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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 8 min ago
Global land affected by water flow deviations nearly doubled from pre-industrial times, study finds
Human activity in the past century has dramatically altered freshwater flows, jeopardising their capacity to regulate vital ecological and climatic processes, a study has found.
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Korean investor eyes forest carbon project in Mongolia
A South Korean offset project developer and investor has deepened its partnership with a provincial government in Mongolia in the hope of generating international carbon credits from forestry projects.
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Korean shipbuilding giant eyes onboard carbon capture systems
One of the world's largest shipbuilders has built an alliance to develop onboard carbon capture systems (OCCS) as part of its decarbonisation plan, with a pilot project set to be launched next year.
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Sovereign wealth fund drops Indonesian conglomerate over threatened species risk
The Norwegian sovereign wealth fund will sell off ownership stakes in a major Indonesian conglomerate after concerns that its gold mining ambitions in Sumatra represents an unacceptable threat to a critically endangered species of orangutan.
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Australian First Nations group seeks interest in developing Fiji’s carbon industry
An Australian carbon trade company has signed an agreement with a Fijian NGO to nurture the country’s emerging carbon industry, alongside the national government, and is seeking interest from stakeholders to join a development working group.
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WTO meeting fails to seal deal on harmful fisheries subsidies
The latest World Trade Organisation (WTO) negotiations failed to reach an agreement on strengthening rules to curb harmful fisheries subsidies in what observers say is a major setback for marine biodiversity conservation efforts.
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Banks advance work on transition credits to accelerate, bridge financing gap in coal plant decommissioning
HSBC and Standard Chartered are working to develop a novel approach aimed at financing and accelerating the phaseout of coal power plants by introducing transition carbon credits, advancing existing efforts by governments and other private sector players.
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Scientists urge halt on deep-ocean seaweed dumping for climate change mitigation
Countries should impose an immediate moratorium on the sinking of seaweed into the deep ocean as a method of carbon sequestration, researchers have urged, highlighting the lack of scientific evidence supporting its effectiveness and raising concerns over potential environmental, economic, and ethical consequences.
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UN Environment Assembly takes shy steps on biodiversity at first meeting since GBF agreement
The 6th UN Environment Assembly (UNEA) wrapped up with the approval of 15 resolutions – including the first-ever on land degradation – and calls for expediting efforts towards achieving global biodiversity targets, though disagreements frustrated hopes for bolder commitments.
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Mix of rapid acceleration and “handbrake” risks seen on road ahead for global energy transition -report
A new report has shone a light on the complex road ahead for the global energy transition, revealing a dual narrative of rapid acceleration and significant challenges in the form of various "handbrakes".
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West Virginia bill aimed at taxing voluntary carbon offset buyers stalls in Senate
A West Virginia Senate bill looking to tax buyers of nature-based carbon offsets generated in the state failed to be approved by the upper chamber on Wednesday following debate over property rights and carbon credit speculation.
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Entities add CCAs, speculators continue profit-taking run in RGGI according to latest US CFTC data
Emitters and speculators added to California Carbon Allowance (CCA) net holdings, closing out of Auction Clearing Price (ACP) contracts post the first permit sale of the year, while financial players continued their profit-taking run in RGGI Allowances (RGAs), weekly data from the US Commodities and Futures Trading Commission (CFTC) showed on Friday.
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Ontario quadruples investment in provincial forest biomass programme
Ontario is providing an additional C$60 million ($43.3 mln) for its provincial forest biomass programme, it announced Friday, while also revealing the recipients of the latest tranche of project funding.
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Alberta TIER market credit prices decline in February ahead of retirement season
Spot credit prices under the Alberta Technology Innovation and Emission Reduction (TIER) programme dropped in February ahead of retirement season for 2023 compliance, with the provincial government expecting maximum offset usage, according to a report published late Thursday.
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ExxonMobil sees support for lawsuit against investor-driven climate action
Two business advocacy groups filed an amicus brief Thursday in support of oil giant ExxonMobil’s lawsuit against shareholders who called for the firm to set a Scope 3 emissions target, in a push for federal courts to set a precedent regarding shareholder advocacy.
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EU breaks deadlock on Energy Charter Treaty exit
The EU has broken the deadlock on its plans for a coordinated withdrawal from the Energy Charter Treaty (ECT), an international trade agreement denounced by climate activists for protecting fossil fuel investments and hampering the transition to net-zero emissions.
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UN carbon markets body to start work on Article 6 crediting tools, present wider package by COP29
Members of a UN body tasked with shaping carbon crediting under Article 6 will begin work immediately on several tools, including on baselines, additionality, and leakage, and open a consultation on methodological elements, in a bid to constructively push ahead on operationalising the international mechanism.
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Air cargo group launches voluntary carbon offsetting platform
A new portal enabling aviation industry firms and individuals to purchase voluntary credits to offset carbon emissions is now live, a spokesperson for The International Air Cargo Association (TIACA) confirmed to Carbon Pulse.
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RepRisk to expand biodiversity risk tool to include power sector
Swiss data company RepRisk is working on widening the coverage of a tool, which shows the proximity of companies to biodiversity-sensitive sites, to include firms in the power sector, an executive has said.
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UNEP warns surging natural resource forecast could derail biodiversity targets
Extraction of natural resources, including crops, wood, and minerals, is set to increase by 60% by 2060, with devastating effects on biodiversity, unless bold actions are taken, a report has found.
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