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RWE urges gas-fired power plant push in Germany

Carbon Pulse - Thu, 2024-11-14 02:03
The finance chief of large German utility RWE has urged Germany to ditch its hydrogen condition for new gas-fired power plants due to near-term capacity needs.
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COP29: Carbon trading in a warzone – Ukraine looks at Article 6 as stepping stone towards EU ETS

Carbon Pulse - Thu, 2024-11-14 01:59
Ukraine can sell its emission reductions through the nascent Article 6.2 international market as it gradually establishes a national carbon trading scheme and pursues a link-up with the EU ETS, experts said on the sidelines of the COP29 summit.
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Report flags limitations with corporate forestry data platform

Carbon Pulse - Thu, 2024-11-14 01:33
Financial institutions should be aware of the shortcomings of a corporate forestry data platform called Forest IQ, a new study has said, drawing attention to the risk that it could generate misleading results, though it remains a good starting point.
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COP29: BRIEFING – Philippines to finalise national registry basics by year-end, ready carbon market blueprint by Q2 2025

Carbon Pulse - Thu, 2024-11-14 01:12
The Philippines government will finalise the basic work on its national registry by the end of this year and will have a final blueprint for its carbon market framework ready by the end of the second quarter of 2025, the head of the country's delegation to COP29 in Baku told Carbon Pulse.
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Trump victory raises risk of investing in offshore wind projects, says RWE

The Guardian - Thu, 2024-11-14 00:44

German energy firm shaves €3bn from spending plans for next financial year to €7bn

A German energy firm has said that Donald Trump’s election victory has increased the risks of investing in offshore wind projects – but his return to the White House could help bolster Britain’s renewables sector, according to UK developer SSE.

Germany’s RWE has cut its spending plans and warned that, as a result of the US election, “the risks for offshore wind projects have increased”.

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EU carbon removal methodologies risk ‘very significant’ over-crediting, warns think tank

Carbon Pulse - Thu, 2024-11-14 00:25
Six draft methodologies proposed by the European Commission in October under the EU's Carbon Removal and Carbon Farming (CRCF) regulation need “considerable improvement” to comply with best practices in carbon crediting, according to a German think tank.
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COP29: “Sprawling” climate finance text leaves little room for compromise

Carbon Pulse - Thu, 2024-11-14 00:22
Negotiations over the new global climate finance goal remain wide open after the first COP29 draft dropped on Wednesday, described by observers as a "sprawling" and messy text, despite a subtle sign from China that it may be open to contributing.
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COP29: Turkish ETS auctions to start in 2026 – official

Carbon Pulse - Thu, 2024-11-14 00:01
Turkiye’s ETS will see installations required to report their emissions in 2025, and purchase allowances in 2026, the country’s deputy director of climate change told Carbon Pulse at COP29, where the country also presented its long-term strategy for how it plans to hit carbon neutrality by 2053.
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Hobart, Darwin and Canberra ranked among top 10 global cities with lowest air pollution

The Guardian - Thu, 2024-11-14 00:00

Sydney was worst-ranked Australian city at 150th, receiving a poorer score than London

Three Australian cities are among the top 10 global cities with the lowest levels of air pollution, according to analysis of nearly 400 cities worldwide.

Hobart (third), Darwin (fourth) and Canberra (10th) topped the list, based on air pollution data analysed by Auto Trader, an online vehicle trading site.

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Carbon project developer in Africa surges ahead with Article 6 activities, expects first authorisation letter soon

Carbon Pulse - Wed, 2024-11-13 23:52
A developer of clean cooking and clean water projects in Rwanda and Ghana expects to achieve its first letter of authorisation over the next few months to begin trading carbon credits under Article 6.2, and is in advanced talks with multiple international governments, its CEO told Carbon Pulse.
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COP29: Ghana, Singapore further Article 6 relationship

Carbon Pulse - Wed, 2024-11-13 23:12
Ghana has announced a step forward under its agreement with Singapore on carbon markets by operationalising the digital trading and settlement of ITMOs under Article 6.2, according to a Wednesday announcement.
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Euro Markets: Midday Update

Carbon Pulse - Wed, 2024-11-13 22:57
European carbon prices dipped on Wednesday morning, even as the weekly positions data showed that investment funds cut their bearish bets to the smallest in more than a year, while natural gas prices struggled amid reports that additional supply may soon be finding its way to Europe.
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South Pole appoints new chief risk officer coming from global bank

Carbon Pulse - Wed, 2024-11-13 22:56
South Pole has announced the appointment of a new chief risk officer, hailing from a global bank, who will join the company in the new year.
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COP29: Verra, Amazonas state sign agreement to collaborate on carbon markets

Carbon Pulse - Wed, 2024-11-13 22:34
Verra and the government of Amazonas have signed a memorandum of understanding (MoU) Wednesday on the sidelines of COP29 to collaborate on strengthening the Brazilian state's engagement with carbon markets.
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Soaring grocery prices helped Trump to victory. The climate crisis is only going to make this worse | James Meadway

The Guardian - Wed, 2024-11-13 22:00

From olive oil to butter, extreme weather is pushing up the cost of living and having a dramatic political impact. Economists need a solution

In the US, where Donald Trump swept the board last week, it was the experience of sharply increasing essentials prices, from food to energy, that glued together the Republicans’ new electoral coalition. About 75% of those voting Republican reported that they had faced “hardship” or “severe hardship” as a result of price rises; only 25% of Democrats said the same. When Trump asked if Americans felt better now than they did four years ago, the answer for most was a clear no.

Price surges are having political impacts. In elections this year in three of the world’s largest economies, incumbent parties were hammered by voters angry about their helplessness in the face of the steeply rising cost of essentials.

James Meadway is director of the Progressive Economy Forum

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German nature tech company raises €1.6 mln to scale biodiversity monitoring platform

Carbon Pulse - Wed, 2024-11-13 20:57
A Germany-based nature tech company raised €1.6 million in pre-seed funding to scale its automated biodiversity monitoring platform, it announced on Wednesday.
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SK Market: November auction again oversubscribed, spot KAU price increases

Carbon Pulse - Wed, 2024-11-13 20:00
South Korea’s latest monthly CO2 permit auction was again oversubscribed with an increase in the clearing price, while sentiment in the spot market continues to improve partly due to the relaxation of the carryover rules. 
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Top firms see climate opportunities near $5 trillion, more than double previous estimates

Carbon Pulse - Wed, 2024-11-13 19:53
The world’s leading companies are eyeing nearly $5 trillion in potential gains from climate action, more than doubling since 2018, according to analysis released Wednesday.
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Blue carbon credits to help bolster Australian coastal ecosystem restoration project

Carbon Pulse - Wed, 2024-11-13 19:40
Australia’s Clean Energy Regulator has registered the nation’s second blue carbon project, which restores and enhances blue carbon ecosystems at a site that is part of a vast network of crucial habitats for migratory birds across East Asia and the Pacific.
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COP29: More than 40% of coral species at risk of extinction, assessment reveals

Carbon Pulse - Wed, 2024-11-13 19:00
Over 40% of reef-building coral species are at risk of extinction worldwide, according to a new assessment released Wednesday during the ongoing COP29 climate summit in Azerbaijan.
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