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Euro Markets: Midday Update

Carbon Pulse - Mon, 2024-07-22 21:25
European carbon prices weakened throughout the morning on Monday, dropping to a 12-week low as natural gas prices also came under pressure as the August options contract expiry approaches at the end of the week, while analysts highlighted changes to the auction programme that mean there will be no cuts in volume sold next month.
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BRIEFING: EU looking into ways to simplify CBAM as early as 2025 -EU official

Carbon Pulse - Mon, 2024-07-22 21:21
The European Commission is looking into ways to simplify the EU’s Carbon Border Adjustment Mechanism (CBAM) from as early as next year, the head of the Commission’s taxation unit told Carbon Pulse.
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Brazil’s Para state opens public consultation on forest concession for carbon projects

Carbon Pulse - Mon, 2024-07-22 21:19
The government of Para in Brazil has opened a public consultation regarding a pilot concession for forest conservation projects to generate carbon credits and other environmental assets.
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Solar and wind ‘will miss 2030 clean energy target without £48bn funding’

The Guardian - Mon, 2024-07-22 21:14

Hitting target for zero-carbon electricity system will require ‘step-change’, says analyst Cornwall Insight

Solar and wind power generation will fall well below the target needed to decarbonise Great Britain’s electricity grid by 2030 without an injection of £48bn, according to a forecast from one of the UK’s leading energy analysis companies.

The government has promised to deliver a zero-carbon electricity system by 2030, requiring the doubling of onshore wind, tripling of solar power and quadrupling of offshore wind capacity.

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Categories: Around The Web

Tokyo-based developer proposes first cookstove methodology for JCM

Carbon Pulse - Mon, 2024-07-22 20:32
A Japanese developer has become the first to propose a cookstove methodology under the Joint Crediting Mechanism (JCM), potentially paving the way for a boost of supply for the scheme.
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Suriname eyes biodiversity offsetting in updated national plan

Carbon Pulse - Mon, 2024-07-22 20:23
Suriname has released its updated National Biodiversity Strategy and Action Plan (NBSAP) under the Kunming-Montreal Global Biodiversity Framework (GBF), setting out a broad range of actions to ramp up funding for nature conservation and restoration.
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Malaysian Indigenous group takes governments, palm oil firm to court for breaching land rights, endangering biodiversity -watchdog

Carbon Pulse - Mon, 2024-07-22 20:22
An Indigenous Peoples group in Malaysia’s Pahang state has filed a court case against a palm oil plantation firm as well as the state and federal governments over a proposed palm oil project it says breaches their land rights and endangers wildlife.
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Study finds close balancing act for carbon storage in world’s forests

Carbon Pulse - Mon, 2024-07-22 19:47
The world’s forests have been finely balancing carbon sequestration for the past three decades as the ability of some forests to store the greenhouse gas has dropped while others expanded, a global study of 30 years of data to 2019 found.
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Permit surplus in China ETS negligible, according to govt data

Carbon Pulse - Mon, 2024-07-22 19:35
The surplus of CO2 permits in China’s national emissions trading scheme fell to negligible levels in the previous compliance cycle, according to government data released over the weekend.
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BRIEFING: ASX Environmental Futures contracts will be a tale of two credit types, carbon market participants say

Carbon Pulse - Mon, 2024-07-22 16:25
The Australian Securities Exchange (ASX) is set to launch futures contracts for the Australian and New Zealand carbon markets later this month, however participants say the level of participation and interest will vary considerably between the two jurisdictions.
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APAC countries should consider complementary policies to ensure effective carbon pricing -IMF

Carbon Pulse - Mon, 2024-07-22 14:05
Policymakers in the Asia Pacific should take into consideration complementary policy options such as power sector reforms and fuel tax changes when drawing up carbon pricing schemes, according to the International Monetary Fund (IMF).
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South Korea to allow for CCUS in ETS accounting

Carbon Pulse - Mon, 2024-07-22 13:59
South Korea has circulated a proposal that would let CO2 removed through carbon capture, utilisation, and storage (CCUS) be deducted from company emissions accounts under the nation’s emissions trading scheme, according to local media reports.
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