Carbon Pulse

A tech company inked a deal with the Democratic Republic of the Congo (DRC) on Monday to invest $40 million in the measurement and valuation of the country's natural assets for potential carbon and biodiversity crediting.

Demand for Australian Carbon Credit Units (ACCUs) is likely to rise as more sectors of Australia’s economy are subject to decarbonisation policies, market observers told a panel discussion at COP28 in Dubai.

A clash over carbon removals at COP28 is threatening to stall progress on developing the UN crediting mechanism, as some country negotiators wish to reopen talks over a key set of recommendations agreed ahead of the summit, which would could see a year of work "wasted", according to multiple sources.

Climate events such as the annual UN summit are moving rapidly towards becoming a place to debate issues with international trade negotiations, a banker told a panel discussion at COP28.

Heavy dependence on carbon capture and storage (CCS) would be “hugely economically damaging”, costing nations globally around $1 trillion per year compared to an approach more strongly focused on renewable energy, a new report has found.

The government of South Korea should introduce more measures to improve the efficiency of the domestic emissions trading scheme (ETS), engaging more investors to participate in the market by setting a reference price, a panel heard Monday.

An international initiative is seeking to replicate Australia’s successful savanna burning methodology to African nations and use the projects to generate Article 6 carbon credits, a COP28 side event heard Monday.

Switzerland's international carbon trade project in Vanuatu has a lock-in price that is too low, officials from the Pacific Island nation told Carbon Pulse on the sidelines of COP28, though the host country remains optimistic about its involvement with Article 6.

The Southeast Asian nation of Timor-Leste is preparing regulations and a national registry to govern voluntary carbon market projects in the country in preparation to eventually host Article 6 projects within its borders, an official told a panel discussion at COP28.

EUAs weakened steadily on Monday morning as they came under renewed selling pressure after Friday's rally, while gas prices fell back amid milder weather forecasts and observers predicted that carbon prices appeared likely to remain under pressure for at least another week.

Bhutan launched its national carbon registry at COP28 on Monday, also integrating itself with the Climate Action Data (CAD) Trust, the first country to do so.

Australia’s current carbon prices via its Safeguard Mechanism are not sufficiently high to drive down the price of hydrogen, but that may be about to change, a report said Monday.

Several international organisations including the Science Based Targets initiative (SBTi), the VCMI, and the ICVCM came together to establish an 'end-to-end' integrity framework that they say provides consistent guidance on decarbonisation including the use of carbon credits for residual emissions, as announced at COP28 on Monday.

New analysis published by climate finance experts on Monday called for all countries to commit to a substantial rise in investment to deliver the goals of the Paris Agreement.

Indigenous Peoples and local communities need to be at the heart of developing an effective and equitable biodiversity market due to the key role they play as stewards of biodiversity-rich land, while the introduction of a credit price floor could help ensure an equitable approach here, said speakers from the International Advisory Panel on Biodiversity Credits at COP28 today.

The Coal to Clean Credit Initiative (CCCI) signed Monday an agreement for the early phaseout of a Filipino coal plant, and is working with the COP28 presidency to garner buying interest in the resulting carbon credits issued from its draft methodology, which it says will be eligible for transaction under the Paris Agreement.

It's Day 5 of COP28, and climate finance is the catchphrase of the day – although tensions on 1.5C and the fossil fuel phaseout are bubbling. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (Gulf Standard Time, GMT+4).

Six of the major independent carbon crediting standards have announced on Monday at COP28 their intent to work together on common principles for the quantification and accounting of removals and emissions reductions, as they each seek assessment under the ICVCM's Core Carbon Principles (CCPs).

The federal Australian government has announced an advisory group to encourage business to invest in nature repair, it announced Monday, as it looks to pass its Nature Repair Market (NRM) legislation in parliament this week.

It's Sunday night in Dubai and - you guessed it - today was another news-packed day at COP28. Without further ado, here's what Carbon Pulse's 11 reporters currently on the ground in the UAE were writing about during the summit's fourth day.