Carbon Pulse

An Oregon-based forestry offset project registered under California’s cap-and-trade programme will be cancelled after a wildfire caused a significant reversal in carbon stocks, according to a verifier report.

The Integrity Council for the Voluntary Carbon Market (IC-VCM) on Thursday published its core carbon principles, programme assessment framework, and list of additional attributes, as it moves closer in establishing its stamp of quality assurance in the market.

The UK is set to unveil major support for front-running CCUS and green hydrogen projects later on Thursday, as well as launching a consultation on how ETS-covered companies can be better protected against carbon leakage.

Two existing CORSIA programmes have received re-eligibility from the ICAO Council to supply carbon credits under the next phase of the global aviation offset scheme, as the UN body also advanced the vintage range for units during this period, according to a recent decision. 

New York state is designing their economy wide cap-and-invest programme to enable a future linkage with the RGGI scheme, while fluidity parameters for members entering and exiting the power sector scheme are still under consideration for the final Model Rule update, RGGI states discussed on Wednesday at their third programme review public meeting.

The EU should take immediate action to include engineered carbon removals into its emissions trading system to allow technologies now considered essential for meeting climate targets to scale, though an assortment of major questions surrounding such a move remain unanswered, an event heard Wednesday.

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Shipping is not yet ready for the EU ETS phase-in starting next year and the bloc's FuelEU Maritime law to stimulate sustainable fuels will be more important in setting the pace for decarbonisation, experts told a conference on Wednesday.

The EU co-legislators are ready to start the seventh, possibly last, trilogue negotiation on the Renewable Energy Directive (RED) late into Wednesday night, after an earlier member state representatives meeting lined up a possible conclusion.

The EU will adopt a single methodology for each type of carbon removal activity, and these could be adapted from the voluntary market, a conference heard Wednesday.

US steel and aluminium exports should not be exempt from the EU’s carbon border adjustment mechanism (CBAM) as the nation's climate measures aren't as ambitious and handing out a free pass would dissuade the US and other countries from raising their game, German MEP Peter Liese said Wednesday.

Gas flaring fell to its lowest level for more than a decade, according to a new report from the World Bank published Wednesday, declining more than 3% year-on-year though still emitting over 350 MtCO2e in 2022.

European carbon prices extended their gains for a second day on Wednesday, bringing prices firmly back above €90 as Commitment of Traders data showed investment funds cut another large tranche of net length last week.

The body responsible for nature preservation in England and Wales posted a significant update to its biodiversity metric, which it expects will be the final version used when biodiversity net gain becomes mandatory in November, it said in a consultation response.

Certifier Global Carbon Council (GCC) has signed a Memorandum of Understanding (MoU) with the Egyptian Exchange (EGX) to collaborate in the expansion of regional carbon markets, according to a press release Wednesday.

Newly founded UAE-based carbon project developer Blue Carbon has signed a Memorandum of Understanding (MoU) with Liberia to implement carbon removal projects in the forestry sector under Article 6 guidelines, the Liberian government has announced.

The Australian government on Wednesday introduced its world-first nature repair market legislation into parliament, though concerns remain over what some consider fundamental gaps in the legislation.

A daily summary of our news plus bite-sized updates from around the world.

A financial tech company has teamed up with a Thai government agency to integrate its digital platform into the national carbon registry to bring greater transparency to the country’s emerging emissions market.

Canadian Prime Minister Justin Trudeau’s 2023 budget released Tuesday said it will consult on a carbon contracts for difference (CCfD) programme to de-risk private sector investments in GHG mitigation projects, as well as launch new investment tax credits or expand existing ones related to clean energy and carbon capture.