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TOP STORY
SBTi poised to validate voluntary carbon credit use for corporate Scope 3 emissions goals
The Science Based Targets initiative (SBTi) has decided that voluntary carbon credits may be used to offset corporate Scope 3 emissions, the body said Tuesday, it what should provide a significant boost for offset demand.
EMEA
LEAK: EU’s draft ‘strategic agenda’ for 2024-29 sees climate policy relegated to second row
A draft outline of the EU’s next “strategic agenda” for 2024-2029, seen by Carbon Pulse, puts defence and security at the top of the EU’s political priorities, while climate policy is refocused on strengthening the bloc’s industrial and strategic independence.
FEATURE: EU set to clamp down on methane, but some worry coal emissions will slip through
The European Parliament is set to approve a widely welcomed law this week designed to reduce potent methane emissions from the EU’s energy sector — although some worry it doesn’t go far enough to plug pollution from vast abandoned coal mines.
Switzerland violates women’s human rights by failing to tackle climate change, European court rules
Switzerland’s failure to reduce greenhouse gas emissions violates its obligations under the European Convention on Human Rights (ECHR), the Strasbourg’s Grand Chamber ruled on Tuesday in a landmark decision.
EU lawmakers recommend withdrawal from Energy Charter Treaty
European Parliament members on Tuesday recommended that the EU make a concerted withdrawal from the Energy Charter Treaty (ECT), an international trade agreement, which they accuse of contradicting the Paris Agreement’s goal to limit global warming to 1.5C.
Pressure mounts on EU member states to plug conventional and clean shipping fuel cost gap -stakeholders
The pressure to bridge the gap between conventional and clean fuel for the shipping sector is shifting to EU member states, a panel at the European Parliament heard on Tuesday, while key industry stakeholders also stressed the need to reserve climate solutions for hard-to-abate sectors like maritime and aviation.
EU industrial heavyweights outline green priorities for next European Commission
Germany, France, and Italy spelt out their industrial policy priorities for the next European Commission on Monday, with a heavy emphasis on measures to defend the EU’s clean tech sector against US protectionism and Chinese dumping.
International steel competitors may reserve low-carbon products for EU to bypass CBAM -industry
International competitors of the European steel industry may bypass the bloc’s Carbon Border Adjustment Mechanism (CBAM) fees by building specific low-carbon facilities whose products will be reserved for the EU market, the head of a regional association said on Tuesday.
Norway funds study to assess feasibility of direct air capture and storage plant
A carbon removals developer has secured 26 million Norwegian krone (£1.9 mln) in funding to study the feasibility of building a direct air capture and storage plant in Norway, it announced on Tuesday.
Euro Markets: Carbon shrugs off afternoon weakness in energy to post fourth consecutive gain
European carbon prices rose for a fourth day on Tuesday as a robust reaction to a slightly below-average auction drove the market to a 10-day high, while an afternoon slide in natural gas prices was largely ignored, leading some to wonder whether speculative investors might be further reducing their short positions.
VOLUNTARY
FEATURE: Voluntary carbon projects still need sifting despite ICVCM stamp of approval
Work by the Integrity Council for Voluntary Carbon Markets (ICVCM) to label credits with the Core Carbon Principles (CCP) stamp will only go so far in determining the quality of supply, as project-level assessments will still be required to help buyers identify good projects, say market stakeholders.
Carbon project developer secures authorisation from Tanzania for first Article 6 credits
The Tanzanian government has issued a letter of authorisation (LOA) to a carbon project developer, meaning credits generated from its cookstove activities in the country can apply corresponding adjustments when sold on the international market.
Price volatility, supply issues, low liquidity in CORSIA voluntary carbon market leave traders debating involvement -analysts
Traders are debating the merits of engaging with the nascent CORSIA aviation carbon market, a webinar heard Tuesday, with some risk managers weighing the promise of inexpensive regulatory compliance against large uncertainties.
Portugal establishes technical committee to oversee voluntary carbon market
The Portuguese Ministry of Environment and Climate Action has established a technical committee to evaluate carbon methodologies and the performance of the voluntary carbon market (VCM), according to a decree published Monday in the Official Gazette.
New reporting software aims to help companies comply with EU corporate sustainability rules
A climate software firm is launching a new tool to help companies report under the EU’s Corporate Sustainability Reporting Directive (CSRD), which will see more than 50,000 companies worldwide submit new sustainability data to Brussels.
CORRECTION – Canadian project financier receives first correspondingly-adjusted, Article 6 authorised carbon credits from Verra
(Corrects to clarify these credits are the first-ever correspondingly-adjusted and Article 6 authorised credits from Verra)
AMERICAS
CCAs jump as ARB embraces 48% GHG reduction in evaluation of proposed cap-and-trade changes
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.
ARB considers increase in carbon intensity step-down and role of biofuels in LCFS
California regulator ARB is staying on course with the 2030 carbon intensity (CI) benchmark proposed in draft amendments last year, but is mulling adjustments to the one-time CI step-down for 2025 among other considerations based on stakeholder feedback.
US federal court upholds California’s authority to set state clean vehicle air standards
A Washington DC federal court ruled Tuesday in favour of defendants of a Clean Air Act (CAA) waiver to California, reinforcing the state’s longstanding authority to set its own standards that are stricter than those at the federal level.
California Senate committee passes tax credit funding for farm soil carbon sequestration
A California Senate committee unanimously passed through funding from the cap-and-trade programme revenues on Tuesday to facilitate a tax credit to farmers for composting practices that enhance CO2 sequestration.
US environmental group, energy firm strike “landmark” community benefits agreement for CO2 pipeline
A Colorado-based energy firm and a Nebraska environmental group announced a “landmark” community benefits agreement on Tuesday that ensures a proposed CO2 pipeline can proceed unopposed, setting a precedent for similar projects dealing with local opposition.
RGGI Q2 auction offers slightly higher allowance volumes absent CCR buffer
The volume of allowances on offer inched up for the second RGGI auction of 2024, with a conspicuous zero balance in the scheme’s Cost Containment Reserve (CCR) that was exhausted at the Q1 sale, a notice showed Tuesday.
Colombia warns of violation risk in REDD+ projects, extortion of voluntary carbon developers by armed groups
The Office of the Ombudsman in Colombia has issued an official notice about several sectors, including REDD+ voluntary carbon projects, warning of the risk of violations of Indigenous and local community rights, as well as extortion by illegal armed groups.
UN, Brazilian NGO announce German-funded $4.9-mln project to combat deforestation in Brazil
A UN agency and a Brazilian NGO on Tuesday announced a new initiative to promote payment for environmental services (PES) for deforestation-free supply chains, focusing on the Atlantic Forest biome in Brazil – a region critically endangered by deforestation activities.
ASIA PACIFIC
Chinese steelmaker begins carbon trading simulation as ETS expansion nears
One of the largest steelmakers in China has begun to simulate carbon trading under the national emissions trading scheme, as the government prepares to bring steel to the world’s largest CO2 market.
Philippines registry operator sets up partnership to pave way for green hydrogen ITMO trades
The operator of the Philippines’ national carbon registry has teamed up with a Brisbane-based company to promote green hydrogen solutions, as part of a strategy to encourage the creation and trading of Paris-aligned carbon credits.
NZ Market: NZU price inches lower as market has lost its floor, companies join ag emissions partnership with govt
The NZU price has fallen 6% this week, with market participants saying there is nothing stopping it from sinking lower as a result of weak demand and a lack of policy direction coming from the government.
Japanese heavyweights partner in SAF, BECCS project in the US
A Japanese oil and gas company has joined a trading house and bioenergy hopeful to produce sustainable aviation fuel (SAF) via a biomass project on the US Gulf Coast, where the bulk of its LNG exports depart.
‘Positive narrative’ on carbon pricing emerging in Australia, but risks and challenges remain, report says
Growing compliance demand driven by the Safeguard Mechanism and corporates looking to meet ESG requirements is creating a ‘positive narrative’ on carbon pricing and carbon markets in Australia, although ongoing risks and challenges remain, according to a report published Wednesday.
INTERNATIONAL
Investors are failing to hold directors to account for climate risk, report finds
So-called responsible investors are shirking their duties to push for company directors with better climate policy, according to a report released Tuesday.
G20, MDBs channel $47 bln per year into fossil fuels, while clean energy finance lags -report
G20 countries and multilateral development banks provided at least $47 billion per year to fossil fuel projects between 2020 and 2022, with much less funding flowing to clean energy projects, according to research released on Tuesday.
BIODIVERSITY (FREE TO READ)
CDC Biodiversite to launch free footprinting tool in “huge” step
French data company CDC Biodiversite will this week launch a free version of its biodiversity footprinting tool Global Biodiversity Score (GBS) with limited features.
Colombia forecasts Amazon deforestation to pick up, downsizes 2023 estimates
Deforestation in Colombia’s Amazon region is expected to climb again this year, as government data released on Monday showed a 40% surge over the first quarter of 2024 compared to the same period in 2023.
Private land conservation group fears Australia is weakening its nature targets
The Australian government appears to be downgrading its biodiversity conservation targets, a peak nature body has warned, based on information in a recent consultation.
UK-France panel reveals extended biodiversity credits survey results
A UK-France biodiversity credits panel has published a more detailed version of its call for views on biodiversity credits, as the initiative prepares to launch an Indigenous-focused consultation.
Biodiversity Pulse: Tuesday April 9, 2024
A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).
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CONFERENCES
European Climate Summit – April 16-18, Florence: To kick off its annual regional climate summit series this year, IETA looks forward to welcoming delegates to its flagship ECS2024 event, taking place in Italy. ECS comes at a key inflection point for the region’s carbon market. How will the European carbon market evolve in its next phase, which starts in 2031? Around the world, carbon markets are emerging at the fastest ever pace, with new emissions trading systems being developed from Brazil to Vietnam. More markets may mean more opportunities for international cooperation and linking, and some of these could come to Europe. The health of the voluntary carbon market is also a hot topic this year, as the market works to overcome challenges. Environmental integrity and robust quality assurance are at the top of everyone’s mind, and IETA’s ECS2024 will address these issues as well. To register, simply click HERE to join as a delegate. In-person event.
Next steps for the UK Emissions Trading Scheme – April 22, Online: Hosted by Westminster Energy, Environment & Transport Forum, stakeholders and policymakers will explore priorities for implementation and maximising the carbon market’s contribution toward the UK’s net zero strategy. Discussion will consider policy priorities, challenges for industries, and plans to expand the scheme to include domestic shipping and energy from waste. Sessions will also explore the auction reserve price, the forthcoming CBAM, and strategies to enhance the UK ETS’s efficacy while mitigating negative impacts. Book your place
Carbon Forward Turkiye – May 9-10, Izmir: With the launch of the pilot ETS in Q4 and a burgeoning voluntary carbon market in the country, this event will give attendees an understanding of the significant impact these schemes, as well as the EU’s CBAM, will have on your business. Full conference agenda coming soon. Secure your spot
Argus Asia Carbon Conference – May 13-15, Kuala Lumpur: Join over 200 industry leaders and senior government officials at the Argus Asia Carbon Conference in Kuala Lumpur on 13-15 May 2024. Connect with key players and explore new opportunities in the region as we discuss innovations in carbon technology, advances in voluntary and compliance markets, the impact of CBAM, financing, nature-based project developments, and more. With ministerial addresses and keynote sessions from Petronas and SaraCarbon, this is your opportunity to gain valuable insights on pan-Asia’s evolving carbon markets. Register
Argus Europe Carbon Conference – May 21-23, Nice: Plan your carbon strategy through market-driven decarbonisation solutions at the at the Argus Europe Carbon Conference on 21-23 May in Nice, France, as we examine the EU ETS and other global compliance structures, voluntary carbon markets and their intersection with carbon abatement industries. This year’s agenda covers the integration of the maritime sector into the EU ETS, the impact of Europe’s exported carbon price through CBAM, developments in carbon removal technologies, voluntary certification methods, and developments around diverse, high-quality credits from Verra and many other leading standards. Register your place to explore new opportunities within Europe and globally.
Eurelectric “Lights ON” Power Summit – May 22-23, Lagonissi, Greece: This is our biggest event gathering every year around 500 energy experts across Europe. This year, we’ll welcome more than 60 speakers to discuss:
- Getting Europe’s power infrastructure ready for net-zero
- Delivering on the EU 2040 climate targets
- Powering Europe’s industrial competitiveness with affordable energy
- Ensuring security of supply in more hostile energy geopolitics
- Implementing the electricity market reform
- Speeding up digitalisation
- Integrating renewables with biodiversity
Carbon Forward North America – June 11-12, Toronto: Join us in the Great White North to hear about the evolving carbon pricing and climate policy landscape in North America. Whether you are an emitter, investor, developer, or a new participant in any of the continent’s carbon markets – compliance or voluntary – Carbon Forward North America offers you the opportunity to gain knowledge on both present and future policy developments and market opportunities. Explore the chance to meet the right people or source the right solutions to help you enhance your business prospects or minimise your risk. Come meet the region’s world-leading carbon market experts, compliance players, government officials, investors, project developers, analysts, brokers, and other stakeholders. Agenda to be released soon. To express an interest in speaking or sponsoring, please email michelle@carbon-forward.com
Carbon Forward Expo – October 8-10, London and Online: Save the date! More info coming soon…
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BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
Rigorous rulings – University of Oxford academics are calling for rigorous net zero ‘ground rules’ — encompassing laws, regulation, and policy — to be implemented and enforced globally, in an article published in Nature Climate Change. Mandatory, legally enforceable rules are needed to advance the climate transition instead of just voluntary action, say the authors, as enforceable rules are harder to reverse, help level the playing field, and can be legally enforced with greater ease. Voluntary initiatives so far governing net zero have helped lay the groundwork for enforceable rules, and as such incentives spread across the economy, they create growing political pressure for voluntary pledges on carbon emission reduction to be turned into mandatory ground rules, say the academics.
Swapping debt – Multilateral development banks should support highly-indebted, climate-vulnerable countries to implement debt-for-climate swaps, according to Ilan Goldfajn, the Brazilian economist at the helm of the Inter-American Development Bank (IDB), adding that this mandate is consistent with the overarching ‘common ground’ strategy of Brazil’s G20 presidency. Debt-for-climate or debt-for-nature swaps exchange more burdensome debt for new debt with reduced costs on condition of using freed-up funds for targeted climate or nature purposes. The IDB helped facilitate and fund a debt-for-nature swap in Ecuador – the largest such swap to date, generating lifetime savings of more than $1.13 bln – in 2023.
EMEA
Wasted potential – England could produce as much as 13 times more renewable energy than today, using less than 3% of its land area, according to new analysis by Exeter University, commissioned by Friends of the Earth. Onshore wind and solar projects alone could generate enough electricity to power all households in England two and a half times over, the research found. Currently, about 17 gigawatt-hours (GWh) of electricity comes from domestic renewable energy, yet there is potential for 130 GWh to come from solar and 96 GWh from onshore wind, the researchers says. These figures only take into account the most suitable sites and exclude national parks, areas of outstanding natural beauty, and heritage sites. There is also plentiful land available for renewable production without impairing agricultural production, the study claims. Last year, Prime Minister Rishi Sunak claimed to enable the ban on onshore wind farms in England to be lifted through small changes to planning regulations, but campaigners say they were ineffectual and that real planning reform is needed. (the Guardian)
Easing concerns – The UK government is trying to ease concerns about the risk of delays to the Sizewell C nuclear plant and subsequent cost overruns in a bid to attract private investors and shield consumers, Bloomberg reports. The plant is key to meeting the UK’s net zero goal by 2050 and to quadrupling nuclear capacity in the country. The only other major nuclear plant underway in Britain — EDF’s Hinkley Point C project — has been repeatedly delayed and is currently expected to cost as much as £47.9 bln ($60.7 bln). The 3.2 GW Sizewell C reactor uses the same design of that plant and EDF expects it will be delivered at a much lower cost. The government is now revising some mechanisms designed to encourage the project to be delivered on time, including adding a grace period to the mechanism called a ‘delay weighted average cost of capital’, which is meant to reduce returns if Sizewell is completed late.
Nuclear takes a beating – Europe’s nuclear industry is being hit by a slump in power prices and surging renewables as demand for atomic power takes a battering, Bloomberg reports. Power demand hasn’t fully recovered since the energy crisis and the region’s wind and solar parks are producing more power than ever before – eating into the share of both nuclear and coal power plants. Longer term, it’s a warning sign that reactors may increasingly get squeezed out of the mix, even as countries like France and the UK plan to spend huge sums on new plants. Indeed, more than 20 nations called for a tripling of global nuclear generation by mid-century at COP28 late last year. EDF is already having to reduce nuclear output, halt plants, or extend stoppages just after getting its fleet of nuclear plants back on track after years of lengthy outages for repairs. Meanwhile, Luc Remont, CEO of EDF said that greater visibility is needed on how carbon prices will evolve over time, and that the recent fall in the cost of certificates in the EU ETS needs to be halted.
Another CBAM fail – EU Companies are experiencing more technical issues when submitting the second Carbon Border Adjustment Mechanism (CBAM) report, companies posted on LinkedIn. In some cases, the bug leads to data loss when submitting a CBAM report. The reason lies in an error in report validation. This is the second time this happens, as when companies had to submit their first EU CBAM report, they experienced technical difficulties with the Commission’s registry which mean the European Commission extended the deadline by a month.
ASIA PACIFIC
Count me in – Japan’s JA Mitsui Leasing has decided to invest in the Manulife Forest Climate Fund, which seeks to create carbon credits by managing and operating forests in North America, it said in a statement released this week, without disclosing the investment size. The fund, operated by global wealth and asset manager Manulife Investment Management and targets $500 mln in committed capital, recently secured $224.5 mln in initial commitments along with its affiliated offshore vehicles.
Gas demand fall off to hit Australia – Australia has already lost its lead as the world’s largest LNG exporter as a wave of new US projects coming online have overtaken it but it could be in for more pain as demand from its large North Asian customers declines. Think tank the Institute for Energy Economics and Financial Analysis suggests companies should either ‘divest’ or ‘harvest’ and will need to restructure and bring new talent into their executive teams. Japan, South Korea, and China take the bulk of Australia’s LNG exports, with long-term contracts and also stakes in LNG plants, and fields. While overall Japanese demand has been falling, it also seems to see a future as one company recently took a stake in a new, greenfield project operated by Australia’s Woodside Energy.
Sea forest conservation – South Korea’s Hyosung Group, Wando County, and the Korea Fisheries Resources Corporation have signed a Memorandum of Understanding to launch a cooperation project on carbon neutrality and biodiversity conservation. The agreement aims to enhance marine ecosystem preservation through the creation and management of sea forests. Hyosung will run a blue carbon project in an area of approximately 1.6 sq. km in southern Wando County.
Cash from the ARENA – The Australian Renewable Energy Agency awarded A$59 mln ($39 mln) to 21 research projects to support R&D and commercialisation work in the renewable hydrogen and low emissions iron and steel sectors, it announced. ARENA initially meant to only hand out A$25 mln to the research, but said due to the quality of applications, they expanded the funding to A$59 mln. Grant funding for each successful applicant ranges between A$1.3-5 mln. Projects awarded funding included upcycling steelmaking slag for material use, electric smelting furnace processes, and hydrogen export using power. Australia is the world’s largest exporter of iron ore, supplying up to 53% of international exports each year, and decarbonisation through the iron & steel value chain would have a significant impact on global emissions reduction, ARENA said.
AMERICAS
Tightening the rules – The Environmental Protection Agency is mulling over whether to significantly strengthen proposed limits on climate-warming pollution from power plants, according to three people briefed on the matter who spoke on the condition of anonymity because no final decisions have been made, the Washington Post reported. In particular, EPA officials are considering strengthening requirements for new large gas plants that operate for more than 40% of the time, rather than those that operate 50% of the time as originally envisaged. According to EPA modeling, the change could prevent up to 10.6 mln tonnes of carbon emissions per year — equivalent to taking 2.5 mln cars off the nation’s roads for a year.
Electricity emissions – As electricity load growth in the US is likely to accelerate as a result of oncoming data centres as well as the electrification of transportation, space heating, and industry, power sector emissions may rise in the short term to meet reliability and resiliency needs, a new report by nonprofit EFI Foundation found. This is a result of new gas-fired generation capacity coming online to provide power. Although new policy proposals look to limit power sector emissions, the report found that policy harmonisation must take place to meet increasing load demands, expedite grid modernisation, and better transition to net zero emissions.
Bank banning – West Virginia has banned four more banks that it said has “engaged in boycotts” of coal and other fossil fuels from doing business with state agencies, reported S&P Global. Specifically, CitiGroup Inc., TD Bank NA, HSBC Holdings, and Northern Trust Co. were barred, although none of the new blacklisted banks currently have state contracts. All except Northern Trust Co. were among the top 12 largest lenders to fossil fuel projects globally between 2016 and 2022, according to a report, but such investments alone may not keep a bank off the state’s non-grata list. Instead, bank restrictions are primarily based on a company’s public policy statements and forward-looking investment plans, a spokesperson for Treasurer Riley Moore said.
Green cars in Bluegrass – The GOP-controlled legislature in Kentucky, also known as the Bluegrass State, has backed away from its proposal to prohibit the state from purchasing electric vehicles, E&E reported Tuesday. Legislators did not include a blanket prohibition on EVs that the House had included in its version of the budge, which would have only allowed the state to purchase vehicles with internal combustion engines. Yet, the two-year state budget that recently passed would still impose some restrictions on electrifying the state fleet as Governor Andy Beshear’s (D) administration would not be allowed to limit purchasing bids to electric vehicles only.
CAN climate conflict – A new report criticises the climate considerations of the Ksi Lisims LNG project in northern British Columbia, noting that the 10-year-old environmental assessment is outdated and requires a new assessment to account for the acceleration of climate change, drought, and wildfires, reported the National Observer. The report was written by Swift Creek Consulting, as commissioned by the hereditary chiefs of Gitanyow, a First Nation in northern British Columbia who are locked in a land dispute with the Nisga’a, a neighbouring First Nation who is in support of the LNG project.
Looking into MNP – Minister of Energy, Mines and Low Carbon Innovation of British Columbia Josie Osborne on Monday ordered the investigation into accounting firm MNP’s role in the administration of two programmes funded through the carbon tax, Penticton Western News reported. Osbored called for the investigation after receiving information from an undisclosed source about the accounting firm and its role in administering the Commercial Vehicle Innovation Challenge and the Advanced Research and Commercialization grants. MNP will hence not administer those grants for the duration of the investigation. An interim report from the Auditor-General is due within 90 days, and the final report must be made available to the public by Sep. 1.
VOLUNTARY
Para plans – Governor Helder Barbahlo of Para told Fohla de Sao Paolo that the Brazilian state is expected to announce the completion of its first carbon credit issuance in June. According to Barbahlo, this will entail 1 million credits, but no monetary amount or partner were revealed. In Apr. 2023, the governor announced that Para – one of Brazil’s most forested states – had resumed plans to auction millions of hectares of public land to generate voluntary carbon credits. The state also recently launched a programme to enable access to the carbon market for smallholder farmers.
SCIENCE & TECH
Sink to source – A study led by the Future Ecosystems for Africa Programme at the University of the Witwatersrand has highlighted a concerning shift in Africa’s role in the global carbon cycle. Previously known as a net carbon sink, Africa is now emitting as much carbon as it absorbs, effectively becoming a net source of CO2e, estimated at 4.5 bln tonnes per year. This change is attributed to increased GHG emissions from activities such as fossil fuel burning, methane emissions from livestock, soil carbon losses, and nitrous oxide from agricultural land conversion. Despite Africa’s contribution to human-caused GHGs remaining at about 4%, the continent is responsible for nearly 40% of global emissions from land use and contributes 3-5% of the increasing GHGs in the atmosphere. With Africa’s population projected to exceed 2 bln by 2040, the rising demand for food and the exacerbating effects of climate change threaten to further increase carbon emissions. The study urged the introduction of climate-smart agricultural practices, carbon-neutral energy sources, and the protection and restoration of natural ecosystems to mitigate these emissions and possibly restore Africa’s role as a carbon sink. (Mail & Guardian)
Sad bulletin – March 2024 was warmer globally than any previous March in the data record, with an average ERA5 surface air temperature of 14.14 C, said the Copernicus Climate Change Service. This is the 10th month in a row that is the warmest on record for the respective month of the year. The month was 1.68C warmer than an estimate of the March average for 1850-1900, the designated pre-industrial reference period. The global-average temperature for the past 12 months (April 2023 – March 2024) is the highest on record. The average European temperature for March 2024 was 2.12C above the 1991-2020 average for March, making the month the second warmest March on record for the continent, only a marginal 0.02C cooler than March 2014.
AND FINALLY…
Getting wasted from waste – A UK-based company claims to be the world’s first firm to grow indoor cannabis in a carbon negative way, without buying carbon credits to offset emissions from the energy-intensive operations, CNBC reported. Glass Pharms’ greenhouse in southern England is detached from the energy and water grids. Instead, it runs on power and heat generated from an anaerobic digestion plant, fuelled by waste food that would otherwise go to landfill. The company claims its operations are carbon negative based on the avoided methane. The facility also harvests and treats water from rain on its roof. Growing cannabis typically uses a lot of energy to power light and water and control humidity. Producing 1 kg of indoor herbal cannabis typically uses around 6,000 kWh of energy and releases 1,374 kg of CO2 in a year, according to analysis by the European Monitoring Centre for Drugs and Drug Addiction and Europol.
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