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The future of the Kyoto-era Clean Development Mechanism (CDM) is to be discussed by governments at the upcoming COP28 climate summit in Dubai, a UN spokesperson told Carbon Pulse on Wednesday while confirming that it will still be possible to transfer and cancel CDM credits beyond a looming deadline, clearing up a point of confusion among stakeholders.

As lower costs and less need for government subsidies are sparking rapid growth in the offshore wind power sector, biodiversity considerations are likely to become decisive factors in the project selection process, according to industry stakeholders.

Labor is struggling to get its story straight on why it is helping fund a major expansion of the fossil fuel sector in the NT

Events in Canberra this week point to a significant political battleground for the next federal election.

More than 80 doctors converged on the capital to protest against government support for fossil fuel expansion in the Northern Territory. It might not sound like that many people, but it’s representative of a bigger movement backed by several crossbenchers, including David Pocock and Monique Ryan.

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Scientists say Takakia, a 390m-year-old moss found in Himalayas, is at risk despite its ability to adapt to extreme weather

The world’s oldest moss, found in the Himalayas, may not be able to survive climate breakdown, scientists have said.

Takakia, which has been growing for 390m years, is one of the fastest-evolving species ever found, but that may not be enough to save it, the researchers warned.

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Countries across the globe are facing a range of extreme weather events. In Germany, snowploughs were deployed in the middle of summer to shift ice from roads after a hailstorm. Severe flooding has affected parts of Europe including Sweden and Slovenia, with hundreds of houses submerged. Human-caused climate change is supercharging extreme weather across the world, driving more frequent and more deadly disasters, from heatwaves to floods to wildfires

• July was world’s hottest month on record, climate scientists confirm

• Extreme weather

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One of Canada’s largest financial institutions has hired a carbon trader from a competitor after recent turnover on the environmental markets desk, Carbon Pulse has learned.

A carbon credit rating agency has partnered with Brazilian scientists to improve its assessments of the South American country’s many forestry projects.

Eight countries home to the Amazon rainforest have agreed to advance innovative financing options to help protect the massive territory, according to a joint declaration issued late on Tuesday that failed to include a pledge to end deforestation by 2030.  

European carbon prices rose sharply mid-morning on Wednesday after weekly Commitment of Traders data showed that investment funds had turned a net long position into net short, surprising traders and triggering a surge of buying.

For all their talk about green energy and their windfall profits, the world's 40 biggest oil companies accounted for just 1 pct of global renewable additions in 2022.

The post Despite their big green talk, oil majors added just 1% of global renewables in 2022 appeared first on RenewEconomy.

BlackRock launches $NZ2 billion fund to support wind, solar and storage and help New Zealand accelerate its push towards 100 per cent renewables.

The post Blackrock launches multi billion fund to help drive NZ to 100% renewables appeared first on RenewEconomy.

Drone footage shows Russia's coldest city, Yakutsk, blanketed by smog as wildfires continue to burn in the region. Local residents explained how they 'annot open the windows at home or in the car to deal with the 'stuffiness' as it only exacerbates the problem. Hundreds of firefighters and dozens of vehicles have been deployed to tackle the wildfires raging in the area

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South Korea on Wednesday sold fewer than 40% of the allowances on offer in its monthly CO2 permit auction amid dwindling buy interest, with the clearing price crashing to a new all-time low.

Eight presidents including Brazil leader Lula fail to commit to end deforestation by 2030

Amazon leaders have called on rich countries to help them develop a Marshall-style plan to protect the world’s largest rainforest – but stopped short of committing to zero deforestation across the biome by 2030 amid divisions over oil extraction.

In a joint declaration at the end of a two-day summit in the Brazilian city of Belém on Wednesday, the eight South American countries that are home to the Amazon rainforest said ensuring its survival could not be solely up to them, as resources from the forest were consumed globally.

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A steelmaker headquartered in the EU has signalled its outlook for production in the region is the weakest across its global portfolio, joining other members of European heavy industry in a pessimistic economic view for the continent for the remainder of 2023.

A group of climate activists has sued one of Australia’s biggest energy companies over what it claims to be greenwashing, as the firm offers “carbon neutral” electricity and gas to customers based on the purchase of carbon credits.

More than 300,000 homes and businesses in the eastern US were without power after storms passed over the region, killing at least two people and disrupting air travel. The National Weather Service highlighted the tornado risk for more than 29.5 million people across a region spanning Alabama to western New York state

• Two dead and hundreds of thousands without power as storm hits eastern US

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The price of Australian Carbon Credit Units (ACCUs) jumped 5% on Wednesday as traders were made to pay higher in order to unlock supply.

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The head of a global climate investment and advisory firm has been appointed chair of Australia’s A$15 billion ($9.8 bln) National Reconstruction Fund.