Carbon Pulse

Fewer than half of the CO2 allowances on offer at Wednesday’s South Korean auction were sold, as demand remains dim amid oversupply and regulatory uncertainty.

Worsening climatic conditions leading to carbon credit issuances failing to materialise has been labelled a key risk that is being overlooked by the Australian carbon market, according to analysis released this week.

Japan will issue its first climate transformation bond next year to drive decarbonisation of five key sectors and enable public-private partnerships, and ultimately not just drive its own decarbonisation but much of Asia’s.

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

The world is still on track to produce more than twice as much fossil fuel in 2030 than would align with the Paris Agreement to curb global warming, and unless governments tackle this by collaboratively phasing out production the gap will only widen, a UN-backed report warned on Wednesday.

Representatives from climate groups and electricity utilities continued to provide feedback to California regulator ARB regarding changes to the state's cap-and-trade regulations, while a petroleum association opposed increased programme stringency.

Australia’s Woodside Energy has made incremental progress on its CCS ambitions, but its investor briefing day held Wednesday offered little new in terms increased progress or ambition on its climate and decarbonisation goals.

Chinese regulators have released an action plan for the country to better tackle methane emissions, outlining several policy tasks including the utilisation of the domestic voluntary carbon market, despite a lack of substantial targets.

EEX’s European carbon trading volumes nearly doubled in October compared to a year ago after the exchange implemented a new market-maker programme that it said has had a positive impact.

BlackRock and US-based energy firm Occidental have teamed up to develop the world's largest direct air capture (DAC) facility, with the global investment giant channelling $550 million of client funds into the project.

Tuesday's election to determine who occupies the 40 Senate and 100 House of Delegates seats in the Virginia General Assembly is too close to call, and could impact the ongoing battle to bring the state out of the RGGI trading bloc.

Market participants expect robust demand for Washington's upcoming Allowance Price Containment Reserve (APCR) sale on Wednesday, with Washington Carbon Allowances (WCA) offered on the secondary remaining above the scheme's Tier 1 trigger price.

The US Department of Agriculture (USDA) Forest Service has announced plans to commence rulemaking that would allow the agency to consider applications for carbon capture and sequestration (CCS) projects on national forests and grasslands.

Stakeholders are concerned that prices of eligible credits for the UN's aviation carbon offsetting scheme will spiral once the mechanism enters its mandatory phase later this decade, with the supply outlook unclear as doubts over eligibility and accounting procedures pile risk onto project developers and investors.

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The atmosphere in negotiations for the EU’s nature restoration law is not positive, with its future over the next few months uncertain, a member of the Greens–European Free Alliance (EFA) party involved in the talks has said.

Carbonplace, a carbon credit transaction network developed by several global banks, said Tuesday it has signed a series of partnerships, among them a collaboration with carbon credit rating agency BeZero, whose ratings will be hosted on the fintech’s platform.

Prices for Xpansiv CBL’s standardised nature-based carbon contract, the N-GEO, ticked up on Tuesday after the marketplace removed the Kariba and Kasigau REDD projects from its list of pre-screened projects.

A US-headquartered non-profit has proposed a comprehensive code of conduct to guide the burgeoning field of marine CO2 removal (mCDR) research, in an effort to minimise damage to ecosystems, communities, and the industry's reputation that could be caused by the sector's hurried development.

EU-based banks and companies - such as TotalEnergies, Shell, RWE, and Eni - are involved in more than 100 of the world's biggest 'carbon bomb' fossil fuel extraction projects that could tip the world into unstoppable warming, NGOs said in a report on Tuesday that urged legislators to avert this by setting binding climate goals for companies in ongoing EU legislation.