Carbon Pulse

Policymakers in the Asia Pacific should take into consideration complementary policy options such as power sector reforms and fuel tax changes when drawing up carbon pricing schemes, according to the International Monetary Fund (IMF).

South Korea has circulated a proposal that would let CO2 removed through carbon capture, utilisation, and storage (CCUS) be deducted from company emissions accounts under the nation’s emissions trading scheme, according to local media reports.

Analysts have nudged up their short- and medium-term forecasts for EU carbon allowances, though most repeated expectations that any prices rises will remain limited by weak demand from emitters and ample supply.

Toyota has been awarded the gold medal for being the highest emitting sponsor of this year's Olympics, responsible for much higher CO2 emissions than host nation France, in an ironic twist for the event claiming to be the 'greenest games yet'.

Colorado has unveiled recommendations to broaden its embryonic, in-state carbon market by facilitating trading between the largest industrial manufacturing facilities and energy-intensive and trade-exposed (EITE) sectors such as cement and steel.

New York Governor Kathy Hochul (D) on Friday unveiled $100 million to decarbonise the Empire State Plaza, targeting a 20% GHG reduction in its operations.

A US federal appeals court on Friday rejected another request for a temporary pause on controversial Environmental Protection Agency (EPA) power plant standards as they are being challenged on merit.

Stakeholders shifted their California Carbon Allowance futures and options holdings to vintage 2025 in the aftermath of ARB’s cap-and-trade workshop fallout, while the month-long trend of strong compliance demand for RGGI Allowances (RGA) continued, weekly data from the Commitment of Traders’ report released Friday showed.

Iowa state Republican lawmakers, counties, and landowners filed separate motions on Monday requesting the Iowa Utilities Board (IUB) to reconsider its issuance of a construction permit to a proposed CO2 pipeline.

Canada’s ministry of natural resources on Friday announced more than C$71 million ($51.7 mln) in additional funding to support its 2 Billion Trees (2BT) initiative, which was previously deemed unlikely to meet its target without significant changes.

Algeria’s government and private sector are looking to carbon capture and storage (CCS) to counterbalance emissions from oil and gas production, with an eye to minimising the impact of the EU's Carbon Border Adjustment Mechanism (CBAM), according to local media sources.

The steel sector has potentially turned a corner on net zero, says a new report, after years of being considered a laggard in emissions reduction pathways.

Azerbaijan has today announced the launch of the Climate Finance Action Fund (CFAF), initially targeting $1 billion in financing from fossil fuel producing countries and companies, and half of the capital to go towards climate projects in developing countries.

The Turkish parliament has passed a law requiring ships to pay for the greenhouse gas emissions released when entering and departing from the country's ports.

The Indian government has released detailed compliance carbon market regulations, under the Carbon Credit Trading Scheme (CCTS) 2023, following months of extensive stakeholder consultations across all major cities in the country.

The abrupt resignation of the founder of Kenya’s National Rangeland Trust (NRT) amid claims of inappropriate behaviour by the Board has triggered an informal review by Verra on whether there are implications for a huge soil carbon project in the country, the standard body told Carbon Pulse Friday.

The voluntary carbon market is in a slump, characterised by low trade volumes and largely sluggish prices, as a consistent flow of bad press around projects has put off potential buyers.

European carbon was poised for a second weekly decline as the market fell to an 11-week low amid very light volume and in a less than €1 trading range, reflecting a calm day in energy markets as well as the onset of the peak holiday period.

Investors believe steel can be made cleanly and are willing to spend on it, whilst also being increasingly sceptical about the long-term financial viability of the metallurgical coal used to make the vast majority of steel, an Australian activist investor group said Friday in a report based on a survey of 500 respondents from 34 nations with cumulative billions of dollars under management.

The European Union’s Carbon Border Adjustment Mechanism (CBAM) is in “clear violation” of the Paris Agreement’s principle of common but differentiated responsibilities (CBDR) and places the burden of decarbonising heavy industrial sectors on the Global South, panellists told a webinar this week.