(AP) — Power plants and industrial facilities that emit planet-warming carbon dioxide are hopeful that Congress will keep tax credits for capturing the gas and storing it deep underground. The process, called carbon capture and sequestration, is seen by many as a way to reduce pollution during a transition to renewable energy. Equipment can be installed to separate carbon dioxide from other gases before it leaves the smokestack. The carbon then is concentrated and shipped — usually through a pipeline — to a location where it’s injected deep underground for long-term storage. It also can be captured directly from the…
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What’s the context?A new category of carbon credit could help poorer countries ditch coal for clean power.LONDON – At the heart of global efforts to tackle the climate crisis lies a vexing question: how to finance the multimillion-dollar shift from fossil fuels to clean energy. For poorer countries reliant on coal power to fuel their growth, shuttering high-output power plants often tied into long electricity contracts is difficult and expensive. Transition credits may just be the solution. A new category of carbon credits, they allow governments or companies to indirectly slash their carbon emissions by paying coal power plants to…
UNFCCC Secretariat officials engage in consultations at the podium while as plenary is suspended. (Photo: IISD/ENB – Kiara Worth) The Bonn Climate Conference (SB62), regarded as a key preparatory meeting ahead of the United Nations Climate Change Conference (COP30) in November, concluded on June 26. Nearly 200 countries agreed to increase the UN climate budget by 10% over the next two years. However, on Article 6.4 of the Paris Agreement, the overseeing body decided that carbon credits under this mechanism cannot be used for offsetting emissions, potentially discouraging corporate participation in carbon credit development.UN climate budget to increase by 10%, U.S.…
(June 25): Wall Street bulls drove stocks higher amid easing Middle East tensions and balanced comments from Federal Reserve (Fed) chair Jerome Powell on prospects for rate cuts. Treasury yields and the dollar fell. Oil tumbled. The S&P 500 rose 1.1% and the Nasdaq 100 climbed 1.5%, notching its first record since February. West Texas Intermediate crude plunged nearly 15% over two sessions to settle around US$64 a barrel. In late hours, FedEx Corp forecast a worse-than-expected profit. Money markets fully priced in two Fed cuts by the end of 2025, with a first move in September far more likely than next…
(Bloomberg) — US Treasuries were headed for a third week of advances, rallying on Thursday after economic data releases reinforced bets that the Federal Reserve will cut interest rates at least twice this year. Most Read from Bloomberg The move pushed down yields across maturities, with most tenors falling to the lowest level in more than a month. A Bloomberg Treasuries index has returned about 0.6% for the week. “We’re going to continue to rock and roll for a few reasons, in terms of lower yields,” said Andrew Brenner, head of international fixed income at NatAlliance Securities. “There’s a real…
BLOUNTSTOWN, Fla. — As the 2025 hurricane season rolls into its first month, most Floridians are busy boarding up windows and stocking up on supplies. But a quieter kind of preparation is happening deep in Florida’s forests, where trees, not tarps, are being counted and protected as part of a growing movement to use nature itself as a storm defense.One of the major players is Aurora Sustainable Lands, a private land management company that oversees 1.7 million acres of forest across the U.S., including a 40,000-acre stretch along Florida’s Apalachicola River Basin. Watch full story from Forrest Saunders How Trees…
India’s insurance regulator has found significant lapses in health claim practices at eight insurance companies following recent inspections, including issues related to claim rejections, unnecessary deductions, and delayed settlements, two sources with direct knowledge of the matter told CNBC-TV18.The Insurance Regulatory and Development Authority of India (IRDAI) inspected both private and public sector insurers as part of its compliance review of the Health Master Circular — a comprehensive directive issued to streamline health insurance processes and enhance policyholder protection.The insurers inspected include Niva Bupa Health Insurance, Star Health and Allied Insurance, Care Health Insurance, ManipalCigna Health Insurance, New India Assurance,…
As emissions continue to rise in Duncan, the city plans to purchase more carbon credits to offset the increase and will carry a price tag of $6,500. Council approved the purchase of 217 offsets during their Jun. 23 meeting, and director of finance Bernice Crossman says the purchase is to help the city remain carbon neutral. According to a city report, last year saw the highest amount of carbon being emitted since 2020, which was due to significant projects being done and fuel used, and Crossman says this is why offsets are needed. Photo credit: City of Duncan’s 2024…
By Stephen Culp NEW YORK (Reuters) -Wall Street resumed its advance on Thursday, pushing the S&P 500 and the Nasdaq closer to record closing highs as the Israel-Iran cease-fire continued to hold and a raft of economic indicators appeared to support the case for the U.S. Federal Reserve lowering borrowing costs this year. A broad rally pushed all three major U.S. stock indexes higher, placing them on track for weekly gains. The S&P 500 and the Nasdaq are now within striking distance of all-time closing highs, while the Nasdaq 100, a subset of the Nasdaq Composite, notched its second consecutive…
The average rate on a 30-year U.S. mortgage fell to its lowest level since early May, an encouraging trend for prospective homebuyers at a time when the U.S. housing market remains largely held back by elevated borrowing costs and rising prices. The long-term rate fell to 6.77% from 6.81% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.86%. Shop Top Mortgage Rates Powered by Money.com – Yahoo may earn commission from the links above. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell. The average rate dropped to…