Carbon Pulse

The European Commission must develop a heating and cooling plan in order to meet its 2030 decarbonisation goals and prepare for the introduction of a dedicated Emissions Trading Scheme (ETS) for heating and transport, a coalition said this week.

The Vietnamese government has proposed tax exemptions on revenue earned through carbon credits and green bond interest in an effort to bolster the development of its domestic carbon market, local media reported Friday.

The deployment at scale of carbon capture and storage (CCS) across Europe will require stronger cross-border connections, with CO2 transport pipelines and regulated markets seen as the next big challenge by industry experts.

China's national carbon market saw its price continue to fall over the past week with shrinking liquidity, though observers expect a resurgence in trading activity in the coming months after the government finally released a draft allocation plan for 2023 and 2024 this week.

Credits in forest conservation can become "trailblazers" for high integrity, despite being the focus of multiple scandals over the past few years, an expert in nature-based solutions has told Carbon Pulse.

Papua New Guinea will introduce a 7% fee on the proceeds of carbon credit sales this month, the government has announced, in order to raise desperately needed cash from mitigation and adaptation activities.

Plan Vivo has updated its carbon credit standard and opened it for public consultation ahead of submitting its application to the Integrity Council for the Voluntary Carbon Market (ICVCM) to comply with the Core Carbon Principles (CCP).

Chinese steelmakers could reduce the costs they have to pay under the EU's Carbon Border Adjustment Mechanism (CBAM) by more than 70% if they implement timely emissions reduction measures, a report has found.

The net credit surplus in Washington’s Clean Fuel Standard (WCFS) soared towards the 1-million mark in the fourth quarter of 2023, with growth in electricity surpassing ethanol crediting, accompanied by declines in gasoline and diesel volumes, state data showed.

The cost of a carbon allowance in Quebec’s carbon market is too low to limit global temperature increase to 2C, a government advisory committee said in a report published Wednesday, as they called for revisions to the province’s cap-and-trade programme to encourage further emissions reductions and increase the cost of carbon.

American Airlines will prioritise sustainable aviation fuel (SAF) to fulfill its obligations under UN's Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) but also expects to use carbon offsets, according to its 2023 sustainability report, while the Financial Times (FT) reported Wednesday that British Airways will raise its prices to cover the cost of reducing its CO2 emissions.

A voluntary carbon trading platform has delayed its sale to July 16 of 1.5 million Internationally Transferred Mitigation Outcomes (ITMOs) at a minimum of $10 each generated by clean cooking projects in Malawi, according to a Wednesday press release.

An influential business group in Ukraine has outlined its proposals for how best to roll out an ETS in the country, requesting a slower implementation to help affected sectors ready for eventual linkage with the EU market, and demanding that work on a domestic CBAM begins next year.

REPowerEU revenue has fallen more than €300 million behind the EU’s target after the first a year of sales under the initiative, raising the prospect that even more EUAs will need to be sold into the market to raise the €20 billion in funding that has been promised from the bloc’s carbon market to pay for the switch away from Russian energy supplies.

Aggregate open interest across all European carbon futures contracts has risen significantly above 2023 and 2022 levels, driven largely by strong liquidity on the front-December and August contracts, as analysts point to a recovery in utility hedging, the shift in compliance deadline to September, and hedge fund interest.

Danish toy maker Lego Group is putting pressure on its suppliers to cut emissions in the next two years, as part of its efforts to reach net zero emissions by 2050. 

Carbon finance can accelerate the adoption of cleaner cooking with LPG in developing countries, with a number of credit-generating projects underway, though infrastructure rollout remains a core challenge, say experts.

The Finance for Biodiversity Foundation (FfB) launched the second edition of its nature target-setting framework for asset managers and owners on Wednesday with three target types.

A French nature tech startup has secured undisclosed funding from the European Space Agency (ESA) to develop a biodiversity monitoring tool for potential use in nature-related disclosures and the biodiversity credit market, Carbon Pulse has learned.

Restoring key EU rivers can help achieve 10% of the bloc's biodiversity targets under the Nature Restoration Law while strengthening countries' resilience to the climate crisis, a new report has shown.