News

Australia has announced plans to build renewable energy projects, offshore wind farms and undersea transmission cables, as part of its efforts to cut carbon emissions by 43% by 2030.

Carbon Capture and Storage (CCS) facilities under development has grown 44% on year to 244 million tonnes per annum in the past 12 months, according to a new report from the Global CCS Institute.

A new not-for-profit initiative called the Distributed Renewable Energy Certificate (D-REC), backed by multiple stakeholders, is developing an internationally recognised market instrument acting as a guarantee of origin for distributed renewable energy.

Australia’s new left-leaning government is set to commit to reducing global methane emissions by 30% by 2030.

EU countries are considering revising REPowerEU, the European Commission’s plan to shift away from Russian fossil fuels, including scrapping a proposed 45% renewable energy target for 2030, according to a document seen by EURACTIV.

Using cheap carbon offsets to meet net zero targets could curb companies’ efforts to cut emissions and slow the delivery of climate goals, Britain’s climate change advisers said on Thursday.

The UK government has announced to introduce the ‘Cost-Plus Revenue Limit,’ a temporary cap on renewable energy companies’ revenue, to curb the impact of soaring wholesale power prices.

The London Stock Exchange has set listing rules for companies that finance carbon offset projects to grow the market and enhance transparency.

To reach net-zero emissions by 2050 and limit global warming to 1.5C temperature, investment in renewable energy sources needs to exceed finance flows to fossil fuels by a factor of four over the next decade, according to a report published by BloombergNE

Decarbonizing the iron and steel industry requires $1.4 trillion of investment, of which $250 billion is for carbon credits, according to Wood Mackenzie’s latest report, Pedal to the Metal: Iron and steel’s $1.4 trillion shot at decarbonization.