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Iceland and the European Commission have reached a preliminary agreement for Iceland's airlines to continue to receive free EU ETS emission allowances up to and including the year 2026, it was announced at a press conference following the Council of Europe summit in Reykjavik.

The funds to meet a $20 billion finance target for biodiversity by 2025, a key component of last year's landmark Global Biodiversity Framework (GBF), should not come from biodiversity credits, according to the Samoan minister for environment speaking during an event on Wednesday, with other stakeholders also suggesting the nascent market is not likely to be ready to scale sufficient finance within less than three years.

Just Stop Oil protesters disrupted a parliamentary committee hearing on the coronation's policing. As Matt Twist, the Met's temporary assistant commissioner, was addressing questions from MPs, activists behind Twist got up and began their demonstration. The feed was momentarily discontinued until the committee was resumed

• Senior Met officer denies political pressure to arrest coronation protesters

• Committee chair 'speechless' after hearing volunteer's coronation arrest by Met police – video

• · UK politics live – latest updates

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The EU’s carbon border adjustment mechanism (CBAM) regulation entered into force on Wednesday, but a long road ahead befalls policymakers that will iron out the details of implementation, including the CBAM's role in securing EU producers' global competitiveness.

EUA prices dropped on Wednesday morning amid Commitment of Traders data showing a modest cut in investment funds' net short position, though the final EU auction of the week appeared to steady the market, while UKAs continued to lose ground ahead of the afternoon's fortnightly auction.

Thirteen financial institutions, including AXA IM and Natixis Investment Managers, are developing a new worldwide database of avoided emissions factors and related company-level avoided emissions, aiming to provide clearer metrics in the drive towards net zero.

People trapped in a flat shouted for help as flood water engulfed entire houses in some parts of Italy.

At least five people have died and thousands were evacuated from their homes after rainwater formed devastating floods in northern and central Italy.

Fourteen rivers broke their banks in Emilia-Romagna and firefighters rescued citizens with helicopters or rubber dinghies from their roofs.

The torrential rains followed months of drought that dried out the land, reducing its capacity to absorb water, worsening the impact of the floods, meteorologists have said

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There’s a 98% chance of a record hot year by 2028, and a 66% chance of exceeding the 1.5°C threshold for at least that year, according to the latest World Meteorological Organization update. Andrew King, Senior Lecturer in Climate Science, The University of Melbourne Licensed as Creative Commons – attribution, no derivatives.

The world is likely to hit 1.5C of warming within the next five years because of rising carbon emissions.

UN agency says El Niño and human-induced climate breakdown could combine to push temperatures into ‘uncharted territory’

The world is almost certain to experience new record temperatures in the next five years, and temperatures are likely to rise by more than 1.5C above pre-industrial levels, scientists have warned.

The breaching of the crucial 1.5C threshold, which scientists have warned could have dire consequences, should be only temporary, according to research from the World Meteorological Organisation (WMO).

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Campaigners say development of huge Rosebank field in North Sea would drive climate breakdown

The Norwegian government is facing growing pressure to scale back its huge global fossil fuel expansion plans – including the development of a controversial new oilfield in the North Sea.

Climate activists from around the world descended on Stavanger in Norway last week to attend the AGM of the state-owned oil and gas giant Equinor. They warned that its plans to develop the huge Rosebank field in the North Sea, as well as other mega-projects in Canada, Brazil and Suriname, would drive climate breakdown with devastating consequences for humanity.

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Snowy Hydro has failed to meet many of the 125 environment conditions placed on its massive pumped hydro project, with audits finding a growing list of problems.

The post Snowy 2.0 “failing” on environmental basics, says withering new report appeared first on RenewEconomy.

Queensland may be trying to revive a rule change killed by the Supreme Court in 2019, to have electricians install all solar panels in the state.

The post Queensland seeks to change rules so only electricians can install solar, fix EVs appeared first on RenewEconomy.

Coalition nuclear culture warriors attack the CSIRO in their latest clown show in front of a Senate inquiry.

The post Coalition clown show on nuclear on full display in Senate inquiry appeared first on RenewEconomy.

Federal Labor promises a leg-up – and a home base – to businesses seeking to manufacture clean energy technologies and other climate solutions in Australia.

The post Labor announces specialist “growth centre” to nurture Australian made renewables appeared first on RenewEconomy.

Full-sized digital scans reveal shipwreck in stunning detail, showing unopened champagne bottles.

IRENA report says lessons learned from scaling up wind and solar to become cheapest options for new electricity generation must be applied to emerging technologies.

The post Like solar and wind, batteries and green hydrogen need low-cost finance – and lots of it appeared first on RenewEconomy.

Even if the industry could make the shift, there’s not enough land or renewable energy potential on Earth to produce all the sustainable fuels airlines need. Susanne Becken, Professor of Sustainable Tourism, Griffith Institute for Tourism, Griffith University Brendan Mackey, Director, Griffith Climate Action Beacon, Griffith University David Simon Lee, Professor of atmospheric science, Aviation and Climate Research Group Leader, Manchester Metropolitan University Licensed as Creative Commons – attribution, no derivatives.

A plastic removal project at a banana plantation in northern Queensland, Australia this week was registered under Verra’s plastic programme and became the second project to receive its WCC plastic credits.

The Australian Securities and Investment Commission (ASIC), the nation’s stock market watchdog, has highlighted the need for transparency, as it seeks to clamp down on greenwashing by corporate entities, while the price for Australian Carbon Credit Units has fallen.