Carbon Pulse

The US Department of Energy (DOE) announced Thursday that it would provide up to $500 million to support the nation's carbon capture and storage (CCS) transport system, as it continues to ramp up its support of the technology.

Five project developers have earned concessions worth a total of over 11 million hectares from a heavily forested Brazilian state as it continues efforts to develop its carbon market.

Canadian greenhouse gas emissions from energy, industry, agriculture, and waste sectors increased 1.3% year-on-year in 2022, although land use and forestry (LULUCF), excluded from the national totals, jumped 264% YoY.

A series of newly-developed methane abatement technologies can help cut emissions on ships by up to 80%, an industry initiative announced on Friday.

California Carbon Allowance (CCA) prices trickled lower through the week as traders said option strategies were driving wide day ranges, while Washington Carbon Allowances (WCA) rose on ongoing muted activity.

The German government has notified the European Commission that it intends to voluntarily cancel up to 12.25 million EU Allowances to counter the market impact from the 2022 closure of electricity generation capacities at two ETS installations in the country.

Executives at two carbon removals firms have called for urgent investment to ensure the nascent technology-based sector develops fast enough for corporations to meet net zero goals.

Credit quality is more dependent on the certifying carbon standard and methodology than whether it has been authorised for corresponding adjustments by a host country government under the Paris Agreement, according to speakers on a webinar.

Caledonian Climate has approximately 7,000 hectares collectively of peatland restoration projects in the pipeline with clients for 2024-25 in Scotland, many of which will probably be eligible for generating biodiversity credits, an executive has said.

California electricity sector emissions continued to fall to record lows in March, as renewables expanded their share of the state's energy supply, while natural gas again receded, data published Wednesday showed.

The high price of cleaner materials is threatening the economic viability of producing green steel in Europe, requiring far higher taxes or incentives to drive the shift from grey steel, or more imports of iron ore, according to research published on Thursday. 

A Chinese dairy giant has become the first company in the industry to release its nature-related information disclosure on risks and impacts based on the Taskforce on Nature-related Financial Disclosures (TNFD) guidelines, the firm announced Thursday.

Shell unveiled Thursday better than-expected profits of $7.7 billion in the first quarter, and announced it would buy back $3.5 bln worth of shares over the next three months, as it sought to ward off a showdown with investors over its Scope 3 emissions.

Controversy continues to surround the Rimba Raya Biodiversity Reserve project after Verra was unable to comment on a mismatch in the project boundary and forestry licence area, which was reportedly cited by the Indonesian government as a reason for cancelling the contract of the concession holder for the giant REDD+ project.

The UK’s lead negotiator on Article 6 carbon markets negotiations has said that key aspects of the negotiations have changed in the months since parties failed to reach an agreement last December at COP28 in Dubai.

US corporations Delta Air Lines and Chevron are among the companies purchasing low percentages of carbon credits associated with stronger biodiversity scores, according to a study that relies on a new metric.

Carbon capture technologies offered by foreign companies are prohibitively expensive, however, the use of domestic technologies can help Indian companies bring down the costs of decarbonisation drastically, an official told a webinar Thursday.

Investor interest in nature has ramped up in this year’s voting season, boosted by some of the first calls for standard-aligned biodiversity disclosures, with financiers hailing a surge in awareness despite more corporate resistance.

A European climate tech investor, specialising in decarbonising agriculture, has added 300,000 hectares of farmland in western and central Ukraine to its carbon programme, which will then be certified for voluntary soil-based credits from more sustainable practices.

European carbon prices jumped sharply on Thursday morning, following a leap in natural gas prices, as speculative traders were said to be further reducing their short positions in carbon after Wednesday's Commitment of Traders data showed investment funds had trimmed their overall bearish bets for a third week in a row.