Carbon Pulse

China and Australia have signed an updated Memorandum of Understanding (MoU) to cooperate more closely on climate change and energy, the two countries announced Monday.

A radical mindset change in how companies address their dependencies on nature is key to ensuring biodiversity credits emerge as an effective solution to tackle ecosystem and species loss, the founder of Germany-based tech startup Landbanking Group told Carbon Pulse.

New Zealand market participants have all but written off any chance Wednesday’s government NZU auction will clear due to the secondary market trading at prices below the auction price floor amid ongoing regulatory uncertainty.

While political priorities may shift following the 2024 European elections, the science remains clear: Europe must maintain momentum towards achieving its climate objectives, the EU’s scientific advisors said in a note to newly-elected MEPs on Monday.

New Zealand emissions trading scheme observers have raised concerns with the government’s consultation process on its controls and settings, saying the lack of detail on key points makes it difficult to understand the coalition’s intentions. 

Nature-based solutions (NBS) are being increasingly adopted to address urban environmental challenges in cities across the Global South, but significant obstacles remain, particularly in the areas of policy alignment and community participation.

An ocean carbon removal project developer has shut down and abruptly laid off all remaining staff on Friday, local media reported, as the firm said it has suffered from a collapse in voluntary carbon prices.

Emitters and speculators added to longer dated California Carbon Allowance (CCAs) holdings, while slashing length for the most part in current vintages across the WCI, RGGI, and Washington carbon markets, according to weekly data from the US Commodity Futures Trading Commission (CFTC).

The California Legislature passed its 2024 budget in the form of Assembly Bill 107 (AB 107) on Thursday, and now awaits the approval of Governor Gavin Newsom (D) to conduct a total of $293 billion in spending, including $40 million for carbon removal research and development.

The California-Quebec joint WCI auction in August will offer the lowest volume of allowances so far this year, according to a notice from California regulator ARB published Friday. 

Both Canada’s emissions and GDP would be higher in 2030 without carbon pricing, according to data made public Thursday by Environment and Climate Change Canada (ECCC).

A long quest for legislation to restore ecosystems across land in Europe may reach the end of the line on Monday when the EU's 27 environment ministers gather in Luxembourg for what could be a decisive meeting, although negotiators are still unsure about how things will play out exactly.

Heightened regulatory scrutiny could encourage investment in the voluntary carbon market (VCM), but market players need a long-term strategy for the relatively nascent industry, panellists told conference attendees this week.

Credit retirements from the four main standard bodies in the voluntary carbon market plummeted in May, just ahead of the first approval of the core carbon principle (CCP) label for an estimated 27 million credits at the start of June.

Sector-specific trading strategies for EU carbon allowances will increasingly determine supply and demand balances as free allocations are phased out and Europe’s power sector contiues to decarbonise, according to a carbon analyst and financial modelling expert.

Nature tech companies are struggling to attract investment for biodiversity monitoring due to lack of corporate demand, with venture capitalists encouraging them to "survive" as the market is slated to grow within the next two years.

A Tokyo-based carbon project developer has partnered with a provincial government in Vietnam for developing methane offsetting projects in the Red River Delta region of the Southeast Asian nation.

The global carbon dioxide removal (CDR) market risks failing to fully take off if more corporate clients do not commit to purchasing carbon credits now, speakers at a conference in London warned this week.

European carbon was marginally lower at midday as the market headed towards its least volatile week since December, with prices held in a tight range by traders eyeing next Wednesday's expiry of the June options contracts, while energy also moved in narrow ranges.

The Canadian government has released a 2030 Nature Strategy for reversing biodiversity loss, in line with the goals of the COP15 final agreement, proposing ramping up natural capital accounting.