Feed aggregator

Australia’s 2030 target of a 26%-28% reduction is totally inadequate compared with those from our best friends and allies

The US climate target for 2030 blows Australia’s out of the water. Together with dramatically strengthened targets by several other major countries, it resets expectations. And it puts big pressure on Australia to lift our game. If we don’t, we will be seen in the ranks of countries such as Russia, Saudi Arabia and Brazil. If we do, it will help position the economy for the future.

The US has now pledged to cut emissions by 50% to 52% by 2030 relative to 2005. In 2019, US emissions were just 13% below 2005 levels. The target is far stronger than most would have thought possible not long ago. To achieve, it would require deep change across the US economy, with comprehensive policies from both federal administration and the states, and rapid action by investors.

Continue reading...

California and Quebec emissions will outpace WCI cumulative CO2 caps towards the latter half of the decade, with annual shortages anticipated as early as two years from now, analysts said at the North American Carbon World conference Thursday.

A new report shows the stunning potential of wind and solar to fully displace fossil fuels from the world.

The post Wind and solar could replace fossil fuels 100 times over, says new report appeared first on RenewEconomy.

Morrison tells Biden climate summit Australia on pathway to net-zero, but PM under pressure to increase scale of ambitions

• Changes to giant ocean eddies could have ‘devastating effects’ globally
• Malcolm Turnbull accuses resources minister Keith Pitt of living in ‘coal-hugging bubble’
• Biden vows to slash US emissions by half to meet ‘existential crisis of our time’

Scott Morrison has told world leaders that future generations will “thank us not for what we have promised, but what we deliver” in his contribution at a virtual climate action summit convened by the president of the United States, Joe Biden.

With major countries, including the host, lining up at the event to significantly upgrade their emissions reduction targets, and with world leaders highlighting the urgency of ambitious action in the coming decade, Morrison made no new commitment, instead sticking to the country’s 2030 target of a 26%-28% cut compared with 2005 levels.

Continue reading...

US prosecutors have extradited a British man to face trial for his role in an international carbon credit fraud scheme.

As major emitters took major steps to enhancing climate action, Scott Morrison figured out a stunning new way to fake emissions reductions.

The post Morrison finds shameless new way to fake climate action as world steps up appeared first on RenewEconomy.

Several Mexican government agencies are reviewing a draft forestry protocol for use under the country’s proposed emissions trading scheme, an official said Thursday, while protocols for livestock, agriculture, and road transportation are in earlier stages of development within the environment ministry.

Avenues of Honour were planted to remind us of the sacrifice and suffering of our servicemen and women. But as the years wore on, many declined or disappeared. Gregory Moore, Doctor of Botany, The University of Melbourne Licensed as Creative Commons – attribution, no derivatives.

We'd lose coal exports but benefit from a lower Australian dollar. Philip Adams, Professor at the Centre of Policy Studie, Victoria University Licensed as Creative Commons – attribution, no derivatives.

Climate activist asked to speak at hearing as part of push by Democrats to include fossil fuel subsidy elimination in bill

Subsidies given to fossil fuel companies are a “disgrace” and must be immediately ended, Greta Thunberg, the Swedish climate activist, has told a US congressional committee.

A sweeping $2tn infrastructure plan put forward by Joe Biden has proposed the rolling back of support and tax breaks for oil, gas and coal producers to help lower planet-heating emissions and pay for new investments. Eliminating such subsidies would bring in $35bn to the US government over a decade, according to the Biden administration.

Continue reading...

California Carbon Allowance (CCA) prices rose on the secondary market amid increased speculative demand and continued bullish floor price outlooks, while RGGI Allowances (RGA) sunk amid relatively thin volume.

The US Senate Committee on Agriculture, Nutrition, and Forestry unanimously approved a bipartisan bill on Thursday designed to create a framework within which farmers, ranchers, and private forest owners can receive payments for generating carbon credits through implementing climate-smart practices.

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

Greta Thunberg appeared virtually before a House subcommittee Thursday to call on US officials to do more, saying it’s ‘not too late’ to make real changes in the fight against climate change. ‘The simple fact and uncomfortable fact is that if we are to live up to our promises and commitments in the Paris agreement, we have to end fossil fuel subsidies, stop new exploration and extraction, completely divest from fossil fuels and keep the carbon in the ground,’ the climate activist said. Her comments came during the environment subcommittee remote hearing on ‘The role of fossil fuel subsidies in preventing action on the climate crisis’ and also Earth Day

• Greta Thunberg in climate call to young people: ‘No limits to what we can accomplish’ – live

Continue reading...

The government is under pressure to do more to tackle global heating but critics say the PM has instead employed ‘Trumpian misrepresentation’

• Morrison refuses to budge on target as Biden pledges to halve US emissions
• US vows to cut its emissions by at least 50% by 2030

As Australia came under international pressure to lift its climate commitments ahead of a virtual summit hosted by the US president the prime minister, Scott Morrison, and his emissions reduction minister, Angus Taylor, have made a series of claims to defend the government’s position.

Do they stack up? Adam Morton looks at the evidence.

Continue reading...

The EU’s carbon border adjustment mechanism (CBAM) should be linked to the bloc’s ETS and only gradually reduce the share of free allocation of allowances while avoiding double protection for EU industries, according to a report from a Brussels-based think-tank released Thursday.

Government urged to bring in successor, but learn lessons from ‘botched implementation’

Applications for a grant to cut carbon emissions from houses surged in the month before the £1.5bn scheme was shut down by the government.

The green homes grant which was announced by Boris Johnson as a key measure to cut UK carbon emissions was scrapped six months after its launch.

Continue reading...

Prime minister calls on countries to come to Cop26 ‘armed with ambitious targets and plans’

With just over six months to go until vital UN climate talks, Boris Johnson has urged world leaders at a virtual White House summit to step up with plans for cutting greenhouse gas emissions this decade.

“It’s vital for all of us to show that this is not all about some expensive politically correct green act of ‘bunny hugging’ or however you want to put it,” the prime minister told the possibly slightly puzzled leaders. “Nothing wrong with ‘bunny hugging’ but you know what I’m driving at.”

Continue reading...

Speaking at a virtual summit, Boris Johnson urges world leaders to "build back greener".

The US, UK, and Norway launched a coalition on Thursday with to raise $1 billion in private capital for jurisdictions that reduce deforestation emissions under the Architecture for REDD+ Transaction's (ART) programme.