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‘Premature austerity will threaten growth’ as world recovers from Covid-19, says climate economist

Wealthy nations must ignore calls to rein in public spending as the economic recovery from the Covid-19 pandemic gathers pace, or risk a fresh crisis, the climate economist Nicholas Stern has warned.

Leaders of the G7 industrialised countries are meeting in Cornwall this weekend, to discuss vaccines, the recovery from the pandemic, and the climate crisis.

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‘Queen of the Deep’ says it is not too late to reverse human-made damage to oceans and preserve biodiversity

The world has the opportunity in the next 10 years to restore our oceans to health after decades of steep decline – but to achieve that, people must wake up to the problem, join in efforts to protect marine areas and stop eating tuna, according to the oceanographer and deep sea explorer Sylvia Earle.

“We are at the most exciting time maybe ever to be a human, because we’re armed with knowledge,” said Earle, also known as the Queen of the Deep and “her Deepness”. Earle has also set numerous records for deep sea diving, and was the first woman to serve as chief scientist of the US National Oceanic and Atmospheric Administration.

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Retired 79-year-old John Stimpson started making the boxes as a hobby and now does it full-time.

A daily summary of our news plus bite-sized updates from around the world.

Speculators’ California Carbon Allowance (CCA) positions sailed higher this week, with financial firms taking additional length on future vintage allowances, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

California Carbon Allowance (CCA) prices soared to a new all-time high on Friday morning, with traders attributing the gains to additional speculative demand coupled with few sellers on the secondary market.

A pair of Missouri-based dairy digesters previously registered under California’s compliance offset programme applied for fuel pathways under the Low Carbon Fuel Standard (LCFS), with only one having previously generated compliance-grade credits, according to documents published Thursday.

EU energy ministers on Friday agreed their common position on the EU’s cross-border energy infrastructure regulation, leaving the door open to blending hydrogen with natural gas in a transitional phase despite opposition from several member states.

Switzerland’s updated climate plan is being put to a referendum on Sunday, with experts deeming the vote too close to call despite wide political support for proposals including less reliance on foreign offsets and innovative flight taxes.

A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including developments in Colorado, the New England Independent System Operator, and North Carolina.

EUAs fell by more than €1 and UKAs shed £1 on Friday to give back some of the week's strong gains, as supply concerns mounted and confidence faded that prices might see a near-term return to their recent all-time highs.

The space industry is one of the UK's fastest growing sectors, worth £14.8bn a year.

US biofuel credits (RINs) careened as much as 15% on Friday morning after a news outlet reported that President Joe Biden’s administration is considering relief for Renewable Fuel Standard (RFS) obligated parties to alleviate continued record prices under the programme.

As world leaders flocked to the G7 summit at Carbis Bay in Cornwall to discuss the Covid pandemic recovery and the climate emergency, activists have also taken the chance to demonstrate to the leaders of seven of the wealthiest global democracies.

From a swarm of 300 drones creating 3D images of endangered species to protesters running around in Pikachu costumes, demonstrators have got creative to get the attention of politicians and the press. Here are some of the most impressive stunts

• Tell us: are you planning on joining protests at the G7 summit?
• G7 signs of protest in Cornwall – in pictures

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An absolute cap on ETS emissions and allowance auctions that would generate revenue for a new fund are among proposals released by Shenzhen’s government as the city seeks to overhaul its carbon market to align it with China’s national climate ambitions.

Ship cannot sail out of Egyptian waters as authorities detain crew and cargo until owners pay for blockages

Lemons, bamboo shoots and tofu sit in the sweltering heat, alongside goods from Lenovo, Ikea, Dixons Carphone and dozens of other brands – including barbecues, sun loungers, swimwear, lawnmowers and camping equipment – and will arrive at their intended destinations long after summer ends.

Since the successful operation to dislodge the 220,000-ton Ever Given from the Suez canal, where it was stuck for six days, the cargo ship has been grounded again – this time by a fierce legal battle between the ship’s owners, insurance companies, and the Suez Canal Authority (SCA).

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The AbCF is seeking a multi-skilled Indigenous person to be based in Cairns with a proactive personality, who rolls up their sleeves and gets stuck into complex projects that often involve juggling multiple deliverables and working with many different stakeholders that require strategic ways of working and communicating.

Single-use plastic from take-out food is a big source of pollution in oceans and rivers, scientists say.

We must find a way to embrace shipping, the ocean and our place in the world without shackling ourselves to unpayable foreign debt

Growing up in Sri Lanka in the 1990s, it was drilled into me from an early age that my island was destined to be a maritime hub. At school, I was taught that Sri Lanka was once the heart of the maritime Silk Road, a network of trade routes that connected the east and west from 130BC to the mid-1400s.

My textbooks were filled with tales about how Sri Lanka’s strategic positioning and rich natural resources were so prized that it was consecutively colonised by the Portuguese, Dutch and British empires for almost four centuries.

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The 10-year-old was snorkelling at Five Finger Reef near Coral Bay when a two-metre bronze whaler bit him on the foot

A young boy has been flown to hospital after a shark bit him on the foot while he was snorkelling near Coral Bay in Western Australia.

The 10-year-old was attacked by a two-metre bronze whaler at Five Finger Reef, south of the remote town, about 11am on Friday, the state’s Department of Primary Industries and Regional Development said.

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