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

Two fund managers have pledged up to $6 million towards a startup that sequesters carbon and converts toxic seaweed into replacements for petroleum products and other industrial inputs.

The Canadian environment ministry on Friday published its draft federal offset protocol for private sector improved forest management (IFM), mirroring efforts already underway in British Columbia and confirming plans to develop a separate iteration for Crown lands.

Utility’s head says demand for drinking water has risen 20% since pandemic, outpacing supply

A water company has blamed more people working from home post-pandemic for a new hosepipe ban.

South East Water, which supplies more than 2m homes and businesses, will impose the first hosepipe ban of the summer on Monday, affecting households across Kent and Sussex.

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A US law firm is dedicating "substantial resources" from its whistleblower practice to investigate potential violations of the country's Commodity Exchange Act (CEA) linked to fraudulent or manipulative activities in the voluntary carbon markets.

More trouble in Antarctica: the extent of frozen seawater fastened to the coast (called landfast ice) hit a record low in March 2022. If this trend persists, the consequences could be catastrophic. Alexander Fraser, Senior Researcher in Antarctic Remote Sensing, University of Tasmania Christine Weldrick, Postdoctoral research fellow, University of Tasmania Laura Dalman, PhD candidate, University of Tasmania Matthew Corkill, PhD candidate, University of Tasmania Pat Wongpan, Quantitative Sea Ice Biogeochemist/Ecologist, University of Tasmania Licensed as Creative Commons – attribution, no derivatives.

Regulated parties shed net holdings of California Carbon Allowances (CCAs) and speculators extended length through a week of heightened spread activity, while both entities reversed course from the prior week in the US Northeast power sector carbon market, data from the US Commodity Futures Trading Commission (CFTC) showed Friday.

Private sector climate targets should not be considered credible if they rely on avoided emissions carbon credits, with only CO2 removals having a positive impact on GHG emissions, a US-based university think-tank said Friday.

Three EU member states made minor progress in the past fortnight towards completing their free allocation of 2023 ETS carbon allowances, with Finland finally commencing the annual process according to the final update for this year.

Malawi has established a new agency to manage the trade and marketing of its carbon credits, President Lazarus Chakwera announced Friday, upping the country's forecast for the size and value of its offering.

Politicians are expected to intervene in the next few years to alter EU ETS rules that are on course to have the market hit absolute zero emissions in 2040, a conference heard this week, as analysts predicted EUA prices would exceed €250 several years before that unless something was done.

Researchers say that monarchs with more white spots on their wings migrate more successfully.

Wastewater regulations are stalling new homes development in parts of England, says Baroness Scott.

A new academic study looking at human-induced regeneration projects based on their carbon estimation area (CEA) data has found evidence suggesting Australia's ACCU market could have been overcredited by as much as 25 million units to 2021.

Changes to the World Bank could unlock developing states access to loans and to the means of staving off disaster

The Netherlands has almost the same amount of solar generating capacity as the whole continent of Africa. That must be, in part, because the interest on a loan to set up a windfarm in Africa is about 17% more than one to do the same in Europe.

Many poor countries enjoy vast natural resources of wind and sun yet struggle to access renewable energy because of the crippling cost of capital imposed on them. Private sector companies perceive far greater risk in poor countries, penalising most heavily the countries in greatest need of investment.

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Warnings over the sub's safety were dismissed by OceanGate's CEO, emails seen by the BBC show.

What happens when the chill of our seas turns to a soupy stew? Fragile ecosystems will be destroyed and food sources for wildlife will disappear

Last weekend, at the very easternmost edge of England, tens of thousands of people of all ages gathered at a beach festival in Lowestoft to celebrate the sea joyously. To dance to trance music and listen to Linton Kwesi Johnson recite his poetry, and to hear marine scientists explain to seven-year-olds exactly why the sea smells the way it does. It was an idyllic scene. From dusk to dawn and back again, everyone was drawn to the vast and glorious element that connects us to the rest of the world.

But then, amid the revelry, a solemn procession appeared. Two dozen festivalgoers carried a series of blown-up photographs into the sea. They were portraits by the artist Gideon Mendel of people, many of them from the global south, standing amid the floods that had overturned their lives. Suddenly, in the face of their fates, the sea seemed not so benign after all. It was a reminder that sea levels are rising around the world; and that here in the UK we face our own potential disaster – the drastic sudden warming of the sea off Britain and Ireland.

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French President Emmanuel Macron claimed "complete consensus" on reform of international financial institutions to better channel climate funds to developing countries on Friday, with world leaders pledging changes that are expected to free up an additional $200 billion of lending capacity over the next decade, and billions in debt relief measures.

Committee on Climate Change report likely to recommend ending road-building programme

The government should halt all new roads unless there are exceptional circumstances, the government’s climate advisers are likely to say next week.

On Wednesday the Committee on Climate Change will publish its latest report on the UK’s progress in dealing with the climate crisis. Speaking at Glastonbury on Friday, the climate change committee chair, Lord Deben, said new roads inevitably increased traffic and emissions.

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