Carbon Pulse

A German-Brazilian startup focused on enhanced rock weathering (ERW) in tropical regions has successfully raised €5.6 million in an oversubscribed funding rounds, led by prominent impact, climate, and tech investors.

The Americas Partnership Fund for Nature will receive an initial $10 million from the US government, the White House said last week before launching the financing vehicle officially via a fact sheet Friday.

The Norwegian government on Friday set out a 2024 budget proposal that would carve out $270 million for it to spend on carbon units to help meet its EU climate policy obligations.

With the voluntary carbon market at a "crossroads", a plethora of countries developing new carbon pricing systems, and mature compliance mechanisms such as the EU ETS expected to require removals integration further down the line, the need to connect these different emerging and established schemes is more apparent than ever, according to observers at a high-level industry event this week, with most routes for doing so leading towards Article 6 of the UN Paris Agreement.

The UK government’s climate policies rely on carbon removals but don’t sufficiently take into account the uncertainties involved in developing and scaling up the technologies, and this is distorting decision making, according to new academic research.

Oil and gas companies will be obliged to meet their share of an EU target of 50 million tonnes of annual operational CO2 injection capacity by 2030, according to a new compromise text that the Spanish presidency has circulated to EU member states ahead of a working group meeting on Monday.

The noise around efforts to tackle plastic pollution has risen to a fever pitch, a week before the negotiations for a global treaty to address the issue are due to begin.

EUA prices fell back along with energy markets on Friday morning as the weakening trend in carbon reasserted itself, though technical analysts suggested the market may be poised for a rally.

A “harmonious coexistence” between nature, chemicals, and people has been targeted by a major chemicals and cosmetics corporation.

Terraformation, a global forestry company led by former Reddit CEO Yishan Wong, has announced the advancement of the first cohort of its Seed to Carbon Forest Accelerator to the second phase of the programme.

A series of studies released by the US arm of the Forest Stewardship Council (FSC-US) show that forests certified by the international non-profit in North America hold more carbon compared to commonly managed forests.

South Pole chief executive Renat Heuberger is stepping down from his position with immediate effect after losing the support of the board of the company in the wake of last month’s suspension by certifier Verra of the Kariba REDD project in Zimbabwe, the company said on Friday.

The spot price in China’s national emissions trading scheme (ETS) extended recent losses over the past week amid sustained liquidity, while the domestic offset market saw improved trading volumes despite unclear supply outlook.

Prime Minister Anthony Albanese has announced a pact with low-lying Pacific Island nation Tuvalu to allow residents facing worsening climate change impacts the option to resettle in Australia.

A British international bank may enter carbon markets via bonds next year, but in Indonesia the scale of the market must match the bank’s large-scale appetite for investment, a conference heard this week.

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

Norway and Senegal on Thursday signed a Memorandum of Understanding (MoU) to cooperate under Article 6 of the Paris Agreement, the second such deal the Scandinavian country signs in just two weeks.

Canadian oil sands producers accept the need for a cap on oil and gas emissions, if done appropriately, which could also drive further investment into carbon-cutting technologies, attendees at a climate conference heard Thursday.

The livestock industry is championing a new metric for estimating its climate impact that allows it to minimise reported emissions while putting poorer nations at a disadvantage, according to a sustainability campaign organisation that is urging a different approach as the sector comes increasingly into focus.

Implementing a federal cap-and-trade policy in the US would complement the Inflation Reduction Act and help reduce both air pollution and retail electricity prices, ensuring the country reaches its climate goals for 2030.