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One of the largest players in the voluntary carbon market (VCM) has undergone a major restructuring to reduce staff amid the challenging economic environment of high interest rates and stalling demand.

Nine state governors whose jurisdictions cover the Amazon rainforest have penned a letter calling for the proposed Brazilian System of Emissions Trading (SBCE) to include existing subnational REDD+ programmes, and allow subnational representatives to help comprise the future cap-and-trade system's governing body.

The 11 RGGI member states on Tuesday announced they will host a public meeting in late September to discuss and seek feedback on the third programme review thus far, alongside results of their electricity sector analysis for reforming the power sector carbon market.

The final Nova Scotia cap-and-trade sale saw its smallest number of bidders and steepest undersubscription rate ever as it cleared at the scheme’s floor price, according to results published by the provincial government on Tuesday.

Market participants mostly expect Washington’s third cap-and-trade auction in 2023 to settle near steep front-month allowance prices on the secondary market, with the Wednesday sale almost guaranteed to once again trigger a reserve permit offering.

Standards body Verra on Tuesday announced updates to its VCS programme such as labels for carbon credits featuring removals and alignment with Article 6 of the Paris Agreement, as well as to further align it with several international programmes and quality initiatives.

Octopus venture with First Nations peoples plans $1 billion of solar and battery projects in Northern Territory, and has an eye on even bigger green hydrogen plans.

The post Octopus eyes huge solar, battery and green hydrogen plans in First Nations deal appeared first on RenewEconomy.

There are a few media outlets that have taken the route of sensationalising and systematically criticising emission reduction projects financed through carbon credits, but we cannot continue to belittle all the efforts that are being made to achieve net zero, writes Alexis Leroy of Allcot.

New report says wind and solar saved $810 billion in electricity costs across the globe in 2022, and delivered substantial emissions and health benefits.

The post “Turning point:” Wind and solar deliver $810 bn in savings from fossil fuels in single year appeared first on RenewEconomy.

Offshore wind industry warns Australia that its first gigawatt scale projects will not be cheap, but costs will fall if the country aims for scale and is realistic about local content.

The post “It’s not going to be cheap:” Australia warned on first offshore wind costs and supply chains appeared first on RenewEconomy.

Only two companies make bids for right to develop offshore wind off Gulf coast, in setback for administration’s green-energy plans

The Biden administration on Tuesday held the first ever auction for the right to develop offshore wind in the Gulf of Mexico, with just one of the three available leases provisionally awarded and only two bidders.

The historic sale fell on the anniversaries of 2005’s Hurricane Katrina and 2021’s Hurricane Ida, climate crisis-fueled disasters that devastated Gulf communities. It also comes the day after the Gulf cities of New Orleans and Houston saw their hottest temperatures in recorded history, and as the largest wildfire in state history ravages Louisiana.

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European Commission President Ursula Von der Leyen on Tuesday proposed Dutch deputy prime minister and foreign minister Wopke Hoekstra as the next EU climate commissioner, following an interview with the candidate put forth by the outgoing Dutch coalition government.

Ministers have claimed Ulez is cash-raising ploy – but letter reveals Grant Shapps backed a separate charge for same reason

Ministers have been accused of hypocrisy in claiming Sadiq Khan expanded London’s ultra-low emission zone (Ulez) to raise revenue after it emerged the Department for Transport urged the mayor to extend the city’s congestion charge for the same reason.

On the first day of Ulez covering every London borough there was renewed bickering between the Labour mayor and the government, with Khan castigating Mark Harper, the transport secretary, for what he called factual mistakes after the pair crossed paths at a TV studio.

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The US Department of Agriculture's Forest Services has announced $16.2 million to restore forest lands in tribal, state, and private sites in an effort to boost nature-based resilience to climate change, as part of its Landscape Restoration Programme.

Metsa Group has targeted triggering “systemic” international change in land management with the launch of a pilot to boost biodiversity across 650 hectares, Carbon Pulse has learned.

New offshore wind capacity expected to built in the Asia-Pacific (APAC) region between now and 2032 could abate around 650 million tCO2 a year, forecasts the Global Wind Energy Council (GWEC).

The UK government has committed £16 million to restoring peatland across 12 projects covering over 6,000 hectares collectively in England to help boost the nation's carbon sink.

The government says removing EU-era pollution restrictions on developments could "unblock" 100,000 new homes.

European carbon prices moved in a narrow range in quiet trading as the market began to resume normal operations after the summer break and Monday's UK public holiday, while energy markets gave up some of Monday's gains even as workers at Chevron's Australian LNG operations prepared to strike.