Carbon Pulse

RGGI allowances (RGAs) inched upwards in the past week to break a record settlement price for the benchmark contract for two consecutive days even as volumes took a dive, while market participants remained positive about prices hovering below the Cost Containment Reserve (CCR) trigger levels.

EU co-legislators late on Monday found an informal agreement on a bill seeking to reduce the bloc’s dependency on third-countries in sourcing raw materials indispensable for the development and building of clean technology.

Approximately 4% of companies bound by Germany’s domestic nEHS carbon pricing programme failed to report emissions in year two of the initiative, according to a report issued by the German Emissions Trading Authority (DEHSt) on Monday.

The implosion of REDD credibility continued to dominate the voluntary carbon market last week with prices sliding again following news of certifier Verra suspending issuance of two connected Kenyan projects over allegations of sexual harassment and abuse by senior staff.

The US and Canadian Great plains lost 1.6 million acres (some 650,000 hectares) in 2021, partially due to federal policies that inadvertently favour conversion over protection of land for the production of biofuel, a recent report said.

Voluntary carbon standard accreditation body ICROA is toughening criteria for certifiers looking for its endorsement amid an explosion of interest, the group told Carbon Pulse.

The Albanian government is preparing to adjust to the EU's carbon border adjustment mechanism (CBAM) by increasing its tax on coal, as part of a 2024 budget draft that the finance ministry recently presented to the country's parliament.

The world’s first orbital sensor capable of identifying CO2 emissions from individual industrial sites was launched from the US into space this weekend.

The ecological restoration of natural forests should be prioritised over plantations in climate action due to their staggering carbon storage potential as confirmed in updated estimates, according to a global study involving hundreds of researchers that was published on Monday.

A key political advisor to the UK government has stressed she is committed to fulfilling the country’s nature-related targets, including biodiversity credit action, the same day as a reshuffle of the country’s top ministers saw the environment secretary resign.

A new registry regulation implementing a five-month shift in the annual EU ETS compliance schedule may lead to a change in the market’s seasonality, moving the periods when prices tend to rise amid increasing compliance demand, according to European carbon market analysts and traders.

The EU’s climate chief announced on Monday that the bloc will contribute a “substantial” amount to a new fund for climate mitigation and adaptation as well as allocate further funding for renewables and energy efficiency on Monday.

A key component of the British government’s climate plan is unlawful due to its reliance on bioenergy with carbon capture and storage (BECCS) removals, which will undermine the country's ability to achieve net zero by 2050, according to a legal case filed in a UK court.

European carbon prices slumped on Monday morning, giving up most of the gains posted at the end of last week as mild and windy weather and weaker energy prices combined to hearten the bears.

The World Bank is working with Vietnam to progress an auction of excess carbon credits from the planned Mekong Delta Climate Change Adaptation plan and for the nation to plant 1 million hectares of low carbon rice.

South Korea is planning to set up a special climate fund with government and private investments, as the country is seeking to secure more credits from overseas carbon reduction projects to realise its climate goals, local media reported Monday.

The UK is planning to launch its own carbon border adjustment mechanism that would mirror the full 2026 launch date of the EU’s programme, the FT reported on Monday, citing anonymous officials.

Aboveground carbon stocks in mixed planted forests could be a lot higher than in monocultures, new research has found, suggesting mixed forests could be far more effective as carbon sinks.

South Korea’s SK E&S has signed a Memorandum of Understanding (MoU) with Australia’s Santos over carbon capture and storage collaboration, the latter said Monday.