Carbon Pulse

A county-level government in China’s Fujian province has sold a batch of the nation’s first-ever soil and water conservation carbon credits with other public agencies queueing to follow, as national regulators eye inclusion of the credit type in the national offset market.

Nature is not sufficiently addressed in the draft text of COP28’s Global Stocktake, with countries needing to better integrate their national biodiversity and climate plans, WWF has said.

European carbon prices slid back below a key level on Friday after an early rally had pushed the market to its highest in three days, maintaining a close correlation with energy prices that snapped a two-day rising streak amid continued mild weather.

A €100-million fund will soon start selling voluntary credits generated from its Iberian forest carbon investments.

EU institutions agreed on new rules to boost energy performance of buildings across the bloc late on Thursday evening after months of negotiations, though NGOs criticised co-legislators for significantly weakening the European Parliament's original stance.

A Zambian energy company will issue a $54 million tranche of a green bond programme, the first from a firm in the country, by the end of the year with indirect benefits for forests.

Singapore has signed an implementation agreement on Article 6 carbon credits with Papua New Guinea, its first of the kind, although environmental groups have called for projects in PNG to be barred from proceeding due to what they argue is poorly crafted domestic carbon market legislation.

The spot price in China’s carbon market over the past week dropped to the lowest level since mid-September amid relatively low trading volume, while liquidity in the national offset market remained stable.

The government of President Xiomara Castro in Honduras has unveiled an initiative renewing and strengthening its commitments to protect the biosphere of Platano River and the Moskitia forest at COP28 in Dubai.

As Canada faces pressure from civil society to swiftly implement regulations, questions remain regarding how its new oil and gas emissions cap policy will reduce emissions while also achieving its stated purpose of enabling enhanced production of the fossil fuels.

A renewable energy subsidiary of an Abu Dhabi-based asset management firm has launched a project in Brazil to produce large volumes of biofuel from a native plant species in the country, which will have substantial potential for generating carbon credits, reforesting the country, and job creation.

Vietnam seeks to learn from international experiences to construct the legal framework for a domestic carbon exchange, as the country is set to launch the marketplace in the second half of this decade.

A science vessel currently docked in Dubai is being called upon by governments around the world to help better understand the carbon and biodiversity stores of their coastal waters.

In a statement released Friday at COP28 in Dubai, Bolivia called for the ceasing of all market functions under the market-based Article 6.4 mechanism, which it sees as crowding out progress on non-market option Article 6.8.

Voluntary carbon standard Verra will announce on Saturday a partnership with a high-level advisory body to produce research on how best to develop its approach, and share the information with stakeholders as early as the second quarter of next year.

A global institute plans to launch a $500-million fund for buying up Paris Agreement units next year, its head told a side event at COP28 in Dubai, as well as making millions available through 2027 for technical capacity building.

It is Day 9 of the COP28 climate conference, and weary (or wary) negotiators are returning from Thursday's rest day. Carbon Pulse correspondents are back on the scene at Expo City, having celebrated the break in negotiations by returning to our regularly scheduled programming: uploading non-COP news. With rumours of the Russian President in town, and the mood in negotiation rooms being described as "toxic", the UAE hosts have a big job on their hands. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (Gulf Standard Time, GMT+4).

A daily summary of our news plus bite-sized updates from around the world.

The Oregon Department of Environmental Quality's (DEQ) policy board appointed a new deputy director and approved an amendment to its recent climate rulemaking to clarify the language for covered fuel suppliers at a special meeting on Thursday.

Canada released the first progress report on its 2030 Emissions Reductions Plan (ERP), showing the country poised to reach an interim target in 2026, and expecting additional mitigation actions to help achieve the 2030 goal.