Carbon Pulse

A report has called for the UK to increase annual public investment for climate and nature measures by £26 billion to raise overall economic growth.

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

California electricity sector CO2 emissions for November fell below levels for the same month seen in a decade, continuing the decreasing monthly trend in GHG output observed throughout the year, as the grid's share of natural gas receded following a surge in October, data published Friday showed.

Almost 350,000 tonnes worth of carbon offsets have been used against the carbon tax of a Mexican state, according to an official presenting a report by the environmental market platform of the Mexican Stock Exchange on Wednesday.

For the second week in a row, regulated entities reduced net holdings of California Carbon Allowances (CCAs) as speculators built positions, while both groups trimmed RGGI net length, amid an absence of reported data yet again for Washington Carbon Allowances (WCAs), according to information published by the US Commodities Futures Trading Commission (CFTC) Friday.

US lawmakers have introduced legislation that would require the Department of Energy (DOE) to invest in direct air capture (DAC) or other technology-based solutions for carbon dioxide removal (CDR) to establish a long-term market for such projects.

Chile’s environment ministry has codified the names of three carbon credit standards into law, recognising them as sufficiently robust to qualify credits for compliance purposes under the country’s carbon tax scheme.

California gasoline sales and emissions trailed 2022 levels for the second month in a row in October, although by a smaller margin, while monthly diesel sales and emissions exceeded those from the previous year for only the second time in 2023, according to state data released Friday.

France has amended a controversial bill aimed at ensuring energy sovereignty, getting rid of any specific targets for low-carbon sources such as renewables and nuclear, EU-focused media Euractiv reported on Friday.

The first UNFCCC-approved sovereign credits from REDD forestry protection, that can be used towards climate targets, will appear for sale in the middle of the year, and prices will likely be fixed annually in an OPEC-like cartel to counter market volatility, Kevin Conrad, the chief executive of the Coalition of Rainforest Nations (CfRN), told Carbon Pulse this week.

The world’s top food producers could use their combined purchasing power to create demand of up to $20 billion a year by 2030 for agricultural commodities that are produced sustainably, industry figures said in Davos this week.

A farmer cooperative is using the power of scale and a collective voice to fetch a fairer price for its members in the carbon and biodiversity markets.

The UK government has opened a consultation into different bioenergy subsidy options with the goal of supporting power plants over an interim period between when current subsidies end, and new bioenergy with carbon capture and storage (BECCS) facilities are expected to come online.

EU carbon prices extended Thursday's modest rally after the strongest auction result in five months triggered some renewed compliance buying and renewed speculation over whether the market could see a small rally after its recent run of declines.

A large investment manager has published its first timberland and agriculture nature disclosure aligned with the Taskforce on Nature-related Financial Disclosure (TNFD) recommendations in an early move set to spark market interest.

Weekly trading volume in the Chinese carbon market has dropped to the lowest level since mid-June with prices barely moving, while the offset market this week saw liquidity increase amid heightened expectations for policy progress.

A US-headquartered joint venture is set to expand access to its software models in a bid to underpin investments in nature capital and corporate assessments under the Taskforce on Nature-related Financial Disclosures (TNFD) framework, its co-founder has said.

A German biochar firm has partnered with a British carbon removals startup to develop a facility on an industrial site in the north of England.

A major industrial firm in Japan has teamed up with a domestic utility to accelerate the development of next-generation CO2 capture technology, with a pilot project set to become operational in 2025.

A frontrunner group in Indonesia’s presidential election has told local media they would introduce the country’s much-delayed carbon tax, as a government official said the tax would unlikely come into effect until 2025, according to an industry source.