Climate change news from the ground, in a warming world Was this forwarded to you? Sign up here [[link removed]] Megan Rowling [[link removed]]

Climate correspondent

One big question policy makers are grappling with these days is to what extent markets can be used to curb climate change and protect the nature that's fundamental to our wellbeing in so many ways.

For some it's a no-brainer: if only we can shift the trillions of dollars washing around the global financial system to invest in a green and socially fair transition, then job done, they argue.

For others, it's far from clear that the profit-hungry capitalist beast can transform itself into the tree-loving, people-centred creature the planet needs.

Right now the two worlds are colliding in the "crypto carbon" market [[link removed]] - also known as regenerative finance - whose proponents say putting carbon credits on the blockchain will increase transparency and open up the market to new investors, boosting much-needed flows of climate finance.

But can this be easily believed?

Market veterans are worried that the process of bundling up offsets from various forest conservation or renewable energy projects into "digital tokens" is obscuring the quality of the underlying asset, and is tilted far more in favour of financial speculators than trees and communities.

"I don't like the idea that you take a variety of credits - some good, some crap - you tokenize them into the blockchain without any additional controls, and the buyer has no idea what the hell they are buying," says Pedro Martins Barata, co-chair of an expert panel on improving the integrity of the voluntary carbon markets.

We've spent the past few months investigating the risks and opportunities of the crypto carbon market, focused on one major pioneer, Brazilian "green" crypto firm Moss [[link removed]]. We think it's an eye-opening piece of reporting that is well worth your time.

Aerial view of a road leading to Florestal Santa Maria, a conservation project in Colniza, in the state of Mato Grosso, Brazil, May 29, 2022. Thomson Reuters Foundation/Rogerio Florentino

Given that our head office is in the UK, we - like many - were saddened by the death of Queen Elizabeth II last week. The accession of her son, the former Prince of Wales, to the throne raises the important question of whether he will be able to continue with his green activism as monarch.

Our London-based reporter, Jack Graham, asked analysts if King Charles III [[link removed]] will need to pass the political baton to others, despite Britain's net-zero emissions target being enshrined in law - something he hinted at in his first speech to the nation in his new role.

Even die-hard republicans would struggle to deny that the nature-loving king has played a major part in pushing climate change and conservation up the international political agenda, even though he often relies on carbon-heavy flights or the royal helicopter to get from A to B.

Britain's Charles, Prince of Wales arrives for a meeting on the sidelines of the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain November 2, 2021. Jane Barlow/Pool via REUTERS

A regular at U.N. climate conferences in recent years, Charles is less likely to be heading to Egypt for COP27 this November due to the demands of his new duties.

But will other world leaders show up? African heads of government were not impressed by the conspicuous absence of their European counterparts at a recent climate adaptation summit, despite it being held on their turf in Rotterdam.

Senegalese President Macky Sall said richer nations' failure to come to the table and discuss how to pay for climate damage they have caused was disappointing, amid calls for far bigger flows of finance to help vulnerable countries adapt to climate change impacts [[link removed]]. It'll be a live topic at COP27.

Indigenous representatives are also hoping to get some traction there for their push to land a global pact to protect 80% of the Amazon rainforest by 2025 [[link removed]]. They have plenty of ideas but need financial, political and technical backing to make them happen, reports Dan Collyns from Lima.

See you next week,

Megan

What happened when crypto companies entered the carbon market? [[link removed]]

Cryptocurrency players have created digital tokens based on carbon credits but doubts surround their green claims

As ether adopts energy-saving 'merge', will bitcoin follow? [[link removed]]

Ethereum's imminent shift to the 'proof-of-stake' method looks set to intensify climate pressure on cryptocurrency leader bitcoin

Indigenous leaders seek global pact to preserve 80% of Amazon forest [[link removed]]

With scientists warning the Amazon is nearing a tipping point, indigenous peoples want a concrete plan to save their home from deforestation and violence tied to supply chains

As seas rise, U.S. coastal landowners urged to let the water in [[link removed]]

Led by Maryland, governments and green groups are offering incentives to allow threatened saltwater marshes to 'migrate' inland

What will King Charles's reign mean for climate action? [[link removed]]

As he takes over from Queen Elizabeth II, we ask whether King Charles III could be the 'climate king'

Indian coal hub juggles need for jobs with hope for greener future [[link removed]]

A coal-rich district in eastern India is working on green energy transition plan even as new mines open and coal production rises

African leaders aim to put climate finance top of COP27 agenda [[link removed]]

African leaders will push for more help in meeting billions in shortfalls for climate change adaptation plans at U.N talks

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