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EU carbon prices firmed robustly on Thursday morning as energy markets initially strengthened on forecasts for cooler weather and modest renewable generation, before gas gave up almost all its gains on reports that Europe will have little difficulty sourcing supplies this winter.

The new global finance goal that is due to be agreed at COP29 this month must include a massive boost for adaptation, according to a flagship UN report published on Thursday.

Volumes in Australia’s compliance credit market are on track to beat last year's by more than a third, and in October recorded its third-highest amount of trade of any month at 3.6 million Australian Carbon Credit Units (ACCUs), according to a report released Thursday.

The cost of direct air capture credits can drop to $100 per tonne in the near term, by equipping the technology to do more than just remove carbon from the atmosphere, the chief development officer of a decarbonisation solutions provider has told Carbon Pulse.

Despite prior optimism for progress in Baku on UN carbon markets, political uncertainty following this week's US election result has dampened enthusiasm for a strong outcome on Article 6 at COP29, with multiple key technical elements of international carbon trade still to be clarified, as well as the thorny question of whether crediting standards brought into force ahead of the summit will be formally endorsed in Baku.

Last month saw the highest October figures for voluntary carbon credit retirements and issuances for three years, data analysed by Carbon Pulse shows.

LSEG customers can now access news and intelligence on carbon markets, greenhouse gas pricing, and climate policy via their Workspace platform, thanks to a new partnership with specialist provider Carbon Pulse.

China's Hubei province has announced plans to push forward a local carbon offset programme and encourage the development of forest carbon projects within the region.

Papua New Guinea will send a delegation to COP29 in Azerbaijan this month after first its prime minister and then its foreign minister had said it would not as a protest against the lack of climate finance for maintaining its vast carbon sink forests.

Conservation groups are asking for the decision to allow Hvalur to hunt to be put on hold until after election

A coalition of conservation and animal welfare groups are urging Iceland’s president to step in and stop any plans the prime minister has to issue a whaling licence to Europe’s last whaler before the Icelandic election at the end of the month.

Earlier this year, the country granted a one-year licence to Hvalur to kill more than 100 fin whales this hunting season, despite hopes the practice may have been stopped after concerns about cruelty led to a temporary suspension in 2023.

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Five European countries may be breaching EU law when it comes to their climate and energy obligations, according to a series of legal complaints filed on Thursday that call on the European Commission to take action.

Victoria is pushing ahead with plans for a renewables terminal in Western Port Bay following a veto of initial plans by the federal environment minister.

The post Victoria reworks offshore wind terminal plans in fresh bid for federal green tick appeared first on RenewEconomy.

Australian Energy Regulator says electricity affordability will be an "ongoing challenge" that requires systemic change and reforms to harness household solar and batteries.

The post Regulator says “systemic change” needed to cut energy costs, embrace consumer renewables appeared first on RenewEconomy.

Trump is back, and the world's climate efforts are once again at risk. But Australia need not follow the US embrace of fossil fools, conspiracy theories and billionaire tweets.

The post Are you OK? World teeters on brink as Trump and cronies prepare to flood the zone with shit appeared first on RenewEconomy.

It is also set to be the world's first breach of 1.5C of warming across an entire calendar year.

Trump's election will hit immediate efforts to tackle climate change, experts say - but the longer-term effect is less certain.

Copernicus Climate Change Service says 2024 marks ‘a new milestone’ and should raise ambitions at Cop29 summit

It is “virtually certain” that 2024 will be the hottest year on record, the European Union’s space programme has found.

The prognosis comes the week before diplomats meet at the Cop29 climate summit and a day after a majority of voters in the US, the biggest historical polluter of planet-heating gas, chose to make Donald Trump president.

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Green Wind is Macquarie's partner in WA wind and has revealed details about the next two of four projects in the state.

The post Macquarie partner unveils another two wind projects totalling more than 1.1 GW in WA wheatbelt appeared first on RenewEconomy.

Danish renewables giant launches new all-Australian subsidiary with plans to develop 6 GW of onshore wind and solar and "a network" of big batteries.

The post Danish giant launches Australian renewables play with 6 GW of wind, solar and battery plans appeared first on RenewEconomy.

What will a Trump Presidency mean for climate policy, in the US, Australia and elsewhere? Buckle up, it’s not pretty. Christian Downie, Associate Professor, Australian National University Licensed as Creative Commons – attribution, no derivatives.