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Speculators take advantage of price rout in CCAs

Carbon Pulse - Sat, 2024-06-08 08:56
Speculators were the only group buying California Carbon Allowances (CCAs), while traders reduced net length across the rest of North American carbon markets as prices in the secondary market retraced, according to weekly data from the US Commodity Futures Trading Commission (CFTC).
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UK 2023 verified emissions drop 12.5%, driven by steep fall from power sector

Carbon Pulse - Sat, 2024-06-08 07:08
Verified emissions in the UK ETS fell by 12.5% in 2023, the government announced late Friday, with the decrease in output driven by a steep fall in emissions from power generation, even as output from aviation rose for the third successive year.
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Emissions due to Gaza war keep surpassing those of tens of countries

Carbon Pulse - Sat, 2024-06-08 05:05
The emissions from the war in Gaza are still higher than the annual GHG output of tens of countries, according to a study published Friday.
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Flood alerts at record level in Great Britain in first four months of 2024

The Guardian - Sat, 2024-06-08 03:00

Environment Agency figures show an average of 40 warnings and alerts a day were issued during period

A record number of flood alerts and warnings were issued in Great Britain in the first four months of 2024, averaging 40 a day, according to analysis of Environment Agency figures.

Round Our Way, a not-for-profit organisation supporting people in the UK affected by the climate crisis, obtained data from the agency under the Freedom of Information Act on the number of warnings and alerts issued across the country since records began in 2006.

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$150 per tonne is the ‘ultimate’ price that direct air capture can achieve, says industry CEO

Carbon Pulse - Sat, 2024-06-08 02:46
A price between $150 and $200 per tonne should be the “ultimate” cost goal for the direct air capture (DAC) industry, according to the CEO of a large developer.
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ANALYSIS: Is undoing the European Green Deal actually feasible?

Carbon Pulse - Sat, 2024-06-08 02:28
During the European Parliament election campaign, some candidates from conservative and far-right groups have vowed to dismantle the Green Deal and related EU climate legislation. However, undoing five years of legislative work won't be that simple, analysts say.
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BRIEFING: Mood calm in Bonn as Article 6 negotiators appear to have put Dubai chaos behind them

Carbon Pulse - Sat, 2024-06-08 02:06
Article 6 negotiators look to be making progress on the technicalities of international carbon trade rules during a crucial UN climate conference in Bonn this week and next, with observers describing the mood in talks as constructive and certain factions appearing open to compromise on key sticking points.
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FEATURE: Outlook rosy for carbon investment with climate tech seen resilient to macro headwinds

Carbon Pulse - Sat, 2024-06-08 01:15
Investors and startups in the carbon and clean tech have offered an optimistic near-term outlook for funding in the sector, despite persistent macroeconomic challenges that have hindered global venture capital flows last year.
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Heatwave grips US south-west with record highs: ‘Hotter than we’re used to’

The Guardian - Sat, 2024-06-08 01:06

Roughly half of Arizona and Nevada under excessive heat alert as temperatures soar past 110F in some states

The first heatwave of the year is expected to maintain its grip on the US south-west for at least another day through Friday, after records tumbled across the region with temperatures soaring past 110F (43C) from California to Arizona.

Although the official start of summer is still two weeks away, roughly half of Arizona and Nevada were under an excessive heat alert, which the National Weather Service extended until Friday evening. The alert was extended through Saturday in Las Vegas, where it’s never been hotter this early in the year.

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RGGI sets new record settlement at Q2 auction, beyond market expectations

Carbon Pulse - Sat, 2024-06-08 00:41
The Q2 RGGI auction cleared at a new all-time high beyond market expectations, with compliance winning more than a two-thirds share of permits offered in the sale, results posted Friday showed.
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MSCI launches biodiversity footprinting tool

Carbon Pulse - Sat, 2024-06-08 00:29
A tool for investors to measure the biodiversity impacts of investments, initially using the Potentially Disappeared Fraction of species metric (PDF), has been launched by New York-based investment research company MSCI.
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EU, UK falling far behind clean hydrogen targets for 2030, study finds

Carbon Pulse - Fri, 2024-06-07 23:45
Current commitments for low-carbon hydrogen production in the EU and UK are nowhere near enough to hit their stated 2030 goals, a think-tank has warned.
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Voluntary carbon credit rating agencies find fault in CCP-tagged credits

Carbon Pulse - Fri, 2024-06-07 23:38
Voluntary carbon market rating agencies have called into question whether some credits deemed eligible to be tagged with the Core Carbon Principles (CCP) high-integrity label by the ICVCM can actually deliver a tonne of CO2 avoidance or removal, a key principle of the cross-stakeholder stakeholder initiative.
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DATA DIVE: The EU’s achievements on climate and energy in 2019-2024

Carbon Pulse - Fri, 2024-06-07 23:21
Despite unexpected external events – from Covid-19 to the war in Ukraine – the EU stayed the course on climate action during the past five years, delivering steeper-than-ever reductions in CO2 emisssions while ramping up the deployment of renewables and other clean technologies to meet its climate goals.
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UK falling 18 years behind on wind power targets, due to lagging manufacturing

Carbon Pulse - Fri, 2024-06-07 23:10
The UK is on track to miss its 2030 target for offshore wind power generation by 18 years and needs to triple its installation rate in order to catch up, according to research published on Friday.
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UK’s CBAM likely to push up cost of imported products made with electricity -study

Carbon Pulse - Fri, 2024-06-07 22:12
UK imports of products made with electricity - such as aluminium and steel - could become more expensive when the country introduces its carbon border adjustment mechanism, even though its coverage is limited to indirect power emissions rather than direct power imports, according to new analysis by the London Stock Exchange Group (LSEG).
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INTERVIEW: Biodiversity space isn’t ready for AI due to data gaps, expert says

Carbon Pulse - Fri, 2024-06-07 22:03
The biodiversity data gap must be closed before we start talking about using artificial intelligence (AI) in conservation work, as we don't have the infrastructure for training the machine-learning models yet, a data expert told Carbon Pulse.
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Euro Markets: Midday Update

Carbon Pulse - Fri, 2024-06-07 21:25
European carbon prices settled into a narrow trading range on Friday morning as activity across all markets appeared to diminish, with EUAs moving between the key June call options strike prices and expected to continue to do so in the short term.
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Nature groups launch legal bid over wildlife loss

BBC - Fri, 2024-06-07 20:46
Countryside and wildlife conservation groups want a judicial review of government action on nature loss.
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