO2 in high emitting sectors, a senior Turkish government official told Carbon Pulse on the sidelines of COP28 on Friday.

Prices in China’s CO2 allowance market over the past week continued to decrease on relatively low volumes, while the Shanghai pilot market has reached full compliance after the latest government auction Thursday.

UK monarch addresses summit as British PM among world leaders arriving in the UAE for climate talks

My colleague Nina Lakhani has more on yesterday’s loss and damage agreement.

As the second day gets under way, the president of the G77 plus China group – the bloc of 135 developing countries which played a key role in yesterday’s historic resolution on operationalising the loss and damage fund – said the decision sent a clear political message.

“It was a milestone in terms of creating a positive mood for the very, very complex process on the GST [global stock take] that we had ahead of us now. But the fund needs to be filled up. The pledges announced were a welcome sign, but they were just pledges and must materialise as soon as possible. And we expect much, much more because of the impact of loss and damage in developing countries,” said ambassador Pedro Pedroso of Cuba.

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It's Day 2 of COP28 and world leaders are descending on Expo City in Dubai, UAE. 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).

Certifier Gold Standard on Friday announced a new work programme to support government efforts to develop carbon market initiatives and deepen alignment between international standards and emerging national frameworks.

The best of this week’s wildlife photographs from around the world

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The federal government has laid out its projections for Australian Carbon Credit Units and Safeguard Mechanism Credits (SMCs), expecting demand for ACCUs to peak in 2031.

Rishi Sunak’s attendance comes after he scaled back pledges to help the UK reach net zero by 2050

• Cop28 live – latest updates

King Charles will give a “call to arms” in his Cop28 climate summit opening statement, Rishi Sunak has said, expressing delight over the monarch’s record championing the issue.

Sunak said it was a “proud moment” for him to witness Charles deliver his speech on Friday, which “speaks volumes about our type of leadership as a country”.

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Discussions around Australia’s carbon market is stuck in the perspective of it being a voluntary, rather than a compliance scheme, according to a fund partner, saying that the market must reorient its thinking if it is to succeed.

The biggest solar project entirely dedicated to a green hydrogen production centre about to begin construction.

The post Biggest solar farm contracted for green hydrogen to begin construction appeared first on RenewEconomy.

The Australian government is making moves in the Senate to get a report into its Nature Repair Market legislation finalised on Monday, some five months ahead of its official deadline.

Giant battery in Melbourne partly funded by SEC is looking at adding 12-hour storage using flow battery technologies for its next stage.

The post Giant Melbourne battery may triple in size with plans for 12-hour flow battery storage appeared first on RenewEconomy.