Carbon removals criteria updated to include environmental harms, benefits

Published 16:28 on July 11, 2024  /  Last updated at 16:28 on July 11, 2024  / Sara Stefanini /  Americas, Asia Pacific, EMEA, Nature-based, Voluntary

While carbon removals may be good for the climate, developers and buyers also need to minimise the project’s impact on wider environmental health, and promote benefits, according to updated criteria for high-quality projects, released on Thursday.

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Brazilian cosmetics company issues R$1.3 bln Amazon sustainability-linked bond

Published 16:08 on July 11, 2024  /  Last updated at 16:08 on July 11, 2024  / Sergio Colombo /  Americas, Biodiversity, South & Central

A Brazilian cosmetics company has raised R$1.3 billion ($245 million) with a ‘first-of-its-kind’ sustainability-linked bond (SLB) tied to targets on biodiversity conservation and sustainable sourcing in the Amazon region.

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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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City, regional administrations pivotal in scaling CDR solutions -report

Published 12:02 on July 11, 2024  /  Last updated at 12:02 on July 11, 2024  / Nikita Pandey /  Americas, Asia Pacific, EMEA, International, Nature-based, Voluntary

Beyond federal governments and supranational organisations, regional and city administrations can play a huge role in scaling up carbon dioxide removals (CDR) solutions, according to a report published Thursday.

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US asset manager kickstarts biodiversity-focused global fund

Published 11:28 on July 11, 2024  /  Last updated at 11:28 on July 11, 2024  / Giada Ferraglioni /  Americas, Biodiversity, International, US

A US-based asset manager has announced the launch of a global fund to channel investments towards sustainable food, planning to reach 80% of companies in the portfolio committed to improving biodiversity.

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BP raises fossil fuel demand forecast as energy transition slows

Published 10:57 on July 11, 2024  /  Last updated at 10:57 on July 11, 2024  / Roy Manuell /  Americas, Asia Pacific, EMEA, International

BP has raised its oil and gas demand forecasts in a closely followed annual outlook, though still expects global CO2 emissions to peak over the next few years, with 7 billion tonnes of carbon capture needed by 2050 for the world to hit net zero.

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Stakeholders press California regulator ARB on 2025 budget cut options for cap-and-trade

Published 03:25 on July 11, 2024  /  Last updated at 22:32 on July 11, 2024  / Joan Pinto /  Americas, Canada, US

Stakeholders questioned the possibility of earlier cuts to cap-and-trade allowance budgets prior to finalising rules, as ARB staff discussed the “complicated” status of 2025 allocations with implementation of ETS changes delayed to 2026, during the agency’s pre-rulemaking workshop on Wednesday.

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Fossil fuel producer partners with Canada Growth Fund to launch CCS projects in country’s oil sands

Published 03:12 on July 11, 2024  /  Last updated at 03:14 on July 11, 2024  /  Americas, Canada, Carbon Taxes, Voluntary

An oil and gas producer has entered into a strategic partnership valued at up to C$2 billion ($1.47 bln) with the Canada Growth Fund (CGF) to develop carbon capture and sequestration (CCS) infrastructure across its steam-assisted gravity drainage (SAGD) oil sands facilities in Saskatchewan and Alberta.

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ARB’s California offset issuance almost catches up with 2023 levels YTD

Published 00:59 on July 11, 2024  /  Last updated at 00:59 on July 11, 2024  / Graham Gibson /  Americas, Canada, US

California regulator the ARB sped up its issuance of compliance-eligible offsets, narrowing the year-on-year gap of issuance thus far in 2024, agency data released Wednesday showed.

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Puerto Rican coffee farmers receive payments from USDA, aim for CO2 credits

Published 00:19 on July 11, 2024  /  Last updated at 00:19 on July 11, 2024  / Alejandra Padin-Dujon /  Americas, Nature-based, US, Voluntary

Coffee farmers in Puerto Rico have received inaugural incentive payments from a mitigation programme funded by the US Department of Agriculture (USDA), with the eventual aim of producing certified carbon credits for the voluntary carbon market (VCM).

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