Carbon Pulse

Crediting standard Verra is on track to launch its nature framework towards the end of the year with a number of adjustments following its recent consultation process, and has decided to go ahead with testing nature stewardship credits or certificates as a separate unit type.

The price for NZUs closed around 6% lower on Friday as a recent government consultation proposing weaker ETS settings has been met with "anger and frustration" in the market. 

Carbon pricing schemes, such as taxes and cap-and-trade systems, are significantly reducing global greenhouse gas emissions, a new meta-study has found, though the results vary widely depending on the policy's design and implementation.

The federal government and the Greens have agreed to pass legislation on New Vehicle Efficiency Standards (NVES) and oil and gas tax changes in exchange for the government dropping an amendment that would allow oil and gas projects be exempt from federal environmental assessments.

California regulator ARB at a meeting on Thursday dismissed the state’s Environmental Justice Advisory Committee (EJAC) recommendations to establish no-trade zones, as well as eliminate offsets and free allowances in cap-and-trade rulemaking amendments. 

Malaysia has put a firm date on getting more carbon capture and storage (CCS) legislation into parliament, progressing the practice and giving more investment certainty to an increasingly long line of international oil companies willing to partner with state oiler Petronas to store millions of tonnes of CO2 in offshore spaces.

Cambodia's environment ministry has teamed up with a Korean non-profit to launch an APAC-focused initiative, in a bid to encourage collaboration on emissions rights across the region.

California Carbon Allowance (CCA) prices have reversed their pre-auction slide after the ARB delayed the Q2 sale due to technical difficulties, while Washington Carbon Allowances (WCAs) falter through meagre activity.

The Alberta Technology and Emission Reduction (TIER) programme on Tuesday published a second round of updated benchmarks this year, tightening allowable emissions levels and raising compliance obligations through to 2030 across multiple sectors.

Shortfalls in the biodiversity net gain (BNG) policy are slated to undermine its long-term effectiveness, with uncertainty about the scheme's ability to meet demand and governance gaps among the main concerns, the UK's independent public spending watchdog has said.

A voluntary carbon market management firm and a Brazilian investment company will collaborate to bolster opportunities for offset projects in Brazil.

California Low Carbon Fuel Standard (LCFS) prices plunged to new all-time lows this week as federal tariff announcements that excluded renewable diesel (RD) feedstocks further pressured an already flooded credit market, market participants said, while the ARB fields further calls for higher programme stringency.

The Indian government is considering the inclusion of solar cookstoves as part of a list of activities eligible to generate carbon credits that can be sold abroad under Article 6.2 of the Paris Agreement, an official told Carbon Pulse on the sidelines of a conference on Thursday.

Denmark’s world first carbon removals fund could emerge as a model for other countries to follow but it also highlights ambiguities around how the voluntary carbon markets will coexist with national climate targets, particularly in the EU context.

Low-carbon technologies are developing too slowly to curtail global oil demand growth in the next five to seven years, according to research, a trend that may hamper progress towards meeting international emissions targets.

EU gas reductions are on track with objectives, two years into the bloc's plan to end reliance on Russian fossil fuels before 2030, although the new target for 2024-25 leaves room for a step backwards, analysts said.

A Kenya- and US-based social impact enterprise will obtain carbon credits through a programme to provide subsidised solar home systems to refugee communities in Uganda.

Australia’s largest carbon project developer has appointed a company board member and industry stalwart as its chair, it announced Friday.

A startup in the autonomous Spanish region of Andalusia has obtained EU funding to assess the carbon sequestration potential of traditional olive groves in hopes of engaging carbon markets, as interest grows in carbon farming, according to Spanish media.

EU carbon allowance prices rallied steadily throughout the morning on Thursday as the Dec-24 EUA contract climbed back into its recent trading range, boosted by a recovery in natural gas prices amid forecasts for lower renewables output.