Around The Web

VCM Report: Prices sink further as buyers retreat and sovereigns perk up

Carbon Pulse - Tue, 2023-05-23 03:05
Prices for carbon credits continued to sink lower over the past week, particularly for older vintages, as the long term bearish direction accelerated amid a whirlwind of African country initiatives to muscle into both the voluntary market and its sovereign nation rival under Article 6 of the Paris Agreement.
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Cocoa planting is destroying protected forests in west Africa, study finds

The Guardian - Tue, 2023-05-23 03:03

Global trade in chocolate, worth more than $1tn a year, is leading to widespread deforestation in Ivory Coast and Ghana

The world’s hunger for chocolate is a major cause of the destruction of protected forests in west Africa, scientists have said.

Satellite maps of Ivory Coast and Ghana showed swathes of formerly dense forest had become cocoa plantations since 2000, according to a study.

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Nigerian oil and gas regulator to develop carbon market framework -media

Carbon Pulse - Tue, 2023-05-23 01:25
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed plans to develop a regulatory framework for carbon pricing, according to local media sources, which would see firms active in the oil and gas sector pay for emissions as well as drive reductions via carbon credits.
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Experts forecast flood of biodiversity credit demand but urge regulation

Carbon Pulse - Tue, 2023-05-23 01:17
A strong wave of demand for biodiversity credits is expected within the next couple of years, experts speaking at an event in London on Monday predicted while urging standard-setting bodies to ensure rules exist to allow the market to scale with integrity.
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Global heating will push billions outside ‘human climate niche’

The Guardian - Tue, 2023-05-23 01:00

World is on track for 2.7C and ‘phenomenal’ human suffering, scientists warn

Global heating will drive billions of people out of the “climate niche” in which humanity has flourished for millennia, a study has estimated, exposing them to unprecedented temperatures and extreme weather.

The world is on track for 2.7C of heating with current action plans and this would mean 2 billion people experiencing average annual temperatures above 29C by 2030, a level at which very few communities have lived in the past.

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Gold Standard launches new climate claims framework, teams with early movers to ‘go beyond’

Carbon Pulse - Tue, 2023-05-23 00:18
Certifier Gold Standard on Monday launched plans for a new contribution claims framework to help companies take climate action beyond offsetting, while teaming up with others to initiate ideas on how firms should approach mitigating climate impacts outside their own value chain.
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English water firms want to draw a line under the past. It won’t wash | Nils Pratley

The Guardian - Tue, 2023-05-23 00:16

Industry wants accountability to cover putting sewage spills right, not firms’ previous compliance

“We want to be held to account …” said Ruth Kelly, the new public face of the English water companies, last week, briefly raising hopes of a moment of reckoning for the industry’s past (and current) sewage spills. Then the chair of Water UK clarified what her version of accountability covers. The companies wish to be held to account “… for putting it right”.

The past 30 years, we were invited to think, should be considered an unfortunate chapter in which the industry, terribly unfortunately, didn’t give sewage spills enough attention while other investments were prioritised. That was the gist of her apology. “By and large, the water companies were carrying out their legal responsibilities but … what’s legal is not necessarily the right answer or what people expect,” she argued on BBC Radio 4’s Today programme.

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Extreme weather more common but less deadly

BBC - Tue, 2023-05-23 00:05
Better early warning systems and disaster management mean fewer lives lost to extreme weather.
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TNFD co-chair names September date for launch of final nature disclosure recommendations

Carbon Pulse - Mon, 2023-05-22 23:00
The co-chair of the Taskforce on Nature-related Financial Disclosures (TNFD) has confirmed the launch date for the final nature reporting recommendations as Sep. 18, speaking at a conference in London on Monday, stating that the highly-anticipated disclosure guidelines will be presented at the New York Climate Week.
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Wind beats out gas generation in UK in first quarter for first time

RenewEconomy - Mon, 2023-05-22 21:52

Sheringham Shoal offshore wind farm fixed bottom equinorWind overtakes gas for first time to become biggest contributor to UK grid in first three months of 2023.

The post Wind beats out gas generation in UK in first quarter for first time appeared first on RenewEconomy.

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Euro Markets: Midday Update

Carbon Pulse - Mon, 2023-05-22 21:45
European carbon prices weakened sharply on Monday morning as the market began a full schedule of five daily auctions after a truncated timetable last week, while energy prices fell again, further increasing natural gas' advantage over coal in power generation and diminishing potential demand for EUAs.
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Actively-restored tropical forests store much more carbon than other types, study shows

Carbon Pulse - Mon, 2023-05-22 21:33
Actively-restored tropical forests have shown a much larger increase in carbon stocks compared to other types, new research has found.
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Big polluters’ share prices fall after climate lawsuits, study finds

The Guardian - Mon, 2023-05-22 21:08

Exclusive: Fossil fuel companies register drop in value after litigation or unfavourable judgments

Climate litigation poses a financial risk to fossil fuel companies because it lowers the share price of big polluters, research has found.

A study to be published on Tuesday by LSE’s Grantham Research Institute examines how the stock market reacts to news that a fresh climate lawsuit has been filed or a corporation has lost its case.

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Financial firms commit to nature action by signing biodiversity pledge

Carbon Pulse - Mon, 2023-05-22 21:02
Another 15 financial institutions have signed up to the Finance for Biodiversity (FfB) pledge, committing to help reverse the ongoing nature loss and set specific biodiversity targets.
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America’s big shift to green energy has a woolly mammoth problem

The Guardian - Mon, 2023-05-22 21:00

Transmission lines in the US need to be increased threefold, but faces pushback from fossil conservation and green groups

America’s renewable energy drive needs more than a million miles of new transition lines but emerging resistance includes opponents worried about building them in one of the country’s richest areas of ice-age fossils.

The Greenlink West project would build a 470-mile-long transmission line bringing clean electricity north of Las Vegas to Reno in Nevada, but it cuts through an area containing everything from woolly mammoth tusks to giant sloths to ancient camels.

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Weather tracker: Guam and Philippines brace for Typhoon Mawar

The Guardian - Mon, 2023-05-22 20:05

Typhoon projected to affect US territory of Guam as early as Tuesday. Elsewhere, Europe is heating up

Over the weekend, a rapidly intensifying region of thunderstorms in the western Pacific culminated in the formation of Typhoon Mawar.

The movement of this storm is projected to affect the Mariana Islands, including the US territory of Guam, as early as Tuesday. There is a risk of wind speeds above 75mph, together with torrential rain.

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India Carbon Credit Manager, CapGemini – Mumbai

Carbon Pulse - Mon, 2023-05-22 19:51
CapGemini is looking to hire a manager for its carbon credit business in India.
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Australia to consult on how carbon project proponent-led method process, integrity body will work, govt official says

Carbon Pulse - Mon, 2023-05-22 18:13
Australia will soon consult on how the proponent-led carbon project method development will work and what role the market's new integrity body will play in that process, as it seeks to implement the reforms of the recently held offset market review.
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Spanish renewable production exceeds 100 pct of demand for 9 hours

RenewEconomy - Mon, 2023-05-22 18:02

Renewables generate enough power to cover all demand in Spain for the longest period yet.

The post Spanish renewable production exceeds 100 pct of demand for 9 hours appeared first on RenewEconomy.

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Japanese conglomerate eyes Angola forest carbon project

Carbon Pulse - Mon, 2023-05-22 17:44
A major Japanese conglomerate has struck a deal with an Angolan agricultural firm on the potential rehabilitation of a degraded forestry area to launch its first carbon credit project in the Southern African nation.
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