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A California-based company that uses microorganisms to transform greenhouse gases into sustainable materials that can be used in everyday products has raised $125 million from investors.

A Toronto-headquartered voluntary carbon financier saw its net income turn from red to the black during the second quarter after receiving its first credit issuance and subsequently monetising those units, the company announced Wednesday.

European carbon rallied on Thursday, ending a run of four consecutive declines as aggressive early buying drove prices up by as much as 2.9%, tracking similar sharp gains in natural gas, while UK carbon prices fell to a new record low in thin trading.

Some of the world's largest corporate retailers and carriers need to take responsibility for their emissions and step up to tackle climate change, as current efforts are significantly lacking in several areas, an environmental organisation alliance said in a report published Thursday.

A EU and UK carbon analyst will leave their role at an energy consultancy at the end of the week for a new position at a multinational oil and gas firm, they told Carbon Pulse on Thursday.

UN appeals for another country to step in for biodiversity summit – due to take place in 2024 – as Ankara cites ‘force majeure’ for move

Turkey has withdrawn from hosting the United Nations’ Cop16 biodiversity summit in 2024, citing three large earthquakes in February that devastated parts of the country.

The nature summit, which will be the first since governments agreed this decade’s biodiversity targets at Cop15 in Montreal last December, had been scheduled to take place in Turkey in October next year to discuss progress on the agreement.

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The body responsible for shaping the UN carbon market under Article 6 of the Paris Agreement has opened another consultation on the methodological guidance under which projects may receive credits, focusing on baseline, additionality, and leakage assessment requirements.

The government of Japan has commissioned three companies to jointly conduct a feasibility study on the establishment of an overseas carbon capture and storage (CCS) value chain as part of the country's broad decarbonisation strategy, which includes awarding carbon credits for domestic and international CCS projects.

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Greenpeace protesters climbed on to the roof of the prime minister's mansion in North Yorkshire and draped it in oil-black fabric to 'drive home the dangerous consequences of a new drilling frenzy'. The climbers managed to get on top of Sunak's constituency home in Kirby Sigston as the PM flew to California on holiday. After reaching the top of the building using ladders and climbing ropes, they unfolded 200 sq metres of fabric to cover one side of the property. Last week, Sunak pledged to 'max out' the UK's oil and gas reserves as he announced 100 new licences for North Sea drilling, which experts say could be catastrophic for the climate

• Greenpeace protesters drape giant oil-black fabric over Sunak’s mansion

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China's regional governments approved more than 50 gigawatts (GW) of new coal power during the first half of this year, showing no sign of a slowdown in coal-based capacity expansion amid renewed worries over the country's ability to tackle climate change, analysts have found.

At least 400 attendees require treatment for heat-related symptoms on first day of the World Scout Jamboree in South Korea. The event, which started earlier this week, has drawn 43,000 young Scouts from 158 countries this year

• Heatwave sees hundreds fall ill at World Scout Jamboree in South Korea

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The Australian government has released draft changes to the treatment of coal mines under the Safeguard Mechanism, however analysis estimates it will only have a marginal impact on future Australian Carbon Credit Unit (ACCU) demand.

Climate change is ramping up, and with it, so is the rhetoric for action. It’s a fine line to walk between sounding the alarm and being accused of alarmism. Noel Castree, Professor of Society & Environment, University of Technology Sydney Licensed as Creative Commons – attribution, no derivatives.

Group chaired by former chief scientist Ian Chubb writes to Tanya Plibersek, saying ‘business as usual’ on the reef is not an option

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Leading national experts on the Great Barrier Reef have called for an urgent reassessment of the way the world’s biggest reef system is managed, saying current approaches are too inflexible in the face of “unremitting global warming.”

An established independent expert panel, chaired by the former chief scientist Ian Chubb, wrote to the environment minister, Tanya Plibersek, saying “business as usual” is no longer an option.

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The gas industry is telling consumers that ditching their appliances will break the grid. And other nonsense.

The post Gas lobby launches new scare campaign on electrification, saying it will break the grid appeared first on RenewEconomy.

UNSW modelling shows the magnitude, frequency and duration of "solar ramping" will change significantly over the next century. But there are workarounds.

The post More clouds on solar horizon, say researchers, so batteries and modelling will be key appeared first on RenewEconomy.

A daily summary of our news plus bite-sized updates from around the world.

Sightings rise to 170,000 so far this year as climate breakdown changes behaviour of species

Red admiral butterflies are enjoying a 400% boom in British gardens this year, data reveals, as the migrant insect favours the warmer climes brought by climate breakdown.

Butterfly Conservation has reported 170,000 sightings of the majestic red and black insect so far this year in its annual Big Butterfly Count.

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Analysts have left their short-term forecasts for EU carbon prices more or less unchanged despite a large drop in carbon-intensive power generation and sluggish demand from industrials, while again raising their longer-term outlooks and significantly slashing their expectations for UK carbon costs.