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The Inter-American Development Bank (IDB) has become the first multilateral development bank to pilot a financing tool that rewards countries for achieving nature and climate goals, it announced Wednesday.

Unique compressed air long duration storage facility to be hosted in Broken Hill's iconic silver mine, to provide back up power to the town and replace ageing diesel generators.

The post Broken Hill mine offers disused cavern to host world’s biggest renewable air storage facility appeared first on RenewEconomy.

Australia’s environment does not have sufficient legal protection from climate change, as outlined in a new report from the Climate Council Australia. David Karoly, Professor emeritus, The University of Melbourne Licensed as Creative Commons – attribution, no derivatives.

A daily summary of our news plus bite-sized updates from around the world.

Clean Air Fund says despite increased spending on air pollution, projects still receive less than 1% of funding

Governments, agencies and development banks have spent more aid money on clean air than fossil fuels for the first time on record, a report has found.

However, such projects still receive less than 1% of international development funding, according to the Clean Air Fund, an environmental charity.

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California took a slower pace in the issuance of compliance offsets over the last two weeks, including of those tagged with direct environmental benefits (DEBs), although it continues to distribute credits faster than last year, data from state regulator ARB published Wednesday showed.

The quality of carbon credits has become the uppermost concern for offset buyers in the voluntary carbon market (VCM) looking to defend their purchase decisions under the onslaught of scrutiny from stakeholders, according to a recent market survey. 

PREMIUM LISTING - We are seeking a Carbon Standards Specialist to work with our technical and business development teams to ensure we provide our customers with the best advice about which methodologies and standard to use, what approach to take, and to lead the process of drafting and obtaining approval for methodology deviations or similar where this is necessary.

Renewable Fuel Standard (RFS) credit values fell into the double digits this week as traders said strong biomass-based diesel production and financial players selling was exacerbating a months-long drop in the price of RINs.

A Brazil Senate committee on Wednesday for the third time delayed a vote on cap-and-trade legislation, which in the most recent instance will involve discussing proposed amendments from the country’s agribusiness lobby.

California electricity sector CO2 output maintained its 10-year decline through August, as the share of renewables and hydroelectricity continued to climb while imports decreased compared to 2022 levels, according to data published Wednesday.

The loss of Britain's wildlife is outpacing efforts to conserve and protect nature, a major report reveals.

Sweet Briar Marshes has been created in heart of city with fewer public footpaths than any other in England and Wales

Hidden between a hectic ring road, a chemicals factory and housing estates are 36 hectares (90 acres) of “a green beating heart, pumping nature” into the surrounding city.

Traffic noise and sirens are muffled by ancient oaks, while late-season dragonflies sweep over hawthorns laden with blood-red haws as a kestrel hovers, head down, searching for field voles hiding in the tufty grasses.

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The PM continues to play politics with the climate emergency. The dismal consequences will long outlast his time in office

On Tuesday, the head of the International Energy Agency (IEA) pleaded with governments to up the pace in reducing the world’s dependence on oil and gas. A “strong signal to energy markets” was needed, said Fatih Birol – one which indicated that governments are taking the climate seriously. Wealthy countries, he added, having disproportionately contributed to historical carbon emissions, bear a special responsibility as the climate begins to change at “frightening speed”.

On Wednesday Britain certainly sent out a signal. But it was hardly the one the IEA would have hoped for. Instead, the green light was given for the exploitation of the United Kingdom’s largest untapped oilfield. The Rosebank project in the North Sea has the potential to deliver 500m barrels of oil, which, when burned, would emit the same amount of carbon dioxide as the running of 56 coal-fired power stations for a year. Tax incentives offered to the Norwegian energy company Equinor will effectively subsidise a development certain to undermine the country’s credibility in future climate negotiations.

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Zimbabwe has backed down on forcing project developers to hand over a quarter of their share of proceeds from credit sales to local communities, the government announced Wednesday, following a backlash from investors and market participants.

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The EU risks losing a sizeable chunk of the truck manufacturing market to competitors such as the US and China by 2035 if it does not adopt high CO2 standards for heavy-duty vehicles, according to NGO-commissioned analysis published on Wednesday.

Amidst sentiments of distrust in nature-based solutions and a stuttering voluntary carbon market (VCM), a once-billion-dollar-valued agtech company remains confident in its plan to scale up soil carbon offset generation, while others in the sector forecast more conservative economics.

The 21 members of a UK-France government-initiated panel aiming to galvanise international biodiversity credit markets have been announced.

A group of environmental finance organisations have set out a vision for high-integrity marine natural capital markets for the UK in a new consultative report, which they hope will help close an estimated funding gap close to £50 billion for marine ecosystems.