Euro Markets: EUAs climb to 11-week high on technical buying as gas hits one-year high
European carbon prices posted healthy gains on Thursday, initially outpacing strength in gas before front-month TTF rose to a one-year high as traders reacted to news headlines that added uncertainty to the supply outlook.
Read MoreCOP29: Brazil launches climate funding platform with $10.8 bln in capital
Brazil’s national development bank has formally launched a climate investment platform that it said already has up to $10.8 billion in capital that could be mobilised, in support of its newly updated Paris Agreement pledge.
Read MoreCOP29: BRIEFING – Transition credits could help retire young coal plants in Asia, but complexities and risks abound
Transition credits could be a viable way to finance the early phase-out of coal-fired power plants in Asia, but familiar risks around project permanence, and buyer appetite are seen as major barriers to scaling up the practice, a panel discussion heard at COP29.
Read MoreCOP29: Carbon pricing coverage to hit 34% of global emissions in next five years -report
A report has found that expansion of carbon trading systems will see emissions covered by pricing mechanisms rise to 34% over the next five years.
Read MoreCOP29: Multiple countries outline plans to raise billions in forest carbon finance
Fourteen countries, including the US, France, and the UK, issued a statement at COP29 in Baku on Thursday affirming their commitment to scale up finance for forests, based on ‘high-integrity’ carbon markets.
Read MoreCOP29: US-China dialogue “extremely positive” on non-CO2 emissions controls, says White House official
A White House official said Thursday that the US has had active and productive negotiations with Chinese delegates over reducing non-CO2 greenhouse gases (GHG), adding that Beijing has signalled interest in implementing regulatory controls over non-CO2 gases similar to those in the US.
Read More5% of planning applications subject to UK biodiversity net gain rules, research suggests
Some 5% of recent planning applications have complied with England’s biodiversity net gain (BNG) rules, in a positive sign the legislation is working, a lawyer has said.
Read MoreCOP29: Canadian oil and gas emissions cap not expected to survive legal challenge, Alberta stakeholders say
Alberta government and industry were sceptical of the viability and effectiveness of Canada’s emissions cap on its oil and gas sector, highlighting instead the success of provincial emissions reductions efforts on the sidelines of COP29.
Read MoreEmerging markets lag in low-carbon investment despite $2.3 trillion energy boost -report
Low- and middle-income economies invested $2.3 trillion in their energy systems last year, yet only 14% of that spending outside China went towards low-carbon solutions, a new report has found.
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