Domestic carbon removal markets risk missing out on developing world’s potential -experts
The more government policies focus on developing their domestic carbon removals rather than a global market for credits, the less opportunity there will be to tap into the biggest potential in the world – often in developing countries that have less need to cut emissions, according to experts.
Read MorePolish state aid plan approved under EU rules for supporting net zero sectors
The European Commission has approved a €1.2 billion Polish state aid scheme, under the bloc’s recently relaxed subsidy rules, to support investments in sectors producing the equipment needed to transition to net zero emissions, it announced on Tuesday.
Read MoreAzerbaijan to create fossil fuel-financed climate fund at COP29
Azerbaijan is putting climate finance at the centre of its agenda for the COP29 summit in Baku, with a series of initiatives and outcomes aimed at drumming up more public and private money including from fossil fuel-producing countries and companies, it announced on Tuesday.
Read MoreUK places climate action at centre of foreign affairs agenda with clean power alliance
British Foreign Secretary David Lammy will on Tuesday kickstart a global clean power coalition aimed at accelerating the clean energy transition, helping developing countries leapfrog fossil fuels, and turning the UK into a clean energy superpower.
Read MoreGerman biogas company raises funding to scale up carbon-negative plug-and-play plants
A German biogas energy startup has raised $62 million in Series A funding following an oversubscribed round, enabling it to begin producing power plants and meet pre-orders from farmers and industrials, it announced on Friday.
Read MoreBRIEFING: Carbon removals facing a price roller coaster as demand outstrips supply
The high price of carbon removal credits is set to spike before it declines, as new government policies help to drive more buyers to the nascent market, according to speakers at the Carbon Unbound Europe conference on Wednesday.
Read MoreBrussels aims to rubber-stamp carbon removals framework by year’s end
The European Commission expects to formalise its Carbon Removals and Carbon Farming (CRCF) regulation by the end of this year, giving it the legal basis on which to set certification methodologies for the first batch of removal techniques next year, a Brussels official confirmed on Wednesday.
Read MoreDrax urges BECCS support as critical to meeting UK clean power goal by 2030
Drax is looking to the UK government to begin discussions soon on a contract to support the company’s incoming bioenergy with carbon capture and storage (BECCS) project, to ensure that the plant can contribute to the country’s goal for clean power by 2030, a Drax official said on Wednesday.
Read MoreBig tech company snags lowest price yet for DAC removal credits
A big tech giant has struck a deal to purchase direct air capture (DAC) removal credits for the cheapest price on record – $100 per tonne – starting in the early 2030s, it announced on Tuesday.
Read MoreUK offshore oil and gas emissions slip, although intensity per barrel set to rise
The UK’s offshore oil and gas industry cut its emissions by 4% in 2023 and by just over a quarter in the past five years, although the emissions intensity of every barrel is increasing as production declines, the country’s regulator said on Tuesday.
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