Feed aggregator

The US EPA on Friday presented new analysis to significantly raise the social cost of carbon (SCC) compared to current values, as a working group under President Joe Biden’s administration works to develop a final figure amid ongoing legal challenges.

Three UK countries ‘way above where we should be for this time of year’ says Met Office forecaster

Britain’s armed forces have gone on parade on the warmest Armistice Day on record, according to the Met Office, with the country on track for what could be an unprecedented 11th month of above average temperatures.

Unseasonably high temperatures led to “exceptionally mild” conditions across the UK, the forecaster said, with the record-breaking 19.5C recorded in Myerscough in Lancashire more than a degree warmer than the previous record of 17.8C at Kensington Palace in London.

Continue reading...

Malaysia’s stock exchange has revealed some key details about the set up of its voluntary carbon market (VCM) platform at the COP27 conference in Egypt, as it confirms its launch by the end of the year.

US president announces plan to cut methane emissions as he urges major economies to ‘step up’ efforts to keep global heating to 1.5C

Joe Biden has implored countries to do more to tackle the climate emergency, telling the Cop27 summit that world leaders “can no longer plead ignorance” and that time to confront the crisis is running out.

Biden told a large crowd of delegates at the talks, held in Egypt, that the “science is devastatingly clear – we have to make progress by the end of this decade.” The US president stated that America was taking action on cutting planet-heating emissions and that other major economies needed to “step up” to avoid a disastrous breach of 1.5C in global heating.

Continue reading...

Key topics are emerging in a newly-formed segment of COP27 UN climate talks in Sharm el-Sheikh, with negotiators considering sectoral approaches as they scramble to spur greater near-term emissions cuts to keep the Paris Agreement's 1.5C temperate goal within reach.

Billions of dollars from oil rich countries in the Arab Gulf could soon be flowing into voluntary carbon market (VCM) projects after senior representatives from Saudi Arabia's public investment fund (PIF) and the Islamic Trade Finance Corporation (ITFC) announced a fatwa, or legal ruling based on Islamic law, that will allow Islamic finance to be used for carbon credits, a side event at COP27 heard on Friday.

The US president also defends his country's climate leadership at the UN summit COP27.

Decisions on what type of projects will be eligible under a new UN carbon credit mechanism are expected to be delayed for a year, as governments approach the halfway point of two-week COP27 negotiations in Sharm el-Sheikh and discussions focus in on how to treat carbon removals specifically.

*PREMIUM LISTING - The Director of Carbon Strategy will be responsible for setting the course for d.light’s growing Carbon Program. As a social enterprise, d.light utilizes carbon revenues to lower the cost of sustainable, carbon offsetting products for our customers, which are primarily low-income households in rural Africa and Asia.

The Head of Research and Consultancy will be expected to manage the Research team and work hand in hand with the Marketing, Trading, Sales and Management teams at RAL

European carbon prices rose after European co-legislators agreed on key elements of reforms to the bloc's carbon market, including a more responsive automatic price-damping mechanism, but agreed not to limit access to the market for non-compliance participants.

It’s Friday – Decarbonisation Day – at COP27 in Sharm el-Sheikh, and Carbon Pulse will keep you updated with related developments throughout the day. Timestamps in local time (EEST, GMT+2).

Outcome of climate summit is crucial to ensuring strong targets at Cop15 in December, warns biodiversity head

The outcome of Cop27 will be crucial not just in terms of tackling the climate crisis but to help ensure a future for nature, the UN’s head of biodiversity has said, outlining plans for “a Paris moment for biodiversity” at Cop15 in Montreal in December.

“Clearly the world is crying out for change, watching as governments seek to heal our relationships with nature, with the climate,” said Elizabeth Maruma Mrema, executive secretary of the convention on biological diversity (CBD), at a media briefing on Thursday. “Scientists have told us in no uncertain terms … that climate change and biodiversity loss are intrinsically connected and that’s why we are looking at the [Cop15] framework as, basically, a Paris moment for biodiversity.”

Continue reading...

Indonesia has updated its national REDD+ strategy and plans to submit it to the UNFCCC next week, a government official told a panel discussion at COP27, as a UN REDD Programme report pushes for greater investment in forest-rich nations.

EU negotiators have agreed a united position on an EU ETS price spike measure and market oversight provisions but failed to make much headway on major sticking points during trilogue negotiations this week, the European Parliament's lead negotiator Peter Liese said on Friday.

Timor-Leste will focus on ‘nature-positive growth and transition’ as one of four key climate policy commitments, and will seek international cooperation under Article 6 guidelines in developing local carbon markets, according to its NDC submitted to the UNFCCC this week.

Allowance prices in China’s national emissions trading scheme remained stable over the past week despite the update on the long-awaited allowance allocation plan, while the offset market saw a plunge in trading volume amid severely limited supply due to policy uncertainty.

The US president will hold a press conference, while the theme of the day is decarbonisation

A Dutch artist is spending 11 days of Cop27 turning a 3068-page report on the horrors that await humanity into confetti, in an effort to show how we refuse to take climate science seriously.

Johannes-Harm Hovinga’s blistering performance – titled ‘There’s an elephant in the room’ – has him sitting in a chair with a hole-puncher for 10 hours a day.

Continue reading...

Environmental group pauses actions to give government ‘time to consider their responsibilities’

The Just Stop Oil protests that have disrupted the M25 motorway around London over the past four days are to pause, organisers have said, to give the government time to reconsider issuing fresh licences for oil and gas extraction.

The demonstrators said they had chosen Remembrance Day to halt the action to call on Rishi Sunak “to honour all those who served and loved their country” by ensuring a “liveable future”.

Continue reading...

Leading scientists and businesses have said that cuts to the government's research risks "stalling" efforts to make the UK a science superpower.