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Prices for CORSIA-eligible offsets slid lower over the past week, although most standardised offsets barely budged amid turmoil in financial markets after the near collapse of Credit Suisse that could still have wider repercussions.

Recent allegations of widespread over-crediting in the voluntary carbon market (VCM) have raised questions of whether the dominant revenue model of offset standards bodies financially incentivises those involved to maximise issuance while compromising integrity.

Today’s IPCC report has given a ‘final warning’ to avert global catastrophe. We call on all world leaders to urgently transition to renewables

The cycle is repeating itself. A tropical cyclone of frightening strength strikes a Pacific island nation, and leaves a horrifying trail of destruction and lost lives and livelihoods in its wake. Earlier this month in Vanuatu it was two category 4 cyclones within 48 hours of each other. The people affected wake up having nowhere to go and lack the basic necessities to survive. International media publishes grim pictures of the damage to our infrastructure and people’s homes, quickly followed by an outpouring of thoughts, prayers and praise for our courage and resilience. We then set out to rebuild our countries.

The Pacific island countries are particularly vulnerable to the impacts of climate change, and Vanuatu is the most vulnerable country in the world according to a recent study. Our countries emit minuscule amounts of greenhouse gases, but bear the brunt of extreme events primarily caused by the carbon emissions of major polluters, and the world’s failure to break its addiction to fossil fuels.

Ralph Regenvanu is minister of climate change, adaptation, meteorology and geohazards, energy, environment and disaster risk management for Vanuatu

Seve Paeniu is the minister of finance for Tuvalu

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Scientists have delivered a 'final warning' on the climate crisis, as rising greenhouse gas emissions push the world to the brink of irrevocable damage that only swift and drastic action can avert. The Intergovernmental Panel on Climate Change (IPCC), made up of the world’s leading climate scientists, set out the final part of its mammoth sixth assessment report on Monday.

The comprehensive review of human knowledge of the climate crisis took hundreds of scientists eight years to compile and runs to thousands of pages, but boiled down to one message: act now, or it will be too late

• Analysis: Humanity at the crossroads
• Timeline: The IPCC’s reports

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IPCC report provides "unequivocal statement" that the economic benefits of limiting global warming to below 2°C outweigh the costs.

The post What price clean air? This benefit alone will cover cost of climate action appeared first on RenewEconomy.

Latest assessment from Intergovernmental Panel on Climate Change delivers crystal clear verdict on future of coal and gas and raises questions on offsets.

The post IPCC climate warning leaves no room for coal and gas, little room for offsets appeared first on RenewEconomy.

Historian Dan Snow assembled team to ‘secure the shark for science’ but head, tail and fin were gone

The discovery of a rare shark on a Hampshire beach is as valuable as the unearthing of an ancient treasure trove, an expert has said, as calls grow for the return of the head, tail and fin, which were removed before scientists could salvage the carcass.

The 2-metre (6ft) animal, believed to be a smalltooth sand tiger shark, would normally only be seen in warmer waters – and rarely anywhere north of the Bay of Biscay. Scientists believe the weekend discovery can help them learn more about how the species develops and lives its life.

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Ladybirds know how good they look, and they don’t keep it to themselves

The ladybird gets the first part of its name from Our Lady, The Lady, Mary. Its spots – seven, if you are in Europe – symbolise Mary’s seven sorrows, its red shell the cloak she wears sometimes, when she is feeling passionate or loving, or devoted to her son, or, when she’s in a particularly generous mood, devoted to all of humanity.

Ladybirds come from the coccinellid family of beetles, which comes from the Latin for scarlet. They were named by Pierre André Latreille, a priest who had grown up an orphan and was thrown into a dungeon during the French Revolution. He was released because he recognised a rare species of beetle. A physician had come to inspect the prisoners, and found Latreille preoccupied by an insect. The story is about to sound like a bible passage written by AI. The insect was very rare, Latreille told the physician. It was a “red-necked bacon beetle”. The physician took the beetle to a local physician, 15 years old, who, impressed, used his connections to get Latreille released from prison. Within a month, every other inmate was dead from “a notorious killing frenzy”. (As they say: God loves beetles.)

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Government urged to ratify UN convention in order to protect undersea areas like shipwrecks and now-submerged First Nations heritage sites

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The underwater world – from shipwrecks with human remains inside to First Nations sites that are tens of thousands of years old – needs better protection, a parliamentary committee has found.

Pirates have targeted second world war shipwrecks for scrap metal, looters have been trophy hunting in sunken boats and the bodies of drowned sailors have been disturbed in the process. Technological advancements mean Australia’s underwater cultural heritage is more vulnerable than ever, the committee heard.

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Commodity trading house Mercuria unveiled plans on Monday to invest $500 million in a new nature-based business to fund carbon and biodiversity projects.

EU member states have made modest progress in issuing EU emissions allowances for 2023 in the past fortnight, though a quarter of the bloc has still not started handing out permits, according to an update from the European Commission.

A child born now is likely to suffer, on average, three to four times as many climate extreme events in their lifetime as their grandparents did. Frank Jotzo, Professor, Crawford School of Public Policy and Head of Energy, Institute for Climate Energy and Disaster Solutions, Australian National University Mark Howden, Director, ANU Institute for Climate, Energy and Disaster Solutions, Australian National University Licensed as Creative Commons – attribution, no derivatives.

Technology is providing solutions but the climate forecast is worsening, scientists say in major report.

IPCC report says only swift and drastic action can avert irrevocable damage to world

• Analysis: Humanity at the crossroads
• Timeline: The IPCC’s reports

Scientists have delivered a “final warning” on the climate crisis, as rising greenhouse gas emissions push the world to the brink of irrevocable damage that only swift and drastic action can avert.

The Intergovernmental Panel on Climate Change (IPCC), made up of the world’s leading climate scientists, set out the final part of its mammoth sixth assessment report on Monday.

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EUAs resumed their downtrend on Monday morning amid widespread weakness in energy and financial markets after the Swiss government engineered the takeover of stricken Credit Suisse by UBS, as compliance demand continued to pick up but not sufficiently to outweigh speculative selling.

Majority in teal seats of Mackellar and Goldstein – and Labor’s Moreton and Bennelong – also say industry should not use offsets for emissions

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The majority of voters in several metropolitan areas support stopping new coal and gas projects and believe industrial polluters should not be able to use carbon offsets for all their greenhouse gas emissions, according to new polling.

The progressive thinktank the Australia Institute commissioned uComms to poll more than 800 residents in each of two “teal” electorates – Mackellar and Goldstein – and the Labor-held seats of Moreton Bennelong and Sydney.

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An Australian start-up has sold its first batch of Kelp Reforestation Credits to a commercial fishing company and has begun the process of developing a carbon credit methodology for kelp reforestation under two well-established carbon offset standards.

Fissures have emerged between G7 member states over the approach towards climate policy in the run-up to the group’s meeting of energy, climate, and environment ministers to be held in Sapporo, Japan next month.

Ofwat says new powers will be used if firms fail to reach performance and environmental goals

The UK water regulator is to use new powers to block companies from shareholder payouts if they fail to hit performance and environmental targets.

Ofwat, which in December heavily criticised some of the country’s biggest suppliers over the size of dividend payments relative to their financial performance, said the new rules will also mean water companies will “maintain a higher level of overall financial health”.

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The government of South Korea has been sued for backtracking on 2030 renewable energy commitments in its latest electricity plan, which has prompted concerns over the progress towards the country’s carbon neutrality goals.