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The president's office in Peru has issued a supreme decree that seeks to enshrine into law a new national climate strategy, aligning it with 2050 net zero plans and carving out a major role for REDD+ avoided deforestation and carbon finance.

The decision over which cookstove methodologies will be eligible for the Core Carbon Principle (CCP) high-integrity badge is set to be delayed until next year amid ongoing “complex discussions involving many stakeholders”, the Integrity Council for the Voluntary Carbon Market (ICVCM) told Carbon Pulse.

Serbia launched its second renewable energy auction on Wednesday, which includes a tender for power contracts to develop 300MW of onshore wind power.

North American pension funds could see their returns fall by as much as 50% by 2040 under a high-warming scenario, with further declines expected through 2050, according to analysis published Thursday.

European carbon moved in a comparatively narrow range and was little changed by midday on Thursday, as EUAs calmed amid the US Thanksgiving holiday, while energy prices edged lower as markets sought direction.

The European Commission on Wednesday approved Sweden's request to unilaterally extend the scope of its Emissions Trading System for heating and transport fuels (ETS2) to new sectors, including railways, vehicles used in agriculture, forestry, and fishing.

Tech startup BNGx on Thursday launched what it claims is the “first fully digital” marketplace for biodiversity net gain (BNG) units with a tailored process to connect buyers with sellers, joining a few other existing exchanges.

Environmental groups have condemned ArcelorMittal’s decision to freeze its green steel projects in Europe, saying the move was “motivated by political games” in order to extract more policy support and subsidies from the incoming European Commission.

Seven countries, led by Italy, are calling on the EU to hit the brakes on decarbonisation policies that might damage the bloc's automotive sector, according to a document seen by Carbon Pulse ahead of a presentation to competition ministers on Thursday. 

Industry groups have ramped up pressure to ensure that a list of banned plastic products is excluded from the UN treaty under negotiation in Busan, South Korea, while environmental organisations have responded by warning such a move could significantly weaken the text.

A Swiss insurance company will support an enhanced rock weathering startup and a concrete-based carbon storage project as part of its revised emissions reduction strategy.

The lack of a standardised metric to measure plastic units has fuelled concerns over crediting mechanisms at the ongoing UN plastic talks in South Korea, with experts claiming the emerging market is not built on strong scientific foundations.

South Korea needs drastic policy changes to improve the efficiency of the country's obligatory carbon market, including the phase-out of free allowance allocation for the power sector, environmental groups have urged. 

A law firm that took on one of Australia’s largest oil and gas companies has been ordered to pay its legal costs of over A$9 million ($5.84 mln) after it lost the case.

COP16 negotiations will resume in Feb. 2025 in Rome after UN biodiversity talks were abruptly suspended in early November in Colombia.

Industrial facilities covered under the Safeguard Mechanism should report rolling 5-year compliance strategies, the Climate Change Authority (CCA) said Thursday, as it urged all sectors, with electricity in the lead, to cut emissions faster to meet Australia’s climate targets.

The Climate Change Authority has welcomed the introduction of "substantial" policies by the Albanese government but warns more work must be done to reach emissions targets.

The post Australia is making mixed progress on emissions, and rapid cuts are needed, says CCA appeared first on RenewEconomy.

As Australia’s natural environment declines, Labor appears to cave to vested interests, writes Felicity Wade

On Thursday we were hoping to be celebrating the Australian parliament passing legislation to create a federal Environmental Protection Agency, an expert watchdog to oversee our country’s natural bounty. This was going to be a major moment for which my organisation, the Labor Environment Action Network (LEAN) and many others had worked for years. Promised on the eve of the 2022 election, it was the centre-piece of the Labor’s commitment to the environment. But late on Tuesday afternoon the legislation was moth-balled.

It is a sad and sorry tale.

Felicity Wade is national co-convener of the Labor Environment Action Network

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New tender for 6 GW for wind and solar opens, as Climate Authority calls for CIS to be expanded, for more use of local networks, faster planning approvals and more solar and battery hybrids.

The post New tender opens for another 6 GW of wind and solar as record year puts 2030 renewables target within reach appeared first on RenewEconomy.

Australia’s Clean Energy Regulator has launched the first stage of its new Unit and Certificate Registry, designed to house various unit types for the government’s climate and environmental crediting schemes.