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EUAs fell another 2.6% on Wednesday to compound the previous session's big sell-off, with some traders said to opt for unwinding their positions rather than deal with further volatility.

Cost of Australian-based climate offsets is soaring but 90% of local purchases are for overseas projects

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Pledges from major companies to reach net zero greenhouse gas emissions are driving up prices for Australia-based climate offsets to levels not seen since the 2014 repeal of the carbon pricing scheme.

Prices for Australian carbon units have topped $20 a tonne with demand up 20% in the past 12 months, with analysis released today saying prices could rise to $50 by the end of the decade.

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California Carbon Allowance (CCA) prices soared to new records over the first half of the holiday-shortened week as speculative interest remained robust and few sellers appeared, with several traders attributing some purchases to power sector emitters.

US biofuel credit (RIN) values fell to a more than two-week low on Wednesday on declining corn prices, while federal lawmakers introduced bipartisan legislation to negate a recent Supreme Court decision on Renewable Fuel Standard (RFS) waivers.

Kenyan ministry of tourism and wildlife expresses concern about reports of scheme to transport herd from Kent

Confusion has erupted over plans to fly a herd of elephants from Kent to Kenya, after the Kenyan wildlife service said it had not been contacted or consulted about the operation.

On Monday, the Aspinall Foundation announced ambitious plans to transport 13 savanna elephants, born and bred in captivity, almost 4,500 miles from their home at Howletts Wild Animal Park to a site in the east African country, in partnership with the Kenya Wildlife Service (KWS). The wildlife charity, where the prime minister’s wife, Carrie Johnson, has a top corporate role in communications, said it would be a world-first operation to “rewild” the mammals.

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Commodity price reporting agency S&P Global Platts on Tuesday proposed to launch six carbon credit indices from next month with Viridios AI that would reflect a wide variety of voluntary emissions reduction (VER) project types and co-benefits.

Trading in China’s carbon market will begin in July, Premier Li Keqiang said Wednesday evening, after the failure to meet the widely touted June deadline had sparked concerns a longer delay might be in store.

Four banks based on separate continents have launched a carbon offset platform, joining several marketplaces aiming to boost transparency in the OTC-based voluntary emissions reduction (VER) market.

The investment management arm of insurance giant AXA has purchased voluntary carbon offset platform ClimateSeed from BNP Paribas.

Brussels may propose waiting until 2026 to gradually phase out free allocation of EU carbon allowances for industry and to fully put an end to the handouts by 2035 at the earliest, according to two draft documents on the planned carbon border adjustment mechanism (CBAM) seen by Carbon Pulse.

New Zealand carbon allowances added another 1.7% to their value on Wednesday as they rose to NZ$46, just a day after they broke through the NZ$45 level for the first time.

Switzerland will raise its domestic carbon tax by 25% next year after its fossil fuel emissions output in 2020 missed the country’s annual reduction targets.

Nearly 700 million people worldwide live in low coastal zones vulnerable to sea-level rise and coastal storms. That number could reach a billion by 2050

A few years ago, after I gave a talk on water and climate change, I had an Arizona rancher come up and ask me if there would be enough water in the future for their livestock or if they should sell out and move north. This week, I received an email from a retiring doctor, who, acknowledging both their privileged economic situation and the personal nature of the decision, nevertheless asked if it “would it be more advantageous/safe to consider moving to coastal Oregon or Washington, rather than staying in southern California” because of rising seas, extreme heat and the growing threat of wildfires. At an Independence Day party this weekend, a couple asked me if they should move from Colorado to Michigan because of growing drought and water shortages in the western US.

Related: My new climate reality? Packing a ‘firebag’ so I can flee at the drop of a hat | Michelle Nijhuis

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Global summit to be held in Glasgow in November will be ‘most inclusive’ ever, says spokesperson

Young people will interview government ministers on stage as part of plans to make this autumn’s climate change summit the “most inclusive ever”, the government has announced.

A whole day will be dedicated to listening to the views of selected young climate activists at Cop26, the global summit due to be held in Glasgow in November. The event will heavily feature the “marginalised generation”, many of whom have said they have been ignored by governments.

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The European Commission has begun to add EU ETS allocation data for the 2021-25 period to the EU Transaction Log, the database that holds details of all EUA allocations and transactions.

Offset issuances and deliveries to the ERF both spiked in the Clean Energy Regulator’s latest data update, while BlueScope Steel has given up on generating any carbon credits from the energy efficiency project at its Port Kembla steelworks.

Grid connections and an unhelpful federal government cited as major reasons for plunge in investor confidence in clean energy to a big low.

The post Grid concerns and “unhelpful” government killing confidence in clean energy appeared first on RenewEconomy.

North America experienced its warmest June on record and experts say the figures are frightening.

Satellite data shows temperature peaks are lasting longer and rising higher

North America endured the hottest June on record last month, according to satellite data that shows temperature peaks lasting longer as well as rising higher.

The heat dome above western Canada and the north-west United States generated headlines around the world as daily temperature records were shattered across British Columbia, Washington and Portland.

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The woods are lovely, dark and deep – at least in the images of Jasper Goodall. In Twilight’s Path, he stays awake to capture nocturnal landscapes in the forests and on the moors of the British Isles

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