Carbon Pulse

Twelve months ago, Respira's Ed Hewitt posed six questions for the carbon market to resolve so it could deliver more for nature. How did these matters progress in 2023? And what’s the outlook for 2024 and beyond? Hewitt revisits the questions he asked and gives a status update for each.

The Russian economy ministry is mulling the introduction of a carbon pricing system from 2028, according to multiple local media sources.

Indicators selected for the Kunming-Montreal Global Biodiversity Framework (GBF) should be regularly reviewed to ensure that redundancies and contradictions are identified and the progress toward global conservation goals is not misrepresented, a study has recommended.

European carbon allowances traded in a relatively narrow range on Tuesday morning as the market appeared to be seeking renewed direction and some short-positioned speculative traders were thought to be quietly covering some of their positions, while energy markets were mixed amid unchanged fundamentals.

An international investment firm will focus on nature-based solutions and voluntary carbon credits, it said in a nature strategy published this week.

NGOs have urged the EU to stay true to the agreement reached at COP28 last month and set clear fossil fuel phaseout dates as part of its forthcoming communication on 2040 emissions target, in a letter sent to the European Commission on Tuesday.

The corporates that retired the largest volume of voluntary carbon credits last year generally preferred recent vintages, most paying an average of between $4-6 for the units, analysts said in a report published this week.

Amazon has signed a corporate power purchase agreement with a European utility to raise its share of electricity coming from a Scottish offshore wind power farm, it announced on Tuesday.

A Japanese project developer has teamed up with a domestic partner in Vietnam to further expand its carbon credit generating business in Southeast Asia, with a rice-focused project in the pipeline.

A software platform to aid project developers manage the lifecycle of carbon credits has raised $10 million across two funding rounds, which it will use to grow its team and capabilities.

The European Union needs to invest €40 trillion by 2050 in order to reach net zero emissions while remaining globally competitive in line with the bloc's strategic autonomy agenda, according to a new report.

A startup targeting large-scale nature regeneration through carbon projects has raised $14 million in Series A funding in a round co-led by a venture capital firm and a renewable energy company.

The Australian Labor government has failed to live up to its pledge to combat climate change more effectively than its predecessor, as it continues to overly rely on emissions cuts from the land sector to enable the expansion of exporting fossil fuel projects, according to analysis published Tuesday.

Singapore’s ACX Group on Tuesday announced it has connected its Singapore-based trading platform with the environmental instruments exchange it operates in Abu Dhabi’s alongside the ACX Clearing Corporation.

A daily summary of our news plus bite-sized updates from around the world.

A pair of New Jersey Democratic senators introduced Monday clean fuel standard legislation, in what would be the first such state programme on the US eastern seaboard if implemented.

An environment commission in Oregon approved on Friday disbursements totalling $10 million to projects aimed to reduce the state’s GHG emissions.

Italian-based climate tech company 3Bee will start piloting its newly verified biodiversity monitoring protocol in spring, moving one step closer to the launch of the "first certified biodiversity credits".

RGGI allowances (RGAs) reached all-time highs over the week on the highest volumes so far this year, as market participants mostly expect the Cost Containment Reserve (CCR) to be triggered at the Q1 auction similar to the last quarterly sale.

A new report analysing the potential negative impacts of scaling up renewables concludes that the benefits of clean energy largely outweigh any potential adverse effects they may have, particularly when projects adopt a 'best practice' approach.