Carbon Pulse
News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 1 hour 8 min ago
Fuel producer to convert Finnish oil refinery to renewables
A crude oil refinery in Finland will be gradually transformed into a renewables and circular solutions refining hub, according to plans announced on Wednesday that would eventually eliminate demand for EU ETS allowances at what is currently the nation's second-biggest emitter.
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UK government updates on business plans for GHG removals and bioenergy with carbon capture
The UK government on Wednesday published updates on its plans for greenhouse gas removals and bioenergy with carbon capture, as part of the country’s measures to meet a legally-binding commitment to reach net zero emissions by 2050.
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Euro Markets: Midday Update
European carbon made robust gains early in the session as energy prices rallied after Tuesday's sell-off, though EUA volume was light as the holiday slowdown began in earnest, while exchange data showed that investment funds had reduced their net short position last week for only the second time since mid-October.
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MSCI launches nature framework to demystify metrics
MSCI ESG Research has launched a nature framework with a checklist to help investors start identifying which metrics to consider, to incorporate biodiversity into the investment process.
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UK launches plans to set up competitive carbon capture market by 2035
The UK government intends to launch a new domestic carbon capture, usage and storage (CCUS) market by 2035, it announced on Wednesday, furthering support for the process towards its aim of storing 20-30 million tonnes of CO2 a year by 2030.
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Indian government updates draft carbon market rules to include voluntary carbon markets
The Indian government has released an updated carbon market regulations draft, making amendments to its existing rules to include voluntary carbon markets under the ambit.
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CP Daily: Tuesday December 19, 2023
A daily summary of our news plus bite-sized updates from around the world.
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Argentina carbon exchange announcement is fake news, says market operator reported to be involved
A new carbon trading exchange is allegedly being launched in Argentina, according to multiple media sources, but one of the companies reported to be involved says it’s fake news.
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ARB lays out increased CI reduction targets in its proposed LCFS amendments
California regulator ARB on Tuesday published a preliminary Low Carbon Fuel Standard (LCFS) regulatory proposal with amendments to the carbon intensity reduction benchmarks, exemption for intrastate fossil jet fuel, and phaseout pathways for avoided methane crediting featuring among other measures to tighten the programme.
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New Forests raises A$450 mln from Australian, European investors for carbon forestry fund
Australian headquartered New Forests has closed its Australia New Zealand Landscapes and Forestry Fund, after raising some A$450 million ($304 mln) from institutional investors, it announced Wednesday.
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COMMENT: The Voluntary Carbon Market is Reawakening – Let’s Make 2024 A Year of Action
This year, the American Forest Foundation attended its second Conference of Parties, COP28, held in Dubai. While many things came out of COP28, and perhaps even more hoped-for things did NOT come out of COP28, one incredibly important outcome concerned the voluntary carbon market’s role in the global struggle against climate change.
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US DOE dishes out $46 million more for CCS, announces semi-finalists for DAC award
The US Department of Energy (DOE) continued its streak of heavy investment in emissions cuts, announcing Tuesday $45.6 million in investments in carbon capture, transport, and storage, as well as semi-finalists for an award of $1 mln in direct air capture (DAC) development.
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Massachusetts December GWSA carbon auction prices continue to decline
Massachusetts’ power sector Global Warming Solutions Act (GWSA) auctions for current and future vintages settled below the September sale on lower volumes, according to a report from Potomac Economics published by the Massachusetts Department of Environmental Protection (MassDEP).
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Canada announces final electric vehicle standards, credit system for emission-free auto sales by 2035
Canadian auto manufacturers and importers must phase out the sale of new gasoline-fuelled cars via annual zero-emission vehicle (ZEV) regulated sales targets from the 2026 model year, while covered entities will have the ability to generate, bank, and sell credits to meet compliance goals, the federal environment ministry announced Tuesday.
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Washington conserves mature state forest acres with cap-and-invest revenue
Washington state announced a proposal Monday to safeguard thousands of state forestland acres using millions earmarked from carbon market revenues, although local communities and environmental groups continue to contest the government’s auctions of mature state forests for timber harvest.
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FEATURE: UAE-based firm chalks up secretive carbon credit development deals, raising integrity concerns
A UAE-based carbon project developer has drawn global focus in signing over a dozen confirmed agreements to source carbon credits from African, Latin American, Caribbean, and Asian countries since the company’s launch a year ago, according to an assortment of sources that raised multiple concerns about overly vague or opaque dealmaking
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Environmental trading platform seeks views on new watershed carbon credit methodology
A blockchain-based environmental trading platform has opened a public comment window for its newly developed credit class and methodology for watershed carbon, it announced Monday.
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US government proposes “first of its kind” national old growth forest conservation plan
The US Department of Agriculture (USDA) announced Tuesday that it is proposing changes to forest management plans across all national parks and grasslands in an effort to conserve and steward old growth forests, a move hailed by environmental groups as an important first step.
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Belgium seeks to use time at helm of EU to wrap up Green Deal ahead of 2024 elections
The soon-to-be Belgian EU presidency aims to conclude work on the bloc's mammoth Fit for 55 climate policy package and set the stage for post-2030 emissions cuts in time for elections that will signal the start of the new five-year political term.
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Biodiversity Pulse: Tuesday December 19, 2023
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).
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