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Analysis of the carbon offset projects used by top corporations including Delta, Gucci and ExxonMobil raises concerns around their emission cuts claims

Some of the world’s most profitable – and most polluting corporations – have invested in carbon offset projects that have fundamental failings and are “probably junk”, suggesting industry claims about greenhouse gas reductions were likely overblown, according to new analysis.

Delta, Gucci, Volkswagen, ExxonMobil, Disney, easyJet, and Nestlé are among the major corporations to have purchased millions of carbon credits from climate friendly projects that are “likely junk” or worthless when it comes to offsetting their greenhouse gas emissions, according to a classification system developed by Corporate Accountability, a non-profit, transnational corporate watchdog

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French data company Iceberg Data Lab expects to double the number of clients using its products, including the Corporate Biodiversity Footprints (CBF), for a second time over the next year.

Japan and the Asian Development Bank have agreed to expand cooperation on funding Joint Crediting Mechanism (JCM) initiatives beyond just energy-related projects, in a bid to accelerate financing under the programme and ramp up carbon credit generation.

The European Union must beef up support for its domestic clean tech industry otherwise it will be wiped out by heavily-subsidised Chinese and US competitors, warned Poland’s climate minister.

The federal government has released a draft roadmap for car-dependent Australia on how it will reduce emissions in the transport and transport infrastructure sector for consultation, as part of its six sectoral plans to reduce emissions.

Singapore-based Climate Impact X on Thursday announced it has appointed an interim CEO, after predecessor Mikkel Larsen announced his resignation in March.

Last year saw rapid progress for CCS and CCUS projects across Asia Pacific, with the ability to start dealing with CO2 imports making strides in key regions like Australia, Indonesia, and Malaysia, consultants said Thursday.

Broadscale treatment under way after nests found at Nirimba in Queensland’s south-east

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Fire ants have been found on the Sunshine Coast as the super pest continues to spread beyond a containment zone in Queensland’s south-east corner.

It’s the latest in a series of so-called outlier detections of the hyper aggressive invasive species that Australia has been fighting to eradicate for decades.

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Voluntary carbon market volume and value globally declined in 2023 for the second year in a row from its 2021 peak, as intense media scrutiny held back buyers, according to research released on Thursday.

China has released an energy conservation and carbon reduction action plan it says will cut CO2 emissions from energy consumption over the next year by 130 million tonnes.

Big tech is playing its part in reaching net zero targets, but its vast new datacentres are run at huge cost to the environment

• Mariana Mazzucato is professor of economics at UCL, and director of the Institute for Innovation and Public Purpose

When you picture the tech industry, you probably think of things that don’t exist in physical space, such as the apps and internet browser on your phone. But the infrastructure required to store all this information – the physical datacentres housed in business parks and city outskirts – consume massive amounts of energy. Despite its name, the infrastructure used by the “cloud” accounts for more global greenhouse emissions than commercial flights. In 2018, for instance, the 5bn YouTube hits for the viral song Despacito used the same amount of energy it would take to heat 40,000 US homes annually.

This is a hugely environmentally destructive side to the tech industry. While it has played a big role in reaching net zero, giving us smart meters and efficient solar, it’s critical that we turn the spotlight on its environmental footprint. Large language models such as ChatGPT are some of the most energy-guzzling technologies of all. Research suggests, for instance, that about 700,000 litres of water could have been used to cool the machines that trained ChatGPT-3 at Microsoft’s data facilities. It is hardly news that the tech bubble’s self-glorification has obscured the uglier sides of this industry, from its proclivity for tax avoidance to its invasion of privacy and exploitation of our attention span. The industry’s environmental impact is a key issue, yet the companies that produce such models have stayed remarkably quiet about the amount of energy they consume – probably because they don’t want to spark our concern.

Mariana Mazzucato is professor of economics at UCL, and director of the Institute for Innovation and Public Purpose

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The third and newest big battery on Queensland's main grid running at or near full capacity as it completes its commissioning process.

The post Newest big battery in Sunshine state now charging at up to full capacity appeared first on RenewEconomy.

The spot NZU price has climbed nearly 7% in recent days as the coalition government announced little in new funding on climate initiatives in its latest budget Thursday, focusing instead on funding tax breaks and public service spending.

Brookfield makes $10.2 billion offer for Neoen, the French based company that has become Australia's most successful developer of renewables and storage.

The post Brookfield makes agreed $10 billion bid for Neoen – Australia’s biggest renewables developer – after Origin snub appeared first on RenewEconomy.

Spain-based X-Elio seeks federal green tick for a 350 MW solar farm and two-hour big battery in Western Downs region.

The post X-Elio seeks green tick for 350MW solar farm and two-hour big battery in Queensland appeared first on RenewEconomy.

The only pathway we have left to limit warming to 1.5°C is political. Sadly, our current government seems set on a sleight of hand rather than cutting fossil fuel and industry emissions.

The post Australia’s Net Zero target is being lost in accounting tricks, offsets and more gas appeared first on RenewEconomy.

Plans to develop a solar thermal powered methanol production facility that will supply green fuel for shipping and aviation have been given green tick.

The post Solar thermal powered green methanol plant wins planning consent in Port Augusta appeared first on RenewEconomy.

Policy work by Australian state and federal governments has allowed investors to be more confident to spend cash on climate solutions in the country, a survey released Thursday found, despite global economic headwinds and a perceived lack of investment opportunities in the country.

A digital platform for household solar energy, electric cars and batteries to communicate across the electricity grid could cut power bills by $1500 per year.

The post Digital platform to harness value of home solar, batteries, electric cars appeared first on RenewEconomy.

Redback CEO Adrian Knack on surviving and thriving in the home battery business. Plus: A boost for batteries and a tax on solar.

The post Solar Insiders Podcast: Redback revival, battery rebates and solar tax appeared first on RenewEconomy.