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Comment: The EU’s carbon border tax is a blow to climate justice. Here’s how to fix it

November 14 - On October 1, the European Union’s carbon border adjustment mechanism (CBAM) took effect in a transitional phase. Importers will be required to report relevant data to the EU but will not be required to pay the charge until January 1, 2026.The CBAM is intended to apply to certain imports a carbon price equivalent to the internal EU regulatory price charged for carbon, through a border adjustment tax. The CBAM will initially apply to imports of carbon-intensive goods – such as cement, iron and steel, aluminium, fertilisers, electricity...
Investing

Analysis: why biomass removals credits like biochar are luring investors

Rocky Mountain Institute says BiCRS has potential to remove 5.5 gigtons of CO2 globally per yearBiochar accounts for over 90% of carbon credits; IPCC says it has 'signifiant mitigation' potentialCharm Industrial injecting bio-oil into abandoned oil wells, removing over 6,000 metric tons of CO2Puro.earth piloting woody biomass burials methodology; Zurich pre-paying for CO2 removal certificatesNovember 14 - Storing carbon in living biomass has long been touted as a solution to climate change, but as successive scandals and concerns about destruction by wildfires has dampened the market for tree-planting credits, many...
Investing

Comment: Why investing in climate action and reporting are priorities for sustainable business

Research canvassed opinion from 570 senior sustainability professionals in second quarter 2023Companies with higher GHG emissions, public organizations and larger firms likely to spend more on sustainabilityResearch identified little divergence between organizations operating in Europe and North AmericaAlmost half of respondents said energy and decarbonization was their top priorityNovember 6 - With sustainability increasingly climbing up corporate agendas, decision-makers are navigating two primary disruptions: the pressure to decarbonize their operations; and the regulatory need to report, according to Reuters Impact Global Sustainability Survey 2023.The introduction of more complex reporting requirements,...