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Integrity, innovation, and incentives need to combine for the carbon market to evolve to meet its potential, one of the world’s largest project developers has urged.

The European Commission has announced plans to create an ‘Industrial Decarbonisation Bank’, aiming to mobilise €100 billion in the next 10 years to help energy-intensive industries meet their climate goals, with funding drawn partly from the EU’s Emissions Trading System (ETS).

Orsted has installed key components at two power stations as part of Denmark’s first full-scale carbon capture and storage (CCS) project, the Danish energy firm announced this week.

The European Commission wants to fast-track a proposal to delay two corporate reporting policies aimed at boosting environmental and climate transparency and accountability in the private sector, it announced on Wednesday as part of the Omnibus regulation.

The UK government published its National Biodiversity Strategy and Action Plan (NBSAP) on Wednesday, committing to achieving all the 23 targets of the Kunming-Montreal Global Biodiversity Framework (GBF).

A US-headquartered developer of nature-based carbon removal projects has completed the first issuance and sale of improved forest management (IFM) credits, in a series of deals valued at $2.2 million.

The shipping industry should become more proactive in its management of EU ETS compliance, as the sector faces an increasing compliance obligation with prices forecast to rise, and start hedging EU Allowances, according to a carbon and environmental products trader.

Australia’s forest sector is missing a key opportunity to contribute to the nation’s carbon market, with less than 1% of the country’s vast forest estate currently eligible to participate, according to a new study.

Closing the climate finance gap will depend on the implementation of holistic national carbon pricing strategies that integrate economic, social, and political factors, according to a report released this week.

BP is to drastically reduce investment in the energy transition in a major pivot back to fossil fuels, the company announced Wednesday.

First pumped hydro project win for a long duration storage tender in Australia, along with another two eight-hour batteries in landmark result that sees falling prices.

The post Prices fall as first pumped hydro and two eight hour battery projects win landmark storage tender appeared first on RenewEconomy.

European carbon prices were little changed at midday after earlier slipping to a new year-to-date low as the market was assailed by bouts of selling pressure inspired by natural gas volatility, while weekly Commitment of Traders data showed speculative traders cut their net long position by more than 14% last week.

Two more utilities reported a significant drop in EU ETS-covered electricity generation in 2024, in annual results published this week.

India plans to require its cement sector to reduce energy-based emissions by 20% over six years, establishing a CO2 reduction trajectory as part of the country's Carbon Credit Trading Scheme (CCTS), according to government documents seen by Carbon Pulse.

South Korea is seeking to build an intergovernmental cooperation model and expand support for international emissions reduction projects, as current progress is seen as insufficient for the East Asian country to secure enough carbon credits to meet its 2030 climate target, according to policy documents published Wednesday.

A carbon project platform has partnered with an SaaS firm specialising in process intelligence to support the scaling of carbon removal initiatives through forward purchases of carbon credits.

A major Indonesian steelmaker with over 1 million tonnes of capacity a year has committed to producing lower-carbon products after announcing a partnership with a European company hoping to meet EU steel demand without having to buy additional CO2 allowances under the carbon border adjustment mechanism (CBAM).

Perth’s state library theatre was packed out on Tuesday night last week to hear climate and energy policies from the main political parties and from a community independent.

The post “A tricky dance getting out of coal:” Why Australia’s biggest state and its biggest grid needs a climate bill appeared first on RenewEconomy.

Less than 100 days after entering office, the new European Commission unveiled its flagship Clean Industrial Deal initiative on Wednesday, outlining measures to reduce energy costs for businesses while doubling down on climate with the confirmation of an upcoming 90% decarbonisation target for 2040.

It’s time to rethink how climate action succeeds. The key is to acknowledge that it’s never the sole force driving political decisions

We are witnessing the most devastating climate disasters on record: wildfires ravaging Los Angeles, deadly floods in North Carolina, and global temperature records shattered month after month. We have officially surpassed 1.5C of warming, a critical threshold scientists have long warned against. At the same time, the US is scaling back policies, freezing critical programs and shifting priorities away from climate action.

But now isn’t the time to give up on climate action. Instead, it is high time to rethink how it succeeds.

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