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Using North American automatic programme adjustments in the design of New York’s cap-and-invest scheme, rather than the supply-responsive approaches that their European counterparts use, would better serve to ensure programme stability, experts said Thursday.

French renewable energy developer Neoen says it has been paid significant damages for delays in the country's biggest solar project.

The post Neoen pockets significant damages for delays to Australia’s biggest solar project appeared first on RenewEconomy.

California Carbon Allowance (CCA) prices barnstormed as much as 10% over the past two days to new record highs after the state published larger-than-expected scenarios for cutting cap-and-trade allowance supply, while Washington Carbon Allowance (WCA) values climbed ahead of the programme's permit reserve sale next month.

A top EU court has ruled against a Swedish company’s bid to stay in the EU ETS despite its exclusively biomass-fueled operations that had resulted in the facility having almost no reportable CO2 emissions.

Belgian-based consortium announces plans to launch its first offshore floating solar energy test platform designed specifically for rough seas.

The post SeaVolt to launch “first of a kind” offshore floating solar demonstrator appeared first on RenewEconomy.

Three EU governments are trying to direct public money towards more fossil fuels, rather than steering away as the 27-nation bloc’s overarching climate strategy requires, a report showed on Thursday.

A “good number” of carbon credit projects will fail to attain the ICVCM's Core Carbon Principles (CCP) integrity label, but some market experts judge there to be still too much wriggle room and ambiguity in the cross-stakeholder body's newly-released assessment framework.

The UN secretary general, António Guterres, said scientists have confirmed July was on track to be the world's hottest month on record. Guterres warned 'the era of global warming has ended, the era of global boiling has arrived' after recent global temperatures shattered records. The steady rise in global average temperatures, driven by pollution that traps sunlight and acts like a greenhouse around the Earth, has made weather extremes worse

• ‘Era of global boiling has arrived,’ says UN chief as July set to be hottest month on record

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Around 15% of the bonds to be issued by the United Development Programme (UNDP) to help support tiger ecosystem protection in four Asian countries could be monetised through the sale of “high integrity biodiversity credits”, depending upon the ability to de-risk the credits through guarantee provisions.

Wildfires have turned the hills surrounding the temple of Segesta to ash after days of fires spreading across Sicily. Local authorities said the blaze was put out around the archaeological site, but it is temporarily closed to check for any damage. The island has been devastated by wildfires that have killed at least three people, while heatwaves and severe storms affected the north of Italy

• ‘Era of global boiling has arrived,’ says UN chief as July set to be hottest month on record

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Multiple Europe-headquartered power generation firms reported a significant drop in EU ETS-covered output in quarterly results published late Wednesday and Thursday, while a large steel producer became the latest to flag a weak demand outlook due to wider macroeconomic uncertainty.

The British government has published provisional price tiers for its statutory biodiversity credits as part of upcoming net gain legislation, with the final values to be set by the Department for Environment, Food and Rural Affairs (Defra) and subject to periodic review.

Researchers believe that July will smash the record for warmest month even with several days left to go.

Lawsuits are an increasingly important tool for holding governments and corporations accountable on climate, according to a report published Thursday by the United Nations Environment Programme (UNEP).

The EU has contributed an additional €25 million to the Food and Agricultural Organization’s Sustainable Wildlife Management (SWP) programme, with the funds set to benefit African biodiversity over the next six years.

Drone footage from the island of Rhodes in Greece, which has been hit be a string of fierce wildfires, gives an idea of the scale of destruction left by the blaze. The footage, from the towns of Asklipio and Kiotari, shows the charred embers of several burnt out cars and scorched trees and earth. Large areas of land were burnt grey and black, in fires that prompted the island's authorities to declare a state of emergency and carry out a mass evacuation of locals and tourists from affected areas. Greece is one of almost a dozen Mediterranean countries that struggled to control wildfires that broke out amid a record breaking heatwave in July

• Greece ‘at war with fire’ amid chaotic evacuation of tourists from Rhodes

• Climate crisis up close: a week of wildfires in Rhodes

• ‘Like a blowtorch’: Mediterranean on fire as blazes spread across nine countries

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European carbon prices stabilised at moderately lower levels on Thursday morning as the market appeared to find buying support after dropping by as much as €3.20 on Wednesday, while natural gas extended yesterday's sizeable losses as the August contract expiry neared.

Wildfires spread across nine Mediterranean countries, killing at least 40 people, most of them in Algeria. Algerian authorities said 34 people had died in the mountainous northern region, with neighbouring Tunisia similarly battling wildfires.

Across the Mediterranean, Sicily and large parts of Calabria were among dozens of wildfires, Italian authorities reported, amid a record-breaking heatwave. Two people were killed in their homes, said officials in Sicily. Firefighters also battled blazes in Turkey, Croatia, Syria, Gran Canaria and a natural park near Lisbon in Portugal.

The frequency and intensity of the blazes were 'unequivocally' linked to the human-induced climate emergency, said the scientist Izidine Pinto: 'In terms of heatwaves, more often we see that every study that we do, we see the fingerprint of climate change intensifying these type of events, of heatwaves. So, it's pretty clear'

• ‘Like a blowtorch’: Mediterranean on fire as blazes spread across nine countries

• Rhodes wildfires are climate wake-up call, says UK minister

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Biden had the last opportunity of any president to keep the world under 1.5C of heating. Instead he is squandering time we do not have

We’ve passed into a ferocious new phase of global heating with much worse to come. Biden must declare a climate emergency.

I’m terrified by what’s being done to our planet. I’m also fighting to stop it. You, too, should be afraid while also taking the strongest action you can take. There has never been a summer like this in recorded history: shocking ocean heat, deadly land heat, unprecedented fires and smoke, sea ice melting faster than we’ve ever seen or thought possible. I’ve dreaded this depth of Earth breakdown for almost two decades, and, like many of my colleagues, I’ve been trying to warn you. As hard as I could. Now it’s here.

Peter Kalmus is a climate scientist and author of Being the Change: Live Well and Spark a Climate Revolution

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