Feed aggregator

*PREMIUM LISTING - With the rapid growth in carbon markets driving a new wave of project development, Verra is seeking a Senior Program Officer or Program Officer to join the Climate Policy and Strategy Team within the Legal, Policy and Markets Department.

Japanese electronics giant Panasonic will trial an internal carbon pricing system in fiscal 2024 that targets scope 3 emissions, it announced Friday.

Speculators significantly reduced their net holdings of California Carbon Allowances (CCAs) this week, while producers built length in the current vintage WCI contract and picked up RGGI Allowances (RGAs), data from the US Commodity Futures Trading Commission (CFTC) showed Friday.

Washington state will make only one-eighteenth of its Allowance Price Containment Reserve (APCR) permits available at the cost containment mechanism’s first sale in August, the Department of Ecology (ECY) announced Friday afternoon, sending secondary market prices soaring to the reserve's Tier 2 price.

Just one EU member state made adjustments to its free allocation of 2023 ETS carbon permits over the past fortnight, according to data released late Friday.

State-led public investment is needed to repair a decade of cuts. Labour should say so, not cleave to failed orthodoxies

The gap between the political narrative and life as experienced by the average voter is widening dramatically. The United Kingdom faces serious economic, environmental and social crises that will deepen without shifts in policy. Yet there is little sense of impending doom among the country’s politicians.

A decade of upheaval has produced not radical change, but a renewal of a failed consensus. This suits the Conservative party, which, after 13 years in power, offers the dead weight of bankrupt intellectual habits. However, Labour’s U-turn over one of its rare transformational policies, to spend £28bn a year from day one of being in office on green investment, leaves it looking pusillanimous and complacent about its poll lead.

Continue reading...

Ghana has opened talks with South Korea to negotiate a bilateral carbon trade deal, an official from the African nation said on Friday as the government continues to lead the field in leveraging the Article 6.2 mechanism of the Paris Agreement.

The Q2 RGGI cap-and-trade auction cleared below $13 for the third consecutive allowance sale against broad market expectations as compliance participation waned, according to results published Friday.

With the Empire State Building and the Lincoln Memorial blotted out, the US is experiencing the climate catastrophe first-hand

The unnerving sight of New York City’s skies turning a dystopian orange from wildfire smoke is just the latest in a barrage of recent distress signals that life in the US is starting to fray under the relentless pressure of the climate crisis, experts have warned.

On Wednesday, New York held the dubious title of having the worst air quality in the world, with Detroit in second place, as plumes of smoke from hundreds of fires in Ontario and Quebec were carried south by a stiff breeze.

Continue reading...

A rating agency has downgraded its score for credits from a wind power project in Brazil while a biomass project in the country has been placed on watch for review.

Global progress on climate change continues to stutter as a key two-week UN summit reaches its halfway point with few signs of progress on Friday, as an academic analysis of national plans showed that almost none of the highly polluting countries have a credible trajectory towards net zero emissions.

The Glasgow Financial Alliance for Net Zero (GFANZ) coalition still has an important role to assume in meeting international climate targets, experts have said, despite an exodus of insurance firms from one of its sub-groups that has led some to question the effectiveness of such industry initiatives.

The argument that markets will react badly to borrowing doesn’t wash – Rachel Reeves has to be open about using taxes

• John McDonnell was shadow chancellor from 2015 to 2020

Today, Rachel Reeves announced that she is delaying plans to borrow £28bn a year for a green prosperity fund under a Labour government. There may be some influential people in the Labour party who never supported the plan in the first place – maybe because it looked so much like the 2019 manifesto. And now, perhaps as a result, we’re seeing any excuse being used to undermine it.

The argument being put forward is that the bond markets will react to Labour’s borrowing in the same way they responded to Liz Truss’s fantasy budget. This would make the necessary borrowing too expensive to deal with, and anyway, it’s impractical to spend on that scale in the early years of a government.

John McDonnell has been the Labour MP for Hayes and Harlington since 1997. He was shadow chancellor from 2015 to 2020

Continue reading...

European carbon prices rose for a third day on Friday, taking direction from a relatively strong auction and wider sustained strength in energy markets to move above a key technical resistance level.

The European Commission has launched a long-awaited consultation on the EU's upcoming industrial carbon management strategy which is seen by stakeholders in the removals and carbon capture and storage space as key for shaping the future of such technologies in the bloc.

Allowance prices in China’s carbon market edged up over the past week with improved but still small trading volume, though the overall sentiment remains cautious amid concerns over the impact of the upcoming carbon border tax, experts said.

Scientists say marine life is being harmed by human chemicals from recreational drugs, antidepressants and oestrogen

A study looking at water pollution on the south coast of England has revealed high levels of potentially harmful chemicals including recreational drugs and antidepressants.

Scientists involved in the research say marine life is being harmed by human chemicals, pointing to evidence that oestrogen in water can feminise male fish through biological changes.

Continue reading...

Satellite images captured from the International Space Station on Wednesday showed smoke from Canada's raging wildfires spreading to the US. The massive cloud of smoke was seen moving across Lake Superior, in the Great Lakes region, passing over Lake Huron and Lake Erie, and ending in Pennsylvania, which appears completely obscured. The smoke pushed further down the Atlantic seaboard on Thursday, blanketing Washington DC in an unhealthy haze

Continue reading...

The number of Australian Carbon Credit Units (ACCUs) issued in the first quarter of 2023 fell by nearly half compared to the same period last year, according to the Clean Energy Regulator, though it estimated that the market is well supplied to 2030.

As Russian oil and gas imports fell petrostates including UAE, Qatar and Saudi Arabia increased exports to UK

UK fossil fuel imports from authoritarian petrostates surged to £19.3bn in the year following Russia’s invasion of Ukraine, it can be revealed.

Efforts to end the purchasing of oil and gas from Russia appear to have resulted in a surge in imports from other authoritarian regimes, including Algeria, Bahrain, Kuwait, Libya, Qatar, Saudi Arabia and the United Arab Emirates (UAE), according to data from the Office for National Statistics analysed by DeSmog.

Continue reading...