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The High Ambition Coalition for Nature and People (HAC for N&P) on Tuesday launched a financial mechanism to provide small-scale grants aimed at helping developing member countries achieve their “30x30” biodiversity targets.

European ministers signalled strong momentum for reforming the EU Emissions Trading System for heating and transport (ETS2) at an Environment Council on Tuesday, with a majority of the bloc's 27 members pushing for revisions to address price volatility and household impacts.

Analysts forecast that sectors covered by the EU ETS2, which is due to come into force in 2027, could see around a 20% drop in emissions by 2030 compared to 2023, and that prices would reach around €100/tonne by the same date.

Exclusive: Conservation advocates say assessment shows controversial NT project ‘shouldn’t get past the starting gun’

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Two threatened mammal species could be wiped out at the site of a proposed industrial development on Darwin harbour backed by $1.5bn in federal funding, according to a leaked environmental assessment.

Conservation advocates say it shows the controversial Middle Arm industrial project “shouldn’t get past the starting gun based on impacts to nature”.

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A Sao Paulo-based reforestation carbon removal (CDR) project developer announced Tuesday it has secured $30 million in a Series A funding round.

A public-private partnership spearheaded by Egypt’s Financial Regulatory Authority (FRA) will launch carbon credit insurance in the coming months, an official told a webinar Tuesday.

A Ukrainian agricultural group plans to expand the land area enrolled in its carbon farming programmes this year and continue its investment in renewable energy, while also including bioenergy with carbon capture and storage (BECCS) in its longer-term roadmap, according to its latest annual report.

The term 'net zero' is a fraud that has allowed fossil fuel emissions to keep rising faster, as carbon credits earn money for bankers but do little to protect the environment, the head of a multinational company said on Tuesday.

Voluntary carbon registry Gold Standard has published additional information on the next steps for project developers and verification and validation bodies (VVBs) as part of a transition period for its assurance management processes.

Indonesia’s Just Energy Transition Partnership (JETP) secured $60 million on Tuesday to fund a 92 MW solar power project, signalling that despite the US exit earlier this year, the partnership that aims to help the Southeast Asian country reach net zero emissions by 2060 is alive and kicking.

An African nature accelerator has relaunched, aiming to help raise millions of dollars in a second cohort with a different focus following obstacles in the biodiversity credit market.

Pricey power is the biggest obstacle to the UK’s decarbonisation, standing in the way of a faster shift to heat pumps, electric vehicles, and the wider rise of electrification, energy experts said on Tuesday.

Former PM claims net zero policies losing public support and says there should be greater focus on carbon capture

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Tony Blair has warned that any strategy based on phasing out fossil fuels in the short term or limiting consumption is doomed to fail.

Calling for a reset of action on climate change, the former prime minister suggested the UK government should focus less on renewables and more on technological solutions such as carbon capture.

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A satellite launched Tuesday under a European programme is the first to map global forest biomass and carbon in 3D from space.

BP has reported a year-on-year drop in profits in the first quarter after a slide in oil and gas prices, increasing pressure on the board to redirect the energy company's strategy back to the energy transition.

Russia’s Sakhalin climate imitative has entered its implementation phase with the first carbon unit transaction, the country’s carbon registry announced this week.

European carbon allowances rallied just before midday on Tuesday, clawing back some of a second day's decline as natural gas prices continued to crumble under the weight of healthy LNG supply and news that German was mulling relaxing its national storage mandate.

The recently added members of the BRICS bloc are building over 10 times as much coal, oil, and gas capacity as wind and utility-scale solar, according to a report released Tuesday, which found that Chinese finance and construction majors are still backing new fossil projects in these nations.

China has laid out this year's policy priorities for regional governments to speed up the construction of spot power markets, according to a government notice published Tuesday, its latest bid to accelerate power system reforms seen vital for its carbon price to be effective.

Three natural disasters in 2023 and 2024 will add $51m to Queenslanders' electricity bills over the next two years. Future rises might be bigger.

The post Queensland electricity users hit with $51m in natural disaster costs appeared first on RenewEconomy.