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California carbon market observers recommend 55% emissions reduction by 2030, cost containment measures

Carbon Pulse - Thu, 2023-11-02 08:15
A small representative set of California residents called for the cap-and-trade allowance budget adjustment to achieve at least 55% emission reductions by 2030, alongside recommendations for cost containment measures echoed by stakeholders, according to public comments submitted to state regulator ARB.
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ICE announces amendments to California carbon contracts, additional US listings

Carbon Pulse - Thu, 2023-11-02 07:23
Data and market infrastructure provider Intercontinental Exchange (ICE) is making amendments to the California Carbon Allowance Advance Auction Clearing Price (ACA) futures contract and also adding new vintage futures and options contracts effective December, the bourse announced Wednesday.
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A monster eddy current is spinning into existence off the coast of Sydney. Will it bring a new marine heatwave?

The Conversation - Thu, 2023-11-02 05:24
Giant eddy currents in the sea spread heat. But if trapped in place, they can cause marine heatwaves deadly to sea life. And there’s a big one shaping up off Sydney right now. Moninya Roughan, Professor in Oceanography, UNSW Sydney Amandine Schaeffer, Senior lecturer, UNSW Sydney Junde Li, Postdoctoral research associate Shane Keating, Associate Professor, UNSW Sydney Licensed as Creative Commons – attribution, no derivatives.
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CIX’s nature carbon credit benchmark passes first external review, work continues in developing other contracts

Carbon Pulse - Thu, 2023-11-02 04:39
Singapore-based Climate Impact X has taken a step towards providing benchmarked indices for the voluntary carbon market by passing the first external audit of its Nature-X assessment, paving the way for the creation of a swaps market as it confirms adding another REDD project and consults on launching other contracts.
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Campaign launches fresh drive to persuade big emitters to adopt science-based targets

Carbon Pulse - Thu, 2023-11-02 03:38
FedEx, General Electric, and Rio Tinto are among companies targeted by a campaign launched Wednesday that aims to push the highest corporate emitters of greenhouse gases to adopt science-based targets in line with the Paris Agreement.
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Pennsylvania court declares RGGI an illegal tax, voids regulations

Carbon Pulse - Thu, 2023-11-02 03:26
A Pennsylvania court on Wednesday halted the state's plans to join the Regional Greenhouse Gas Initiative (RGGI), ruling that it constitutes an illegal tax in that the state does not have the authority to collect revenue through the cap-and-trade scheme.
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Crypto exchange Coinbase to delist Moss carbon credit altcoin over compliance concerns

Carbon Pulse - Thu, 2023-11-02 02:53
Major cryptocurrency exchange Coinbase will delist the Moss Carbon Credit (MCO2) altcoin on Nov. 14 due to asset-related and compliance concerns.
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High appetite but fundamental gaps in UK’s nature market structure, says industry coalition

Carbon Pulse - Thu, 2023-11-02 02:37
The UK will have a smorgasbord of emerging nature markets in forthcoming years, but concerns persist around the underlying integrity and market infrastructure, according to an industry coalition.
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Ocean carbon removal scales up as developer teams up with European oil major

Carbon Pulse - Thu, 2023-11-02 02:29
A major European oil and gas company is teaming up with a Californian ocean carbon removal startup to launch a larger-scale pilot plant for the emerging field of direct ocean capture (DOC) of CO2, with an eye to building commercial plants in key regions globally as the technology advances.
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Wallacea Trust adds peer review to methodology for biodiversity credits

Carbon Pulse - Thu, 2023-11-02 02:29
UK-headquartered non-profit Wallacea Trust has updated its methodology for measuring uplift in biodiversity credits with the inclusion of a peer review process to verify claims.
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Starfish ‘arms’ are actually extensions of their head, scientists say

The Guardian - Thu, 2023-11-02 02:00

The echinoderms more closely resemble disembodied heads than multi-limbed creatures, experts have discovered

Starfish may appear to have a plethora of limbs, but it turns out the creatures actually resemble something akin to a disembodied head.

Experts say it has long been a conundrum how starfish, sea urchins and other animals with a fivefold body plan, known as echinoderms, evolved from an ancestor with twofold symmetry – a body plan common today in animals including insects, molluscs and vertebrates.

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World Cup bid process makes a mockery of green pledges – it’s time for reform

The Guardian - Thu, 2023-11-02 02:00

Handling of the 2030 and 2034 tournaments undermines Fifa’s environmental commitments, but it doesn’t have to be like this

There has been a lot of criticism of Fifa’s plans to host the 2030 men’s World Cup across six countries (Spain, Portugal, Morocco, Argentina, Uruguay and Paraguay) and to relax the minimum number of existing stadiums required to host the 2034 tournament, a key decision that will inevitably lead to a successful Saudi Arabia bid. These have quite rightly raised eyebrows – climate has clearly not been at the heart of the decisions.

If fan travel makes up roughly 70% of football’s carbon footprint, how can Fifa plan to halve its emissions in the same year it hosts a tournament in three continents? And given that infrastructure is a big source of emissions around mega-events, what commitment is Fifa showing to the planet when it encourages more building in Saudi Arabia by reducing the minimum number of compliant existing stadiums from seven to four but keeping the final number of suitable stadiums at 14?

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How generous subsidies helped Australia to become leader in solar power

The Guardian - Thu, 2023-11-02 01:35

Households have continued to use state help that was first created more than a decade ago

For a brief period over several weekends this spring, the state of South Australia, which has a population of 1.8 million, did something no other place of a similar size can claim: generate enough energy from solar panels on the roofs of houses to meet virtually all its electricity needs.

This is a new phenomenon, but it has been coming for a while – since solar photovoltaic cells started to be installed at a rapid pace across Australia in the early 2010s. Roughly one in three Australian households, more than 3.6m homes, now generate electricity domestically. In South Australia, the most advanced state for rooftop solar, the proportion is nearly 50%.

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Canadian banking group agrees to buy 27.5k DAC removal credits from 1PointFive

Carbon Pulse - Thu, 2023-11-02 01:01
A Canadian banking group has agreed to purchase 27,500 tonnes of CO2 removal credits from Occidental-owned 1PointFive’s first direct air capture DAC plant being built in Texas.
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Jim Ratcliffe, Manchester United and the myth of the spotless billionaire

The Guardian - Thu, 2023-11-02 00:39

In an era when clubs have become the playthings of billionaires, fans are left pondering the question: how do you prefer your sportswashing?

When Qatar’s Sheikh Jassim bin Hamad al-Thani withdrew from the race to buy Manchester United last month, you could almost hear the sighs of relief emanating from the press department on Sir Matt Busby Way.

A Qatari takeover, despite the appeal and simplicity of Sheikh Jassim’s all-cash offer, would be sure to face fierce criticism – not only on the basis of Qatar’s enduringly appalling human rights record, but as further proof of oil money’s deepening incursion into global soccer’s most sacred places. With this ethical conundrum out of the way, the path is now clear for a much easier publicity sell: Manchester United looks set to fall into the care of a footballing humanitarian who presents the unique advantage of being both obscenely rich and unimpeachably English. Finally, the self-styled biggest club on the planet will be yanked away from the pesky Americans, snatched from the slick hands of the Gulf, and come to nestle at the top of Sir Jim Ratcliffe’s corporate crown – pending a final buyout of the Glazers remaining 75% stake. A victory, at last, for clean money, good money, English money.

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Extinction Rebellion co-founder guilty of breaking window at HS2 protest

The Guardian - Thu, 2023-11-02 00:06

Dr Gail Bradbrook found guilty of criminal damage to Department for Transport building in 2019

The co-founder of Extinction Rebellion has been found guilty of criminal damage for breaking the window of a government department in a protest against the environmental impact of HS2.

Dr Gail Bradbrook was convicted on Wednesday by a jury after 45 minutes, after a two-day trial at Isleworth crown court.

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Company directors could be held liable and fined over unforeseen nature-related impacts and risks

The Guardian - Thu, 2023-11-02 00:00

Failure to identify commercial risks could constitute a breach of duty of care and diligence, according to new legal opinion

Company directors who fail to foresee the impacts their companies have on nature, and the commercial risks those effects pose, can be held personally liable and fined, according to lawyers.

A new legal opinion advises that company directors need to identify anywhere their business is dependent on or has an impact on nature and consider the potential risks this poses to the company.

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The 2023 BirdLife Australia photography awards – in pictures

The Guardian - Thu, 2023-11-02 00:00

Mid-air fights, jabbering gang-gangs and villainous magpies are some of the 68 finalists from more than 6,000 entries in this year’s competition, with the winner to be announced in November. All proceeds go towards bird conservation across the country

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Euro Markets: Midday Update

Carbon Pulse - Wed, 2023-11-01 23:51
European carbon prices briefly rallied on Wednesday after data released by ICE and EEX showed investment funds continued to amass short positions last week, triggering a burst of buying that pushed EUAs to a key technical and psychological level.
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Ørsted cancels two US offshore windfarm projects at £3.3bn cost

The Guardian - Wed, 2023-11-01 23:30

Danish company’s CEO cites escalating costs in global offshore wind industry as shares fall

Denmark’s Ørsted has cancelled two big offshore windfarm projects in the US at a cost of more than £3bn amid surging costs facing the global wind industry.

Shares in the world’s biggest wind power company fell 20% on Wednesday after it told investors it had no choice but to take a 28.4bn Danish kroner (£3.3bn) impairment charge and stop the developments off the New Jersey coast.

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