Brazil near to 90% renewable electricity production, leads G20 pack -analysts

Published 15:00 on July 11, 2024  /  Last updated at 15:04 on July 4, 2024  / Paddy Gourlay /  Americas, Asia Pacific, EMEA, South & Central

Brazil will host the G20 summit this year after producing close to 90% of its electricity from renewables in 2023, adding pressure on the group of leading economies to step up their decarbonisation efforts after seven countries let power sector emissions rise last year, according to analysts.

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SBTi technical group called for external review following controversial carbon offset announcement

Published 13:30 on July 5, 2024  /  Last updated at 13:30 on July 5, 2024  / Paddy Gourlay /  Americas, Asia Pacific, EMEA, International, Nature-based, Voluntary

Pressure had mounted on Luiz Amaral, the former chief executive of the Science Based Targets initiative (SBTi), from the organisation’s own technical group before he decided to step down from his role for personal reasons this week, an internal letter seen by Bloomberg has revealed.

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Standard announces new voluntary carbon biochar methodology

Published 17:16 on July 3, 2024  /  Last updated at 17:16 on July 3, 2024  / Paddy Gourlay /  Americas, Asia Pacific, EMEA, International, Voluntary

A voluntary carbon standard has released its new methodology for crediting durable removals from biochar production and storage, which will now face a public consultation.

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UPDATE – Voluntary carbon integrity body slammed for missing additionality failures in more than 400k landfill gas credits

Published 16:53 on July 3, 2024  /  Last updated at 19:19 on July 3, 2024  / Paddy Gourlay /  Americas, Asia Pacific, EMEA, Voluntary

Half of the landfill gas credits issued by the Climate Action Reserve (CAR) registry likely fail additionality tests, despite the ICVCM approving the related methodology for its Core Carbon Principle (CCP) integrity stamp, according to analysis from a non-profit.

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CLARIFICATION – Verra’s new REDD methodology could leave projects issuing no voluntary carbon credits, warns assessement body

Published 18:44 on July 2, 2024  /  Last updated at 09:16 on July 3, 2024  / Paddy Gourlay /  Africa, Americas, Asia Pacific, EMEA, Nature-based, South & Central, Voluntary

Verra’s new consolidated methodology for avoided deforestation could lead to many REDD carbon projects being cancelled because they face the risk of being unable to issue voluntary credits, finds an assessment body.

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European agtech firm secures €10 million in Series A2 funding round

Published 12:38 on July 2, 2024  /  Last updated at 12:38 on July 2, 2024  / Paddy Gourlay /  Africa, EMEA, International, Nature-based, Voluntary

A European agtech firm has secured €10 million in a second round of funding to boost its network of soil carbon removals projects, and plans to raise another €2-4 mln this year.

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VCM Report: Fraud bombshell livens dull summer for voluntary carbon market

Published 17:42 on July 1, 2024  /  Last updated at 17:42 on July 1, 2024  / Paddy Gourlay /  Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Nature-based, Voluntary

Allegations of fraud against one of the heavyweights in the voluntary carbon market shattered a quiet week, with activity already suffering due to the start of the summer holiday season.

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Denmark offers subsidies to kick-start CCS development

Published 16:16 on June 28, 2024  /  Last updated at 16:16 on June 28, 2024  / Paddy Gourlay /  EMEA, EU ETS

Denmark has kick-started the bidding process for winning a government subsidy to build carbon capture and storage (CCS) facilities in the country.

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Surge in CCS capacity in next 10 years will still fall short of demand, finds report

Published 13:09 on June 28, 2024  /  Last updated at 13:09 on June 28, 2024  / Paddy Gourlay /  Americas, Asia Pacific, EMEA, International

Global carbon capture capacity will surge to 440 millions tonnes per annum (Mtpa) while storage capacity will reach 664 Mtpa by 2034, but will still fail to meet demand, global energy data and analytics provider Wood Mackenzie has predicted.

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UK’s Labour party to rely largely on private finance to hit green targets -media

Published 14:28 on June 27, 2024  /  Last updated at 15:20 on June 27, 2024  / Paddy Gourlay /  EMEA, International

The UK will need “hundreds of billions” of pounds of largely private sector investment to reach its net zero target by 2050, a senior politician from the Labour party has said, downplaying the role of government funding in the energy transition, a week before the political party is likely to be elected into government.

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