Carbon Pulse

A European agtech firm has expanded its network of soil carbon removals projects further afield to now include projects across Africa, it said on Tuesday, aiming to have 200,000 hectares of African territory under its programme by the end of the year.

European carbon prices rallied on Tuesday morning after setting a new one-year low, as technical buying wiped out early losses and traders focused on Wednesday's weekly Commitment of Traders report amid expectations the recent price decline will have encouraged a further build in speculative short positions.

The UK’s two-year-old “world-leading” environmental legislation has not affected deforestation rates due to a lack of follow-up action by the government, according to analysis conducted by NGOs and published on Tuesday. 

The world’s 60 largest food companies reduced their risks from biodiversity and deforestation by 6% over the last year, a report by investor network FAIRR has found.

Members of the European Parliament's environment committee resoundingly agreed climate action should be accelerated in all sectors to meet the Paris Agreement goals and called for and end to fossil fuel subsidies by latest 2025, in a vote on their demands for the COP28 UN climate conference on Tuesday.

Countries must immediately start building capacity for Article 6 readiness, carbon market participants have warned, citing a general lack of understanding among governments about the Paris Agreement's international emissions trading rules, the risks of overselling mitigation outcomes, and the dangers of allowing nations to revoke the authorisation of carbon transfers across borders.

Xpansiv CBL has removed the Kariba and Kasigau REDD projects from its list of pre-screened projects, the carbon credit marketplace said in a note early on Tuesday, meaning that credits from these projects are no longer deliverable under its N-GEO nature-based standardised spot contract.

Australia on Tuesday released a discussion paper on how to reduce carbon emissions from agriculture and land use, the first of six sectors for which it intends to draw up detailed strategies to put its overall GHG output in line with its Paris commitments.

The biggest business group in Japan has demanded the government makes major changes to the Joint Crediting Mechanism (JCM), including involving more partner countries and project types, increasing project co-funding, and making it easier and more attractive for private companies to participate.

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

GHG output under the California cap-and-trade programme declined in 2022, falling year-on-year in every sub-sector, according to data published Monday, with annual emissions slipping below trader expectations.

An analysis of over 1,000 publicly listed companies worldwide shows that only one in 20 discloses quantified plans on how they will meet their greenhouse gas targets, a leading British university’s research centre found.

A London-based environmental products trader has left commodities trading house Mercuria to join rival Hartree Partners, Carbon Pulse has learned.

A non-binding motion brought forward by federal Conservative Opposition Leader Pierre Poilievre calling on the Liberal government to exempt its carbon pricing relief for all forms of home heating failed Monday in Parliament.

A US district judge dismissed a natural gas-fired power producer’s legal challenge to Washington state’s cap-and-trade programme, effectively closing the case following nearly a year of judicial proceedings, court documents showed Friday.

Your great grandfather and grandmother knew that age-old farming practices that had been handed down through generations, such as planting cover crops and using diverse crop rotations, resulted in healthy soils, resilient crops, and a sustainable farm business. What they didn’t know, or certainly weren’t as concerned about 100+ years ago, was how these sustainable practices are also critical in sequestering carbon from the atmosphere and making farms more resilient to the impacts of climate changes and extreme weather.

RGGI allowances (RGAs) broke a record settlement price for the benchmark contract over the previous week before receding slightly, as the Cost Containment Reserve (CCR) trigger continued to restrict prices and Pennsylvania's absence from the programme was confirmed.

A national dairy farmer cooperative received $22.9 mln for a project to cut down on methane emissions by implementing advanced feed additives in 50 operations, incorporating carbon credits sales into the product value chain, and demonstrating climate neutrality on dairy farms.

Nature-based standardised carbon credit prices suffered another hammer blow last week after certifier Verra suspended issuance and launched an investigation into another REDD project, although the news came too late to gauge the impact on the wider avoided deforestation sector.

The EU agriculture sector should be covered in an EU ETS-inspired market that rewards least polluting farmers, Denmark's climate and energy minister Lars Aagaard said in an interview.