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CORSIA-eligible voluntary carbon futures hit record high on thin volume

Carbon Pulse - Fri, 2024-03-29 01:35
ICE's Phase 1 CORSIA-eligible futures hit a record high this week, with the front-December trading above $20/tonne on Thursday, in the wake of a UN decision not to approve carbon credits from any new voluntary standards.
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Oil and gas producers aiming to quadruple new reserve developments by 2030 -report

Carbon Pulse - Fri, 2024-03-29 01:19
Oil and gas producers worldwide aim to quadruple the amount of reserves sanctioned for development within the decade, research finds, in direct contrast to scientific warnings that new fossil fuel investments must end in order to limit warming to 1.5C.
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Common forest carbon indices with remote sensing unreliable, new method performs better -study

Carbon Pulse - Fri, 2024-03-29 01:12
Several commonly accepted vegetation indices used to estimate forest carbon baselines produce noisy data and risk over- or under-crediting, while multifaceted canopy height estimates are more consistent, according to research published this month.
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Canadian carbon removal company partners with US startup for DAC deployment

Carbon Pulse - Fri, 2024-03-29 00:41
A Montreal-based carbon removal company announced Thursday a partnership with a Los Angeles-headquartered direct air capture (DAC) firm to further deploy the emerging technology in Canada.
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Climate change, carbon pricing “exacerbating regional disparities”, EU report warns

Carbon Pulse - Fri, 2024-03-29 00:36
Southern and coastal EU regions suffer more harshly from climate-related disasters than others, while policies to address global warming like the EU ETS disproportionately impact poorer segments of society, according to data collected by the EU executive.
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EU needs tech development as well as carbon central bank for removals, scientists say

Carbon Pulse - Thu, 2024-03-28 23:57
The EU needs to develop technical capabilities and set up a proper regulatory structure in order to effectively remove large amounts of CO2 from the atmosphere, including creating a European carbon central bank, according to a study published on Thursday.
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Slump in ETS-covered gas generation drives UK emissions 5.4% lower in 2023

Carbon Pulse - Thu, 2024-03-28 23:51
The UK's greenhouse gas emissions fell by 5.4% in 2023, according to government data published Thursday, mainly driven lower by a reduction in gas use for power production covered by the country's carbon market.
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Early auctions for ETS2 would help hedging, price discovery -analyst

Carbon Pulse - Thu, 2024-03-28 23:30
As companies prepare for the start of the ETS2 in 2027, there are currently no possibilities for them to hedge against rising CO2 prices on the EU’s newly-created carbon market for transport and heating fuels, writes a prominent carbon market analyst.
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Euro Markets: Midday Update

Carbon Pulse - Thu, 2024-03-28 22:41
European carbon prices eased marginally lower on Thursday morning after initial strength, with energy markets also falling and the daily auction clearing below the spot value, as traders await the publication of verified emissions data next week.
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British and EU businesses call for ETS linkage in joint letter

Carbon Pulse - Thu, 2024-03-28 22:35
A group of British and EU business and trade associations have called on the UK’s energy minister to initiate negotiations with Brussels to link the two compliance carbon markets as a matter of urgency.
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Maersk still profiting from ETS surcharges, NGO says in response to company’s pushback

Carbon Pulse - Thu, 2024-03-28 21:33
The NGO Transport & Environment is standing firm on claims that AP Moller-Maersk is charging customers more than the actual cost of complying with the EU ETS, after updating its analysis in response to pushback from the Danish major. 
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CN Markets: Chinese CO2 allowance price reaches fresh landmark high amid growing optimism

Carbon Pulse - Thu, 2024-03-28 21:18
Chinese carbon allowances hit another record high secondary market spot price on Thursday, as optimism remains over upcoming regulatory updates including sectoral expansion of the emissions trading scheme.
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Japan set to tighten data reporting requirements for domestic rice carbon projects

Carbon Pulse - Thu, 2024-03-28 20:12
The committee steering Japan’s J-Credit programme is considering strengthening data reporting requirements for an increasingly popular rice-focused methodology to ensure credit quality.
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INTERVIEW: Australian group looks to develop regions-based nature repair model

Carbon Pulse - Thu, 2024-03-28 20:01
An Australian environmental conservation organisation is seeking local government funding to establish environmental accounts that could inform biodiversity pilot projects, create jobs, and spur conservation efforts for the region.
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Surging food waste puts biodiversity under increasing pressure, UNEP says

Carbon Pulse - Thu, 2024-03-28 18:28
Households worldwide squandered over one billion meals a day in 2022, as challenges in reducing food waste threaten to hold back progress towards achieving global biodiversity targets, a UN Environment Programme (UNEP) report has said.
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Safeguard facilities surrender 1.2 mln ACCUs in 2022-23, regulatory data shows

Carbon Pulse - Thu, 2024-03-28 17:15
Safeguard Mechanism data published by Australia’s Clean Energy Regulator Thursday showed facilities covered by the scheme surrendered 1.218 million Australian Carbon Credit Units 2022-23.
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INTERVIEW: EU carbon prices haven’t seen bottom yet, veteran analyst warns

Carbon Pulse - Thu, 2024-03-28 16:52
EU carbon prices have probably not seen their multi-year bottom yet and will likely head south again to re-test the key €50 level in the coming months, a veteran market analyst told Carbon Pulse.
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US firm takes majority stake in Norwegian carbon capture business

Carbon Pulse - Thu, 2024-03-28 16:07
A Texas-headquartered oil tech company will acquire majority ownership in a Norwegian carbon capture firm to accelerate industrial decarbonisation, it announced Wednesday.
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Surge of new oil and gas activity threatens to wreck Paris climate goals

The Guardian - Thu, 2024-03-28 16:00

World’s fossil-fuel producers on track to nearly quadruple output from newly approved projects by decade’s end, report finds

The world’s fossil-fuel producers are on track to nearly quadruple the amount of extracted oil and gas from newly approved projects by the end of this decade, with the US leading the way in a surge of activity that threatens to blow apart agreed climate goals, a new report has found.

There can be no new oil and gas infrastructure if the planet is to avoid careering past 1.5C (2.7F) of global heating, above pre-industrial times, the International Energy Agency (IEA) has previously stated. Breaching this warming threshold, agreed to by governments in the Paris climate agreement, will see ever worsening effects such as heatwaves, floods, drought and more, scientists have warned.

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