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A significantly below-market auction dragged EUA futures lower on Wednesday morning as prices slumped 1.2%, though higher energy prices reacting to colder weather forecasts offered some support.

EU co-legislators have struck a provisional political deal in the early hours of Wednesday that would have flights within the bloc paying for all their CO2 emissions from 2026.

The push for a ‘nature positive economy’ through initiatives such as biodiversity credit trading risks is doomed to be an environmental failure and should be stopped, according to an EU-based green finance group.

Pressure is increasing on world leaders to make progress at the UN biodiversity summit – but the pile of unfinished tasks is mounting

All procrastinators know the feeling: an enormous task is not close to being finished, time is slipping away and the pressure to act has become impossible to ignore. But despite the mounting unease, there is still not yet enough pressure to take action, and it is unclear if there ever will be.

At the Palais des congrès de Montréal convention centre at Cop15, after more than two years of delays, there is a sense that governments tasked with agreeing this decade’s targets for protecting life on Earth are in just such a situation.

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Fighting the climate emergency is only one side of the story. Science tells us we must tackle the biodiversity crisis at the same time as addressing global heating to save the planet from further catastrophe.

Both crises centre on carbon. Burning carbon in the form of fossil fuels has led to global heating, and that needs to stop, but biodiversity – nature – is also built on carbon and it can be part of the solution. 

The Age of Extinction reporter Phoebe Weston explains how the Cop15  summit in Montreal  is a once in a decade chance to stop the loss of biodiversity and bend the curve to help save Earth.

• What is Cop15 and why does it matter for all life on Earth?
• Making sense of Cop15: what to look out for in Montreal
  

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A global biodiversity credit market could be based around a framework for determining biodiversity carrying capacity (BCC) and rules for who is able to trade various credit types, according to Paris-based consultants Carbone 4.

Concerns surrounding eligible methodologies for China's voluntary market continue to distress project developers, though the long-awaited relaunch of the country's national offset programme could be only months away, experts told Carbon Pulse.

Number of species on red list in the country doubled in last 20 years

The number of bird species seriously threatened in Wales has doubled in the last 20 years, with the rook, swift and greenfinch added to the red list.

A report from a coalition of conservation groups places 60 species on the red list, accounting for a quarter of the species in Wales – more than ever before.

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A group of international partners has launched an open-source metadata system to share information about carbon credits that aims to improve transparency for carbon markets, they announced on Wednesday.

Capacity factors for coal and gas fell below wind, solar and even rooftop PV in the month of November in the world's biggest isolated grid.

The post Capacity factors of wind, solar and rooftop PV beat coal and gas in world’s biggest isolated grid appeared first on RenewEconomy.

South Korean emitters covered under its domestic emissions trading scheme are concerned that its allocation plan will align with its 2030 NDC from 2026, providing limited time to cut emissions sufficiently to meet the national target, according to a market expert.

We have done the math on the profits multinational fossil fuel corporations will book in calendar year 2022 on export revenues. The cost to Australia is serious.

The post Fossil fuel majors are reaping obscene profits: A simple levy could protect Australians from hyperinflation appeared first on RenewEconomy.

Neoen wins development approval for what could turn out to be a 4GWh battery project located in the coal town of Collie.

The post Neoen wins approval for 4GWh battery to be built near retiring coal plants appeared first on RenewEconomy.

Not even bosses who steal wages off their workers go to jail

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Most large multinational automakers are struggling to electrify their fleets and secure access to critical battery materials despite these firms setting ambitious net zero emissions goals, a report has found.

ESB paper says EV charging could easily eclipse electricity demand from any other technology – but if managed well could also result in cheaper power for consumers.

The post EV charging will trump air-cons to be biggest single load on grid, but there are benefits appeared first on RenewEconomy.

Countries are meeting in Montreal for a once-a-decade opportunity to put nature on the path to recovery.

Fining and jailing Indonesian fishers taking shark fin is a knee-jerk solution. As long as sharks keep vanishing and demand for shark fin soup remains high, illegal fishing will continue. Anthony Schuyler Marinac, Lecturer, College of Business, Law and Governance, James Cook University Licensed as Creative Commons – attribution, no derivatives.

Moama’s council forced to reassure residents water is filtered and safe to drink after complaints over colour on social media

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Brown filtered water is likely to persist for months in Murray River towns from New South Wales down to South Australia, as communities continue to deal with the aftermath of major flooding.

The Murray River council in Moama was forced to reassure residents its filtered water supply was safe to drink after a string of social media complaints over murky tap water.

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Federal energy minister Chris Bowen to present new capacity mechanism that will look more like a storage target or NSW energy roadmap than a prop for coal plants.

The post Bowen to present new capacity mechanism that may look like storage target appeared first on RenewEconomy.