In Parc Adfer, North Wales, incinerator owner Enfinium is testing a new technology to capture some of the 218,967 tonnes of carbon dioxide that it spews out of its chimneys every year.The company — which generates power from waste — is aiming to clean up its output. But it also hopes eventually to be paid by other factories and power plants for reducing the amount of CO₂ they put into the atmosphere. That could become a reality under a proposed shake-up of the UK’s CO₂ emissions trading scheme, which would see allowances for carbon removals trade alongside regular allowances for emissions.The…
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New York CNN — The US is at a low risk of an imminent debt crisis — but high risk in the long term, billionaire investor Ray Dalio writes in a new book. The US government debt situation is “nearing the point of no return” and approaching a “death spiral” that could threaten the stability of the world’s largest economy, he writes in the book, “How Countries Go Broke: The Big Cycle,” published Tuesday. Some economists and investors have been sounding the alarm about the deficit for years. But this year, Wall Street has begun to heed caution as President…
Carbon credit retirements stay strong despite market slump. (Photo: iStock) The non-profit Ecosystem Marketplace (EM) released its latest research on May 29, revealing that the voluntary carbon market (VCM) has reached its lowest transaction volume in six years. Total market value dropped by 29% year-on-year, while average credit prices fell 5.5%. Still, retirements of carbon credits remained strong, suggesting continued demand despite mounting market pressure.Carbon credit volume drops 25% in 2024 According to the report, the total carbon credit transaction volume declined by 25% in 2024 compared to the previous year, with market value dropping to USD 535 million. However,…
By Manuela Andreoni and Ricardo BritoSAO PAULO -Brazilian prosecutors are seeking to annul a $180 million carbon offset scheme to support the conservation of the Amazon rainforest that the state of Para signed last year with a coalition of major corporations and wealthy governments, according to a complaint filed on Tuesday.The lawsuit is a powerful blow to the government of Para, the host of the next global climate summit, known as COP30, as well as the carbon credit industry as a whole, which had been trying to reposition itself after years of facing accusations of abuse and fraud.The state of…
By Manuela Andreoni and Ricardo BritoSAO PAULO -Brazilian prosecutors are seeking to annul a $180 million carbon offset scheme to support the conservation of the Amazon rainforest that the state of Para signed last year with a coalition of major corporations and wealthy governments, according to a complaint filed on Tuesday.The lawsuit is a powerful blow to the government of Para, the host of the next global climate summit, known as COP30, as well as the carbon credit industry as a whole, which had been trying to reposition itself after years of facing accusations of abuse and fraud.The state of…
Brazilian prosecutors are seeking to annul a $180 million carbon offset scheme to support the conservation of the Amazon rainforest that the state of Para signed last year with a coalition of major corporations and wealthy governments, according to a complaint filed on Tuesday. Source link
Brazilian prosecutors are seeking to annul a $180 million carbon offset scheme to support the conservation of the Amazon rainforest that the state of Para signed last year with a coalition of major corporations and wealthy governments, according to a complaint filed on Tuesday.The lawsuit is a powerful blow to the government of Para, the host of the next global climate summit, known as COP30, as well as the carbon credit industry as a whole, which had been trying to reposition itself after years of facing accusations of abuse and fraud.The state of Para holds one of the most vulnerable…
Spain has launched an ambitious €700 million (around $796 million) program to increase its energy storage capacity. This plan will add 2.5 to 3.5 gigawatts (GW) of storage. It includes pumped hydro, thermal energy storage, and battery systems. The goal is to improve how Spain uses renewable energy and to make its electricity grid more reliable and flexible. This article explains what the program involves, how energy storage benefits the grid and environment, the market opportunities it creates, and who will benefit from this major investment. Inside Spain’s €700M Storage Surge The European Commission approved a new support scheme. It…
Spain has launched an ambitious €700 million (around $796 million) program to increase its energy storage capacity. This plan will add 2.5 to 3.5 gigawatts (GW) of storage. It includes pumped hydro, thermal energy storage, and battery systems. The goal is to improve how Spain uses renewable energy and to make its electricity grid more reliable and flexible. This article explains what the program involves, how energy storage benefits the grid and environment, the market opportunities it creates, and who will benefit from this major investment. Inside Spain’s €700M Storage Surge The European Commission approved a new support scheme. It…