Carbon Pulse

Farms in England are set to see substantial falls in business income due to dwindling commodity prices, sharper subsidy cuts following Brexit, and increased competition from cheaper imports, while uptake of natural capital payment alternatives is still lacklustre, industry experts said on Thursday.

Carbon removal experts expressed frustration this week at news that the EU’s carbon removal methodologies will not yield carbon removal units with the bloc’s stamp of approval until likely 2027.

Brazil should lead G20 efforts in developing globally recognised standards for nature-related disclosures, non-profit CDP has said, as the country considers mandating compliance with target 15 of the Kunming-Montreal Global Biodiversity Framework (GBF).

Voluntary carbon attendees at an industry event held in Florence this week struck an optimistic note in light of imminent market developments that are expected to boost demand, but multiple sources highlighted a lack of tangible impact so far, with buyers still said to be holding back on offset investment due to reputational risk.

A project developer plans to distribute 600,000 energy-efficient clean cookstoves in Africa as part of a multi-million dollar grant to decarbonise the electrical grid in Uganda.

South Korea is planning to develop a fund to support carbon offset projects globally to generate Internationally Transferred Mitigation Outcomes (ITMOs) that the East Asian nation can use to meet its climate goals, Bloomberg reported Thursday.

The government of England should invest more in advising farmers on how they can deliver effective change in transitioning to more sustainable practices, experts have said.

The UK remains interested in linking its emissions trading scheme with other markets, but needs to determine how this would work in practice to ensure that it makes sense for the market and businesses involved, a government official said on Thursday.

EU carbon prices were modestly firmer at midday after a volatile morning saw levels fluctuate in a nearly €3 range, following significant swings in natural gas prices as traders considered supply issues in the US Gulf.

An international standard-setting body on disclosures has been urged by its staff to ramp up efforts in researching biodiversity, as companies are showing an increasing interest in improving assessments of nature-related risks and opportunities.

UK supply renewables chains are ill-prepared to meet renewable deployment targets for net zero, a new report commissioned by the government has warned. 

A UK-based market intelligence and carbon credit procurement platform has partnered with a Southeast Asian private sector alliance to support the growth of voluntary and compliance carbon markets in the region, it announced  Thursday.

In Indonesia, an area the size of Singapore has already been deforested to supply the nation’s booming nickel industry, and eight times that amount of forest could be under threat, according to a report released Thursday.

Australia's state of Queensland on Thursday passed legislation to reduce the state’s emissions by 75% by 2035, as well as to achieve 80% renewable energy generation by the same date.

India is one of the most vulnerable countries to global warming, but neither the political parties nor the voters have climate change issues high up on their agenda as the world’s largest democracy begins its elections on Apr. 19.

The first Coal to Clean Credit Initiative (CCCI) pilot project could see more progress this year, according to the developers, who eye avoiding up to 19 million tonnes of CO2 emissions with the early phase-out of a Filipino coal plant.

Experts expressed mixed views on the European Commission's proposed methodologies to certify different types of carbon removal activities under the EU's Carbon Removals Certification Framework (CRCF), with some observers welcoming bold elements of the proposals and others criticising them on structural or methodological grounds.

The Australian government is expected to ‘imminently’ release a discussion paper on the rework of its landfill gas methodology and likely finalise it by the end of the year, but market participants are still left guessing what will be done with one of the market's biggest-yielding project types.

Gold Standard has approved its first geological storage methodology as it steps into the carbon removal (CDR) sector that is starting to shift from a niche market into the mainstream.

Denmark’s Energy Agency (DEA) has awarded three contracts to companies for new carbon capture and storage projects after completing the funding round for negative CO2 emissions (NECCS).