Carbon Pulse

Companies and private individuals took responsibility for 3.34 million tonnes of emissions, sold by an intermediary in the form of climate contribution certificates last year, it said Tuesday.

Philippines has been elected as host country for the Loss and Damage Fund at the second meeting of the Board which began in Songdo, South Korea on Tuesday.

An executive from a major investment bank has said Australia’s carbon price will have to rise before it commits to investing in CCS projects in the region, arguing it cannot rely on government subsidies.

Although it was overhauled this year to address the energy crisis caused by Russia’s war in Ukraine, the EU power market will need a second round of reform to enable a growing share of renewables in the system, experts say.

An independent ESG-focused organisation has launched a new transition analytics tool, designed for asset owners and managers to better manage climate risk, engage their portfolio companies, and meet their varied environmental commitments and reporting requirements. 

The New Zealand government on Tuesday released a draft framework for carbon capture, utilisation, and storage (CCUS), proposing to bring resulting CO2 reductions or removals into the nation’s emissions trading scheme.

Japan has issued a funding call under the Joint Crediting Mechanism (JCM) to provide financial support for projects that can achieve greenhouse gas reductions by destroying alternative fluorocarbons from used equipment.

A South Korean project developer has secured a contract to purchase internationally transferred mitigation outcomes (ITMOs) under the Paris Agreement from an African country, as it seeks to expand its business in the emerging Article 6 market.

Singapore and Laos on Tuesday announced they have signed a Memorandum of Understanding (MoU) to cooperate on carbon credits under Article 6 of the Paris Agreement.

Indonesia has signed a $35 million debt-for-nature swap and coral reef conservation agreement with the US and four non-governmental organisations (NGOs) to protect and restore country’s coral reef ecosystems.

Industrial and oil and gas heavyweights have highlighted the long list of challenges that need to be figured out if their aspirations of establishing CCS value chains in Asia are to become a reality.  

An Australian carbon removal tech startup has raised A$10 million ($6.7 mln) in seed funding as it gears up to meet its target of capturing 1 billion tonnes of CO2 per year by 2032.

The Constitutional Court of Colombia on Monday decided its first-ever case on carbon credits, ruling that the developer, certifier, auditor, and consultant involved – as well as national authorities – had failed to act with due diligence to safeguard Indigenous rights.

Producers closed out of California Carbon Allowance short interest across futures contract expiry and ahead of ARB's ETS workshop this week, while traders built RGGI Allowance (RGA) length as prices stay elevated, according to weekly data from the US Commodity Futures Trading Commission (CFTC) delayed due to last week’s US holiday.

The WCI compliance instrument surplus continued to build in Q2 as the market marches forward towards the November deadline for true up obligations in the California-Quebec joint carbon market, government data published Friday showed.

RGGI Allowance (RGA) values over the past week reversed course from earlier records, but stayed well within the range set since early June, while an uptick in activity ahead of the US holiday boosted ICE volumes to the highest in a month.

Technical challenges associated with hydrogen use for clean electricity generation continue to hinder its potential in helping decarbonise the power sector, according to a recent study by a US environmental non-profit.

Canada’s province of Ontario has opened funding applications for large emitters wanting to implement emissions reduction projects under the recently launched Emissions Performance Program (EPP).

The lack of an existing precedent for carbon removals under the UN Clean Development Mechanism (CDM) is “a blessing and a curse”, said a member of the Paris Agreement's Article 6 Methodological Expert Panel during a webinar Monday, as market standards are yet to be developed under Article 6.

The shipping industry urgently needs universal standards for measuring methane emissions in order to encourage the use of technologies to cut emissions, an industry-led technical group said on Tuesday.