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UK local government pension fund partnership taps asset managers for £300 mln timberland investment

Carbon Pulse - Wed, 2024-07-03 07:17
A group of UK local government pension funds has appointed two asset managers to allocate hundreds of millions of pounds in investments in timberland projects, some of which are expected to generate “high-quality” carbon offsets.
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Panama launches emissions reporting platform as national carbon market takes form

Carbon Pulse - Wed, 2024-07-03 06:56
The Panamanian environment ministry debuted a new voluntary carbon footprinting portal for the public and private sector on Friday, laying the groundwork for in-country emissions reporting, which forms the first half of plans for a national carbon market.
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US DFC backs $1 bln BTG Pactual-led Latin American reforestation effort with $50 mln investment

Carbon Pulse - Wed, 2024-07-03 06:52
The US International Development Finance Corporation (DFC) has pledged $50 million to catalyse a $1 billion reforestation initiative led by BTG Pactual Timberland Investment Group (TIG) in Latin America.
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Canada’s planned landfill methane reduction regulation to cut 107 MtCO2e from 2025-40, reduce offset potential

Carbon Pulse - Wed, 2024-07-03 06:27
The Government of Canada released proposed regulations to reduce methane from municipal and privately-held landfills, estimating a benefit of slashing 107 million tonnes of CO2 equivalent to the end of the next decade, which would reduce eligibility of projects to generate offsets.
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Rising risks of climate disasters mean some communities will need to move – we need a national conversation about relocation now

The Conversation - Wed, 2024-07-03 06:20
Climate change is making some parts of Australia unliveable or uninsurable. We need a national conversation about the planned relocation. A proposed National Relocation Authority can lead the way. Roslyn Prinsley, Head, Disaster Solutions, Australian National University Naomi Hay, Bachelor of Design (Honours) Convenor and Lecturer, School of Art and Design, Australian National University Licensed as Creative Commons – attribution, no derivatives.
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Google data centres push emissions nearly 50% higher than 2019 levels as AI footprint grows

Carbon Pulse - Wed, 2024-07-03 05:07
Google’s carbon emissions have shot up 48% over the past five years, driven largely by data centre energy consumption, according to the company’s 2024 Environmental Report published this week.
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Verra’s new REDD methodology could leave projects issuing no voluntary carbon credits, warns assessement body

Carbon Pulse - Wed, 2024-07-03 03:44
Verra’s new consolidated methodology for avoided deforestation could lead to many REDD carbon projects being cancelled because they face the risk of being unable to issue voluntary credits, finds an assessment body.
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The Guardian view on Britain’s green future: where was the debate? | Editorial

The Guardian - Wed, 2024-07-03 03:38

The climate emergency should have been a more prominent theme during an underwhelming election campaign

For all the many televised encounters between party leaders, one huge subject has largely flown under the radar during this underwhelming election campaign. In 2019, at a time when the Brexit crisis had overwhelmed national politics, Channel 4 nevertheless devoted an entire pre-election debate to the climate emergency. Boris Johnson didn’t turn up. But, sensing the mood of the times, as prime minister he was soon committing to a “green industrial revolution”. Climate action was high-profile and it mattered.

Contrast that with last week’s final leaders’ debate between Rishi Sunak and Sir Keir Starmer. None of the questions selected from the audience addressed the environment. Aside from one attempt by Mr Sunak to suggest that Labour’s green plans will lead to higher taxes – feeding into the Conservative party’s wider attack strategy – both leaders focused their energy and political capital elsewhere. It has been much the same throughout the campaign. Economists, industrial leaders and environmental campaigners are united in their desire for more proactive green government. But the politics has become difficult.

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ACR unveils updates to US IFM carbon offset protocol aimed at baseline precision

Carbon Pulse - Wed, 2024-07-03 03:17
International registry ACR unveiled Tuesday a series of updates in Version 2.1 of its Improved Forest Management (IFM) on Non-Federal US Forestlands methodology that it said increased the precision of its requirements for developing and evaluating conservative baseline scenarios.
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DATA DIVE: How the UK Conservatives slipped on net zero

Carbon Pulse - Wed, 2024-07-03 03:01
A Labour win in Thursday's general election is likely to be good news for the UK's chances of meeting its legally-binding target of net zero emissions by 2050, with the governing Conservative Party pledging a range of policies that risk being regressive for the climate.
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EU net zero transition speeds up but still too slow, finds annual assessment

Carbon Pulse - Wed, 2024-07-03 02:38
The EU is more on track to reach its climate neutrality goal than it was a year ago, but the pace of progress needs to accelerate to put the target within reach, according to an assessment of 124 net zero indicators unveiled by a consortium of researchers in Brussels on Tuesday.
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CEO of SBTi to step down

Carbon Pulse - Wed, 2024-07-03 02:14
The CEO of the Science Based Targets initiative (SBTi), Luiz Amaral, has decided to step down from his role for personal reasons, with the decision to take effect at the end of June and the process to replace him already underway.
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Germany’s coal phaseout auction sets an example for cost-effective early retirements, study finds

Carbon Pulse - Wed, 2024-07-03 02:01
The results of the world's first coal phaseout auction, carried out in Germany, suggest that it is a transparent and potentially cost-effective way to push fossil power plants into early retirement, according to research published on Tuesday.
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Swedish biogenic CCS project to begin this year thanks to EU-approved aid

Carbon Pulse - Wed, 2024-07-03 01:38
A Swedish project for biogenic carbon capture and storage is about to kick start with the first auction to open this year after the European Commission gave its blessing today to a €3 billion (SEK 36 bln) state aid scheme.
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Labour is putting its plans for Britain in the hands of private finance. It could end badly | Daniela Gabor

The Guardian - Wed, 2024-07-03 01:30

Handing vital infrastructure to private investment companies will generate windfalls for investors and leave the rest of us worse off. We need a better plan

  • Daniela Gabor is professor of economics and macrofinance at UWE Bristol

The Labour party has a plan for returning to power: it will get BlackRock to rebuild Britain. Its reasoning is straightforward. A cash-strapped government that wants to avoid tax increases or austerity has no choice but to partner with big finance, attracting private investment to rebuild the infrastructure that is crumbling after years of Tory underinvestment. Labour has already done the arithmetic: to mobilise £3 of private capital from institutional investors, you need to offer them £1 in public subsidies. But every time you hear Labour announce such an infrastructure partnership, think of the hidden politics. BlackRock will privatise Britain – our housing, education, health, nature and green energy – with our taxpayer money as sweetener.

BlackRock has long peddled the idea of public-private partnerships for infrastructure, climate and development. Yet its political momentum has recently accelerated. When its chair, Larry Fink, the world’s most powerful financier, sat with world leaders at the G7 summit last month, he promised the following: rich countries need growth, infrastructure investment can deliver that growth, but public debt is too high for the state alone to invest the estimated $75tn (£59tn) necessary by 2040. Trillions, however, are available to asset managers who look after our pensions and insurance contributions (BlackRock, the largest of these firms, manages about $10tn, as a shrinking welfare state pushes us – future pensioners – into its arms).

Daniela Gabor is professor of economics and macrofinance at UWE Bristol

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EU clears €32 bln aid for energy-intensive companies in Germany

Carbon Pulse - Wed, 2024-07-03 01:29
Energy-intensive companies facing indirect emission costs in Germany will benefit from billions worth of state aid compensation, as the European Commission approved on Tuesday some amendments proposed to an existing national scheme.
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Sustainability-linked bonds increasingly tied to biodiversity, UNDP says

Carbon Pulse - Wed, 2024-07-03 01:27
Biodiversity is increasingly included as a key performance indicator (KPI) in sustainability-linked bonds (SLBs), as the market is expected to accelerate compared to last year, a UN Development Programme (UNDP) official has said.
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Ruling paves way for businesses and public to sue water firms over sewage

The Guardian - Wed, 2024-07-03 01:19

Decision by supreme court means water companies could be sued for damage caused by dumping of human waste

Water companies could face a spate of legal challenges by people and businesses affected by sewage pollution after a ruling that United Utilities could be sued by a private company for damage caused by the dumping of human waste.

Lawyers said it was a “watershed moment” as the courts had previously ruled that penalties for water companies were a matter for the regulator, and companies could not sue firms for damage caused to their property by sewage pollution.

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