Carbon Pulse

California’s low carbon fuel standard (LCFS) prices fell around 5% this week with the reopening of a renewable diesel (RD) refinery flooding an already oversupplied market.

A US steel producer on Wednesday announced a 20-year agreement with a carbon capture technology firm to establish a CCUS facility at one of North America’s largest integrated steel mills.

A regenerative agriculture project from a Saskatchewan-based carbon credit origination and streaming company was the first to receive approval by a nascent New York-headquartered registry, according to a statement released on Wednesday.

Verified emissions under the EU ETS dropped by a larger-than-expected 16% in 2023, according to the European Commission and two analysis firms’ calculations, with a huge fall in power generator CO2 output driving the record decline.

Greece is expected to submit a not-so-ambitious climate plan, giving in to fears that its economy will not be able to sustain a fast decarbonisation, according to officials.

The US Department of Energy (DOE) has unveiled its first federal strategy for decarbonising the buildings sector, intended to reduce related greenhouse gas (GHG) emissions 65% by 2035 and 90% by 2050.

A data management company has teamed up with an online trading platform provide to deliver live voluntary carbon market information to customers, the two announced on Wednesday.

Two non-profit organisations and a Brazilian financial institution have joined forces with Rio de Janeiro municipality to develop an urban biodiversity credit programme and standard, while planning five other projects around the world, Carbon Pulse has learned. 

Three Brazilian community groups, stakeholders in a suspended REDD project certified by Verra, are attempting to sue the voluntary carbon standard for $8 million each ($40 mln Brazilian reais) in lost profits.

Industry, environmental NGOs, and think tanks have urged the European Commission not to rush when defining the rules of low-carbon hydrogen in an upcoming delegated act.

The UN has appointed German environmental diplomat Astrid Schomaker as the next executive secretary of the Convention on Biological Diversity (CBD), ahead of the crucial COP16 biodiversity summit due to be held in Colombia later this year.

A Canadian e-commerce platform is investing $3.37 million in a reforestation activity in Brazil designed to support biodiversity and generate voluntary credits, in what represents a rare forest carbon investment for the company, according to an announcement Wednesday.

The quality of each biodiversity or carbon project is more important than every initiative being tradable for the market to work, similar to trading bottles of wine, French asset manager Mirova has said.

The UK government has said it will not rule out measures designed to reduce demand for flights if its current strategy for curbing aviation emissions falls short, in a response to a report by lawmakers scrutinising the country's decarbonisation plans for the sector.

While industry frontrunners are developing ways of reducing the emissions-heavy clinker content of cement, critics say the EU’s free ETS allocation rules were designed for established production methods that effectively delay climate action.

Indonesia should not focus on applying corresponding adjustments to carbon credits sold abroad in order to better make use of the voluntary market to meet its Paris Agreement commitments, according to a think tank advising the Southeast Asian nation.

European carbon prices traded in a very narrow range on Wednesday morning as participants waited for the publication of verified emissions data for 2023, while a one-day delay to the weekly Commitment of Traders data and the fortnightly pause in the EUA auction calendar added to the lack of drivers for the market.

A US-based carbon removal company has delivered its first CO2 removal credits from a project in India, the company announced on social media platform LinkedIn.

The scientific community has overlooked the potential impact of reducing consumption and resource use on biodiversity preservation policies in recent years, a paper has said.

Biodiversity footprint provider Iceberg Data Lab has raised $10 million at the first close of its Series A funding round, bringing the total raised to over $15 mln.