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Industrial decarbonisation investor buys stake in London-based energy and carbon risk manager

Carbon Pulse - Wed, 2022-11-09 22:22
A London-based energy and carbon risk management firm has announced a private equity investment from a firm specialising in industrial decarbonisation.
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UPDATE – COP27: US climate envoy Kerry announces “light on detail” plan to decarbonise power in developing countries via corporate carbon credit purchases

Carbon Pulse - Wed, 2022-11-09 21:40
US climate envoy John Kerry on Wednesday at COP27 announced plans to enable companies to buy carbon credits to support developing countries accelerate their phaseout of coal power and expansion renewable power, aiming to develop a framework by the end of next year to scale the finance available, and confirming a partnership with a new African carbon market initiative launched earlier at the summit.
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China ETS should include cement and steel sooner to reduce CBAM impact, experts say

Carbon Pulse - Wed, 2022-11-09 21:20
China should expand the sectoral coverage of its national emissions trading scheme to include cement and steel as soon as possible to mitigate the impact of the carbon border adjustment mechanism (CBAM) proposed by the EU, a webinar heard on Wednesday.
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‘Significant’ moves on climate disaster funds lift Cop27 hopes

The Guardian - Wed, 2022-11-09 21:18

Small but symbolic moves at summit where finance is critical include new loss and damage money and debt relief

A series of symbolic moves on climate finance at Cop27 suggests positive momentum could be starting to build on a pivotal issue at the UN summit in Egypt.

The UK said it would allow some debt payment deferrals for countries hit by climate disasters, while Austria and New Zealand put forward funding for loss and damage, which is the cost of rebuilding in poorer nations after unavoidable climate impacts.

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'Small confusion': UN chief starts reading wrong speech at Cop27 – video

The Guardian - Wed, 2022-11-09 20:56

Pausing mid-sentence and flipping through his notes, UN secretary general, António Guterres, realised he was reading from the wrong speech. 'I'm going to speak to a group of young people afterwards and there was a small confusion. I apologise,' he told a huge crowd of attendees at Cop27 on Wednesday

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SK Market: Korean auction sees lacklustre interest as oversupply looms

Carbon Pulse - Wed, 2022-11-09 20:46
Interest in South Korea’s monthly CO2 allowance auction continues to decline, with traders picking up less than a quarter of the volume available at Wednesday’s sale amid continued oversupply in the market.
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'Are you a climate denier?': Guardian journalist questions World Bank president

The Guardian - Wed, 2022-11-09 20:11

The Guardian's biodiversity and environment reporter, Patrick Greenfield, questioned the World Bank president, David Malpass, about his record of climate crisis denial at the end of an event at Cop27 in Sharm el-Sheikh, Egypt. 

Malpass apologised in late September after saying he 'doesn't know' if he accepted climate science. He did not resign from his position. When asked several times if he was a climate denier, Malpass said: 'You know that I'm not, so don't misreport it.' He refused to answer any other questions

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Education secretary condemns arrest of LBC reporter at Just Stop Oil protest

The Guardian - Wed, 2022-11-09 20:05

‘Journalists shouldn’t get arrested for doing their job,’ says Gillian Keegan after arrest of Charlotte Lynch

Police have been criticised after the arrest of another journalist covering protests by Just Stop Oil.

Charlotte Lynch, a reporter at LBC, was challenged by officers from Hertfordshire constabulary while covering a protest by the climate activist campaign at junction 21 of the M25 on Tuesday morning.

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There’s one big subject our leaders at Cop27 won’t touch: livestock farming | George Monbiot

The Guardian - Wed, 2022-11-09 20:00

It’s on course to guzzle half the world’s carbon budget, so why are governments so afraid to discuss it?

There are just two actions needed to prevent catastrophic climate breakdown: leave fossil fuels in the ground and stop farming animals. But, thanks to the power of the two industries, both aims are officially unmentionable. Neither of them has featured in any of the declarations from the 26 climate summits concluded so far.

Astonishingly, the sectors themselves are seldom mentioned. I’ve worked through every final agreement produced by the summits since they began. Fossil fuels are named in only six of them. Just one hints at using less overall: the others propose only to improve efficiency (which, as we have known since the 19th century, can often paradoxically increase fossil fuel use), attempt technical fixes or, in the case of last year’s agreement in Glasgow, phase down “unabated” coal burning, while saying nothing about reducing oil or gas. Not one of them suggests extracting less. If fossil fuels are removed from the ground, they will be used, regardless of governments’ vague declarations about consumption.

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Is Fortescue looking for new technology partner for “world’s biggest electrolyser plant”

RenewEconomy - Wed, 2022-11-09 19:31

Andrew Forrest's plans for the world's biggest electrolyser factory were to include Plug Power. But the US based company is strangely silent about the project.

The post Is Fortescue looking for new technology partner for “world’s biggest electrolyser plant” appeared first on RenewEconomy.

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Cop27: protests in Sharm el-Sheikh as negotiations over crucial climate deal begin – live

The Guardian - Wed, 2022-11-09 19:28

After two days of speeches from world leaders, Wednesday’s discussions will focus on climate finance

Our environment correspondent, Fiona Harvey, has put a useful list together of how likely progress is at Cop27.

It’s terrible news for those who are still clinging to 1.5C but some surprising achievements could be grasped at the summit.

My country is not responsible for the climate crisis, but we’re suffering the effects. Now, rich countries are out to grab the huge gas reserves, and people are being dispossessed of their land. One million people out of the 23 million population are living in refugee camps because of gas. We say no to more gas finance. We won’t let Africa burn.

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COP27: Roundup for Day 3 – Nov. 9

Carbon Pulse - Wed, 2022-11-09 18:38
It’s Wednesday - Finance Day - at COP27 in Sharm el-Sheikh, and Carbon Pulse will keep you updated with developments throughout the day. Timestamps in local time (EEST, GMT+2).
Categories: Around The Web

Japan leads G20 in fossil fuel financing, promotes false solutions to climate change -report

Carbon Pulse - Wed, 2022-11-09 18:30
Japan is the world’s leader when it comes to public financing of fossil fuels, driving an expansion of gas use and promoting false solutions to climate change such as hydrogen/ammonia-co-firing and carbon capture that will only prolong the demand for hydrocarbons, a report has claimed.
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Bird flu is a huge problem now – but we’re just one mutation away from it getting much worse | Devi Sridhar

The Guardian - Wed, 2022-11-09 18:00

If the H5N1 virus jumps into the human population and more dangerous strains emerge, it could set off a new pandemic

Lockdowns are a horrible experience, but fortunately one that is in the past now. Unless, that is, you’re a domestic bird in Britain. Since 7 November, a UK directive has instructed all farmers to keep their birds indoors as part of a stringent measure to stop the spread of avian flu, or the H5N1 virus. This measure is intended to avoid infection of domestic birds from wild birds, and will result in tens of millions of chickens, ducks, geese and turkeys being brought inside for the foreseeable future. We’ve also seen island birds affected, resulting in the shutdown of human visitors to the Isle of May in Scotland for five weeks, among other measures.

Avian flu is known as one of the most infectious diseases: the R number, which was often discussed for the spread of Covid-19, can be as high as 100 for avian flu, meaning one bird can infect as many as 100 others. And the past few months have seen exponential spread of the virus, with Britain and Europe hit especially hard. A lab in Surrey that tests samples says it has seen a 600% increase in cases in the past three months.

Prof Devi Sridhar is chair of global public health at the University of Edinburgh

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Dry in the desert: Cop27 delegates get a taste of food and drink scarcity

The Guardian - Wed, 2022-11-09 16:00

Conference attenders in Sharm el-Sheikh ate ice-cream as food stalls and water fountains ran dry

A year ago, Irn-Bru proved an unlikely hit at Cop26 as delegates from around the world tried the Scottish delicacy for the first time. But in Egypt, the battle to find food and water at all has been a core part of the culinary experience at the climate summit.

In the first few days of Cop27, water fountains and refrigerators emblazoned with the logo of sponsor Coca-Cola stood empty in the African sun as thirsty delegates looked on. Stall workers argued with each other as the final few sandwiches, quiche slices and croissants ebbed away.

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Welcome to Cop27! And now a word from our sponsors | First Dog on the Moon

The Guardian - Wed, 2022-11-09 15:46

Make sure to grab your gift bag!

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Singapore passes bill to increase carbon tax, setting trajectory for S$50-80/t by 2030

Carbon Pulse - Wed, 2022-11-09 15:26
Singapore has passed the Carbon Pricing (Amendment) Bill, formally establishing an increase in its carbon tax in two stages to S$45 ($32) per tonne from 2026 and putting the country on a pathway for the tax to reach as high as between S$50-80/t by 2030.
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Oil and gas greenhouse emissions ‘three times higher’ than producers claim

The Guardian - Wed, 2022-11-09 15:00

Climate Trace reports half of 50 largest sources of greenhouse gas are oil and gas operations and many underreport their emissions

Greenhouse gas emissions from oil and gas facilities around the world are about three times higher than their producers claim, new data has shown.

Climate Trace, a project to measure at source the true levels of carbon dioxide and other global heating gases, published a new report on Wednesday showing that half of the 50 largest sources of greenhouse gases in the world were oil and gas fields and production facilities.

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“Poisoning our planet:” Greenwashing, deception and loss and fairness at COP27

RenewEconomy - Wed, 2022-11-09 14:42

UN Secretary General warns fossil fuel companies that using bogus ‘net-zero’ pledges to cover up massive fossil fuel expansion is “rank deception”.

The post “Poisoning our planet:” Greenwashing, deception and loss and fairness at COP27 appeared first on RenewEconomy.

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Swinburne lands grant to develop Australia’s first hydrogen powered drone

RenewEconomy - Wed, 2022-11-09 14:36

Swinburne University wins $1.3m grant from the Australian government to develop and trial the country’s first hydrogen propelled drone.

The post Swinburne lands grant to develop Australia’s first hydrogen powered drone appeared first on RenewEconomy.

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