Carbon Pulse

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Analysts at a major ratings agency have cut their outlook for EU carbon prices, following other experts in tempering their expectations amid a confluence of bearish factors but differing in their anticipation of a full recovery later this year.

The US Department of Energy (DOE) announced Thursday the disbursement of awards to 49 projects nationwide geared to reduce industrial greenhouse gas (GHG) emissions, as well as additional available funding opportunities to tackle decarbonisation challenges in hard-to-abate industries.

While Canada’s greenhouse gas inventory demonstrates the forestry sector as roughly carbon neutral, academics and environmental non-profits called attention to methodologies that instead deem the sector as generating more emissions than electricity and agriculture, accounting for more than 10% of the country’s annual emissions, in a series of reports published in January.

A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).

The Republic of Ireland has said it wants every person in the country to be aware of the importance of biodiversity, as it launches its latest National Biodiversity Action Plan.

The European Commission will include carbon removals in its recommended goal to reduce net greenhouse gas emissions by 90% by 2040 compared to 1990 levels, according to a leaked draft seen by Carbon Pulse on Thursday.

A recent dynamic life cycle assessment (LCA) study has revealed that soil organic carbon (SOC) changes resulting from the removal of forest residues for biofuel production significantly impact greenhouse gas emissions.

The European Commission has handed out nearly €600 million to eight cross-border energy infrastructure projects, including several for CO2 management, it announced on Thursday.

Pressure is mounting on the Science-Based Targets initiative (SBTi) to allow companies to use carbon credits to meet emissions reductions targets, after a survey of corporate big hitters found a healthy majority said it would galvanise meeting their mitigation goals.

European carbon prices fell back on Thursday morning as the surge of buying interest that had driven prices back above €65.00 in midweek dried up, while energy markets retreated, encouraging a resumption of more aggressive EUA selling.

UK power company Drax is setting up a new US-based business unit to develop and build large-scale carbon removal projects internationally, it announced on Thursday.

The United Nations Development Programme (UNDP) has released a new set of guidelines to enable governments to identify and redesign subsidies harmful to biodiversity.

The World Bank has issued an outcome bond in partnership with a social enterprise whereby the proceeds will be directed towards reducing and recycling plastic waste, generating plastic and carbon credits to provide a financial return to investors.

A Berlin-based startup that offers a digital voluntary carbon market platform has successfully raised €10.3 million in a recent funding round, it said Thursday.

BP has invested into a software platform that allows corporates and individuals to purchase carbon credits or sustainable aviation fuel (SAF) to offset emissions in hard-to-abate sectors.

An Australian oil and gas company has established a new trading arm in Singapore to sell both its spot cargoes of LNG and get a foldhold into the voluntary and compliance carbon markets.

An independent environmental markets administrator in Australia has joined a broad partnership that is in the process of bidding for government funding to launch an initiative to drive investments in nature positive carbon, biodiversity, and natural capital initiatives.

Demand for Australian Carbon Credit Units (ACCUs) will continue to be limited this year as buyers and emitters demonstrate “a reluctance to accumulate” in response to new compliance obligations under the Safeguard Mechanism, a leading local bank said Thursday.

A Singapore-headquartered biochar project developer has teamed up with an Indian renewable energy firm to generate high-quality carbon sequestration credits while also developing ethanol for aviation fuel, the companies announced Thursday.