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The cost of importing steel into the EU from India and China could rise by 49% and 56% respectively when the EU’s carbon border adjustment mechanism is fully implemented by 2034, analysts estimated in a report published on Thursday.

Exchange ICE on Thursday announced plans to launch a futures contract for CORSIA-eligible carbon credits, as it steps up competition to rival bourse CME.

Exclusive: Legislation was blocked by small group of peers who tabled more than 60 amendments

Labour has urged ministers to resurrect a bill banning the import of body parts of endangered animals hunted overseas, which was blocked by a small group of peers, saying a failure to do so would leave the government complicit in the trophy hunting trade.

The hunting trophies (import prohibition) bill, a private members’ bill led by two Conservatives, Henry Smith, an MP, and Janet Fookes, a peer, has cross-party support and after passing all Commons stages appeared set to be approved by the Lords.

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European carbon prices were stronger at midday Thursday after a strong auction outcome triggered some buying, while energy prices were weaker after signs that the labour dispute at Chevron's Australian LNG facilities may be nearing a resolution.

Kenya’s Great Rift Valley holds strong potential for scaling up direct air capture (DAC) projects thanks to its abundant low-energy sources and geological resources for storing carbon, according to a partnership of project developers eyeing up the region for the development of large-scale DAC projects.

A weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).

The voluntary biodiversity credits market has reached a “tipping point” following the launch of the final recommendations by Taskforce on Nature-related Financial Disclosures (TNFD), according to a report led by an Australian law firm.

The BBC's Nick Robinson criticised the prime minister for announcing he had scrapped policies, including a tax on meat, that were never included in government policy. Rishi Sunak has said he is confident the UK will meet net zero by 2050, despite announcing delays to a number of green policies initially set out by the government. Sunak announced there would be a delay to banning petrol and diesel cars, which has sparked outrage from manufacturing companies for the government's lack of consistency

• Fury as Sunak presses ahead with watering down climate policies

• Rishi Sunak insists UK can meet climate targets despite widespread condemnation after net zero policy U-turn – UK politics live

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Carnegie Clean Energy has secured another €1.2 million towards a demonstration of its CETO wave energy converter in waters off the Basque Country.

The post Carnegie wins more European funding towards Spain wave energy project appeared first on RenewEconomy.

A small milestone after a long wait: Iberdrola's Flyers Creek wind farm sends its first power to the NSW grid amid ongoing turbine construction.

The post New NSW wind farm sends first bursts of power sent to the grid appeared first on RenewEconomy.

Available metrics to assess biodiversity may not be fit for purpose and risk embedding negative biases into investor decision-making, according to a new paper that proposed two “forward-looking” approaches for biodiversity-focused investment decisions.

The Shipwrecked Mariners’ Society has announced the winner of its 11th annual photography prize, which showcases the UK’s relationship with the sea. Ian Watkin’s surreal image of a fish embedded in a jellyfish beat more than 1,000 entries

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The party’s net zero divide was deeper than ever before Rishi Sunak’s speech – but will he be vindicated or vilified by voters?

The Tory party has long been divided on the environment. MPs in “red wall” seats tend to look at the costs associated with the transition to net zero and question the wisdom of a rush that could cost votes. But colleagues in southern seats often wear their environmental credentials proudly – and have been known to put the phrase “net zero champion” in their social media bios. This group see being green and proud as key to keeping swing voters from defecting to the Liberal Democrats or, worse, Labour.

Until recently, it’s the latter group that’s had the greater numbers. The supportive Conservative Environment Network has more than 100 members, while the sceptical Net Zero Scrutiny Group has about 20 public members. But after the Tories narrowly held on in the Uxbridge byelection thanks to a campaign against the expansion of Sadiq Khan’s ultra low emission zone, the mood has been changing. “A lot of MPs have become more sympathetic to the risk of the costs,” says a member of the 2015 intake. The tensions between the two Tory tribes have been on full display all summer as the party has had an open debate about how far green issues can be pushed for electoral advantage.

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Taiwan should finalise the rates for a proposed carbon levy scheme by the end of this year with a starting rate of more than $15 per tonne of CO2, as delaying further could make it harder for the island to meet its net zero goals, domestic environmental groups have urged.

An Australian paper has trialled the use of ‘soundscape analysis’ as a low-cost way to indicate farm dam health, with its authors saying it could be an innovative way to track and reward biodiversity change in Australia’s nature repair market.

The New Zealand government has announced it will begin charging an annual fee of NZ$30.25 ($17.90) per hectare on post-1989 forest land in the emissions trading scheme, as well as thrusting a litany of service fees on participants, sparking outrage from forestry groups.

A Tokyo-based offset project developer is planning to work with a smart agricultural solution provider to expand its credit-generating business in Japan, eyeing rice cultivation projects.

A Lords committee warns that the government risks missing housebuilding and environmental targets.

EU laws have banished plastics from French fast-food chains, but in New York I couldn’t escape throwaway culture

Though I grew up in the United States, I’ve spent the majority of my adult life in France – which means that every trip “back” across the Atlantic has become a moment of curiosity and culture shock. Most recently, the shock was over the sheer prevalence of plastics in American daily life.

In Paris, and elsewhere in Europe, plastics are clearly on their way out and paper is in. The standard takeaway cup in coffee shops, juice bars and cafes serving hipster smoothies is paper, and when there is a straw, it’s paper as well (or some other biodegradable non-plastic material). Delivery food orders arrive in paper cartons –some with a chic design touch that plastic could never replicate, unspooling like origami flowers to reveal the food within – in paper bags. Utensils, when requested, are wooden and wrapped in paper. And in grocery stores, bulk sections for pasta, nuts, dried fruit, cereals, rice and legumes are normal, as is putting those things (or your fruit and vegetables) in paper bags.

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Federal Court finds Pelican Point gas plant breached energy market rules during controversial South Australia blackouts – at the time pinned on renewables.

The post How South Australia’s biggest gas plant sat idle during summer blackouts appeared first on RenewEconomy.