US appeals court sides with Kentucky in EPA case over ‘good neighbour’ rules

Published 23:22 on December 9, 2024  /  Last updated at 23:22 on December 9, 2024  / /  Americas, US

A US Circuit Court delivered a two-pronged win for Kentucky against the US EPA after ruling that the agency’s denial of the state’s pollution control plan violated federal law.

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Gold Standard flags World Bank’s MIGA as its only recognised insurance policy for CORSIA credits

Published 23:03 on December 9, 2024  /  Last updated at 23:03 on December 9, 2024  / /  Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Nature-based, Paris Article 6, US, Voluntary

Gold Standard on Monday published new guidance on the approval process of its carbon credits for use under the first phase of the CORSIA global aviation offsetting scheme, stating that only projects insured via the World Bank’s Multilateral Investment Guarantee Agency (MIGA) will be deemed eligible.

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Liberia national carbon policy to push Article 6 markets, achieve UN targets

Published 18:39 on December 9, 2024  /  Last updated at 18:39 on December 9, 2024  / /  Africa, EMEA, International, Paris Article 6

Liberia plans to design a national policy on carbon markets as a precursor to instituting legal and governance frameworks for Article 6 carbon trading under the Paris Agreement, with the ultimate goal of achieving its forthcoming Nationally Determined Contribution (NDC) UN climate targets.

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UPDATE – EU should use CBAM revenues to help poorer countries decarbonise their steel too -think tank

Published 17:32 on December 9, 2024  /  Last updated at 15:51 on December 10, 2024  / /  Carbon Taxes, CBAM, EMEA, EU ETS, International

The EU can paint its Carbon Border Adjustment Mechanism (CBAM) in a good light by redistributing revenues to help the least developed countries decarbonise their own steel industries, according to research published on Monday.

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VCM Report: CORSIA carbon futures bounce after ICAO formally approves new standard bodies

Published 17:16 on December 9, 2024  /  Last updated at 17:16 on December 9, 2024  / /  Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Nature-based, Voluntary

Eligible futures for CORSIA Phase 1 bounced higher on Monday after a late Friday announcement from UN agency ICAO confirmed four new standard bodies have been formally granted eligibility to supply credits to the international aviation offsetting scheme.

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Euro Markets: EUAs drop by most in six months as options hedging amplifies gas-driven weakness

Published 17:13 on December 9, 2024  /  Last updated at 17:18 on December 9, 2024  / /  EMEA, EU ETS, UK ETS

European carbon prices dropped by their biggest margin in six months as traders positioned themselves ahead of the upcoming expiry of the December options contract, amplifying the effect of weaker gas prices, while UK carbon allowances fell to their lowest in seven months amid low gas-fired generation and continued regulatory uncertainty.

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Slovenia pledges €403 mln to rescue coal assets amid phaseout push -media

Published 16:06 on December 9, 2024  /  Last updated at 16:06 on December 9, 2024  / /  EMEA, EU ETS

The Slovenian government has committed €403 million to prevent the bankruptcy of the Sostanj coal power plant and the Velenje mine, taking control of both from state-owned utility Holding Slovenske Elektrarne (HSE) as part of its plan to phase out the fuel source by 2033.

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ANALYSIS: Despite November uptick, EU fossil power emissions on course for yet another heavy annual drop

Published 13:43 on December 9, 2024  /  Last updated at 13:43 on December 9, 2024  / /  EMEA, EU ETS

Annual EU carbon emissions from electricity generation covered by the bloc’s ETS are set to slump heavily once again in 2024 despite a strong rise in gas-fired output last month, analysts have said, though next year could see a much tighter market and a sustained price recovery.

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Saudi Arabia offers Kenya $8 per carbon credit in COP16 VCM deal -media

Published 13:18 on December 9, 2024  /  Last updated at 13:18 on December 9, 2024  / /  Africa, Climate Talks, EMEA, International, Middle East, Voluntary

Saudi officials and private sector players are open to buying carbon credits from Kenya in a voluntary market (VCM) deal at $8 per tonne, according to statements made on the sidelines of the UN Convention to Combat Desertification (UNCCD) COP16 conference in Riyadh last week.

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Australia’s green iron opportunity could cut its entire emissions footprint -report

Published 13:14 on December 9, 2024  /  Last updated at 13:14 on December 9, 2024  / /  Asia Pacific, Australia

One of Australia’s biggest resource powerhouses could export billions of dollars worth of green iron by the beginning of the next decade and A$170 bln ($109 bln) by 2050 while saving emissions bigger than the entirety of Australia’s annual carbon output, a report said Monday.

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