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Chile is leading Latin America in per capita foreign direct investments (FDI) thanks to how attractive the nation has become as a climate finance destination, the country’s economy minister said Wednesday.

With clean air projects receiving just 1% of aid, activists say nations ‘cannot continue polluting practices at expense of climate stability’

Foreign aid for fossil fuel projects quadrupled in a single year, a report has found, rising ​​from $1.2bn in 2021 to $5.4bn in 2022.

“This shocking increase in aid funding to fossil fuels is a wake-up call,” said Jane Burston, CEO of nonprofit the Clean Air Fund, which conducted the research. “The world cannot continue down this path of propping up polluting practices at the expense of global health and climate stability.”

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Two industry associations filed a lawsuit on Tuesday against California regulator ARB for its medium- and heavy-duty vehicles rules, alleging that the stricter emissions standards are unconstitutional.

The US Department of Energy (DOE) announced $29 million in funding for 12 carbon capture, utilisation, and storage (CCUS) projects on Wednesday.

Chile and the World Bank have launched a multi-year programme to support the development and harmonisation of carbon pricing initiatives in the South American country, representatives of both entities announced at the Chile Carbon Forum in Santiago on Wednesday.

Argentine legislators are drafting a national voluntary carbon market (VCM) law, coinciding with plans for an ETS, according to speakers at the Chile Carbon Forum in Santiago on Wednesday.

Canada pledged Wednesday to spend at least C$10 million ($7.3 mln) by 2030 to procure CO2 removal (CDR) services as part of a national strategy to reduce and compensate emissions from governmental operations.

Washington’s Allowance Price Containment Reserve (APCR) sale for the year sold about a third of the permits offered at a premium of about 41.2% compared to the secondary market futures price despite potential for the programme being scrapped by voters at the November elections, results published Wednesday showed, with traders debating how many and why any bidders had participated in the sale.

Rebates may well increase ownership but won’t overcome the main obstacles to riding e-bikes and e-scooters, which are lack of infrastructure and concerns about safety. Abraham Leung, Senior Research Fellow, Cities Research Institute, Griffith University Licensed as Creative Commons – attribution, no derivatives.

LATAM Airlines is looking to support carbon and biodiversity projects in Latin America as it strives to meet its sustainability goals without any regional sustainable aviation fuel (SAF) at its immediate disposal, the airline’s sustainability manager said Wednesday.

The UK’s plan to integrate greenhouse gas removals into its Emissions Trading Scheme (ETS) is designed to boost demand for credits at a time when the UK market faces turbulence and uncertainty, speakers said at Carbon Forward Expo London on Wednesday.

Chilean voluntary carbon market (VCM) stakeholders are launching a national carbon association in partnership with VCM standard and registry Verra, as per an announcement at the Chile Carbon Forum in Santiago on Wednesday.

A European Commission official said there is “no need to panic” about running out of EU ETS allowances in 2039, due to the expansion of the system’s scope to include additional sectors and auctioning of allowances for aviation.

Despite the growing interest in green hydrogen as a way to decarbonise hard-to-abate sectors, its high carbon abatement costs — driven largely by storage and distribution expenses — may hinder widespread adoption, according to new research.

How and when industrials start hedging allowances on the EU ETS will be key to price dynamics, but that behaviour may be delayed depending on the enforcement of the Carbon Border Adjustment Mechanism (CBAM), according to industry traders who spoke on Wednesday at the Carbon Forward conference in London.

The price of petrol and diesel is expected to jump on average by €0.50 per litre at the pump across Europe when the EU’s new Emissions Trading Scheme for road transport and heating fuels (ETS2) comes into force, analysts have said.

The brown bear, named 128 Grazer, also defeated her rival, Chunk, last year to win the title.

Denmark has thrown its weight behind calls for 'solidarity levies' to be imposed on sectors like shipping, aviation, and fossil fuel extraction, one month ahead of a UN climate summit that will be focused on agreeing a new global climate finance goal.

A Swiss climate technology company has launched a new entity that will take over key projects, such as transforming sulphur into ammonium sulphate fertiliser and developing carbon capture solutions, it announced on Wednesday.

Climate disasters risk pulling society apart. To survive we need solidarity – and only one ticket in the US election offers that

Even as the good people of Florida’s west coast pulled the soggy mattresses from Helene out to the curb, Milton appeared on the horizon this week – a double blast of destruction from the Gulf of Mexico that’s a reminder that physics takes no time off, not even in the weeks before a crucial election. My sense is that those storms will help turn the voting on 5 November into a climate election of sorts, even if – as is likely – neither Kamala Harris nor Donald Trump spend much time in the next 25 days talking about CO2 or solar power.

That’s because these storms show not only the power of global heating (Helene’s record rains, and Milton’s almost unprecedented intensification, were reminders of what it means to have extremely hot ocean temperatures). More, they show what we’re going to need to survive the now inevitable train of such disasters. Which is solidarity. Which is something only one ticket offers.

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