Article 6.4, a section under the Paris Agreement which lays out the foundation for countries to trade carbon credits, has been one of the longest-standing disputes at the COP negotiations due to disagreements on the integrity of these rules, or how to make sure any promised emissions reductions are additional and can be easily verified. Last year’s COP28 summit in Dubai failed to deliver a consensus to operationalise the mechanism, despite high hopes of a positive outcome.Proponents of the global carbon market say the mechanism will advance sustainability goals, as well as funnel billions of dollars into emissions-cutting projects in developing countries. COP29 president Mukhtar Babayev hailed the decision that came…
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The California Air Resources Board approved changes to the Low Carbon Fuel Standard program, which is expected to raise gas prices, but CARB won’t say how much. SACRAMENTO, Calif. — Gas prices are going to go up in California, but nobody can say by how much. That’s after the California Air Resources Board (CARB) approved changes to the Low Carbon Fuel Standard (LCFS), as ABC10 reported Friday. That’s a program aimed at helping the state meet its climate goals and reduce pollution. “The LCFS is one of the state’s most important and influential climate programs,” Steven Cliff, CARB’s executive officer,…
President-elect Donald Trump’s return to the White House has sent ripples through global financial markets, with many investors looking to recalibrate their portfolios for a dramatically different policy landscape ahead. The Republican sweep of the presidency and, potentially, both houses of Congress has triggered what analysts call the return of “Trump trades” — but with key differences to 2016 that could reshape the investment outlook. The immediate market reaction has been positive for U.S. assets , with small-cap stocks and sectors like banking and technology seeing solid gains. The Russell 2000 small-cap U.S. stock market index is up over 8%…
PORT-AU-PRINCE (Reuters) -A Spirit Airlines (NYSE:) flight destined for the Haitian capital of Port-au-Prince was struck by gunfire on Monday, forcing it to be diverted to the neighboring Dominican Republic. Spirit said in a statement that the plane had been damaged and taken out of commission upon landing in the northern Dominican city of Santiago. A flight attendant was injured in the incident, Spirit said. The Miami Herald had reported that the attendant was grazed by a bullet. No passengers were injured, Spirit added. A video circulating on social media, which appears to have been taken by a Spirit employee…
ILLINOIS (WCIA) — Counties, nonprofits and more in Illinois will soon be able to apply for grant funding to improve tourism throughout the state. Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) announced that over $2 million in tourism funding will be available through two different grants. Illinois allows veterans to adopt pets with no fees The Tourism Attractions Grant Program has $1.7 million in funding, and the Tourism Private Sector Grant Program will give out $600,000. Those eligible for both of the tourism grants include counties, municipalities, not-for-profit organizations, local promotion groups and for-profit…
By Niket Nishant (Reuters) -Morgan Stanley’s private equity arm is selling its heating, ventilation and air conditioning (HVAC) business, Sila Services, about three years after it invested in the company to take advantage of the growing interest in the sector. Pennsylvania-based Sila will be sold to the private equity unit of Goldman Sachs Alternatives, Morgan Stanley (NYSE:) said on Monday, but did not disclose the financial terms of the deal. Reuters had reported in September that a transaction could value Sila, which provides residential HVAC, plumbing and electrical services, at about $1.5 billion, including debt. HVAC companies have emerged as…
Crypto market capitalization has reached a new all-time high of $3.12 trillion — and is now close to surpassing France’s gross domestic product (GDP). On Nov. 11, total crypto market capitalization soared 7% over 24 hours, due mainly to a sudden surge in Bitcoin, which rallied to $89,500. If the crypto market were a country, it would be the eighth largest in GDP terms behind the United States, China, Germany, Japan, India, the United Kingdom and France.Meanwhile, Bitcoin’s market cap alone is now over $1.77 trillion — larger than Spain’s GDP, according to the International Monetary Fund.The last time the total crypto…
In modern cars, dashboards are loaded with dials and a range of warning lights that can quickly activate, often leaving drivers puzzled. Most of these lights are not a cause for immediate concern, as they usually switch off once the engine is running. However, if a warning light illuminates while driving, it’s essential to understand what it signifies, as some lights may point to serious issues that need urgent attention. These lights are color-coded in red, orange/amber, and green, similar to a traffic light system. A red light signals “stop” and indicates a problem that requires immediate investigation. Orange or…
Jane Lu, founder and CEO of Showpo.Courtesy of Jane Lu.Growing up, Jane Lu dreamt of waking up every morning and putting on a power suit to go to work at a fancy corporate finance job in one of the tall city buildings.Today, the 38-year-old is the founder and CEO of online fashion retail company Showpo, which brings in over $100 million a year in revenue, according to documents reviewed by CNBC Make It.Along with running a nine-figure business, Lu is also currently a judge on “Shark Tank Australia” and has built a following of almost 400,000 users across her social…
By Hyunjoo Jin SEOUL (Reuters) -South Korea’s ruling party introduced legislation on Monday to give chipmakers subsidies and an exemption from a national cap on working hours, to tackle potential risks from measures threatened by incoming U.S. President Donald Trump. The semiconductor industry is critical for the trade-dependent economy, Asia’s fourth biggest, with chips making up 16% of total exports last year. Last week, South Korean President Yoon Suk Yeol warned of the risks stemming from Trump’s threat of steep tariffs on Chinese imports that could prompt Chinese rivals to slash export prices and undercut Korean chip firms overseas. The…