Feed aggregator

The percentage of allowable offsets to be included in Colombia’s carbon tax reform remains a key point of contention among stakeholders closely following the ongoing tax reform debate process in congress.

Government’s ‘dangerous deregulatory agenda’ risks missing pledge to protect 30% of land and sea by 2030, says report

The UK will miss its key nature pledge to protect 30% of land and sea by 2030 unless it scraps plans to deregulate environmental protections, a new report has warned.

The UK is one of more than 100 countries committed to protecting “30x30” as a way to halt the destruction of the natural world. However, just 3.22% of land in England and 8% of the sea is being properly protected and managed for nature, according to the report from the environmental charities coalition Wildlife and Countryside Link (WCL).

Continue reading...

As big firms stop insuring coal, complex schemes unlikely to find expertise needed, says Insure Our Future

New coal power projects are becoming “effectively uninsurable” outside China because so many insurance companies have ruled out support for them, a report has found.

Recent commitments to stop underwriting coal by prominent US insurers AIG and Travelers have brought the number of coal insurance exit policies to 41, according to the latest industry scorecard by the climate campaign Insure Our Future.

Continue reading...

An Asia Pacific carbon and clean energy tech and services firm has acquired an Asia-based environmental and energy commodity markets brokerage company, as part of a strategy to offer end-to-end markets, tech and climate solutions for business.

Demand for CORSIA-eligible units will remain limited until at least 2024 with most airlines unlikely to need credits to comply with ICAO's recently-agreed weaker baseline, according to sector stakeholders, while many potential buyers are still confused about their compliance obligations and credit eligibility and will therefore stay on the sidelines until greater clarity emerges.

Labor unveils multi-billion dollar packages to support offshore wind, the Marinus Link and other transmission upgrades.

The post “This is a big deal:” Labor rolls out package for offshore wind, Marinus and Victoria renewables appeared first on RenewEconomy.

The Washington State Department of Natural Resources (DNR) and a major US developer announced on Tuesday the details of a public comment period for a sizeable forest protection offset project.

Corporate Australia is anxious about how much climate action will cost but still believes the country now needs to be thinking about net negative targets.

The post Australian business leaders still baulking at 1.5°C target, despite their net zero promises appeared first on RenewEconomy.

The Progressive Conservative government of the Canadian Maritime province of Nova Scotia on Tuesday presented an alternate plan for meeting Canada's federally mandated carbon price of C$65/tonne in 2023, which if passed would replace Nova Scotia's three-year-old cap-and-trade programme.

The state is going after five oil companies – ExxonMobil, Shell Oil, Chevron, BP and ConocoPhillips – for their role in the climate crisis

New Jersey has joined the ranks of Rhode Island, Delaware, Connecticut, Massachusetts, Minnesota and Vermont as the latest state to sue some of the world’s largest oil companies for their role in delaying climate policy and increasing the climate impacts, risks and costs borne by state governments. Like Minnesota and the District of Columbia before it, New Jersey has also included the industry’s top US trade group, the American Petroleum Institute, in its suit, which includes not only liability, but also fraud claims against five oil majors: ExxonMobil, Shell Oil, Chevron, BP and ConocoPhillips.

Some two dozen climate liability suits have been making their way through the courts since 2015, bolstered by media investigations and attribution studies that are able to accurately pinpoint the precise contribution climate change has made to the damages inflicted by extreme weather events. A 2021 study in the journal Nature, for example, found that just over $8bn (£7bn) of the $62.7bn (£55.3bn) in damages caused by Superstorm Sandy across New York, New Jersey and Connecticut, is attributable to sea-level rise caused by climate change.

Continue reading...

The UK government released its 2021-40 emissions projections on Tuesday, detailing progress towards climate goals while underscoring that further efforts will be needed to reach net zero GHGs by mid-century.

38 mammals have been driven to extinction since colonisation, and many more are close to joining them. We have the solutions at hand, but warnings continue to be met with mediocre responses. Euan Ritchie, Professor in Wildlife Ecology and Conservation, Centre for Integrative Ecology, School of Life & Environmental Sciences, Deakin University Licensed as Creative Commons – attribution, no derivatives.

Exchange operator ICE has unveiled a roadmap for participation in its upcoming voluntary carbon auctions, with the first such sale set to take place in December.

The European Commission will propose adding “EU financial firepower” to the bloc’s REPowerEU initiative to exit Russian fossil fuels, it said on Tuesday, making good on an earlier call by Commission President Ursula von der Leyen and raising the potential for a further raid on the EU ETS.

A new exchange has taken a step closer to launching a batch of voluntary carbon market futures that will soon be followed by a fresh approach to the liquified natural gas (LNG) market.

Intermediaries and investor profits accounted for a third of the traded value in the voluntary carbon market (VCM) in 2021, claimed a report published on Tuesday that proposed a more developer-centric model to finance small and mid-sized projects.

Climate Emergency Fund lauds National Portrait Gallery stunt and pledges to keep fighting against ‘mass delusion of normalcy’

The US funders of a climate activist group that poured tomato soup over Van Gogh’s Sunflowers at the National Gallery in London have vowed similar attention-grabbing stunts will take place in various countries in the weeks ahead.

On Friday, two young activists from the Just Stop Oil group entered the gallery, opened two tins of Heinz tomato soup and hurled them over the painting, which is protected by a pane of glass. As onlookers exclaimed “Oh my gosh!”, the activists glued themselves to the wall beneath the painting.

Continue reading...

A new survey suggests the majority of Australian businesses want the government to set more ambitions emissions reduction targets, and that getting to net zero by 2050 is not fast enough, as uncertainty dominates the domestic carbon market.  

European carbon prices eased lower in very light trading on Tuesday ahead of news from Brussels on measures to limit gas price increases, though there was also a growing sense that the market is losing direction after analysts recently adjusted price forecasts downwards.

Global capacity of carbon capture utilisation and storage (CCUS) is set to grow six-fold over the rest of the decade to around 280 million tonnes per year, although this rate of growth is still not fast enough to meet climate goals, according to research by an energy consultancy released on Tuesday.