Carbon Pulse

US-based Constellation Energy plans to restart the Three Mile Island nuclear power plant, which was closed in 2019, under a 20-year deal with Microsoft to supply carbon-free energy to its data centres.

The US Department of Energy (DOE) will fund up to $1.8 billion of mid-scale and large-scale direct air capture (DAC) facilities, according to a Notice of Intent (NOI) issued on Friday. 

Climate Asset Management (CAM) has secured over $1 billion to invest in natural capital initiatives such as regenerative agriculture, as investor demand for projects aimed at improving soil health, planting trees, and rehabilitating land continues to grow, the firm’s CEO has said.

The majority of automakers in Europe and North America have not set targets for integrating fossil-free steel, according to a report released Wednesday. 

The California-Quebec joint WCI auction in November will offer a higher volume of allowances this quarter following Q3's year-to-date nadir, according to a Friday notice from California regulator ARB.

An offshore aquaculture company based in the Faroe Islands has received €2.5 million from a fund managed by the investment arm of a Dutch bank.

The carbon removals (CDR) market needs offtake agreements with built-in de-risking measures to scale and offer attractive credit prices, a dealmaker told Carbon Pulse.

Verra is damaging investor confidence in the voluntary carbon market through its “presumption of guilt” when handling investigations, warned stakeholders in the Southern Cardamom REDD+ project (SCRP) that says it lost more than $30 million in revenue during a 14-month long probe.

The US Commodity Futures Trading Commission (CFTC) approved final guidance Friday regarding the listing for trading of voluntary carbon credit derivative contracts.

Swedish carmaker Volvo has published a position paper on nature and biodiversity, pledging to take action to reduce its impacts and to invest in conservation and restoration to counterbalance residual negative effects of its activities.

With the European Commission’s new lineup it will be the EU’s climate action commissioner who will handle taxation policy, a move hailed as a “breakthrough” by a top official, although it is still unclear who will be in charge of the EU’s Carbon Border Adjustment Mechanism (CBAM).

A developer partnership announced Thursday the first tranche of issuance from their second improved forest management (IFM) project in Mexico’s Yucatan Peninsula region.

A European carbon trader previously with Freepoint Commodities has started with Switzerland-headquartered trading firm Gunvor Group, Carbon Pulse has learned.

The continued existence of a large thermal coal mine in Sarawak, Malaysia, goes against the nation’s climate commitments and the opacity surrounding environmental approvals to its extension is a problem, an environment watchdog said Friday.

The European carbon market moved with relative stability on Friday morning, ticking higher tracking a rebound in energy markets after a volatile previous session linked to reports of a Ukraine-Azerbaijan gas transit deal.

Large volumes of eligible voluntary carbon credits for the UN's CORSIA international aviation offsetting scheme will take years to materialise due to supply requirements that force project developers to guarantee against double claiming risk, even if ICAO approves major standards for the current phase at a meeting in November.

As EU institutions gear up for talks to finalise the proposed Green Claims Directive, participants in the voluntary carbon market have flagged issues with the draft bill, arguing it goes too far beyond its original objective of fighting greenwashing.

The West Australian government is finding new ways to support companies interested in pursuing carbon capture and storage (CCS) projects in the state, as its mining and energy department has aggregated a large amount of historical oil and gas drilling information for use.

Chinese carbon allowance prices saw a modest recovery over the past week after the national holidays, with trading activity continuing to pick up ahead of the compliance deadline. 

Environmentally harmful subsidies currently stand at no less than $2.6 trillion per year, $800 billion higher than 2022 estimates and equivalent to 2.5% of global gross domestic product (GDP), according to a report released this week.