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European carbon prices dipped on Wednesday morning, even as the weekly positions data showed that investment funds cut their bearish bets to the smallest in more than a year, while natural gas prices struggled amid reports that additional supply may soon be finding its way to Europe.

South Pole has announced the appointment of a new chief risk officer, hailing from a global bank, who will join the company in the new year.

Verra and the government of Amazonas have signed a memorandum of understanding (MoU) Wednesday on the sidelines of COP29 to collaborate on strengthening the Brazilian state's engagement with carbon markets.

From olive oil to butter, extreme weather is pushing up the cost of living and having a dramatic political impact. Economists need a solution

In the US, where Donald Trump swept the board last week, it was the experience of sharply increasing essentials prices, from food to energy, that glued together the Republicans’ new electoral coalition. About 75% of those voting Republican reported that they had faced “hardship” or “severe hardship” as a result of price rises; only 25% of Democrats said the same. When Trump asked if Americans felt better now than they did four years ago, the answer for most was a clear no.

Price surges are having political impacts. In elections this year in three of the world’s largest economies, incumbent parties were hammered by voters angry about their helplessness in the face of the steeply rising cost of essentials.

James Meadway is director of the Progressive Economy Forum

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A Germany-based nature tech company raised €1.6 million in pre-seed funding to scale its automated biodiversity monitoring platform, it announced on Wednesday.

South Korea’s latest monthly CO2 permit auction was again oversubscribed with an increase in the clearing price, while sentiment in the spot market continues to improve partly due to the relaxation of the carryover rules. 

The world’s leading companies are eyeing nearly $5 trillion in potential gains from climate action, more than doubling since 2018, according to analysis released Wednesday.

Australia’s Clean Energy Regulator has registered the nation’s second blue carbon project, which restores and enhances blue carbon ecosystems at a site that is part of a vast network of crucial habitats for migratory birds across East Asia and the Pacific.

Over 40% of reef-building coral species are at risk of extinction worldwide, according to a new assessment released Wednesday during the ongoing COP29 climate summit in Azerbaijan.

Edi Rama goes off-script, saying speeches ‘change nothing’ and calling for ‘common political will’

Mian Muhammad Shehbaz Sharif, Prime Minister of Pakistan, has joined a chorus of leaders using their speeches to call for more money to reach their climate goals - and specifying that they need grants rather than loans that saddle them with more debt.

“Without climate justice, there can be no real resilience,” he said. “I wouldn’t want other countries to face the fight Pakistan faced in 2022.”

Pakistan was devastated by floods two years ago, shortly before Cop27. The disaster added a sense of urgency to that year’s negotiations that helped pressure rich countries to set up a fund to pay for the losses and damages borne by poor countries. (You can read more on that from my colleague Nina Lakhani here.)

“Two years, I warned at the top of my voice that the future would never forgive our inaction,” said Sharif. “Today, I echo the same warning with greater urgency and fullest energy at my command.”

25 countries have announced a commitment to swift and ambitious climate action.

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A survey of over 100 companies has underscored the willingness of investors in carbon markets to pay strong premiums for Article 6-aligned credits.

Japan is preparing to add an offset methodology for direct air capture (DAC) projects to its national voluntary J-Credit programme. 

The new NSW benefit sharing guidelines have thrown up a potential problem for renewable and storage projects: Did they just cap developer contributions to community funds?

The post Renewable energy developers raise questions about apparent cap on community funds in NSW appeared first on RenewEconomy.

Chinese company completes world’s second-largest solar facility, a 3 GW PV farm built on an old cold mine, and starts first generation from the world's first gigawatt scale floating solar project.

The post China floats its first gigawatt scale offshore solar park, and completes 3GW PV project at old coal mine appeared first on RenewEconomy.

It is Day 3 at COP29, the second day of the World Leaders Summit. Parties are beginning to solidify positions on the new climate finance goal, expected to be the headline outcome of this year's UN climate event, though conflicts are also bubbling linked to the wider, tense political and diplomatic context. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (GMT+4).

Marine scientist uncovers the story behind Andruha's escape from Russian military training programme.

Questions raised over influence after 1,261 business and industry delegates registered for biodiversity summit in Colombia

Record numbers of business representatives and lobbyists had access to the UN’s latest biodiversity talks, analysis shows.

In total 1,261 business and industry delegates registered for Cop16 in Cali, Colombia, which ended in disarray and without significant progress on a number of key issues including nature funding, monitoring biodiversity loss and work on reducing environmentally harmful business subsidies.

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NT announces plans for a major renewable energy hub near Darwin focusing on solar and battery storage.

The post NT unveils plans for a $400 million solar and battery hub in Darwin appeared first on RenewEconomy.

Scientists including Australia's CSIRO warn that there is a 50% chance the world's "carbon budget" will be exceeded in six years.

The post Stubborn fossil fuel emissions threaten to blow global carbon budget appeared first on RenewEconomy.

For almost everyone but Tesla shareholders, the appointment of the world's richest man to "dismantle government bureaucracy" and regulation may not end so well.

The post “Manhattan Project of our time:” Did Trump just appoint Musk to drop a bomb on US economy? appeared first on RenewEconomy.