ANALYSIS: Climate finance alliance still has future despite exodus of insurance firms
The Glasgow Financial Alliance for Net Zero (GFANZ) coalition still has an important role to assume in meeting international climate targets, experts have said, despite an exodus of insurance firms from one of its sub-groups that has led some to question the effectiveness of such industry initiatives.
Read MoreFarmer payouts drop during 2nd year of US soil carbon offset programme
A major US-based agricultural carbon offset firm distributed around $6 mln to US farmers and ranchers in its second year, it announced Wednesday, around a third less than was awarded in the programme’s inaugural year.
Read MoreWCI Markets: CCAs tick up on weak volume, WCAs drop following auction results as trade explodes
California Carbon Allowance (CCA) prices inched higher this week on relatively low volume as post-auction selling ran into support from long-term buyers and options trading, while Washington Carbon Allowances (WCAs) continued to lose ground both before and after the scheme’s Q2 auction result publication.
Read MoreQuebec reveals timeline to enact potential WCI cap-and-trade amendments
The Quebec environment ministry on Thursday shed light on its plan to ratify possible adjustments to its WCI-linked cap-and-trade system, as it also revealed further details on the topics the province and California will discuss at a carbon market rulemaking webinar next week.
Read MorePanel highlights starkly different EU and US approaches on removals policy
The US and EU are approaching carbon dioxide removal (CDR) technology ramp up in starkly different ways, a panel heard on Thursday, reflecting on US efforts to disburse funding while the EU focuses on setting ground rules and definitions prior to initiating large-scale cash disbursals.
Read MoreUS tech giant pre-orders millions in nature-based removal offsets to meet 2030 net zero target
A California-based technology conglomerate has pre-ordered millions of nature-based removal credits from a fintech financier and carbon offset supplier in a partnership announced Wednesday.
Read MoreWorld’s largest companies show limited progress towards Paris Agreement’s 1.5C goal, research finds
Global large- and mega-cap firms have shown minimal progress towards meeting the Paris Agreement’s climate goal of limiting global warming to 1.5C by 2050, according to new research.
Read MoreVirginia regulatory board endorses Governor Youngkin’s RGGI repeal executive action
A Virginia regulatory board on Wednesday voted to rescind the state’s RGGI-linked cap-and-trade regulation after considering the legal implications of doing so during an unprecedented closed-door session of a public meeting, with the final repeal headed to Governor Glenn Youngkin’s (R) desk for review amid the spectre of probable lawsuits in the coming months.
Read MoreUPDATE – Washington Q2 carbon auction clears above Tier 1 reserve price, first advance sale settles far below
The second current vintage auction of Washington state’s WCI-modelled cap-and-trade programme sold all allowances above the scheme’s lower reserve tier trigger price, though the first advance sale settled well below that, according to results published Wednesday.
Read More‘Carbon-to-value’ SAF startup raises £18 mln from investors
A London-based ‘carbon-to-value’ startup that transforms CO2 and hydrogen into industrial and consumer products, including sustainable aviation fuel (SAF), has raised £18 million in Series A funding.
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