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RGGI Allowance (RGA) values skipped higher in heightened transaction activity mid-week, in sync with the rally in California Carbon Allowance (CCA) values and broader macro upbeat sentiment after a softer-than-expected US inflation print.

The European heatwave may last into August, the World Meteorological Organisation warns.

Projects have not been delivered. States are bickering. If the Albanese government is to uphold its election promise to deliver the Murray plan, hard tradeoffs are needed. Jamie Pittock, Professor, Fenner School of Environment & Society, Australian National University Licensed as Creative Commons – attribution, no derivatives.

The climate finance space is at risk. Confronted with an onslaught of agenda-driven media coverage aiming to discredit one of the largest sources of funding available for forest protection, mechanisms like REDD+ and voluntary carbon markets could be unfairly discredited to the point of losing momentum and support at a critical time for climate action. REDD+ credits, specifically projects financed through the Voluntary Carbon Market (VCM), have faced increasing criticism in the media over the past year.

A Canadian carbon credit investor has begun its orphaned oil and gas well sealing endeavour using an American Carbon Registry (ACR) methodology, with a partner organisation plugging dozens of wells in the US as part of the project, the company announced on Monday.

The latest plan to prepare the UK for intense heatwaves and flooding falls short of expectation.

The EU announced a slew of clean energy investments with Latin American and Caribbean nations on Monday, the first day of a two-day leaders' summit that provides a further signal of the 27-nation bloc's pivot away from Russia and China. 

Carbon credit prices generally edged lower over the past week amid a summer lull in the market although expectations of investment in the voluntary sector remained high.

People were ordered to leave their homes south-east of Athens on Monday as a wildfire fanned by strong winds burned nearby vegetation. The blaze was raging close to buildings in the village of Kouvaras, about 27km (17 miles) from the Greek capital, and threatening other settlements, the civil protection service said. In Kalyvia, horses were evacuated from stables that had caught light

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*PREMIUM LISTING - Verra is looking for a Senior Program Officer to support the forest carbon innovation team with communications and administrative issues.

Limiting demand of richest 20% saves seven times greenhouse gases required to meet needs of poorest 20%, researchers find

• Extreme heatwave – latest news updates

Gently limiting “luxury” demand from the 20% of European consumers who use the most energy saves seven times the amount of planet-heating gases that would be emitted in meeting the basic needs of the 20% who use the least energy, researchers have found.

The study, which modelled the effect of narrowing the gaps in energy use between households within 27 European countries, found capping demand from the top fifth, even at a fairly high level, cut greenhouse gas pollution from energy consumption by 9.7%, while raising demand from people in the bottom fifth who also live in poverty to a fairly low level increases emissions by just 1.4%.

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Record heat in Europe is part of a pattern of more intense heatwaves made more likely by climate breakdown

• Extreme heatwave – latest news updates

Scientists say “turbo-charged” climate change is driving the prolonged period of record temperatures currently baking much of the planet.

As the planet has heated, hotter-than-usual spells have become more intense and now last on average about 24 hours longer than 60 years ago, according to data from the National Oceanic and Atmospheric Administration. Noaa data from the 50 most populous cities in the US shows the heatwave season is 49 days longer now compared with the 1960s.

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Regulations compelling firms to reconsider their carbon management policies, including greenhouse gas pricing mechanisms, could lead to a reduction in net emissions, though they may also discourage green innovation and promote only short-term or less effective abatement strategies, according to research by the European Central Bank (ECB).

A massive green ammonia and green hydrogen project is proposed around the Old hydro power plant and a new giga-scale solar farm.

The post Massive Old River solar-hydro project aims to be first to market with green ammonia appeared first on RenewEconomy.

Exclusive: Leaked document ‘falls far short’ of what is needed to safeguard lives and livelihoods from heat, drought and storms, say experts

The government’s new plan to cope with the climate crisis has been condemned as “very weak” by experts, who say not enough is being done to protect lives and livelihoods.

Responding to the document, which was leaked to the Guardian, one highlighted its failure to adequately protect people in the UK from extreme heat. The heatwave in 2022, when temperatures surpassed 40C for the first time, led to the early deaths of more than 3,000 people, wildfires, buckled rail lines and farmers struggling with drought. Southern Europe is currently in the grip of a searing heatwave.

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European carbon prices traded largely sideways as the week began, extending the trading channel that has prevailed for the last ten days as the market continued to anticipate the annual reduction in auction volumes in August.

A plastic collection and recycling project in Senegal has been registered with Verra, the first on the African continent to qualify for earning the standard’s Waste Collection Credits (WCCs).

Unwitting whale advocates and rightwing thinktanks create the impression that offshore wind energy projects endanger cetaceans

One night in late March, J Timmons Roberts, a professor of environmental studies at Brown University, stepped in to a high school gymnasium in a small seaside town in Rhode Island. He was there to speak at a town hall aimed at allaying concerns about a local offshore windfarm.

In the front row, he noticed a woman dressed as a whale, holding a sign that read “Save Me!”

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John Kerry arrives in Beijing as China records its highest ever temperature, 52.2C, in Xinjiang

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The US climate envoy, John Kerry, is in Beijing for meetings with his Chinese counterpart, Xie Zhenhua, as large swaths of Europe, the US and Asia swelter in extreme heatwaves.

Methane emissions and China’s coal consumption are expected to be at the top of Kerry’s agenda in his first formal talks with Xie in nearly a year. The pair will probably also discuss preparations for the Cop28 climate summit later this year.

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China’s thermal power generation continued to grow at a double-digit pace in June amid rising electricity demand, even as the country's recent economic performance fell short of market expectations, government data showed Monday.