Carbon Pulse

RGGI Allowance (RGA) values soared to new year-to-date (YtD) highs with a step up in secondary market volumes traded through a mid-week Q4 auction that triggered additional sale volume.

The Turkish ETS will not initially be open to non-compliance players and will feature a rising emissions cap rather than a decreasing one, the head of the government’s carbon pricing department told Carbon Pulse on the sidelines of COP28 in Dubai.

A US project developer and the African Union Development Agency (AUDA) have penned partnerships with two African countries that call for millions of hectares of land to be restored, with as much as 3 billion tonnes of CO2 to be sequestered over the next half century.

More than 50 institutions on Monday called on the US Congress to make amendments to the federal CO2 sequestration tax credit in upcoming legislative proposals.

Bargain hunting dominated the voluntary carbon market (VCM) last week where activity started to slow down for the year, despite the emergence of the first correspondingly adjusted credits that are expected to create a new tier of trading.

Carbon credit rating agencies risk undermining financial flows by grading projects in a fragmented and retroactive way, developers have outlined in a paper that takes aim at the companies that have judged much of their work as poor in recent years.

Puro.earth’s carbon removals standard has proposed changes to enable it to gain the ICVCM’s CCP integrity label and be eligible for use in the CORSIA international aviation offsetting scheme.

Voluntary market certifiers Gold Standard and Verra have partnered with Singapore to develop a playbook for standard operating procedures for countries active in the Paris-era carbon market, they announced Monday.

Carbon capture and storage (CCS) is nothing more than a fig leaf designed to keep fossil fuel industries booming and polluting according to a panel on the sidelines of COP28 in Dubai.

Colombia, Kenya, and France on Monday said they will launch an expert review of the relationship between, debt, nature loss, and climate change in a bid to better position nations to solve the three major crises.

A series of several ambitious, but achievable, changes could transform Brazil's climate and economy, but more robust efforts are needed, attendees heard from an expert panel discussion on the launch of a report at COP28 Monday.

Chile has signed an implementation agreement with Switzerland under Article 6 of the Paris Agreement, as it crafts domestic frameworks and consults with local stakeholders in preparation for the global carbon market, an official told a side event at COP28.

UK energy-from-waste company enfinium said on Monday that it plans to invest up to £800 million in CCS technology, creating what it says would be one of the largest carbon removal projects in Europe.

A new negotiating text on the first ever Global Stocktake (GST) of the Paris Agreement dropped on Monday evening at the COP28 climate summit in Dubai, urging nations to cut their fossil fuel consumption and production by mid-century while omitting any reference to phasing them out.

It is Day 12 at COP28 and negotiations are under crunch time to find areas of agreement across key texts, including on the Global Stocktake (GST) and Article 6. Carbon Pulse's team of correspondents continue to chase after news on the ground from the latest texts and sources. In our daily running blog, we will report relevant or useful updates throughout the day. Timestamps are in local time (Gulf Standard Time, GMT+4).

Market actors eagerly await progress on Article 6 as COP28 draws to a close, citing the potential to improve stability and trust in carbon markets, removing the ‘fear of entry’ for buyers currently hesitant to enter the market due to the risk of reputational damage linked to greenwashing.

UN talks on carbon markets under Article 6 of the Paris Agreement were said to be one step away from collapse late on Monday, as "carnage" in rooms negotiating rules for international trading has also hindered progress in those concerning crediting, sources told Carbon Pulse, with language in a new draft text barely recognising experts' work done on methodologies over the past year.

Australia on Monday announced it will distribute more than A$3 million ($2 mln) in grants to four projects for conservation of marine ecosystems under the Blue Carbon Accelerator Fund (BCAF) it administers in partnership with IUCN.

The European Commission plans to release in February its proposal for the bloc's 2040 emissions target along with a communication on industrial carbon management, the EU's executive reportedly outlined on Monday.

The governments of the Netherlands, Germany, France, Spain, Finland, and Austria issued a joint statement on Sunday issuing recommendations to carbon credit buyers on the voluntary carbon market (VCM).