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Permits in China’s national emissions trading scheme (ETS) fell below the 90 yuan ($12.61) mark over the past week, hitting their lowest level in a month, though trading activity picked up significantly to end the week with more than 2 million units changing hands.

The Australian government will spend an additional A$192 million ($129 mln) to improve and protect the Great Barrier Reef’s water quality in order to prevent bleaching events and aid recovery when they do occur.

The rules for buying offsite units to comply with England’s Biodiversity Net Gain (BNG) requirements aren’t clear enough for developers currently, with some local authorities better equipped to advise on the market than others, according to a sustainability consultancy working with large building clients.

Carbon pricing is a key policy tool to ensure climate success, especially when combined with subsidies for clean energy and effective regulation such as state-induced coal phaseout, according to an international report published this week.

A volcano in south-west Iceland has erupted for the sixth time since December, spraying red-hot lava and smoke. The eruptions show the challenge faced by the island country of nearly 400,000 people, as scientists warn that the Reykjanes peninsula could face repeated events for decades or even centuries

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China's industry ministry has instructed all regions to cease issuing new steel capacity replacement plans, a move that could change the dynamics in the oversupplied and ETS-destined market.

Schools and university shut down in Tripura state after persistent heavy rain, and situation expected to worsen

Incessant rain across Tripura, a state in north-east India, has created what has been described as the state’s worst flood situation in the last three decades. Persistent heavy rain from Monday to Wednesday resulted in several rivers exceeding danger and extreme danger marks, leading to widespread flooding that has caused the deaths of 10 people as well as displacing more than 34,000.

The southern Tripura districts had the worst of the floods and the 34,000 displaced people were being sheltered in the north of the region. There were 24-hour rainfall totals on Wednesday of 375.8mm recorded in Bagafa and 324.4mm in Belonia. The flooding and heavy rain led schools to shut down on Wednesday and Thursday, while Tripura University suspended all regular classes on Wednesday. The heavy rain was caused by a low pressure system situated over Bangladesh that is slowly moving westwards into north-east India. The situation is therefore only expected to worsen, with a further 100-150mm falling through Thursday and Friday as rivers continue to remain at breaking point.

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Taiwan should make it mandatory for public funds to consider climate risks in their investment and financing decision-making and include a timeline for their divestment from fossil fuels, an environmental group has urged. 

The best of this week’s wildlife photographs from around the world

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Campaigners denounce ‘pure slaughter’, which could threaten survival of entire Scandinavian population

More than 150 brown bears have been killed in the opening days of Sweden’s annual bear hunt, as controversy mounts over what conservationists have called “pure slaughter”.

The Swedish government issued 486 licences to shoot bears in this year’s hunt, equivalent to about 20% of the remaining brown bear population. This follows a record-breaking cull of 722 bears last year. By Thursday afternoon – the second day of the hunt – 152 bears had already been shot, according to Sweden’s Environmental Protection Agency.

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The New Zealand carbon market finished the week trading at a five-month high on the back of the government’s decision to drastically cut the number auction volumes next year, with over 1.7 mln units traded on the spot market this week.

Just 5 per cent of the 120 objections to the solar and battery project came from residents within 5km of the project. One quarter were from more than 100km away.

The post Glint, glare, magnetic fields: Tamworth solar farm sent to planning commission with 120 objections appeared first on RenewEconomy.

NAB's Andrew Smith on the challenges of raising equity for Australia's renewable energy transition. Plus: News of the week.

The post Energy Insiders Podcast: The search for equity appeared first on RenewEconomy.

Australia's largest companies and financial institutions must provide greater detail on how climate change is affecting strategy and key business decision under amendments to the Corporations Act.

The post Bill passes to force big Australian companies to report on climate impacts and risks appeared first on RenewEconomy.

The Australian federal government on Thursday passed legislation on mandatory climate reporting, which it said would provide greater clarity to investors and boost investment in the net zero transformation.

Plans to build a massive wind farm of up to 1.3GW in Victoria's north have joined the queue for federal environmental approval.

The post Gigawatt-scale Victoria wind farm, big battery joins queue for federal green tick appeared first on RenewEconomy.

Federal Labor has allowed a policy based on leveraging our comparative advantage in clean energy to be hijacked by claims we need more gas. We don't.

The post Future Made in Australia: A plan to super-charge renewables, or a stalking horse for gas expansion? appeared first on RenewEconomy.

India has left coal-fired power generation out of its compliance carbon market from the outset, but might add the big-emitting sector to the scheme later, a government official said Thursday.

The incident is the second to hit the massive 3.2GW Dogger Bank project in the UK and the third involving GE Vernova's 13MW Haliade-X turbines.

The post Second turbine blade failure hits world’s largest offshore wind farm, in fresh blow to GE Vernova appeared first on RenewEconomy.

California diesel and gasoline consumption in May increased month-on-month as retail prices receded from year-to-date highs in April, state data published this week showed.