Carbon Pulse

China’s national carbon market saw allowance prices remain rangebound over the past week, with analysts expecting a lingering oversupply in the market during the current compliance period.

A British investor launching a natural capital strategy is aiming for a strong risk-return profile by balancing investments in nascent markets like biodiversity with more assured sectors like renewable energy and afforestation.

NGOs this week have said Australia should find ways to establish partnerships with its fossil fuel trading partners to build regional cooperation towards reducing greenhouse gas emissions, but while it has potential, experts have raised a litany of challenges that could stifle such ambitions. 

Singapore is ramping up its carbon tax from this year, but is planning major rebates for refineries and petrochemicals until the end of 2025 amid increased international competition, according to Reuters.

A Tokyo-based climate technology announced Friday it has raised 4.2 billion yen ($26 mln) in Series C funding while setting up alliances - including on carbon credits - across several sectors to accelerate the decarbonisation process.

Japan’s domestic J-Credit scheme has received a boost as the system administrator has approved the registration of 21 projects capable of generating just over 1.1 million units.

The New Zealand government has scrapped this year’s annual service charges for forestry under the emissions trading scheme.

Investors in South Korea remain cautious about making a foray into the international voluntary carbon market, given the absence of government guidance and slow trades of domestic emissions permits, an event heard this week.

Applications from projects looking to receive Australian Carbon Credit Units (ACCUs) totalled 4.3 million units at the end of the Q1, with many claiming for the first time, according to data published by the Clean Energy Regulator (CER) Friday.

A US federal district court sided with an Oregon county’s motion to hear its case against fossil fuel companies in a state court.

The Brazilian Senate’s Special Committee on Green Hydrogen advanced a bill Wednesday establishing a regulatory framework for energy sources that includes incentives designed to promote the nation's industry.

Canada’s five major banks are committed to serving their oil and gas clients towards long-term net zero goals, executives said before a parliamentary committee on Thursday, as elected officials questioned the specifics of the firms’ climate goals.

California Carbon Allowances (CCA) prices stabilised after last week's price rout, while trade in Washington Carbon Allowances (WCA) in the secondary market picked up after a strong second quarterly auction result.

Australia’s largest telecom company Telstra announced Friday it will no longer purchase carbon credits, choosing instead direct investments to reduce its emissions footprint as well as increasing its Scope 1 and 2 emissions reduction targets.

Increasing support for US biofuels production – including renewable diesel (RD) and ethanol – as more sustainable alternatives to petroleum-based counterparts, overlook their impact on air quality, particularly in rural Midwestern communities, analysis by an environmental non-profit found.

Prominent buyers in the voluntary carbon market (VCM) have raised the profile of removals credits, but costs remain high and reductions credits still have a key role to play in achieving voluntary net zero targets, panellists told conference attendees this week.

In a late move at mid-year UN climate talks in Bonn, country negotiators formally decided Thursday to try and clean up the Article 6 process by pushing several "spicy" topics out to future years, notably including that of emissions avoidance, easing the workload ahead of COP29 in November.

RGGI Allowance (RGA) prices hit new highs after posting a record settle at last week’s second quarterly permit sale, with traders viewing supportive warm weather forecasts, the absence of a reserve cap, and options activity adding to the upside.

The public consultation period for Chile’s draft Article 6 regulation concluded this week as stakeholders praised ambitious timelines and comprehensive coverage but flagged cumbersome processes for project approval.

Verra has placed three Brazil-based voluntary carbon projects on hold, pending a formal review, after they were implicated in a fraud probe launched by the Brazilian Federal Police (PF) last week.