A group of international climate, policy, and industry leaders today announced the incorporation of the Carbon Management Society (CMS), a global not-for-profit organisation dedicated to advancing practical, science-based carbon management as a cornerstone of the world’s response to the climate crisis.

Carbon pricing mechanisms, including global carbon pricing (GCP) and emissions trading systems (ETS), are essential tools for incentivizing emissions reductions and combating climate change. Both approaches aim to internalize the social costs of carbon emissions and drive the transition to a low-carbon economy. However, they differ in their design, implementation, and potential impacts.

So how does Mr Miliband square this circle? It is hard to argue that Britain is not doing its bit on climate. It has been the fastest-decarbonising major economy. Its latest submission under the Paris Agreement is one of the few that puts the economy on-track for a net-zero carbon world.

Cop28 ended in achievement and relief, tinged with some disappointments. The final text twice mentions “hard-to-abate” sectors, usually considered to include vital but carbon-intensive heavy industries such as steel, cement and aluminium.

A limited amount of carbon capture, hydrogen and nuclear power are used in the “hard-to-abate” sectors, such as heavy industry, for long-duration reliable electricity supply, and to supply chemical fuels for long-distance shipping and aviation.

Adnoc has reported that it emitted 24 million tonnes from its upstream operations last year. It aims to reduce operational intensity – emissions per barrel of oil or cubic foot of gas – by 25 per cent by 2030, from what is already one of the lowest levels globally.

Iceland’s famous Blue Lagoon, where tourists boil lobster-red in the volcanic waters, is more than a sightseeing curiosity. The attraction, which is the world’s first geothermal power and district heating plant, is a pioneer of low-carbon energy.

The global steel industry accounts for 8–10 % of global CO2 emissions and requires deep decarbonisation for achieving the targets set in the Paris Agreement. However, no low-emission primary steel production technology has yet been commercially feasible or deployed.

Achieving net-zero climate targets requires some level of carbon dioxide removal. Current assessments focus on tonnes of CO2 removed, without specifying what form these removals will take. Here, we show that countries’ climate pledges require approximately 1 (0.9–1.1) billion ha of land for removals.

The most straightforward way to avoid climate change is to stop treating the atmosphere as a free waste dump for carbon dioxide.

Don’t swim too far from the shore in Iceland’s famous Blue Lagoon, or you will cook like a lobster. At 240°C, mineral-rich water drilled from deep underground runs the neighbouring geothermal power plant,

A recent paper ‘Nature-Based Credit Markets at a Crossroads’ published in Nature Sustainability (2024), provides a noteworthy perspective on scientific validity in relation to nature-based credit markets.