Feed aggregator

A monthly report by a carbon market analysis firm revealed higher forecasts for California Carbon Allowance (CCA) prices in December and 2024, subject to changes in price triggers, with Washington Carbon Allowance (WCA) values also expected to rise, while the outlook for RGGI Allowances (RGAs) saw prices converging towards the Cost Containment Reserve (CCR) trigger in the later part of 2024.

We can’t prevent continued global warming without reaching net zero carbon dioxide emissions. New climate simulations show what might happen when we get there. Liam Cassidy, PhD Candidate, The University of Melbourne Andrew King, Senior Lecturer in Climate Science, The University of Melbourne Josephine Brown, Senior Lecturer, The University of Melbourne Tilo Ziehn, Principal Research Scientist, CSIRO Licensed as Creative Commons – attribution, no derivatives.

The leaders of major multilateral development banks (MDBs) pledged to scale up climate finance and development funding through a new approach structured around country sector platforms rather than  individual projects, at an UNFCCC hosted discussion on Monday at COP28 in Dubai.

Motion will force Tory MPs to say whether bonuses can still be paid despite poor state of English and Welsh waterways

Labour aims to embarrass the government by forcing Conservative MPs to vote on whether Ofwat should have the power to ban water bosses’ bonuses until they clean up waterways in England and Wales.

Water suppliers have been repeatedly criticised for paying out large sums to bosses who have presided over leaky infrastructure and sewage dumping. Senior executives from five of the 11 water companies that deal with sewage took bonuses this year, while the rest declined after public outrage.

Continue reading...

Asian cement and steel companies may face severe financial challenges in the next decade unless they commit to decarbonisation, according to a new academic study.

RGGI allowance (RGA) values seesawed over the week amid skyrocketing volume ahead of the coming Q4 auction, as an exchange traded fund (ETF) sold off some of its holdings and the front-month contract went into delivery.

New Australian developer founded by ex Neoen staff unveils plans for what would be the biggest wind farm in NSW in the state's south-west.

The post New Australian developer unveils plan for what would be biggest wind farm in NSW appeared first on RenewEconomy.

Canada announced a set of draft regulations on the sidelines of COP28 in Dubai on Monday to tackle methane emissions from its oil and gas sector, aiming to align with the government's commitment as a signatory of the Global Methane Pledge to curb output of the potent warming gas.

A Florida-headquartered company that plugs abandoned oil and gas wells to reduce methane emissions and generate carbon credits has replaced its CEO and has made an acquisition through a subsidiary.

The European Commission said on Monday that it plans to monitor the potential for carbon leakage from the extension of the bloc’s ETS to the maritime sector, aiming to ease the concerns of several member states who urged the bloc to delay the inclusion of international shipping.

A recently signed Australia-Tuvalu citizenship agreement offers people displaced by climate change a chance to ‘move with dignity’. But staying with dignity has to be an option too. Dalila Gharbaoui, Postdoctoral Climate Crisis Research Fellow, University of Canterbury Licensed as Creative Commons – attribution, no derivatives.

The US Commodity Futures Trading Commission (CFTC) published on Monday a set of principles for voluntary carbon credit derivatives contracts for trade on CFTC-regulated exchanges, a document flagged earlier in the day by the CFTC's chairperson at COP28 in Dubai.

Carbon credit trade remained brisk in the voluntary market in the last week of November amid end of year covering, although the REDD sector continued to cast a shadow over the brighter future promised by the headlines emerging from COP28 in sunny Dubai.

On the heels of a declaration by countries seeking to triple nuclear energy capacity, a group of non-profit policy advocacies launched a report on Monday on the sidelines of COP28 in Dubai with guidelines for the development of new international initiatives for the sector.

The Cop28 president, Sultan Al Jaber, held a surprise press conference at which he said comments he made about the phasing out of fossil fuels were 'misrepresented'. The Guardian reported how Jaber had remarked that there was 'no scientific evidence' indicating a phase-out of fossil fuels was needed to restrict global heating to 1.5C. Jaber, who is CEO of the UAE's state oil company Adnoc, defended the comments he made during a virtual meeting on 21 November with the former Irish president and UN climate convoy Mary Robinson. Jaber said: 'Let’s just clarify where I stand on the science … I honestly think there is some confusion out there and misrepresentation.'

• Cop28 live – latest updates

• Cop28 president forced into defence of fossil fuel phaseout claims

Continue reading...

A tech company inked a deal with the Democratic Republic of the Congo (DRC) on Monday to invest $40 million in the measurement and valuation of the country's natural assets for potential carbon and biodiversity crediting.

Continue reading...

Demand for Australian Carbon Credit Units (ACCUs) is likely to rise as more sectors of Australia’s economy are subject to decarbonisation policies, market observers told a panel discussion at COP28 in Dubai.

A clash over carbon removals at COP28 is threatening to stall progress on developing the UN crediting mechanism, as some country negotiators wish to reopen talks over a key set of recommendations agreed ahead of the summit, which would could see a year of work "wasted", according to multiple sources.

Climate events such as the annual UN summit are moving rapidly towards becoming a place to debate issues with international trade negotiations, a banker told a panel discussion at COP28.