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Taxpayers in Europe risk having to foot a collective €140 billion bill for risky carbon capture and storage projects, as governments in the EU and the UK bet on CCS to reduce greenhouse gas emissions from hard-to-abate sectors, financial analysts have warned.

The UK government announced on Thursday a new “cap and floor” scheme to incentivise billions in private investment in long-duration energy storage (LDES) technologies to support renewable power integration and boost energy security.

The UN body mandated to determine rules governing the Paris Agreement's Article 6 opted early Thursday to bypass negotiators and bring its standards for carbon methodologies and removals into force - in a "risky" and "bold" move that was widely welcomed for its potential to drive agreement at next month's COP29, despite concerns about its long-term implications.

Wheat haul in England estimated to be down by 21%, with Britain’s wine producers also hit hard

England has suffered its second worst harvest on record – with fears growing for next year – after heavy rain last winter hit production of key crops including wheat and oats.

The cold, damp weather, stretching from last autumn through this spring and early summer, has hit the rapidly developing UK wine industry particularly hard, with producers saying harvests are down by between 75% and a third, depending on the region.

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A Qatar-based organisation has selected a first Article 6 project for inclusion in an Internationally Transferred Mitigation Outcomes (ITMOs) auction on a blockchain platform, it announced Thursday.

Gold Standard plans to next year publish a methodology that will credit early coal plant decommissioning, a senior member of the organisation said on Thursday.

The decline in global wildlife populations accelerated between 2018 and 2020, according to a scientific assessment published on Thursday by the WWF, which warned that the world is fast approaching irreversible tipping points for nature and climate.

European carbon prices strengthened again tracking bullish gas prices as participants pointed to a return to correlation between the two markets on Thursday, as the benchmark EUA contract moved past key technical resistance levels.

Fifty-six member countries of the Commonwealth plan to make a joint declaration on ocean protection during the upcoming association's meeting in Samoa, the first ever hosted by a Pacific Island nation.

A UN-backed multi-donor coalition this week committed $2.5 billion over the next decade to support Cameroon in transitioning away from traditional land-use practices towards deforestation-free production models.

Bursa Malaysia, the Malaysian stock exchange, is pushing for a common carbon framework for the Association of Southeast Asian Nations (ASEAN) region, it announced Thursday.

Scaling the voluntary biodiversity credit market, including through establishing a global framework to ensure integrity, will be among the core topics of discussion at the upcoming COP16 in Colombia, as standards and early movers see the summit as an opportunity to unlock corporate demand.

The European Union’s 27 climate and environment ministers are set to adopt their negotiating mandate for the November UN climate summit in Baku, with only two final discussion points on the table, French officials have said.

A Japanese offset developer has secured partnerships with local partners to expand its presence in Thailand's voluntary carbon sector. 

The BIRA Coalition has announced it is forming a buyer’s club that aims to raise millions of dollars through nature credits generated by large-scale projects in Sub-Saharan African countries, Carbon Pulse has learned.

Attendees of Australia’s first Global Nature Positive Summit lauded the government for hosting the event, but the current political troubles it faces and lingering questions over how to incentivise private sector investment are not going away.

As average population falls reach 95% in some regions, experts call for urgent action but insist ‘nature can recover’

Global wildlife populations have plunged by an average of 73% in 50 years, a new scientific assessment has found, as humans continue to push ecosystems to the brink of collapse.

Latin America and the Caribbean recorded the steepest average declines in recorded wildlife populations, with a 95% fall, according to the WWF and the Zoological Society of London’s (ZSL) biennial Living Planet report. They were followed by Africa with 76%, and Asia and the Pacific at 60%. Europe and North America recorded comparatively lower falls of 35% and 39% respectively since 1970.

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South Korea has proposed a set of sub-rules to supplement the country's national law for the development of carbon capture, utilisation, and storage (CCUS), specifying facility standards for project operators.

Large, cattle-like tauros will shape landscape and strengthen wildlife as huge, extinct herbivore once did

A herd of beefy, long-horned tauros are to be released into a Highlands rewilding project to replicate the ecological role of the aurochs, an extinct, huge herbivore that is the wild ancestor of cattle.

The tauros have been bred in the Netherlands in recent years to fill the niche vacated by the aurochs, which once shaped landscapes and strengthened wildlife across Europe.

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New report says renewable deployments have accelerated but still not at the pace to meet emissions goals. Australia, however, is hailed a "global pioneer" on wind and solar.

The post Global shift to renewables has quickened, but still not fast enough to meet crucial climate goals appeared first on RenewEconomy.