Carbon Pulse

Weekly trading volume in China's emissions market plunged over the past week despite the announcement of the long-awaited allowance allocation plan, with observers remaining cautious about the supply outlook in the absence of key policies.

Bursa Malaysia’s new carbon trading platform, Bursa Carbon Exchange (BCX), completed its first carbon credit auction on Thursday, which saw domestic buyers purchase all the available 150,000 Verra-registered carbon credits, the stock exchange announced.

A major foresty company in Japan has teamed up with a leading telecommunications company to develop a cloud-based data platform exclusively for forest carbon credits, with a demonstration project set to be launched in April this year.

Indonesia can avoid up to $3.8 trillion in investment requirements and achieve an earlier peak in its emissions if it targets net zero emissions by 2050 instead of its current goal to reach it ten years later, provided it prioritises low-cost renewable energy over costlier alternatives, a report released on Friday has found.

A London-based sustainable investment provider has closed its Blue Ocean Fund at €170 million, making it the world’s largest VC fund focused on the regeneration of ocean health.

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California Carbon Allowance (CCA) prices traded through a volatile week in line with the risk-off tone sweeping across markets amidst the spate of banking collapses on either side of the Atlantic, while Washington Carbon Allowances (WCA) held above the scheme's Tier 1 reserve price on the secondary market.

A Paris-headquartered environmental services firm on Thursday said it helped corporates buy €1 mln worth of carbon removal units from tech-based endeavours.

A California-headquartered climate tech firm on Thursday announced it has completed its $30 mln Series A fundraise, and will use the money to market its mineralisation-based carbon removal units.

The Canadian Clean Fuel Regulations' (CFR) first obligation period begins on July 1, triggering greater demand for US renewable fuel imports to satisfy compliance obligations, experts who spoke to Carbon Pulse agreed.

A carbon credit ratings agency has downgraded its scores of two previously highly-ranked African projects, while upholding the scores of several others in a review of afforestation offset activity.  

There is considerable potential for the Biodiversity Credit Alliance (BCA) to serve a similar function to the cross-stakeholder Integrity Council for the Voluntary Carbon Market (IC-VCM), though a key difference will be that this initiative is not two decades overdue, a panel heard Thursday.

A significant rise in both coal and gas output last year increased fossil power generation across Enel's Italian and Iberian assets by almost one-third year-on-year, according to its annual results published late on Thursday.

A hybrid standardised contract aiming to provide a single global price for the voluntary carbon market is about to undergo its first annual reweighting, which will see fewer forestry credit prices and more renewable and energy efficiency credit prices included.

EUA prices plunged by more than €4 on Thursday morning after a relief rally on news that bank Credit Suisse would receive a bailout gave way to renewed selling, while the daily auction cleared at the biggest-ever discount to prevailing market prices.

The European Commission presented its Critical Raw Materials Act (CRMA) proposal on Thursday, seeking to reduce the bloc’s dependency on third-countries in sourcing raw materials indispensable for the development and building of clean technology.

The Green Climate Fund (GCF) this week approved $587.4 million in new funding for seven mitigation and adaptation projects at this year’s first board meeting, including a payment to a cross-country programme aiming to cut carbon emissions by over 55 million tonnes of CO2e.

The European Commission's publication of its proposal for a Net Zero Industrial Act (NZIA) is facing last-minute uncertainty, with sources citing internal disagreements about how nuclear technologies should be dealt with.

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Malaysia plans to establish itself as a regional hub for CCS in Asia, largely through its national oil company Petronas, with plans to develop infrastructure to store up to 10 million tonnes of CO2 annually by 2030, according to a presentation at a conference on Thursday.