Carbon Pulse

Global development mechanisms like the Green Climate Fund (GCF) have become too easily dominated by multilateral financial organisations at the expense of the small and vulnerable nations they are designed to support, an academic paper has claimed.

The Shanghai government will auction off 1 million carbon allowances under its emissions trading scheme at the end of this month, with the price floor likely to be set below market levels.

EU nations' updated National Energy and Climate Plans (NECPs) are largely inadequate not only to align with the Paris Agreement's 1.5C global warming limit, but also to comply with the bloc's 2030 target to cut emissions by 55%, a coalition of NGOs warned on Tuesday.

Stronger policy support for carbon removals and capture, utilisation, and storage (CCUS) technologies is required to scale capacity to meet 2050 net zero goals, according to the International Energy Agency’s flagship energy report, which also forecasts peak fossil fuel demand this decade based on the current outlook.

Australia’s nature repair market bill will not be re-introduced to parliament until 2024 at the earliest, after the senate committee examining the legislation requested another extension to its reporting deadline.

A groundbreaking analysis, the first of its kind to globally count and map different tree leaf types, has revealed that needle-leaf evergreen trees make up the largest share of the world's tree population, but broadleaf evergreen trees contribute the most to fighting climate change.

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

Two speculative entities have filed appeals to the Washington Department of Ecology (ECY) after the agency prevented them from participating in past cap-and-invest auctions, a media outlet reported Monday, adding to the department’s growing legal challenges to its WCI-modelled carbon market.

Numerous obstacles are currently preventing US agriculture and forestry sector stakeholders from participating in the voluntary carbon market, though the federal government can take several steps to support the development of the space, according to a Department of Agriculture (USDA) report published Monday.

The Washington Department of Ecology (ECY) on Monday provided an overview of potential alterations to its cap-and-trade system it may request should the agency decide to link with the broader California-Quebec market, including revisions to auction purchase limits, offset eligibility, and electricity emissions reporting.

A treaty promising to plant 100 million native trees across southern and southeastern Brazil and create a self-regulatory carbon market, potentially with sectoral emissions limits, was signed by seven states at an annual meeting in Sao Paulo on Saturday.

RGGI Allowances (RGAs) climbed upwards following a period of market stagnation as the benchmark contract neared a record high, although market participants did not anticipate prices surpassing the impending Cost Containment Reserve (CCR) trigger level in the near term.

A centralised private sector biodiversity fund could help achieve global nature targets without the need to develop biodiversity credit mechanisms, according to a research group. 

Demand continued to diverge in the voluntary carbon market over the past week, with some corporates seeking cheap REDD avoided deforestation credits, while others eye ACR-certified units eligible for the first phase of the CORSIA international aviation offsetting scheme, which are expected to obtain corresponding adjustments.

*PREMIUM LISTING - In this challenging and rewarding role, the Senior Manager will be responsible for the development, implementation and oversight of accreditation standards that govern Verra’s programs. Building on the existing accreditation body and Verra oversight activities, the Accreditation Program Standards will form the complete set of Verra defined auditing, competency, training, and monitoring program requirements for validation/verification bodies (VVBs) who audit projects to Verra’s standards.

*PREMIUM LISTING - Verra seeks a leader for our forest management activities in the global north, particularly those related to afforestation, reforestation and revegetation, and improved forest management.

*PREMIUM LISTING - Verra seeks an experienced leader for our REDD+ technical innovation and engagement work.

The NBS Associate (Hydrology and Peatlands) will lead the technical development of an exciting peatland conservation and restoration project in Thailand and provide hydrological and other technical advice on other blue carbon and peatland projects across Southeast Asia. This mid to senior-level role reports to the Asia-Pacific Head of NBS.

The EU's first draft legislation defining a framework for certifying carbon removals is set to pass comfortably in Tuesday’s vote in the European Parliament’s cross-party environment committee, according to multiple sources close to the file, with lawmakers supportive of enabling a wide range of methods to be deployed.

European carbon prices dropped to a two-week low amid a continuation of last week's sell-off, as sources pointed to a lack of further escalation in the ongoing conflict in the Middle East and continental temperatures slightly above seasonal norms, as key bearish factors on Monday.