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European companies are stepping up their investment in climate action in the wake of the coronavirus pandemic and are expected to continue that trends, according to a European Investment Bank (EIB) report published on Thursday. 

The European Parliament will next week meet in Strasbourg to vote on several ETS-related reform bills, aiming to sign off on provisional deals to put shipping, buildings and road transport under carbon pricing, impose a carbon border adjustment mechanism (CBAM), and launch a Social Climate Fund. 

Corallivorous fish were regarded as harmful to coral but research suggests their poo could be keeping reefs healthy

The faeces of coral-eating fish may act as “probiotics” for reefs, according to a study.

Previously it was thought that corallivore – fish such as pufferfish, parrotfish and butterfly fish that eat coral – weakened marine surfaces. But new research suggests that by eating some parts of the coral and then pooing in different areas of the reef, they are part of a cycle that redistributes beneficial microbes that can help coral thrive.

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UK-based Oxygen Conservation has acquired two large Scottish estates totalling 23,000 acres to develop a major rewilding project, using a £20.6 million bank loan in what’s being called Britain’s largest-ever nature-based commercial debt deal.

There should soon be a discussion on whether the EU can meet 2040 emissions targets on its own or need to import mitigation outcomes such as removals, a European Commission official told an event Thursday, though stressing that this was not necessarily a view held across the EU executive.

Tech giant Microsoft has signed an agreement to buy some 5,000 tonnes of carbon removal credits from enhanced rock weathering (ERW) project developer UNDO.

A weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).

The French government has become the first in Europe to approve an accounting methodology for a carbon project that will protect the crucial Posidonia seagrass meadows along a stretch of coast overseen by the Calanques National Park.

European carbon declined on Thursday morning after a burst of selling took more than €2 off prices, as trading activity otherwise was low-key amid the tail-end of the holiday season, while energy markets drifted again amid healthy supply.

Carbon credit procurement platform Abatable has acquired rival Ecosphere+ using cash from a $13.5 million fundraise as part of an effort to reach a broader range of corporate clients.

Meeting the 30x30 target of the Global Biodiversity Framework (GBF) will be a major challenge for many countries, though OECMs – other effective area-based conservation measures – are increasingly seen as a useful tool, with IUCN this week showcasing how they could help Vietnam achieve its biodiversity commitments.

Data shows 48% of species declined between 2015 and 2020 with woodland birds faring worst

Bird populations in the UK continue to crash, new data shows, as campaigners predict the government will fail to meet its own nature targets unless radical changes are made.

Statistics released by the government show that bird populations continue to decline in the long and short term. In 2021, on average the abundance of 130 breeding species was 12% below its 1970 value. Though much of this loss was between the late 1970s and the late 1980s, caused mostly by relatively steep declines in woodland and farmland birds, there was still a significant 5% decrease between 2015 and 2020.

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A US-headquartered NGO has urged the International Monetary Fund (IMF) to instantly make significant funds available for biodiversity purposes and undertake institutional reforms to put nature loss at the heart of global financial reform.

Exclusive: previous holder says loss is ‘disappointing’ and damages UK’s ability to spur global climate action

The UK government has axed its most senior climate diplomat post, the Guardian can reveal.

The last special representative for climate change, Nick Bridge, stood down recently after six years in post and is not being replaced.

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Indonesia and the Philippines are working on a bilateral partnership on a reforestation project that might be joined by other ASEAN nations later in a novel push to generate carbon credits, according to local media, however the discussions are still in their very early stages.

A blockchain carbon offsetting platform on Thursday announced it will begin offering subscription-based credits to customers after acquiring a Vienna-based clean tech company.

The stockpile of NZUs in New Zealand’s ETS is starting to shrink, but participant’s surrender obligations have created a temporary bulge, according to newly released data, as the NZU spot price rallied following the release of the Climate Change Commission’s recommendations.   

Australia accounts for around 40% of the value of investment in the global clean hydrogen pipeline, but the large number of projects yet to reach final sanction means that its status as a global leader is under threat with other countries accelerating their policy support for the nascent sector, Energy Minister Chris Bowen warned on Thursday.

Albanese government dedicates $50m to Australia's pursuit of green hydrogen and metals, as new State of Hydrogen report reveals some colour blindness.

The post ARENA launches $50m green hydrogen and metals funding rounds appeared first on RenewEconomy.

Creating a new market for grid inertia is forcing market rule makers to choose between the dirty fossil past and the green energy future.

The post State of inertia: Regulators forced to choose between fossil past and green future appeared first on RenewEconomy.