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A deal by senior MEPs to raise ambition in the EU ETS is likely to be shot down by the full European Parliament, the assembly's lead lawmaker on the issue said on Wednesday, citing the intense pressure on politicians to curb sky-high energy costs.

US Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam on Wednesday announced the agency will convene a meeting on voluntary carbon markets next month, as futures contracts are changing the landscape of voluntary emissions reduction (VER) trade.

Once thought to be at death’s door, the UN’s Clean Development Mechanism (CDM) lingers in the Paris Agreement-era, although there is a deep well of complexity on how its credits may be issued and used – resulting in many project proponents jumping ship for clearer waters in the voluntary carbon market.

Custodians of petroglyphs in remote north-west say Woodside’s $12bn ‘carbon bomb’ spells disaster for culture and climate

As the last of the sun’s rays curl away from the coast in Australia’s remote north-west, Josie Alec opens her arms and sings in traditional language to a mass of ochre-coloured rocks along Hearson’s Cove. But her voice competes with the low rumble of a gas production plant less than a kilometre away, its flared emissions lightly hazing the sky above the beach.

This is the duality of what First Nations people refer to as Murujuga country, home to one of the world’s largest and oldest collections of rock carvings as well as one of the largest new fossil fuel developments in Australia in a decade.

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UN climate envoy says world cannot afford to derail progress because of energy crisis linked to invasion

The UN climate envoy Mark Carney has warned against deferring emissions reduction targets in reaction to the energy crisis linked to the war in Ukraine, saying it will only require more “radical” action in the future.

The former Bank of England governor said he recognised the impact sanctions on Russia were having on global energy supplies and the cost of living, but added that governments could not afford to derail climate progress that could help achieve the 1.5C limit on global heating.

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A non-profit has launched an initiative to sell carbon credits as part of packages to consumers that want to offset their annual activities at a market rate of $15/tonne, the group said in a release on Wednesday.

The partnership of Chris Martin’s band with biofuel producer Neste has raised eyebrows about the green credentials of their new tour

Coldplay had a head full of dreams this week when they announced the details of a low-emission world tour driven by concerns for sustainability. Some of the green interventions are well-meaning, others are just gimmicks, such as a kinetic dance floor that generates electricity from the movement of fans. However, the detail of some of the proposed climate measures would appal even the mildly eco-minded.

Perhaps worst of all is the partnership with Neste – a Finnish oil refining and marketing corporation that will provide the band with “sustainable aviation fuels” for flights and “renewable diesel” for tour transportation and stage power generation.

Eleanor Salter writes about climate, culture and politics

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The wave of carbon asset NFTs is upon us, and while many regular market participants will look down their noses at the prospect, some are pushing to take carbon credits to places they have never gone before.

Australia’s first giga-scale battery manufacturing facility – being built in the heart of New South Wales’ coal country – is nearing completion and has signed up three new Australian suppliers to ensure near 100 per cent Australian made components. The solar powered Renaissance One plant in the Hunter Region industrial suburb of Tomago – near […]

The post Australia’s first battery giga-factory nearly complete, signs up local suppliers appeared first on RenewEconomy.

A UK carbon capture company has secured $150 million in equity funding to scale up its technology that could drive down heavy industry capture costs to $30/metric tonne, it claimed Wednesday.

EUA prices dropped sharply mid-morning on Wednesday after a senior EU lawmaker confirmed the European Parliament will vote next week on a proposal to limit non-compliance participation in the EU ETS.

Singapore will use the eligibility criteria set out in CORSIA, the global aviation offset mechanism, for emitters who will be allowed to offset a small portion of their emissions under the country’s carbon tax scheme, an official from the country’s National Climate Change Secretariat (NCCS) said on Wednesday.

Wales only UK nation to exceed 50% as households in England recycle less in 2020 than 2019

Recycling rates in England are falling and the government has failed to meet its target to recycle 50% of waste from households by 2020. But Wales has become a world leader, with the country recycling 56.5% of its household waste.

Household recycling rates in England went down from 46% in 2019 to 44% in 2020. The Department for Environment, Food and Rural Affairs said the Covid pandemic had disrupted collections in some areas.

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Construction begins on Australia's first gigawatt scale wind project, adding to a strong start to 2022 for Australia's renewables industry.

The post Construction begins on Australia’s first gigawatt scale wind project appeared first on RenewEconomy.

India’s plans to establish a uniform and more effective framework for a voluntary carbon market (VCM) has wide backing domestically from industry players, but moves to facilitate the rapidly growing interest in carbon credits also face complex challenges for regulators, according to analysts.

After more than a decade of debate, the coastal commission is set to vote on the proposed $1.4bn project near Los Angeles

California officials are poised to decide the fate of a controversial desalination plant planned along its southern coast, in a vote that comes as the American west battles an increasingly perilous drought.

California water use leapt 19% in March, amid one of the driest months on record. After more than a decade of debate, the California coastal commission on Thursday will finally vote on a proposal for a $1.4 bn desalination plant in Huntington Beach, south of Los Angeles.

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South Korea’s monthly KAU auction cleared Wednesday at the lowest level seen for the 2021 emissions year, with less than half the volume on offer picked up despite the government making cuts in the available number of units.

A newly established carbon trading platform in China is being met with suspicion among market participants after refusing to disclose information about its projects and the offsets it has issued.

Papua New Guinea environmental NGOs have accused the government’s Climate Change Development Authority (CCDA) of failing to provide stakeholders with enough time to scrutinise REDD+ safeguard documents, and to properly enforce its moratorium on such projects to be developed for the voluntary market.

Participants in Japan’s voluntary emissions trading scheme will not be required to set specific emissions targets for the current financial year, but instead focus on the preparation for the full-scale launch of the market in April next year, the government said Wednesday.