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Big fashion falls short of climate targets, new report finds

Carbon Pulse - Thu, 2024-08-08 01:21
A recently published report has revealed the world’s biggest fashion brands are not moving quickly enough to align with the global goal of limiting temperature rise to 1.5°C above pre-industrial levels.
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Hottest ocean temperatures in 400 years an ‘existential threat’ to the Great Barrier Reef, report finds

The Guardian - Thu, 2024-08-08 01:00

Researchers say coral analysis shows recent extreme temperatures would not have happened without greenhouse gas emissions from fossil fuels

Ocean temperatures in the Great Barrier Reef are now the hottest in at least 400 years and are an “existential threat” to the planet’s unique natural wonder, according to new scientific research.

Scientists analysed long-lived corals in and around the reef that keep a record of temperature hidden in their skeleton and matched them to modern observations.

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Aramco buys domestic carbon credits to lower shipment emissions

Carbon Pulse - Thu, 2024-08-08 00:00
Saudi Aramco has purchased carbon credits from a compatriot carbon market participant to offset residual greenhouse gas (GHG) emissions from a shipment of Arabian light crude.
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Rich-poor divisions threaten to delay and weaken next round of Paris pledges, report warns

Carbon Pulse - Wed, 2024-08-07 23:40
A growing rift between developing and developed countries over how to interpret last year's Global Stocktake of Paris Agreement progress, and ongoing negotiations over a new climate finance goal, threaten to delay and weaken the third generation of national pledges, a think-tank warned on Wednesday.
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Industry set to suck up lion’s share of Flanders’ ETS revenue out to 2030, report argues

Carbon Pulse - Wed, 2024-08-07 23:37
Heavy industry will consume as much as 80% of the EU ETS revenue earmarked for the Belgian region of Flanders from now to 2030, leaving scant funding behind to finance decarbonisation and a just transition, according to analysis by an environmental think tank.
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FEATURE: Commonwealth promotes its model carbon tax, as CBAMs boost interest

Carbon Pulse - Wed, 2024-08-07 22:53
The Commonwealth of Nations is speaking to three jurisdictions about implementing a model carbon tax law that its secretariat published last year, and is planning to further promote the law at COP29.
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Verra updates voluntary carbon REDD methodology to match CCP definition

Carbon Pulse - Wed, 2024-08-07 22:39
US carbon credits certifier Verra has issued a ‘corrections and clarifications’ document to align the definition of ‘forest’ to that of the Core Carbon Principles (CCP) Assessment Framework of the Integrity Council for the Voluntary Carbon Market (ICVCM).
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Commodities giant abandons coal divestment plans as shareholders object

Carbon Pulse - Wed, 2024-08-07 22:26
A large commodity firm has announced it will keep its coal business, less than one year after saying it would exit the sector, following shareholder pressure.
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Think tank launches framework to scale nature investments in Global South

Carbon Pulse - Wed, 2024-08-07 22:23
An Indian think tank has launched a framework to try to drive investments in nature-based solutions (NBS) in the so-called Global South by measuring their potential benefits.
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ACCU issuance hits new yearly record even as July trade slumps

Carbon Pulse - Wed, 2024-08-07 22:20
Issuance levels for new Australian Carbon Credit Units (ACCU) hit a new high in financial 2024, exceeding record volumes in 2023, even as trade in July hit a nine-month low, a carbon consultancy said this week.
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US emissions monitoring company launches carbon credit trading platform, completes first transaction

Carbon Pulse - Wed, 2024-08-07 22:08
A US company specialising in environmental measurement technology has announced the launch of its carbon credit trading platform, and the first transaction sourced from measured diesel engine emissions.
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Virgin Atlantic “100% sustainable aviation fuel” ad judged misleading

Carbon Pulse - Wed, 2024-08-07 21:48
Virgin Atlantic's pledge to run future flights on fully sustainable aviation fuel is misleading consumers, according to an official UK judgment published on Wednesday.
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ANALYSIS: Voluntary carbon market welcomes ICVCM renewables decision, cites limited price impact

Carbon Pulse - Wed, 2024-08-07 21:35
Voluntary carbon market stakeholders mostly welcomed the decision made by the the Integrity Council for the Voluntary Carbon Market (ICVCM) to reject renewables methodologies from the sought-after Core Carbon Principles (CCPs) quality label, adding that they expected a limited market impact.
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For those with power and rich donors – the AC is always on, even if it’s melting outside | George Monbiot

The Guardian - Wed, 2024-08-07 21:30

This has been a summer of extreme heat around the world. The Guardian is investigating how it harms our planet and leaves the world’s most vulnerable people exposed to its impact

A staple of dystopian science fictions is an inner sanctum of privilege and an outer world – chemical desert/airless waste/District 12 – peopled by the desperate poor. The insiders, living off the exploited labour of the outlands, are indifferent to the horrors beyond their walls. Well, here we are.

Even as extreme heat raged across the southern United States this summer, the governors of Florida and Texas struck down heat protections for outdoor workers. Construction companies and agricultural firms lobbied against the rights of workers to water, shade and rest breaks when temperatures soar – and Ron DeSantis and Greg Abbott, two men also lavishly funded by the fossil fuel industry, gave them what they wanted.

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Euro Markets: Midday Update

Carbon Pulse - Wed, 2024-08-07 21:18
European carbon prices struggled for direction on Wednesday morning amid the lack of a daily auction, wider macroeconomic and geopolitical uncertainty, and closely tracking a flat TTF gas market, as investment funds trimmed their net short position 25% last week, according to Commitment of Traders data.
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Scientists say nature-based credit markets must prove additionality before sales

Carbon Pulse - Wed, 2024-08-07 21:14
Nature-based carbon and biodiversity markets should only sell credits after their impact has been scientifically proven in a bid to make them credible and scale investments, a new study has said.
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Japanese power giant joins Australian CCS hopeful, government hands out more permits

Carbon Pulse - Wed, 2024-08-07 20:15
Carbon capture and storage work is ramping up in Australia as one project proponent handed two offshore permits last week on Wednesday announced another partnership with a Japanese giant, and the federal government handed out three new offshore permits.
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Spanish wind and solar projects secure loans to bolster EU energy independence

Carbon Pulse - Wed, 2024-08-07 19:45
Two renewable energy projects in Spain will borrow €85 million from the European Investment Bank (EIB) under EU plans to reduce dependence on fossil fuel imports.
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Chinese dairy firm to introduce biogas project, create international credits

Carbon Pulse - Wed, 2024-08-07 19:16
A dairy product supplier in China is planning to tap into the international carbon market by launching a biogas utilisation project. 
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Singapore sends energy transition bill to Parliament for first reading

Carbon Pulse - Wed, 2024-08-07 19:10
Singapore has introduced an energy transition bill to Parliament for its first reading to progress its decarbonisation process via introducing guardrails for the electricity market, strengthening the Energy Market Authority’s (EMA) ability to regulate the power sector, and establishing the Future Energy Fund.
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