Carbon Pulse

This summer, Ireland will launch its carbon farming framework, the first of its kind to be proposed for adoption in a European country, in collaboration with EIT Climate-KIC, a climate innovation initiative co-funded by the European Institute of Innovation and Technology.

After a steady opening on Friday, EU carbon prices drifted over the rest of the morning in sympathy with weakening natural gas prices, reinforcing the view that EUAs are resuming their correlation to TTF prices, while UK Allowances provided the only splash of green on trading screens as the British market reacted to Thursday's steep fall.

Multiple international carbon project developers are set to come together to launch a Brussels-based lobby group to protect and promote the use of voluntary credit use in climate mitigation, according to the EU’s transparency register.

China’s national emissions trading scheme (ETS) saw its spot price over the past week fall to a three-month low, as the lack of policy updates continues to weigh on market sentiment.

Human rights activists in the Republic of Congo (RoC) and other NGOs have called for the revocation of an oil exploration permit in Conkouati-Douli National Park, saying it will gravely threaten the most biodiverse protected area in the country.

Uzbekistan has become the first country to receive a payment of $7.5 million from the World Bank for the sale of carbon credits from policy reforms that have slashed its carbon emissions by half a million tonnes.

The Global Environment Facility (GEF) Council has approved the spending of $736.4 million on hastening efforts to tackle biodiversity loss, climate change, and chemicals and waste pollution, as its CEO urged rich countries to ramp up contributions to the Global Biodiversity Framework Fund (GBFF).

South Korea and Vietnam have decided to strengthen their cooperation on climate change, with the development of pilot Article 6 projects at the top of the agenda. 

The European Commission on Friday launched its brand new Innovation Centre for Industrial Transformation (INCITE) in Seville, aiming to accelerate the decarbonisation of energy-intensive industries to reach climate neutrality by mid-century.

South Korea has rolled out a national strategy for the development of the biogas sector, a move it says can help cut millions tonnes of CO2e emissions over the coming years.

Multiple experts and asset owners have raised a number of issues with the Australian opposition’s thinly-detailed nuclear energy proposal, while renewable energy developers urged stakeholders not be distracted by the idea.

Australian federal and state environment ministers on Friday agreed on an ambition to protect and conserve 30% of land and sea by 2030 and a number of other ambitions that the country will take to the biodiversity COP in Colombia later this year, while also agreeing to include Other Effective land-based Conservation Measures (OECMs) in the Nature Repair Market.

Indonesian state-owned energy company Pertamina has unveiled a sustainable finance framework which it says will align its sustainability efforts with its funding strategy.

The South Australian state government has published a green iron and steel strategy and put a call out to global industry to help it figure out how it can underpin investment in the nascent sector.

Iceland-based International Carbon Registry (ICR) announced on Thursday the launch of its pilot biodiversity programme in an effort to develop a framework for project developers planning to issue voluntary biodiversity credits.

A US forest foundation has joined a group of environmental NGOs and carbon project developers urging the Science Based Targets initiative (SBTi) to support the use of carbon credits in Scope 3 emissions abatement, while a group of French NGOs have demanded the organisation abandon the proposal.

If US President Joe Biden is re-elected in November, the Inflation Reduction Act (IRA) is “likely to remain intact”, while a return of former President Donald Trump to the White House “could put some, if not all, of the tax incentives for clean energy on the chopping block,” found a Bloomberg Intelligence report released Tuesday. 

The Congo Basin, central to global carbon sequestration efforts, is under severe threat from deforestation and unsustainable exploitation, with projections indicating a potential 27% reduction in forest cover by 2050 unless immediate action is taken, experts have warned.

The US Department of Agriculture's Forest Service is set to publish a draft environmental impact statement for a new national old-growth forest plan amendment on Friday, advancing the Biden administration’s commitment to forest conservation.

California gasoline consumption in March continued to trail levels during the same time last year despite reaching year-to-date (YTD) highs, while diesel surpassed 2023 figures for the month amid the ongoing rise in monthly sales, state data published this week showed.