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CEFC allocates $160 million to allow Powerlink to supersize connection to Australia's biggest wind project and create a new renewable zone in the area.

The post CEFC money to supersize link to Australia’s biggest wind project, creating new REZ appeared first on RenewEconomy.

EUA prices dropped sharply in late morning trading on Wednesday as traders anticipated the UK allowance auction in the afternoon that was expected to lead to some selling of EUAs, while energy prices rose as tensions in Ukraine mounted after attacks on Russian forces in Crimea.

Australia’s Commonwealth Bank on Wednesday set targets for reducing its financed emissions in some carbon intensive sectors, while the weekly number of newly minted Australian Carbon Credit Units (ACCUs) fell to around 300,000.

The share price of Indian carbon offset developer EKI Energy Services slumped by nearly 20% on Wednesday in the fallout from India’s energy minister stating that the country would not export any carbon credits until it has met its international climate commitments.

Chinese observers are awaiting more policy clarity on the methodologies used for nature-based solutions, despite new development projects springing up across the country.

Whale had been lifted out of river as part of ambitious attempt to return it to sea

A beluga whale that strayed into the River Seine and began swimming in the direction of Paris has died during an ambitious rescue effort intended to help it back to its traditional cold Arctic waters.

The four-metre animal was euthanised by vets after it developed breathing difficulties while being transferred by road to the Normandy coast. Hours earlier, it had been lifted out of the freshwater of the Seine, where it could not survive.

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South Korea on Wednesday sold around 97% of the 2.3 million KAUs on offer in the environment ministry’s August auction, as the market remains upbeat over the projected reduced allowance surplus in the 2022 compliance cycle.

The Inflation Reduction Act is a big win for jobs and the environment, but Truss and Sunak have nothing similar to offer

Over the weekend, US Democrats overcame months of political struggle to pass the Inflation Reduction Act in the Senate, marking a major victory for the president, Joe Biden, and for “Bidenomics” before the US midterms.

The bill makes the single largest climate investment in US history, with $369bn for climate and clean energy. It is expected to enable the US to get two-thirds of the way towards its Paris agreement commitments while reducing energy costs. It lowers health costs for millions of Americans. It seeks to tackle inflation by directly reducing costs for individuals and by reducing the deficit through closing tax loopholes and increasing tax on corporates and the wealthy.

Carys Roberts is executive director of the Institute for Public Policy Research

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Opposition from vested interests – including oil refineries and the car dealership industry – has held Australia back on fuel efficiency. The onus is now on the Albanese government to intervene. John Quiggin, Professor, School of Economics, The University of Queensland Licensed as Creative Commons – attribution, no derivatives.

The New Zealand government’s lingering decision on whether to remove exotic plantations from the permanent category in the ETS is causing investor uncertainty in the forestry sector, while fears of the planting type’s impact on rural communities is unfounded, according to the industry. 

Inflation, energy bills and stagnant wages could mean destitution for millions. But Conservative ideology forbids offering answers

Has Boris Johnson ended his holiday? It’s hard to tell. He was never committed to government, even during national emergencies, as his serial absence from Cobra meetings at the beginning of the pandemic revealed. Now, while several national crises converge, he seems to have given up altogether. But his detachment is not just a pathology. It is also a doctrine. Absence is what the party donors paid for.

Whether physically present or not, recent prime ministers and their governments have prepared us for none of the great predicaments we face. They have looked the other way as the water companies failed to commission any new reservoirs since they were privatised in 1989, and allowed astonishing volumes of that precious commodity we call treated drinking water – 2.4bn litres a day on current estimates – to leak away. It’s a carelessness so grand that it feels like a metaphor. Instead of forcing them to stop these leaks, the government has allowed these corporations to pump the rivers dry: the living world, as ever, is the buffer that must absorb failure and greed.

George Monbiot is a Guardian columnist

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Plug Power, would be partner of Andrew Forrest's green hydrogen plans, says new US tax credit makes green hydrogen lower cost than fossil fuelled hydrogen.

The post “Monumental:” US climate bill eliminates cost gap between green and dirty hydrogen appeared first on RenewEconomy.

AGL-backed RayGen says its solar tower technology is sending power to the grid in Victoria, but the storage component is delayed by global supply chain issues.

The post RayGen connects solar towers to the grid, but storage component will have to wait appeared first on RenewEconomy.

The real operational storage capacity of Snowy 2.0 may be as little as half that advertised, due to constraints on water flows highlighted in latest AEMO report.

The post AEMO market crisis report highlights big constraints on Snowy 2.0 storage appeared first on RenewEconomy.

Most of the world's chalk streams are in southern and eastern England and are under particular strain.

Some of these trees can be over 30 metres high. Others, can live for centuries or, for the Huon pine, up to an astonishing ten millennia. Gregory Moore, Senior Research Associate, School of Ecosystem and Forest Sciences, The University of Melbourne Licensed as Creative Commons – attribution, no derivatives.

Foreign companies should not be able to sue the government for taking action on climate change

An article in the Conversation with the catchy title “Hey Minister, leave that gas trigger alone” has urged the Labor government not to extend the Turnbull government’s gas trigger, which could be used to compel foreign-owned gas companies to keep gas reserves for use in Australia in some circumstances. It warns that actually using the trigger could inadvertently allow such companies to seek to sue the government under Australia’s existing international agreements.

Many Australians don’t know this but some of our trade agreements give foreign-owned companies special legal rights to sue the federal government if a change in law or policy reduces their profits, even if the change is in the public interest. The mechanism is known as an investor-state dispute settlement (ISDS).

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The world's oil majors are pocketing record profits from the current energy crisis, but not much of it is going into renewables, despite their marketing spin.

The post “Grotesque greed:” Oil majors’ windfall profits are headed for their pockets, not renewables appeared first on RenewEconomy.

Takeover target Genex has announced the purchase of a massive 2GW battery storage and solar project in Queensland.

The post Genex Power buys massive 2GW battery storage plus solar project in Queensland appeared first on RenewEconomy.

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