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Prices in China’s CO2 allowance market over the past week continued to decrease on relatively low volumes, while the Shanghai pilot market has reached full compliance after the latest government auction Thursday.

UK monarch addresses summit as British PM among world leaders arriving in the UAE for climate talks

My colleague Nina Lakhani has more on yesterday’s loss and damage agreement.

As the second day gets under way, the president of the G77 plus China group – the bloc of 135 developing countries which played a key role in yesterday’s historic resolution on operationalising the loss and damage fund – said the decision sent a clear political message.

“It was a milestone in terms of creating a positive mood for the very, very complex process on the GST [global stock take] that we had ahead of us now. But the fund needs to be filled up. The pledges announced were a welcome sign, but they were just pledges and must materialise as soon as possible. And we expect much, much more because of the impact of loss and damage in developing countries,” said ambassador Pedro Pedroso of Cuba.

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It's Day 2 of COP28 and world leaders are descending on Expo City in Dubai, UAE. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (Gulf Standard Time, GMT+4).

Certifier Gold Standard on Friday announced a new work programme to support government efforts to develop carbon market initiatives and deepen alignment between international standards and emerging national frameworks.

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

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The federal government has laid out its projections for Australian Carbon Credit Units and Safeguard Mechanism Credits (SMCs), expecting demand for ACCUs to peak in 2031.

Rishi Sunak’s attendance comes after he scaled back pledges to help the UK reach net zero by 2050

• Cop28 live – latest updates

King Charles will give a “call to arms” in his Cop28 climate summit opening statement, Rishi Sunak has said, expressing delight over the monarch’s record championing the issue.

Sunak said it was a “proud moment” for him to witness Charles deliver his speech on Friday, which “speaks volumes about our type of leadership as a country”.

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Discussions around Australia’s carbon market is stuck in the perspective of it being a voluntary, rather than a compliance scheme, according to a fund partner, saying that the market must reorient its thinking if it is to succeed.

The biggest solar project entirely dedicated to a green hydrogen production centre about to begin construction.

The post Biggest solar farm contracted for green hydrogen to begin construction appeared first on RenewEconomy.

The Australian government is making moves in the Senate to get a report into its Nature Repair Market legislation finalised on Monday, some five months ahead of its official deadline.

Giant battery in Melbourne partly funded by SEC is looking at adding 12-hour storage using flow battery technologies for its next stage.

The post Giant Melbourne battery may triple in size with plans for 12-hour flow battery storage appeared first on RenewEconomy.

Many ‘green’ claims on social media ads are claims only. We need legislation to ensure green terms are clearly defined and based on the truth. Christine Parker, Professor of Law, The University of Melbourne Licensed as Creative Commons – attribution, no derivatives.

Through the Loss and Damage Fund, developed states and major emitters will compensate developing countries experiencing the most devastating effects of climate change. The fund is now operational. Matt McDonald, Associate Professor of International Relations, The University of Queensland Licensed as Creative Commons – attribution, no derivatives.

Rising temperatures are putting the health of endangered mountain gorillas at risk.

A daily summary of our news plus bite-sized updates from around the world.

There will be enough wind, solar and battery storage to fill up the Eraring sized hole in the grid. But will NSW Labor be governed by the dictates of radio shock jocks and newspaper headlines?

The post Do we really need Eraring when we’ll have more big batteries by 2026? appeared first on RenewEconomy.

California Carbon Allowance (CCA) prices dipped slightly as volumes almost halved over the past week, while Washington Carbon Allowance (WCA) prices also took a dive following the release of the draft cap-and-trade linkage bill, with volumes remaining low throughout.

Macquarie’s Lachlan Creswell and Aula’s Chad Hymas on wind, solar and storage. Plus: SEC’s big battery play, Bowen’s climate statement.

The post Energy Insiders Podcast: Macquarie marches in to Australian renewables appeared first on RenewEconomy.

Some petrostates could lose more than half their expected income from fossil fuels as the energy transition accelerates, technologies advance, and climate policy tightens, according to a report published on Thursday.

Nations struggle if the health of their population fails. But good health is seriously threatened by climate change. So putting health at the centre of climate action makes sense. Alistair Woodward, Professor, School of Population Health, University of Auckland Licensed as Creative Commons – attribution, no derivatives.