Carbon Pulse

The Australian government has appointed the country’s chief scientist to lead an expert panel to advise on greenhouse gas measurement approaches that could potentially improve its fossil methane estimations, it announced Monday.

South Dakota’s highest court reversed prior rulings made by two lower circuit courts in support of a major CO2 pipeline construction, jeopardising the project's development in the state.

A US-led carbon crediting programme published a brief last week detailing how its credits can be used in corporate climate strategies.

Financial players continued to migrate to V25 California Carbon Allowance (CCA) holdings over another week, while compliance demand for RGGI Allowances (RGAs) extended as prices surged to new record highs, according to weekly data from the US Commodity Futures Trading Commission (CFTC).

European banks charge a higher interest rate to firms with elevated carbon emissions and a lower rate to those that commit to reducing their climate impact in the future, finds a new report.

Government stakeholders and private sector representatives met in Harare, Zimbabwe this week to discuss strategies to generate carbon credits from hemp production, according to local media.

Plastic credits can support the implementation of extended producer responsibility (EPR) schemes in emerging markets and developing economies (EMDEs), according to a new report by carbon standard Verra.

The Democratic Republic of Congo (DRC) has stepped back from plans to auction oil concessions on protected areas in the Congo Basin with carbon project potential, according to a press release.

China has begun accepting applications for carbon projects under the national offset programme, with participants expecting new credits to be issued by the end of the year.

European carbon allowance prices headed for their fourth decline in a row on Friday morning as selling interest continued to out-muscle buyers with the market continuing to shadow movements in natural gas.

Sweden has launched its bioenergy with carbon capture and storage (BECCS) auction, allocating 36 billion SEK ($3.4 bln) in grants over 15 years of storage.

A Mexican non-profit has partnered with a France-based environmental company to launch a biodiversity and carbon credit project aimed at reintroducing spider monkeys on a 600-hectare area in Mexico, Carbon Pulse has learned.

Permits in China’s national emissions trading scheme (ETS) fell below the 90 yuan ($12.61) mark over the past week, hitting their lowest level in a month, though trading activity picked up significantly to end the week with more than 2 million units changing hands.

The Australian government will spend an additional A$192 million ($129 mln) to improve and protect the Great Barrier Reef’s water quality in order to prevent bleaching events and aid recovery when they do occur.

The rules for buying offsite units to comply with England’s Biodiversity Net Gain (BNG) requirements aren’t clear enough for developers currently, with some local authorities better equipped to advise on the market than others, according to a sustainability consultancy working with large building clients.

Carbon pricing is a key policy tool to ensure climate success, especially when combined with subsidies for clean energy and effective regulation such as state-induced coal phaseout, according to an international report published this week.

China's industry ministry has instructed all regions to cease issuing new steel capacity replacement plans, a move that could change the dynamics in the oversupplied and ETS-destined market.

Taiwan should make it mandatory for public funds to consider climate risks in their investment and financing decision-making and include a timeline for their divestment from fossil fuels, an environmental group has urged. 

The New Zealand carbon market finished the week trading at a five-month high on the back of the government’s decision to drastically cut the number auction volumes next year, with over 1.7 mln units traded on the spot market this week.

The Australian federal government on Thursday passed legislation on mandatory climate reporting, which it said would provide greater clarity to investors and boost investment in the net zero transformation.