Feed aggregator

California Carbon Allowance (CCA) prices broke out of rangebound trade this week as state regulator ARB prepares to hold a workshop on emissions modeling for the Scoping Plan, while RGGI Allowance (RGA) values continued their recent trend of following movements in the WCI market.

The value of the primary voluntary carbon market (VCM) is expected to increase 20% in 2022 to $1.2 billion as a year-on-year increase in credit prices outweighs a dip in retirement volumes.

Two Mexican legislators on Thursday put forth an initiative that would require offset project operators to meet new social and environmental standards, with the draft legislation unveiled in the wake of a controversy earlier this year in which rural land holders were found to be paid well-below market rates for their offsets.

A major clean project developer is collaborating with an Indian energy company to launch a carbon credit marketplace that features an educational component.

Certifier Gold Standard aims to develop a new framework to help design and develop climate adaptation projects, aiming to spur funding for an area that has historically struggled to attract as much funding as mitigation.

*PREMIUM LISTING – BioLite seeks a candidate with well-developed quantitative skills, proficient English writing skills and at least three years experience with developing carbon finance projects.

Climate Investment Funds said on Thursday that it will earmark $1 billion to help South Africa and Indonesia transition away from coal-fired power in the latest financing effort for emerging economies.

In our land of drought and flooding rains, better water management should feature in every federal budget. The new budget delivers it – but not everyone is happy. Jamie Pittock, Professor, Fenner School of Environment & Society, Australian National University Licensed as Creative Commons – attribution, no derivatives.

Discerning whether that dark splodge in the water is a shark or just, say, seaweed isn’t always straightforward. In reasonable conditions, drone pilots get it right only 60% of the time. Cormac Purcell, Adjunct Senior Lecturer, UNSW Sydney Paul Butcher, Adjunct Professor, Southern Cross University Licensed as Creative Commons – attribution, no derivatives.

Uncertainty around the government’s proposed agricultural emissions pricing scheme is creating a vacuum in the public debate. Maybe it’s time to hand the reins to someone else. Zack Dorner, Senior Lecturer in Environmental Economics, University of Waikato Licensed as Creative Commons – attribution, no derivatives.

The EU’s carbon border adjustment mechanism (CBAM) needs to stay agile to recognise the evolving global geopolitical context and asymmetries of climate policies, with the US Inflation Reduction Act a prevalent example, a research group emphasised on Thursday.

The past year has been "wasted" as nations' updated climate plans accounting for a 1% reduction in emissions, according to a UN report published on Thursday, meaning the world will need to see dramatic societal and sectoral change this decade to avoid climate disaster.

Key UN reports published in last two days warn urgent and collective action needed – as oil firms report astronomical profits

The climate crisis has reached a “really bleak moment”, one of the world’s leading climate scientists has said, after a slew of major reports laid bare how close the planet is to catastrophe.

Collective action is needed by the world’s nations more now than at any point since the second world war to avoid climate tipping points, Prof Johan Rockström said, but geopolitical tensions are at a high.

Continue reading...

The new PM will not attend the COP27 conference in Egypt due to pressing commitments, No 10 says.

Four member states are expected to exceed their non-ETS emissions obligations for 2021, according to EU data published this week that shows governments are struggling to meet their goals despite some already facing hefty costs from buying intergovernmental EU carbon units for the previous year. 

Virginia Governor Glenn Youngkin (R) does not have the legal authority to rescind the state’s RGGI-linked cap-and-trade regulation next December, while an orderly exit needs to be ensured should the state follow through with leaving the power sector market, according to public comments published this week.

The risk of significant heavy industry capacity reduction in Europe is increasing, as major metal and chemical producers warned this week that output cuts due to extreme energy prices may soon become permanent, with experts suggesting that this may not be fully priced into the carbon market.

Downing Street announcement follows UK prime minister’s promise to prioritise environment

Rishi Sunak will not attend the Cop27 climate summit, Downing Street has said, despite the new British prime minister having promised this week to prioritise the environment.

His predecessor, Liz Truss, had reportedly planned to go to at least one day of the summit, but Sunak’s spokesperson said he had “other pressing domestic commitments”.

Continue reading...

Exclusive: Removing incentives due to replace EU scheme would leave rivers in ‘even more degraded state’

Weakening or scrapping the nature-friendly farming payment schemes could increase river pollution by up to 20%, an analysis has found.

The payments are due to replace the EU’s area-based payments scheme, in which farmers are paid for the amount of land they manage. The new system would instead pay land managers to provide “public goods” such as enhanced nature and clean rivers.

Continue reading...

A group of companies announced on Thursday a multi-year trial of carbon capture technology in the steel sector, with an eye to support full scale deployment through a design and feasibility study.