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Climate Impact X (CIX) has temporarily suspended delivery of carbon credits from the Southern Cardamom REDD project (VCS 1748) for its nature-based benchmark, Nature X, with immediate effect, after a review found the project failed to meet eligibility criteria.

A framework to help asset managers and asset owners set targets for nature has been launched by the Finance for Biodiversity Foundation (FfB).

The US and other countries are implementing initiatives that could undermine efforts to introduce more robust and transparent standards for international carbon markets, risking missing the Paris Agreement’s goals by embracing existing but flawed approaches, according to a leaked EU document.

Just like oil and gas businesses, and petro-states, carbon-intensive industries including meat will fight to keep on polluting

Agriculture companies and lobbyists are among those who arrived in the United Arab Emirates for Cop28 determined to resist pressure on them to transform their businesses. Documents show that JBS, the world’s biggest meat company, and allies including the Global Dairy Platform, planned to make arguments in favour of livestock farming with “full force”. While the sincerity of fossil-fuel businesses’ commitment to a green transition has long been doubted, they are not the only energy-intensive businesses to approach Cop28 as an opportunity to promote their activities – rather than a threat.

While the ostensible purpose is to safeguard the planet for the future, the fear is that the Cop process has been captured by the short-term interests of carbon-emitting industries that will do anything to protect their wealth. This year’s gathering is hosted by Sultan Al Jaber, the chief executive of the UAE’s national oil company.

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The World Bank plans to conduct an initial auction of carbon credits generated via select Forest Carbon Partnership Facility (FCPF) countries by the end of Q1 next year, as it pursues a scaling up of the programme to a value of $2.5 billion and considers other sectors for future credit generation.

Vietnam announced its plan to mobilise resources towards implementing a Just Energy Transition Partnership (JETP) on Friday at COP28, advancing the multi-faceted clean energy funding agreement struck over a year ago.

On Friday, 35 nations and the EU formally launched the “Climate Club” of ambitious countries at COP28 in Dubai, which will focus on decarbonisation of industrial sectors.

Fewer swimming spots are rated "excellent" and more rated "poor" by the environment watchdog.

In a ruling on Thursday, the Brussels Court of Appeal said the Belgian, Flemish, and Brussels governments must reduce greenhouse gas emissions by 55% by the end of the decade, in the latest example of a growing trend of climate litigation cases against governments.

Demand for biodiversity credits could reach $180 billion annually by 2050 if a radical transformation in valuing nature happens, the World Economic Forum (WEF) has said.

Rishi Sunak has defended watering down his climate policies as he insisted the UK was still 'leading the charge' in tackling the climate crisis at the Cop28 summit in Dubai. Climate politics is 'close to breaking point', he said, adding: 'I shift a date to be in line with almost every other country and it’s treated like it’s a rather extreme measure.' The UK prime minister also said he did not face any criticism from the world leaders he met for delaying a UK ban on selling new petrol and diesel vehicles

• Sunak says not a single leader at Cop28 has criticised UK’s petrol car ban delay

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Four environmental groups have filed an appeal against a Pennsylvania lower court's decision voiding the state's participation in the US Northeast carbon market, following a similar appeal launched by the governor a week prior.

Japan will stop constructing new domestic coal-fired power plants that do not take measures to reduce emissions, Prime Minister Fumio Kishida said on Friday.

Prime minister defends Britain’s climate record at UN summit and urges countries to decarbonise

• UK politics live – latest updates
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Rishi Sunak says he did not face any criticism from the world leaders he met for delaying a UK ban on selling new petrol and diesel vehicles as he repeated his defence of the UK’s climate record.

Before and during his swift visit to Dubai for the Cop28 climate conference, the prime minister had been focusing on urging other countries to do all they could to decarbonise, while celebrating Britain’s achievements.

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Climate measures financed by green bonds launched by the EU to stimulate growth following the Covid pandemic are capable of cutting 44 million tonnes of GHG emissions a year, equivalent to 1.2% of the bloc's total emissions currently, a report published by the European Commission on Friday has revealed.

Labour leader says ‘things will be done differently’ if he wins the next election

• Cop28 live – latest updates

Keir Starmer has accused Rishi Sunak of “shrinking and retreating” from showcasing leadership on the global stage at Cop28 and over the climate crisis.

The Labour leader said the transition to net zero could benefit millions of people in the UK who are struggling with the cost of living crisis. But instead, the “smallness” of Sunak’s politics was affecting his ability to show a “seriousness and a want to lead” on the issue.

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As Cop28 gets under way, it is vital that corporations and richer nations invest in the global south

• Sultan Ahmed Al Jaber is president of the Cop28 United Nations climate change conference and William Ruto is president of Kenya

Without urgent action to bolster green jobs in developing economies, the collective action needed to win the fight against climate change will remain elusive. Developing nations face a number of socioeconomic challenges, forcing them to tighten spending. More people worldwide are living in hunger, and 2 billion people lack access to safely managed drinking water at home. More than 60% of low-income countries are in, or at high risk of, debt distress, while access to capital is limited and the cost of borrowing prohibitive. This leaves minimal room for the debt creation and spending needed to fund climate action.

Green industrialisation presents an opportunity for developing nations to achieve socioeconomic transformation by combining environmental stewardship and economic progress. It offers a pathway for sustainable and inclusive growth and can address these structural challenges by improving access to energy, industrialisation and diversification, and growing employment.

Sultan Ahmed Al Jaber is president of the Cop28 United Nations climate change conference

William Ruto is president of Kenya

Cop28: Can fossil fuel companies transition to clean energy?
On Tuesday 5 December, 8pm-9.15pm GMT, join Damian Carrington, Christiana Figueres, Tessa Khan and Mike Coffin for a livestreamed discussion on whether fossil fuel companies can transition to clean energy. Book tickets here or at theguardian.live

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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.