Carbon Pulse

The UK government must not carry its surplus of emissions over to the next carbon budget, as the focus of decarbonisation shifts from electricity to tougher-to-abate sectors, the independent Committee on Climate Change (CCC) warned on Wednesday. 

The implementation of a carbon fee alongside the continuation of Inflation Reduction Act (IRA) tax credits would yield the most significant and cost-effective emissions reductions for the US, according to modelling results published Tuesday by a DC-based think tank.

New York's legislature should assert more authority by setting supply and price limits itself under the state's future cap-and-invest programme, to help ensure that overall climate efforts sufficiently consider the affordability and reliability of energy, according to a report from a think tank published Tuesday.

A startup that lets investors buy digital tokens backed by physical EU carbon allowances has shut down due regulatory and financial difficulties.

The European Parliament approved on Tuesday a revision of the bloc’s long-term budget, with some lawmakers warning the European Commission against an excessive deployment of capital to support Ukraine that would leave a shortage of funding for industrial decarbonisation.

Exchange operator ICE confirmed on Tuesday the delayed launch next month of carbon unit futures contracts eligible for compliance under Alberta’s Technology Innovation and Emissions Reduction (TIER) programme.

A French NGO is looking to develop a methodology to create offsets from installing eco-friendly housing in West Africa, and is recruiting a carbon expert to work towards its approval by a voluntary carbon standard.

The US Department of Agriculture (USDA) will evaluate and list voluntary carbon ecosystem players in 2024, as part of its Congressionally-approved programme to facilitate farmer, rancher, and private forest landowner participation in the market, according to government documents published Tuesday.

A bill to restore at least 20% of the EU’s land and seas by 2030 got the final green light by the European Parliament on Tuesday, amid tensions within the centre-right European People's Party (EPP) group, which is seeking to portray itself as the farmer's party as EU elections approach on 6-9 June.

The geopolitical fallout of Russia’s war in Ukraine is forcing Moscow and Central Asian countries to look more seriously at renewable energy than ever before, a long-time advisor in the region said on Tuesday.

Governments and companies have been urged to conduct nature risk assessments when identifying sites for renewable energy plants, to minimise biodiversity impacts while enhancing investments, by the European Bank for Reconstruction and Development (EBRD).

Climate risk is affecting a growing number of actors across the economy as supply chains become more interconnected around the world, according to a climate insurance company offering specialised products for the carbon, energy, and agricultural industries.

The European Parliament has become the first international body to criminalise large-scale ecosystem destruction, introducing sentences of up to 10 years for CEOs, following a vote on Tuesday.

The clean energy industry may need to speed up, but the economy isn't yet ready to quit oil and gas, and won't be for decades to come, oil and gas executives said on Tuesday.

Heat pump sales across the EU fell by around 5% last year compared to the previous year, data from an industry group show, putting the EU’s climate and energy targets at risk.

The government of Brazil has launched a programme to encourage foreign investment in sustainable projects by offering protections against exchange rate volatility, according to a government statement released Monday.

A project developer has unveiled plans for a demonstration ocean-based hydrogen plant in Singapore that will show how durable carbon dioxide removal (CDR) costs can fall below $100 per tonne before 2030, the company announced Tuesday.

Microsoft has signed an offtake agreement for 10,000 tonnes of voluntary carbon removals with a Kenyan-based biochar supplier, one of the largest single purchases of the credit type in the region.

European carbon allowances gave up most of Monday's gains in early trade on Tuesday as the previous day's positive sentiment across most energy markets faded and sellers reappeared.

The break-even point between the cost of biofuels and EUAs for the shipping sector is likely to occur as soon as next year, as purchasing greener alternatives to petroleum products becomes cheaper than the cost of carbon permits, according to market analysts.