First Nations plan legal challenge against Canada’s carbon tax

Published 14:15 on December 5, 2024  /  Last updated at 14:18 on December 5, 2024  / /  Americas, Canada, Carbon Taxes

A coalition of First Nations has announced its intention to file legal action against Canada’s carbon tax, claiming the federal government breached their duty to consult the groups when instituting the carbon pricing scheme.

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Development banks pledge $12 bln for land degradation

Published 13:32 on December 5, 2024  /  Last updated at 16:19 on December 5, 2024  / /  Africa, Biodiversity, EMEA, Middle East

Financiers, mostly development banks, at the UN desertification conference COP16 in Riyadh, Saudi Arabia this week have committed $12 billion towards drought resilience, land restoration, and combatting land degradation.

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ANALYSIS: Article 6 breakthrough raises integrity concerns for some, but ‘proof in pudding’, experts say

Published 13:04 on December 5, 2024  /  Last updated at 13:04 on December 5, 2024  / and /  Americas, Asia Pacific, Climate Talks, EMEA, International, Nature-based, Paris Article 6, Voluntary

The historic consensus on Article 6, achieved in November at COP29, may have been broadly welcomed, but some remain cautious that gaps in final decision texts could lead to a lack of integrity in the newly developed, UN-approved international carbon markets, if implementation over the coming years is not sufficiently robust.

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BNP Paribas launches €750-mln low-carbon transition equity fund

Published 12:55 on December 5, 2024  /  Last updated at 12:55 on December 5, 2024  / /  Americas, Asia Pacific, EMEA, International, Voluntary

French bank BNP Paribas has launched a low-carbon transition equity fund, targeting €750 million from institutional investors such as insurers, pensions funds, and corporates.

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China seeking comments on steel sector emissions accounting rules

Published 12:24 on December 5, 2024  /  Last updated at 12:29 on December 5, 2024  / /  Asia Pacific, China

China’s environment ministry is seeking comments on emissions accounting rules for domestic steelmakers, as the sector will soon be included in the national emissions trading scheme.

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French nature-based project verifier lands €5 mln to boost carbon market certification capacity

Published 12:16 on December 5, 2024  /  Last updated at 12:16 on December 5, 2024  / /  EMEA, Nature-based, Voluntary

A Paris-headquartered certifier for nature-based carbon projects has raised €5 million in fresh funding to expand its operations and develop new methodologies, the organisation announced on Thursday.

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Canadian tech company partners with Saudi firms to produce low-carbon concrete

Published 11:08 on December 5, 2024  /  Last updated at 11:08 on December 5, 2024  / /  EMEA, Middle East, Voluntary

A Canadian tech company has collaborated with a concrete producer and a gas distributor in Saudi Arabia to produce low-carbon materials by incorporating captured CO2, the companies announced this week.

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INTERVIEW: EU 90% climate target should be “emission reductions only”, says Swedish MEP

Published 10:49 on December 5, 2024  /  Last updated at 10:49 on December 5, 2024  / /  EMEA, EU ETS

The EU’s 2040 climate target proposal, due early next year, should make a clear distinction between emission reductions and carbon removals, said Swedish lawmaker Emma Wiesner, denouncing the bloc’s plans to put forward a net target as “a slap in the face” and “a huge betrayal” for the European Parliament.

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Chinese emissions exchange launches carbon pledge services for local ETS

Published 10:09 on December 5, 2024  /  Last updated at 10:09 on December 5, 2024  / /  Asia Pacific, China

An exchange that supports one of China’s pilot carbon markets has unveiled an online financing service targeting carbon pledges in a latest attempt to explore innovative financial instruments.

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AU Market: ACCU price claws back after week of volatility

Published 07:35 on December 5, 2024  /  Last updated at 07:35 on December 5, 2024  / /  Asia Pacific, Australia

Australian Carbon Credit Unit (ACCU) prices recouped some of their recent losses Thursday after a bout of severe volatility earlier in the week that had seen units trade as low as A$37 ($23.82).

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