Feed aggregator

Over-the-counter (OTC) deals for project-specific, nature-based voluntary carbon credits are maintaining a healthy premium over standardised future contracts despite the recent slump in underlying prices, market sources told Carbon Pulse Wednesday.

To achieve a target of 82% renewable energy generation by 2030 requires a huge number of new sites for solar and wind farms. Cheng Cheng, Research Officer, School of Engineering, Australian National University Andrew Blakers, Professor of Engineering, Australian National University Anna Nadolny, Research Officer, 100% Renewable Energy Group, Australian National University Licensed as Creative Commons – attribution, no derivatives.

Humans are expert pattern-finders. But artificial intelligence tools are better at trawling through vast data sets to find anything from waste dumps to heat-tolerant corals. Philipp Bayer, Adjunct Research Fellow, UWA Oceans Institute, The University of Western Australia Ahmed Elagali, Research associate, The University of Western Australia Julie Robidart, Adjunct Senior Research Fellow, UWA Oceans Institute, The University of Western Australia Kate Marie Quigley, Adjunct Senior Research Fellow, James Cook University Licensed as Creative Commons – attribution, no derivatives.

5B, the Australian company specialising in low cost solar and rapid deployment, lands major funding deal with oil giant bp, and hopes to build its first big solar farm soon.

The post Australian low cost solar innovator 5B lands major funding deal with oil giant BP appeared first on RenewEconomy.

The December Nova Scotia cap-and-trade auction cleared roughly in the middle of the scheme’s price floor and all-time high settlement, according to results published Wednesday, though companies are reportedly still very short as the Canadian province’s carbon market gets ready to wind down at year-end.

EUAs rallied after dropping to their lowest in ten days on news that co-legislators agreed to use some EUAs from the market stability reserve to help fund the EU's efforts to shift away from Russian fossil fuels, while December options contracts expired quietly.

Delegates from developing nations leave discussions as divisions grow over who should pay to protect biodiversity

Divisions between developed and developing nations over who should pay to protect Earth’s ecosystems are threatening to derail a UN biodiversity summit after a group of developing countries walked out of discussions overnight.

In echoes of last month’s Cop27 climate summit in Egypt – where countries agreed to create a new fund to compensate loss and damage from global heating in vulnerable nations – countries from the global south left Cop15 talks on Wednesday due to disagreements over finance.

Continue reading...

One of the world's biggest banks will end fossil fuel financing as part of efforts to become "net zero".

In Montreal, progress on biodiversity issues has been slow. We cannot go on like this

Even by the glacial standards of UN biodiversity negotiations, Cop15 has been slow. We have been in Montreal for more than a week and I am flabbergasted at the lack of progress, especially after how important several world leaders said the summit would be.

There is still time to turn it around. But there is no political urgency behind the biodiversity crisis or any desire for transformative change, as far as I can tell. Greta Thunberg’s “blah, blah, blah” criticism of government negotiations on the environment is proving right as things stand, unfortunately.

Continue reading...

The auto giant behind car brands including Jeep, Dodge, and Alfa Romeo, says the corporate PPA will take it to the equivalent of 100 per cent renewables in Michigan by 2026.

The post Car giant Stellantis signs deal for 400MW of new solar in Michigan appeared first on RenewEconomy.

A group of rich industrialised nations will provide Vietnam with $15.5 billion to aid the country's transition away from coal and save an estimated 500 million tonnes of CO2 by 2035, as part of the third Just Energy Transition Partnership (JETP) deal that was agreed on the sidelines of the EU-ASEAN Commemorative Summit on Wednesday.

National park argues attempt by landowner to stop people sleeping overnight could restrict other ‘sedentary pursuits’

Banning wild camping on Dartmoor could also end up affecting birdwatching and rock climbing, lawyers for the national park have said, as a landowner tries to stop people sleeping overnight in the park.

The judge hearing the case, Sir Julian Flaux, the chancellor of the high court, has said he will give a judgment on the case early next year.

Continue reading...

Japan’s Ministry of Economy, Trade, and Industry (METI) on Wednesday proposed to start taxing fossil fuel imports and some other carbon-related activities two years earlier than its previous proposal, as the government continues to work on its plan to gradually roll out a comprehensive carbon pricing system this decade.

The Australian Greens Party has thrown its support behind the government’s energy price control legislation, in exchange for an electrification package it says will accelerate the country’s decarbonisation efforts.

An industry association for China’s iron and steel sector has released a set of draft requirements for emissions accounting and reporting,  as the ETS-destined industry is gearing up for its participation in the national carbon market.

Only four companies participated at Wednesday’s monthly KAU auction, with the clearing price dropping to a record low as traders await clarity on when the Korean carbon market will be aligned with the nation’s increased ambition under the Paris Agreement.

A group of 150 financial institutions with more than $24 trillion in assets under management on Tuesday called for delegates at COP15 in Montreal to secure an ambitious Global Biodiversity Framework for the post-2020 period, with clear targets to halt and reverse nature loss.

EU legislators reached a provisional deal early Wednesday on the REPowerEU package to accelerate the bloc's exit from Russian fossil fuels, agreeing that the €20 billion tranche financed from ETS auctions will come from a mix of the Innovation Fund and frontloaded member state-designated allowances but also involving an intervention with the supply-balancing MSR, according to two senior MEPs including Peter Liese.

Exclusive: In her first interview since being released from prison, Coco recalls how bushfires three years ago sparked her epiphany

• Get our morning and afternoon news emails, free app or daily news podcast

Deanna “Violet” Coco never imagined that she would end up in jail.

Three years ago Coco was an entrepreneur, living in Sydney and running an events management business. She had “never considered” engaging in the kind of protest which currently sees her facing a maximum of 15 months in prison.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

South Korea should use its influence as a global maritime leader to accelerate decarbonisation of the sector with a raft of policy measures that include expanding the scope of its own emissions trading scheme to include shipping, a joint report from two green policy think-tanks released on Wednesday said.