Feed aggregator

A Russian carbon project claims to have become the first for many years to have its emissions reductions checked under an international standard, a move that could pave the way for bringing the nation's climate projects onto the global market.

The Nigerian government is set to introduce a carbon pricing system that would see polluters pay the state per tonne of emissions, as well as develop a strategy for credit-generating climate projects for domestic and international use, according to local media sources on Tuesday.

An Australian market outlook has found that up to three-quarters of emissions reductions by facilities covered under the strengthened Safeguard Mechanism could be done at source, while finding the price for Australian Carbon Credit Units (ACCUs) could reach A$54-90 ($37-62) by 2030.

The failure of the review into the Australian carbon market to address fundamental flaws in several key methodologies could undermine the integrity of the government’s overhauled Safeguard Mechanism and flood the market with tens of millions of “junk” credits, according to two new studies released on Wednesday.

EUA prices dropped sharply late on Tuesday morning after the European Parliament approved the REPowerEU package that will see €20 billion worth of EUAs sold into the market through to 2026, while energy markets rallied after gas margins were said to have risen close to fuel switching levels on Monday.

Members of the European Parliament on Tuesday voted to adopt the REPowerEU deal provisionally reached in December, one of the final steps before the legislation can pass into law.

Lawsuit alleges Bolthouse Farms deceived customers by claiming Green Goddess smoothie is made with ‘100% fruit juice’

A new class-action lawsuit alleges US beverage maker Bolthouse Farms deceived customers with claims that its Green Goodness smoothie is made of “100% fruit juice” after testing found the drink contains toxic PFAS, a synthetic chemical, at levels far above federal advisory drinking water limits.

PFAS are a class of about 12,000 chemicals typically used to make thousands of consumer products resist water, stains and heat. They are called “forever chemicals” because they do not naturally break down, and they are linked to cancer, fetal complications, liver disease, kidney disease, autoimmune disorders and other serious health issues.

Continue reading...

The investment arm of Ingka Group, the largest owner and operator of IKEA, has invested €30 mln in a London-based fund focused on the blue economy, including food security and healthy marine and coastal ecosystems.

Almería was an off-grid paradise, but I like to think I’ve brought part of it back to the city with me

I take one last look at the lush valley below me. A tall palm tree sways in the soft warm breeze. A group of young people are working on one of the many vegetable and fruit terraces, their laughter mixing with the sound of water in the riverbed below. I tell myself that one day I will be back. But for now, it is goodbye. I’m leaving the eco-village in southern Spain, this cluster of old, whitewashed houses set in a green valley where I’ve spent the past six years.

My partner and I first arrived in Los Molinos – in Almería province, the driest part of Spain – in 2006, after a long spell in north London. Our experience of eco-living was limited to regular recycling and buying biodegradable laundry and bathroom products. In Spain, we had to learn how to live completely off-grid. All our electricity came from the array of solar panels in the garden, which meant we couldn’t have energy-hungry devices such as toasters and electric kettles. We even had to forgo the internet because there was no connection.

Continue reading...

With momentum picking up quickly for the emerging voluntary biodiversity credit market, a European business group has set up a three-year working group for members to grapple with its fundamental challenges and opportunities.

Greens make formal offer in support of Labor's Safeguards Mechanism, but only if it is tweaked to prevent new coal and gas projects.

The post Greens lay down law to Labor on safeguard bill – no new coal or gas, or no support appeared first on RenewEconomy.

Paper calls for assessment of impact of sound pollution on cetaceans before firms allowed to mine sea bed

Deep sea mining could be doing irreparable damage to blue whales and other rare marine creatures, scientists have warned.

A peer-reviewed paper published by the University of Exeter and Greenpeace Research Laboratories focuses on the overlap between cetaceans (such as whales, dolphins and porpoises) and target sites for deep sea mining, especially in the Pacific Ocean. The authors warn that urgent research is needed to assess threats to these mammals.

Continue reading...

Japan is preparing the launch of its domestic voluntary carbon market as a first step towards an emissions trading scheme, but participants are expected to take a wait-and-see approach for now, awaiting clearer market rules.

Shall I order the chicken, or the salmon? What does the science say about reducing pressure on the environment? When you take a big-picture view, the results can be surprising. Caitie Kuempel, Lecturer, Griffith University Licensed as Creative Commons – attribution, no derivatives.

Complaint says switching off tracking devices should raise ‘red flags’ with insurers, as it could be covering illegal fishing activity and puts crew’s lives at risk

When it comes to illegal fishing, London’s ancient business of ship insurance may not get much attention. But according to a new complaint, the UK capital’s insurance industry is partly to blame when fishing vessels “go dark” at sea by turning off their mandatory satellite tracking equipment.

In a filing to City of London watchdogs, the ocean conservation charity Blue Marine Foundation has argued that EU-flagged vessels operating in the Indian Ocean that go dark are in likely breach of international, flag state and coastal state law, and that the UK insurance industry is “enabling” them by continuing to provide cover, thereby putting seafarers’ lives at risk.

Continue reading...

The Australian government’s Clean Energy Finance Corporation (CEFC) has invested A$9 million ($6.3 mln) in local biotechnology company Loam Bio as part of the start-up’s successful A$105 mln Series B funding round to enhance CO2 removal with its microbial technology for cropping systems, the company announced on Tuesday.

As Cyclone Gabrielle wreaks havoc in New Zealand, the country's climate minister James Shaw has excoriated the parliament over climate inaction. Shaw, who is the co-leader of the Greens, noted how New Zealand had already faced its 'worst climate-related disaster in this country only two weeks ago'

• New Zealand minister decries climate crisis ‘lost decades’ in wake of Cyclone Gabrielle
• Cyclone Gabrielle devastates New Zealand’s North Island as minister says ‘this is climate change’

Continue reading...

CEC warns that Australia risks losing thousands of jobs and billions in funds to US unless the May budget can respond to Joe Biden's Inflation Reduction Act.

The post Australia’s hopes of becoming clean energy superpower threatened by Biden’s IRA appeared first on RenewEconomy.

A national state of emergency has been declared, with flooding and landslides devastating several communities. People have been trapped on roofs and houses have been destroyed as the storm lashes the North Island

• Follow the latest updates live
• Gabrielle devastates North Island as minister says ‘this is climate change’

Continue reading...

A massive four-hour battery that will be used to stablise electricity supply and cut reliance on gas will use Tesla's Megapack battery technology.

The post Tesla lands gigawatt hour order for Megapack batteries to help muscle out gas appeared first on RenewEconomy.