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BC takes steps to maintain Ottawa’s oil and gas emissions cap policy beyond next federal election

Carbon Pulse - Fri, 2024-03-29 09:39
British Columbia will introduce legislation to “backstop” federal plans to impose an emissions cap on Canada’s oil and gas sector, the province announced Friday, in an effort to defend the measure against the risk of cancellation by a new administration in Ottawa.
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Canadian carbon offset investor reports big net loss amid falling credit prices

Carbon Pulse - Fri, 2024-03-29 08:19
A Canada-headquartered voluntary carbon offset originator on Thursday reported an annual net loss of $35.5 million (C$48.1 mln) in 2023 amid halved credit sale prices, despite ongoing restructuring efforts to reduce operating costs.
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Last coal plant in New England to close by 2028 amid pressure by green groups, regulators

Carbon Pulse - Fri, 2024-03-29 07:37
The last coal-fired power plant in New England will close by 2028, its owner announced this week, handing environmental activists a victory.
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Tight cookstove emissions methodology wipes out cheap abatement under $10, finds report

Carbon Pulse - Fri, 2024-03-29 03:48
Tightening the calculation of emissions from voluntary cookstove credits will almost wipe out abatement for under $10 per tonne, finds a report.
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Carbon insurer closes $10 mln investor raise

Carbon Pulse - Fri, 2024-03-29 03:15
A US-based carbon credit insurance company has closed a $10 million investor raise, bringing several new firms on board and attracting the support of multiple angel investors.
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Demand ramping up in voluntary cookstove sector after pre-issuance credits snapped up, says financier

Carbon Pulse - Fri, 2024-03-29 02:50
Nearly half of around 590,000 African voluntary credits from biomass improved projects were recently sold ahead of issuance, and above secondary market prices, a carbon financier told Carbon Pulse Thurdsay, after last week announcing a hefty investment into electric cookstoves.
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Chile approves first offsetting projects eligible for paying national carbon tax

Carbon Pulse - Fri, 2024-03-29 02:50
Chile officially approved the first eight carbon projects eligible for payment of its $5/tonne national carbon tax Wednesday, operationalising a new offsetting mechanism announced last year.
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Canadian project developer buys 25,000 tonnes of BECCS removals credits from UK energy firm

Carbon Pulse - Fri, 2024-03-29 02:43
A UK energy firm announced Thursday that it has reached a five-year agreement for the sale of 25,000 tonnes of bioenergy with carbon capture and storage (BECCS) credits to a Calgary-headquartered project developer at $350/tonne, according to a Thursday press release.
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German court bans airline from using REDD voluntary credits to offset emissions

Carbon Pulse - Fri, 2024-03-29 02:27
A German court has ruled an airline should not have advertised flights as 'carbon neutral' because they were offset with voluntary credits from forestry conservation projects that could not ensure the promised compensation.
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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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