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World Bank must take ‘quantum leap’ to tackle climate crisis, UN expert says

The Guardian - Wed, 2024-04-10 23:00

Simon Stiell calls for reform at development banks to enable governments to provide more climate finance to developing world

The World Bank must take a “quantum leap” to provide new finance to tackle the climate crisis or face “climate-driven economic catastrophe” that would bring all the world’s economies to a halt, the UN climate chief has said.

Simon Stiell warned that there were just two years left to draw up an international plan for the climate that would cut greenhouse gas emissions in line with the goal of limiting temperature rises to 1.5C above preindustrial levels.

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Carbon credits increasingly associated with biodiversity requirements -study

Carbon Pulse - Wed, 2024-04-10 22:34
Two-thirds of the carbon credits generated by restoration projects and issued to date are associated with biodiversity-positive methodologies, though carbon standards following the UN Clean Development Mechanism (CDM) have failed to advance their nature requirements, a study has shown.
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Biodiversity impact measuring tools have “glaring gaps” -study

Carbon Pulse - Wed, 2024-04-10 22:26
The most commonly used tools to measure corporate impacts on biodiversity require urgent updates as they do not align well with the Kunming-Montreal Global Biodiversity Framework (GBF), according to a study released this week.
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Malaysian govt to incorporate state’s carbon trading bill into federal law

Carbon Pulse - Wed, 2024-04-10 22:21
The Malaysian federal government has agreed to integrate the state of Sarawak’s carbon trading bill as part of the federal law which will be presented before Parliament for approval, according to local media reports.
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Carbon markets could support CCS development, but more is needed -report

Carbon Pulse - Wed, 2024-04-10 21:56
Carbon markets could support carbon capture and storage (CCS) work but hurdles remain, such as return on investment, buyer appetite, and incentivising the entire chain including transport, according to a report released this week.
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German state aid for clean industrial production cleared by Brussels

Carbon Pulse - Wed, 2024-04-10 21:56
Brussels has given Berlin the green light to provide €2.2 billion of support for decarbonising industrial production processes, saying it fits under the EU's framework for allowing state aid in times of temporary crisis and transition, the European Commission announced on Wednesday.
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Euro Markets: Midday Update

Carbon Pulse - Wed, 2024-04-10 21:43
European carbon prices fell back after a strong opening as traders absorbed data showing that speculative investors had continued building bearish bets last week, shrugging off the biggest premium in a daily auction for two weeks, while energy markets snapped a four-day winning streak.
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US imposes first-ever limits on levels of toxic PFAS in drinking water

The Guardian - Wed, 2024-04-10 21:41

EPA takes action for first time in 27 years against ‘forever chemicals’ feared to be contaminating water for over 200 million

The US Environmental Protection Agency has set legally enforceable drinking water limits for a group of the most dangerous PFAS compounds, marking what public health advocates hailed as “historic” rules that will dramatically improve the safety of the nation’s water.

PFAS, known as “forever chemicals”, are ubiquitous in the environment and thought to be contaminating drinking water for over 200 million people across the US. Any exposure to some highly toxic varieties of the compounds is considered a health and cancer risk.

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Singapore faces biggest share of Asia’s €1 bln EU ETS shipping burden -research

Carbon Pulse - Wed, 2024-04-10 20:49
The inclusion of shipping in the EU ETS is likely to impose €1 billion in costs for the Asian shipping industry, with Singapore bound to take on around a third of that, according to research published Wednesday.
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Farmers warn ‘crisis is building’ as record rainfall drastically reduces UK food production

The Guardian - Wed, 2024-04-10 20:23

Reduction in yields means UK will be dependent on imports for wheat in coming year and possibly beyond

Record-breaking rain in recent months has drastically reduced the amount of food produced in the UK, farming groups have said.

Livestock and crops have been affected as fields have been submerged since last autumn.

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Study slams Taiwan’s biggest emitters for climate inaction

Carbon Pulse - Wed, 2024-04-10 20:11
Taiwan's biggest emitters are moving far too slowly on reducing their carbon emissions and shifting to renewable energy, risking imposing environmental costs to the tune of $20 billion on the economy while driving up electricity prices, according to a report released Wednesday.
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EU to propose 2040 climate plan, ETS revisions in 2026, official says

Carbon Pulse - Wed, 2024-04-10 19:54
The European Commission is planning to launch a public consultation on the EU’s 2040 climate target “in early 2025” with a view to putting a formal legislative proposal on the table the following year, a senior official has said.
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Carbon accounting firm launches product to help metals and energy firms disclosure supply chain emissions

Carbon Pulse - Wed, 2024-04-10 18:27
A carbon accounting platform has unveiled a solution aimed at helping corporates in the metals and energy sectors disclose supply chain emissions for both compliance and voluntary purposes, including for the EU's Carbon Border Adjustment Mechanism (CBAM).
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Standards body issues first carbon credits under new methodology for US-based algae bloom project

Carbon Pulse - Wed, 2024-04-10 17:16
A carbon credit standards body has issued the first batch of credits for a nature-based solutions (NbS) project based in Utah in the US, it announced on Tuesday.
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Industry, scientists must work together to advance soil carbon, expert says

Carbon Pulse - Wed, 2024-04-10 16:54
Soil carbon industry practitioners and soil carbon scientists need to be more open to learn from each other in order to build knowledge and consensus in the sector, an expert who has worked in both camps told a webinar Wednesday.
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Octopuses could lose eyesight and struggle to survive if ocean temperatures keep rising, study finds

The Guardian - Wed, 2024-04-10 16:16

Heat stress from global heating could lead to impaired vision and increased deaths of pregnant mothers and their unborn young, Australian researchers say

Octopuses could lose vision and struggle to survive due to heat stress by the end of the century if ocean temperatures continue to rise at the projected rate, a new study has found.

While previous research has suggested octopuses are highly adaptable, the latest research found heat stress from global heating could result in impaired eyesight and increased deaths of pregnant mothers and their unborn young.

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CCAs jump as ARB embraces 48% GHG reduction in evaluation of proposed cap-and-trade changes

Carbon Pulse - Wed, 2024-04-10 16:07
California Carbon Allowance (CCA) values in the secondary market got a boost Tuesday from the highly anticipated release of an economic impact analysis of a proposed cap-and-trade rulemaking that programme regulator ARB submitted to a state agency.
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