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Indonesia must phase out 3 GW of coal annually to meet 2040 target, analysis finds

Carbon Pulse - Wed, 2024-12-04 10:01
Indonesia would need to retire 3 GW of coal-fired power plants per year and replace it with 8 GW of renewables at the same rate if it is to achieve its 2040 coal phase-out target, according to an analysis published Wednesday.
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Investors with $6.5 trillion of assets see mixed results in seafood sustainability engagement

Carbon Pulse - Wed, 2024-12-04 10:01
Some 35 investors representing $6.5 trillion in combined assets have engaged with varied results over a year-long outreach with seven seafood companies on sustainability issues such as supply-chain traceability to curb habitat destruction and overfishing.
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Four of UK’s oldest nuclear plants to run for even longer as Hinkley Point delayed

The Guardian - Wed, 2024-12-04 10:01

EDF extends life of reactors to ‘boost energy security’ and bridge gap before new Somerset project starts up

Four of Britain’s oldest nuclear power plants will continue running for more than a decade longer than initially planned to help bridge a gap before the delayed Hinkley Point nuclear station starts up.

The owner of Britain’s nuclear plants, the French energy company EDF, said it had agreed to extend the lifetime of its reactors yet again to “boost energy security and reduce dependence on imported gas”.

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New Zealand auction partially clears with 4 mln NZUs sold

Carbon Pulse - Wed, 2024-12-04 09:13
The final New Zealand ETS auction for 2024 has partially cleared, with 4 million NZUs selling at NZ$64 ($37.63), in line with market expectations.
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Protection deal for Amazon rainforest in peril as big business turns up heat

The Guardian - Wed, 2024-12-04 08:30

Exclusive: With Brazil’s politicians, agribusiness organisations and global traders piling on the pressure, the highly successful 2006 Soy Moratorium is under threat

One of the cornerstones of Amazon rainforest protection – the Soy Moratorium – is under unprecedented pressure from Brazilian agribusiness organisations, politicians, and global trading companies, the Guardian has learned.

Soy is one of the most widely grown crops in Brazil, and posed a huge deforestation threat to the Amazon rainforest until stakeholders voluntarily agreed to impose a moratorium and no longer source it from the region in 2006.

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North Dakota coal plant CCS project loses lead developer despite DOE support

Carbon Pulse - Wed, 2024-12-04 08:17
A large-scale carbon capture and storage (CCS) project at a North Dakota coal plant is in limbo as a co-developer withdrew from the project months after receiving federal support from the US Department of Energy (DOE).
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California power emissions drop YoY in October despite renewables receding, natural gas demand rising

Carbon Pulse - Wed, 2024-12-04 07:43
California electricity sector emissions fell year-on-year (YoY) in October even as the share of renewable energy declined and natural gas rose, according to data published Monday by the state's grid operator.
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EU parliament, countries agree to delay anti-deforestation law

Carbon Pulse - Wed, 2024-12-04 07:26
Companies will have one more year to comply with the EU's incoming deforestation law, under an agreement struck on Tuesday evening between the European Parliament and Council of member states.
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FEATURE: No sign of Canada’s 2035 climate target, despite mandate by law

Carbon Pulse - Wed, 2024-12-04 07:19
Canada’s 2035 climate target was expected Dec. 1 as per federal law, but legal ramifications resulting from the delay appear limited amid a challenging political environment for increased climate ambition.
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Delays cause CO2 pipeline developer to withdraw permit application in Iowa

Carbon Pulse - Wed, 2024-12-04 06:19
A midwestern carbon pipeline company has withdrawn its permit application to build a CO2 pipeline in Iowa after delays created uncertainty around the project’s timeline, the company said in state filings.
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Global markets are likely to withstand a Trump-led US withdrawal from the Paris Agreement

The Conversation - Wed, 2024-12-04 05:11
New research examining how net-zero announcements from the US, UK, and China affected global financial markets could help forecast what the future may hold, if the US pulls back on its commitments. Mona Mashhadi Rajabi, Postdoctoral Research Fellow, University of Technology Sydney Martina Linnenluecke, Professor of Environmental Finance at UTS Business School, University of Technology Sydney Tom Smith, Professor, Department of Applied Finance, Macquarie University Licensed as Creative Commons – attribution, no derivatives.
Categories: Around The Web

EU earmarks over €4 bln from ETS revenues for cleaner cars

Carbon Pulse - Wed, 2024-12-04 03:48
The European Commission has earmarked €4.6 billion from revenues generated by the EU's Emissions Trading Scheme (EU ETS) to boost net-zero technologies like electric vehicles, paving the way for its upcoming 'Clean Industrial Deal' and related efforts to green the automotive industry.
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Vattenfall pauses CCS plans in Sweden -media

Carbon Pulse - Wed, 2024-12-04 03:06
Swedish utility Vattenfall has paused plans for carbon, capture, and storage (CCS) plants in Sweden, citing the market as too “immature”, according to media reports.
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Too much focus on host country risk in global carbon trade, says project developer

Carbon Pulse - Wed, 2024-12-04 02:33
There is currently too great a focus on the integrity risks associated with host countries, and not enough on those associated with slow-moving policy on the development of global carbon markets, an executive from a project developer said on Tuesday.
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Wolves to lose protection, as EU lowers bar for shooting wildlife

The Guardian - Wed, 2024-12-04 02:30

Downgrading species’ protection status for political gain puts decades of conservation efforts at risk, says WWF

Europe’s wolves will lose their “strict protection” status, alarming conservationists who fear for the survival of an animal brought back from the brink of local extinction.

A committee charged with saving wildlife took the wolf’s protection status down a notch on Tuesday after members voted through a proposal from the European Union that lowers the bar for shooting a wolf.

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Cop29 gave us a Putin-friendly deal – and a glimpse of the dark future of climate talks | Fiona Harvey

The Guardian - Wed, 2024-12-04 01:55

The Baku Cop29 talks were marked by division and self-interest, with rancorous meddling right until the end

  • Fiona Harvey is an environment editor at the Guardian

When I first visited Azerbaijan this spring, one fixture of the Baku skyline was unmissable. The bright orange of flaring – the product of the oil and gas extraction that makes up 90% of Azerbaijan’s export revenues – lit up the night sky, not far from the Olympic stadium, where nearly 200 nations would gather in November for the Cop29 climate summit.

Flaring burns methane, a powerful greenhouse gas, and is a major source of carbon emissions. If all the world’s flared gas were captured instead, it could power sub-Saharan Africa. But that entails installing new equipment, so producers don’t bother.

Fiona Harvey is an environment editor at the Guardian

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Sustainable aviation too slow to take off, finds report

Carbon Pulse - Wed, 2024-12-04 01:30
A mere 12% of airlines around the world are making "noteworthy efforts" to switch from kerosene to truly sustainable aviation fuels (SAFs), while the others are either buying too little or the wrong kind of alternative, according to an NGO ranking published on Tuesday.
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First industrial cement CCS plant ready to test CO2 storage under North Sea

Carbon Pulse - Wed, 2024-12-04 01:08
A German building company is on track to complete the first industrial-scale carbon capture and storage (CCS) plant for the cement industry, with the system now ready for testing.
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