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Electric cookstoves will need a carbon credit price of $30-50 to enable the fledgling market to thrive, according to one of the leading manufacturers and project developers in the market that is set to open a new factory in Nigeria next month and is planning to sell commercially in the future.

Governments failing to cut emissions fast enough to meet Paris agreement goals and avoid disaster, major report says

• Analysis: A chasm laid bare

Governments are failing to cut greenhouse gas emissions fast enough to meet the goals of the Paris agreement and to stave off climate disaster, a major report by the UN has found.

Meeting the goals will require “phasing out all unabated fossil fuels”, the report says, in an acknowledgment that some oil-producing countries may find hard to take.

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The Q3 RGGI cap-and-trade auction cleared just shy of its all-time record settlement and in-line with broad market expectations near the secondary market values, although compliance participation remained subdued, according to results published Friday.

Stakeholders have welcomed the significant progress, notably on draft recommendations for removals, made by the UN body responsible for shaping the carbon crediting mechanism under Article 6 of the Paris Agreement ahead of a crunch meeting next week, while also highlighting the pressure of using the limited remaining time to finalise key aspects of the guidance, ahead of year-end negotiations at COP28.

A Biodiversity Risk Assessment (BioRA) tool has been launched by technology company Ceven that is free to use at its basic level.

Green development and climate finance will be one of the priorities of this weekend's G20 leaders' summit, according to G20 Sherpa Amitabh Kant ahead of the two-day meeting in New Delhi this weekend despite climate change goals emerging as one of the major stumbling blocks. 

We are burning a lot more than just effigies

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Mitsui OSK Lines (MOL) and Shell Marine Products Singapore have agreed to collaborate on maritime decarbonisation efforts, including advancing cleaner fuel-related measures that could have carbon market implications.

While the 2015 Paris Agreement has inspired significant progress in response to climate change, the world is not on track to meet the pact’s long-term goals, according to the UN’s first-ever stocktake of global efforts to tackle the crisis, released Friday.

A review of action on climate since the Paris agreement calls for an end to fossil fuels without carbon capture.

A senior leader at Shell on Friday appeared to reinforce the company’s support for purchasing nature-based carbon credits, despite the oil major having dropped public targets for its credit-buying programme.

European carbon prices advanced moderately in Friday morning trade, threatening to snap a run of six successive daily losses, as the market was supported by a sharp rise in gas prices after workers at two Australian LNG facilities began strike action.

A London-based commercial bank with significant Asia presence is growing its in-house expertise on climate tech in order to identify the early-stage companies with potential for the biggest climate and commercial impact, a conference was told this week.

China’s national carbon markets saw stable prices over the past week with a surge in trading volume as the ETS compliance deadline is approaching, with experts saying that recent policy change to introduce allowance vintages could shape corporate preferences.

Oil company is latest firm to act amid indications that carbon credits do nothing to mitigate global heating

Shell has become the latest large company to pull back from carbon offsets amid concerns many have no environmental impact, it has emerged, as the Carbon Trust discontinues its “carbon neutral” labelling scheme based on offsetting.

The FTSE 100 oil company, one of the leading proponents of carbon offsetting, abandoned targets to invest up to $100m a year in carbon credit schemes and purchase 120m nature offsets a year by 2030 as part of a broader watering down of its climate ambitions in June, the oil major has confirmed.

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The US Open semi-final between Coco Gauff and Karolína Muchová was interrupted by climate protesters early in the second set, with one of the protesters glueing their feet to the floor of the stands at Arthur Ashe stadium. Gauff was a set up and holding serve to open the second when a disturbance broke out in the upper reaches of the stadium and shouting disrupted play. As the players looked into the stands, security staff went into the section around the disturbance. More than a dozen law enforcement officers arrived on the scene and three protesters were removed. Another, who had been handcuffed by police but was affixed to the floor, caused further delay to the resumption of the match as medics attempted to extricate the protester safely

• US Open semi-final interrupted as climate protester glues feet to floor in stands

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Legislation to underpin the national emissions trading scheme and other climate-related programmes have been placed in the "least important" category to deal with by Chinese officials, leaving the world's biggest carbon market unfounded in law for another year as lawmakers prioritise energy security and other issues.

The inaugural Africa Climate Summit was held in Nairobi, Kenya, this week, drawing delegates from across the continent, Europe and the US as well as climate campaigners, who filled the streets outside the convention centre

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Europe-wide formation is partly responsible for Storm Daniel, while the north of the continent has high temperatures

An Omega block has been in place over Europe this week, leading to some extreme weather for many. An Omega block is a synoptic setup consisting of a high-pressure region sandwiched between two low-pressure regions, creating a shape resembling the Greek letter omega.

Storm Daniel developed over the Ionian Sea partly due to this setup, causing devastating flooding across central and eastern Greece. The region’s warm seas at this time of year also helped produce the moisture needed for this storm.

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One of Japan's largest banks has begun intermediary services for the creation and trading of domestically issued J-Credits by partnering with an offset provider, it announced Friday.