Carbon Pulse

Japan has selected advanced carbon capture and storage (CCS) projects for the creation of a CCS value chain, as the country aims to secure a capacity of storing up to 12 million tonnes of CO2 by the end of this decade, the government announced Friday.

The Central African Forest Initiative (CAFI) has approved $20 million in funding to Cameroon in order to help smallholder cocoa and coffee farmers adopt sustainable agricultural practices, it announced this week.

Spot prices for Australian Carbon Credit Units (ACCUs) have traded sideways for much of the past three months, with traders speculating that many facilities covered under the Safeguard Mechanism have already acquired all the credits they need to meet their obligations, at least for the first few years.

EU heads of states have nominated Ursula von der Leyen for a second term as European Commission President and adopted a roadmap for the next five years that includes the continuation of European Green Deal priorities agreed over the last mandate.

New Zealand’s Agriculture Minister Todd McClay has told reporters the government will accept the advice of its handpicked panel on methane targets and science, regardless of whether it contradicts advice provided by the Climate Change Commission (CCC).

Self-determination lies at the crux of the relationships Indigenous Colombians hold with both public and private stakeholders in the voluntary carbon market (VCM), Carbon Pulse heard at the Latin America Climate Summit in Cartagena this week, as communities variously seek recourse in courts to curb rights violations and open collective land allotments to project proponents to finance conservation and development.

Global carbon standard Verra on Thursday released its new methodology for technology-based carbon capture and storage (CCS), including modules for CO2 capture, transport, and storage initiatives.

Colombia’s ETS, under development for six years, is still far from designed or implementable, per a description of outstanding matters provided by an official in Colombia at the Latin America Climate Summit on Wednesday, but the government has several milestones planned for the coming years.

The next cap-and-trade rulemaking workshop date announcement reversed declines in California Carbon Allowance (CCA) prices, while Washington Carbon Allowances (WCA) settled back into sluggish trade given uncertainty surrounding the programme's future.

The world’s top law firms are lagging in pledged climate action, showing substantial ongoing support for the fossil fuel sector despite compared to minor advancements in their work on renewable energy.

The US Department of Energy (DOE) announced Thursday that up to $16 million in funding will be available for large-scale conversion of CO2 emissions into carbon-based products.

Annual trade in carbon removal credits could grow nearly 40-fold to $100 billion by 2030-35 if key barriers are addressed, a new report predicts.

The Brazilian executive branch still hopes to see national cap-and-trade legislation pass this year, according to an official from the Ministry of Development speaking at the Latin America Climate Summit on Wednesday in Colombia, pushing back previously articulated target dates.

The Mexican state of Queretaro, with one of the highest carbon taxes in Latin America, has carved out an exception to its 20% offsets rule for firms facing steep competition and will consider international exchange rates when determining annual price increases, a senior official told Carbon Pulse on the sidelines of the Latin America Climate Summit in Colombia Wednesday.

Gold Standard has released the second iteration of its climate framework designed to help organisations contribute to global climate efforts, with key updates including a focus on climate adaptation and further support on how companies should tackle their unabated emissions.

The Supreme Court of the United States (SCOTUS) on Thursday approved a temporary halt of an Environmental Protection Agency (EPA) scheme to reduce interstate air pollution, which legal experts say could set national precedent that eases the threshold for similar stay requests of federal environmental policies.

Representatives from the government, business and academic sectors agreed that at least part of the EU’s Carbon Border Adjustment Mechanism (CBAM) revenues should be recycled to non-EU countries impacted by the mechanism, during a online webinar hosted by a think tank on Wednesday.

The International Organization for Standardization (ISO) is developing its first standard for reaching net-zero emissions, which could allow companies to use offsets to meet decarbonisation targets, it announced on Thursday.

The former CEO of project developer C-Quest Capital (CQC) has denied the allegations of wrongdoing made against him, calling them part of a plot by a major investor to seize control of the company.

EU member states continue to drive deforestation from their direct imports, with the bulk of clear cutting associated with cocoa and oil palm products.