Carbon Pulse

Third quarter emissions under the Massachusetts Global Warming Solutions Act (GWSA) maintained a trend of historic lows shown throughout the year so far, according to data updated this week.

The meeting of a body guiding the Paris Agreement’s carbon crediting mechanism ran late into the night on Thursday as experts wrangled over issues including whether to exempt some activities from being forced to ratchet up their ambition over time.

California Carbon Allowance (CCA) values once again reached a new all-time high, sustaining peak prices following last week's cap-and-trade workshop announcement, while Washington Carbon Allowances (WCAs) maintained an upward trajectory until Thursday's linkage decision with the broader WCI market.

The suspended Kariba REDD project is financially stable for at least 12 months, according to the founder of Carbon Green Investments (CGI), the organisation that developed and runs the huge Zimbabwean avoided deforestation project, while stating that allegations of financial malpractice and illegal activities are groundless. 

The US EPA approvals process for state primacy over carbon capture utilisation and storage (CCUS) as well as direct air capture (DAC) are preventing their installation, potentially condemning fossil fuel power plants, US Senators told a committee hearing on Thursday.

EU ETS emissions from heavy industry are set to fall 7% in 2023 compared to a year earlier due to waning output particularly among steel and chemicals firms, analysis said in a report on Thursday that represented a substantial writing down of expectations set out earlier in the year.

The Voluntary Carbon Markets Integrity Initiative (VCMI) should focus on simplifying its integrity guidance for carbon credit buyers if the stakeholder initiative wants to drive demand, an offtake investor told a webinar conference on Thursday.

The director of the Washington Department of Ecology (ECY) Laura Watson announced the agency's preliminary decision to pursue linking its cap-and-trade regulation with the broader WCI market on Thursday.

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A Berlin-based venture capital firm has released its approach to assessing biodiversity impact, although there are gaps in the methodology with some major drivers of biodiversity loss not addressed.

A trio of Republican senators will introduce legislation Thursday to implement a carbon adjustment fee on imported products that result in heavy GHG pollution, a move sponsors say targets countries without comparable environmental standards, particularly China.

Taxes and levies on fossil fuel production, shipping, and aviation will be an important alternative source of income for a global climate-related loss and damage fund, in addition to developed country government donations to developing nations facing the worst impacts, said a spokesperson for a legal non-profit ahead of a crunch meeting to set up the UN vehicle.

An ongoing carbon pricing instrument review in Malaysia is expected to be completed by next year, and will help the government choose between establishing a carbon tax or an emissions trading system to accelerate decarbonisation, local media reported Thursday.

European carbon prices plunged to a ten-month low on Thursday morning amid renewed and aggressive selling and despite a strong auction result, as the market appears to be taking on board the scale of bearish fundamentals, while energy prices also fell back for the fourth time in the last five days.

Finnish firm Kuva Space has raised €16.6 million ($17.6 mln) towards its goal of observing the condition of “any material” on the planet through launching 100 satellites by 2030.

A system-wide revamp is needed to ensure high-integrity and equitable outcomes from nature markets, according to the CEO of a new project development firm looking at both carbon and biodiversity credits.

An Australian university is developing a centralised portal to better fill in knowledge gaps around bee data across underreported jurisdictions like Asia and Africa, a move expected to aid in data collection and conservation efforts.

China has loosened the CO2 permit borrowing rules for regulated companies in its national emissions trading scheme, according to sources who have seen a new regulatory update distributed to power companies, as the government seeks to mitigate cost increases for power plants ahead of the year-end compliance deadline.

Asia’s emissions footprint from food is high but variable nation-by-nation, however decarbonising it could be easier than in more complex industries such as aviation.

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