Carbon Pulse
News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 11 min ago
CP Daily: Monday October 30, 2023
A daily summary of our news plus bite-sized updates from around the world.
Categories: Around The Web
Government regulation is most important driver of energy transition for businesses, report finds
Most businesses around the world say government regulation is the most important driver when it comes to accelerating their own transition to cleaner energy, outweighing the impact of pressure from consumers and investors, according to a report released Tuesday.
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Market steps into the unknown to supply adjusted CORSIA-eligible units
Demand for credits eligible for the first full phase of the CORSIA is building ahead of the aviation offset scheme's transition next year, but market participants are questioning whether supply of the required correspondingly-adjusted credits will be available, a conference heard on Monday.
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Researchers propose new pricing approach to restore faith in voluntary carbon markets
Researchers have unveiled a new approach to valuing carbon credits that they say brings much-needed transparency, accountability, and comparability to the global voluntary carbon markets, specifically nature-based projects.
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VCM Report: Early October enthusiasm for carbon credits fades after Kariba bad press
Activity in the voluntary carbon market dried up over the past last week compared to the flourish seen at the start of the fourth quarter, with confidence knocked by another dose of negative press about the troubled Kariba REDD project in Zimbabwe.
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Canadian hydrogen from natural gas labelled as CO2-free gets $10 mln for South Korea’s net zero goal
A Canadian hydrogen company announced Monday that it has secured $10 million in funding to develop a supply chain of CO2-free hydrogen and ammonia from natural gas for South Korea to meet its net zero ambitions, in partnership with a Korean energy company.
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Cookstove manufacturer issues green bonds to fund carbon project expansion
A project developer and manufacturer has issued sub-Saharan Africa’s first-ever green bond designated for the cookstove market to help fund its expansion amid the depressed market for carbon credits.
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A month out from COP28, efforts to get a global deal to phase out fossil fuels gain momentum
Fresh impetus to get a global commitment to phase out fossil fuels is emerging among some of the ministers and state representatives currently gathered in Abu Dhabi for preparatory meetings a month ahead of the COP28 UN climate conference in Dubai.
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RGGI Market: RGAs inch past all-time highs on nearly three-month low volumes
RGGI allowances (RGAs) crossed a record settlement price during the week, despite relative sluggishness in the market and concerns over the availability of renewable energy sources moving forward, as participants continue to await programme updates.
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Industrial technology firm’s partnership with direct air capture company to utilise renewable power
A low-carbon cement and lime technology developer announced a collaboration with a direct air capture (DAC) company to utilise electric kilns running on renewable electricity at future DAC plants for CO2 mitigation.
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Faltering UK carbon price could mean billions in export tax bills, lost treasury revenues -report
The UK's faltering carbon price could result in the loss of billions in treasury revenues and may expose British companies to large tax bills for exporting to the EU, warns a new report.
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Euro Markets: Midday Update
European carbon prices snapped a two-week losing streak on Monday morning, tracking early sharp rises in energy markets amid an unscheduled drop in North Sea gas supplies, forecasts for slightly cooler weather and outages at two French nuclear plants.
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Kazakhstan becomes latest nation to sign up to Japan’s JCM
Kazakhstan on Monday became Japan’s 28th partner country under the Joint Crediting Mechanism (JCM), through which Tokyo hopes to generate 50-100 million carbon credits by the end of the decade.
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Finland’s last coal plant to be used in country’s emergency power reserve
Finland’s emergency power reserve agency signed an agreement with energy company Fortum to use the firm's coal-fired plant in case of severe supply power disruption for two years from March 2024, Fortum said in a statement on Monday.
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Senior Advisor Integrated Carbon Planning, Rio Tinto – Perth/Brisbane
Reporting to Manager – Carbon Planning, Rio Tinto is looking for a highly organised, detail-oriented analyst to join the DO team as a Senior Advisor - Integrated Carbon Planning.
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Carbon General Manager, LRX Group – Melbourne
This role will be critical in developing a portfolio of carbon projects across Australia.
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Japan to pilot digital J-Credit verification, issuances
A tech firm will in November launch a demonstration project to digitalise the process of verifying and issuing units under the J-Credit scheme, as the government seeks to make the process quicker and easier for market participants.
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Australian banks’ lending practices contributing to the destruction of nature, report finds
The lending habits of Australia’s banks are contributing to the destruction of nature, particularly in high-impact sectors such as agriculture, property, energy, and resources, according to a report released Monday.
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Economy-wide carbon price seen as the best way to hit Australian emissions goals -survey
Australia’s best way to reach the emissions reductions goal it set last year after Labor won its first election in several cycles would be via the one thing the government has sworn against – an economy-wide cap-and-trade scheme – according to a survey of economists.
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Malaysia threatens repercussions as state reveals plan to remove forest protections
Malaysia’s federal government on Saturday said it would end biodiversity-related payments to Kelantan if the state goes through with its plans to remove protections for vast areas of rainforest.
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