New York fiscal watchdog says NYCI design falls short, potential economic impacts $12 bln/yr by 2030
A state civil non-profit found New York’s proposed cap-and-invest programme, or ‘NYCI’, lacked sufficient analysis of potential fiscal and economic impacts of up to $12 billion per year by 2030, recommending a more robust, publicly available assessment and recalibration of the emissions reduction goal.
Read MoreQuebec’s free carbon allocation declines slightly in 2023
Quebec distributed the remainder of its 2023 free carbon market permits, bringing the annual total slightly down from 2022 volumes as the number of recipients remained unchanged, data released by the province’s environment ministry showed.
Read MoreCOP16: ANALYSIS – Who wants to talk about debt?
A spat on sovereign debt reform threatens to overheat talks at the ongoing UN biodiversity summit in Cali, as the UK and China have so far strongly opposed calls to address the issue in the final agreement, with potentially grave consequences on developing countries’ ability to effectively tackle the biodiversity crisis, according to experts.
Read MoreCOP16: Brazil launches revised national plan to restore 12 mln hectares by 2030
The Brazilian government launched Monday a revised national plan for the recovery of native vegetation that reaffirms the country’s commitment to restore 12 million hectares by 2030.
Read MoreCOP16: EIB, WWF to provide early-stage funding for nature-based solutions
The European Investment Bank (EIB) and the WWF on Tuesday announced they will collaborate to mobilise early-stage funding for projects to help adapt to climate change and stave off the biodiversity crisis.
Read MoreEuro Markets: EUAs climb as much as 2% to test significant technical resistance before late slide
European carbon prices resumed the recovery that began late last week, erasing Monday’s loss and surpassing Thursday and Friday’s intraday peaks to set a new eight-week high, as buyers returned to the market and pushed prices close to technical resistance levels, before a late dip amid renewed selling.
Read MoreAsset manager launches carbon removal fund to help institutional investors tap in
A London-based asset manager is launching a carbon removal fund to give institutional investors access to solutions that can deliver investment returns and help them reach net zero emissions, it announced on Tuesday.
Read MoreCOP16: Electricity company announces Colombian biodiversity credit project
A Colombian energy transmission company has announced its support for a small voluntary biodiversity credit project in Colombia with the aim of helping open up a market.
Read MoreEuropean power prices to extend drop through 2030 as renewables capacity outpaces generation demand -analysts
European power prices continue to fall from their 2022 record highs and are poised to extend this weakness through the end of the decade, analysts predict.
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