CP Daily: Thursday December 5, 2024

Published 04:28 on December 6, 2024  /  Last updated at 04:42 on December 6, 2024  /  Newsletters

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

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Poor health of former CQC executive Newcombe delays US fraud trial

Published 02:56 on December 6, 2024  /  Last updated at 02:56 on December 6, 2024  / and /  Americas, Asia Pacific, Bavardage, EMEA, Other APAC, US, Voluntary

A US District Court judge on Thursday delayed the trial of former C-Quest Capital executives Ken Newcombe and Tridip Goswami, who both face federal fraud charges, with the ex-CEO to be placed in a protective “bubble” as he undergoes drastic cancer treatment.

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Rio Tinto calls for global carbon pricing to encourage investments in hard-to-abate sectors

Published 02:28 on December 6, 2024  /  Last updated at 02:28 on December 6, 2024  / /  Americas, Asia Pacific, Australia, Canada

The world will need to embrace fundamental demand drivers, such as more entrenched carbon pricing, in order to drive decarbonisation of hard-to-abate mineral processing work and encourage buyers’ willingness to pay a green premium, global miner Rio Tinto told shareholders Thursday.

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WCI Markets: CCAs sell-off ahead of option expiry, Q4 auction shapes WCA direction

Published 00:36 on December 6, 2024  /  Last updated at 00:36 on December 6, 2024  / and /  Americas, Canada, US

California Carbon Allowance (CCA) future prices dropped over the past week as market participants positioned themselves ahead of option expiry, while Washington Carbon Allowances (WCAs) continued their decline heading into the final carbon permit auction of the year.

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Alberta pitches province open for AI data centre investment

Published 00:23 on December 6, 2024  /  Last updated at 00:23 on December 6, 2024  / /  Americas, Canada

Alberta released its strategy Wednesday, which aims to attract AI data centre investment, availing of the Canadian province’s natural resource abundance, power-generating capabilities, cool climate, and business-friendly regulatory environment.

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Canadian company eyes “lucrative” voluntary carbon market with innovative graphite decarbonisation process

Published 00:13 on December 6, 2024  /  Last updated at 00:13 on December 6, 2024  /  Americas, Canada, Voluntary

A Canadian climate tech firm is looking to tap the “lucrative” voluntary carbon market to help fund a breakthrough in almost completely decarbonising the production of graphite, which is used to make batteries.

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Watchdog chides EPA on lack of oversight on clean school bus funding

Published 23:09 on December 5, 2024  /  Last updated at 03:21 on December 6, 2024  / and /  Americas, US

The US EPA failed to monitor the deployment of $836 million that was spent on helping schools across the country replace existing school buses with zero-emission counterparts, according to a Wednesday report.

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After Article 6 agreement, still no clarity on when trades will start flowing -panel

Published 22:42 on December 5, 2024  /  Last updated at 22:42 on December 5, 2024  / /  Climate Talks, International, Paris Article 6

With Article 6 rules now in the books following consensus at COP29 in Baku, carbon market watchers said during a Thursday panel that there was still no clarity on when the international market would begin recording its first trades.

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Euro Markets: EUAs drift along with TTF gas as traders trim length ahead of weekend

Published 17:11 on December 5, 2024  /  Last updated at 17:23 on December 5, 2024  / /  EMEA, EU ETS, UK ETS

European carbon prices ended slightly lower on Thursday, following the evolution in front-month natural gas as both markets saw length being trimmed amid what has been a weak few days.

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UK waters down pledge to decarbonise power grid by 2030

Published 17:02 on December 5, 2024  /  Last updated at 03:26 on December 6, 2024  / /  EMEA, UK ETS

The UK government has watered down plans to decarbonise the electricity grid by 2030, setting a new target of achieving at least 95% of clean power by 2030.

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