Carbon Pulse

RGGI Allowances (RGA) in the secondary market reverted up from a heavily discounted permit sale mid-week for the closing quarter of 2024, with traders anticipating further downside and regulatory updates to inform year-end direction.

A US Circuit Court delivered a two-pronged win for Kentucky against the US EPA after ruling that the agency’s denial of the state’s pollution control plan violated federal law.

Gold Standard on Monday published new guidance on the approval process of its carbon credits for use under the first phase of the CORSIA global aviation offsetting scheme, stating that only projects insured via the World Bank's Multilateral Investment Guarantee Agency (MIGA) will be deemed eligible.

Liberia plans to design a national policy on carbon markets as a precursor to instituting legal and governance frameworks for Article 6 carbon trading under the Paris Agreement, with the ultimate goal of achieving its forthcoming Nationally Determined Contribution (NDC) UN climate targets.

The EU can paint its Carbon Border Adjustment Mechanism (CBAM) in a good light by redistributing revenues to help the least developed countries decarbonise their own steel industries, according to research published on Monday.

Eligible futures for CORSIA Phase 1 bounced higher on Monday after a late Friday announcement from UN agency ICAO confirmed four new standard bodies have been formally granted eligibility to supply credits to the international aviation offsetting scheme.

The Slovenian government has committed €403 million to prevent the bankruptcy of the Sostanj coal power plant and the Velenje mine, taking control of both from state-owned utility Holding Slovenske Elektrarne (HSE) as part of its plan to phase out the fuel source by 2033.

Annual EU carbon emissions from electricity generation covered by the bloc's ETS are set to slump heavily once again in 2024 despite a strong rise in gas-fired output last month, analysts have said, though next year could see a much tighter market and a sustained price recovery.

Saudi officials and private sector players are open to buying carbon credits from Kenya in a voluntary market (VCM) deal at $8 per tonne, according to statements made on the sidelines of the UN Convention to Combat Desertification (UNCCD) COP16 conference in Riyadh last week.

One of Australia’s biggest resource powerhouses could export billions of dollars worth of green iron by the beginning of the next decade and A$170 bln ($109 bln) by 2050 while saving emissions bigger than the entirety of Australia’s annual carbon output, a report said Monday.

European carbon prices gave up the gains made on Friday afternoon and resumed their rangebound trading on Monday as attention began to focus on the upcoming expiry of the December options contract, while UK carbon allowances dropped to their lowest in seven months amid low gas-fired generation and continued regulatory uncertainty.

The UK government will introduce a support scheme to encourage investment in clean hydrogen-to-power projects, following supportive feedback in a public consultation, it announced on Monday.

Launching a biodiversity credit market is among actions New Zealand should take in order to scale investments in nature-based solutions (NbS), according to a global consultancy.

An international carbon registry has partnered with Land and Forest Iceland, a government agency, to develop offset project standards and help advance the country’s climate initiatives.

A Colombian environmental standard has opened a public consultation on the first conservation project registered under its biodiversity credit programme, planning to certify it next year.

Selling low-carbon cement through book-and-claim deals, which separate the emissions savings from the physical product that's delivered, can help to scale up clean technologies by addressing the problems of geographic constraints and cost premiums, according to a manager at a clean cement developer.

Demand for pricier low-carbon industrial products can be encouraged with a reform of public procurement rules and the creation of ‘lead markets’ for green cement, the industry has argued ahead of new EU policy proposals due in the coming mandate.

The agreement on Article 6 at COP29 last month is raising confusion among corporate carbon credit buyers but it should boost confidence in the market longer term, participants told an industry conference last week.

Vietnam and the Global Green Growth Institute (GGGI) have extended for five years a cooperative framework on climate action and carbon pricing designed to put the Southeast Asian country on track to meet its ambitions under the Paris Agreement.

In a week that saw UN civil aviation body ICAO publish its technical report on the flagship CORSIA offsetting scheme, which is being incorporated into national regulations around the world, this and other compliance carbon pricing initiatives posed diverse challenges and opportunities around the LATAM region – from Trinidad to Guyana, and Mexico to Brazil.