Carbon Pulse

European carbon fell on Monday morning, dropping to an eight-day low as demand appeared to be retreating amid growing expectations that fossil burn will remain weak even at the start of the winter demand season, while energy prices also retreated as North Sea gas supply improved.

Wetland conservation has the highest potential impact for mitigating climate change when compared with alternative ocean-based solutions, according to researchers at a British university, with the report proposing cost-per-tonne levels across different activities to ensure the protection of such ecosystems.

An alliance of more than 20 organisations and companies has urged the Australian government to design a national restoration plan with targets and funding mechanisms to turn the tide as the nation’s ecosystem degradation and decline continue at scale.

The UAE has offered to host the UN climate summit for a second consecutive year with Russia blocking Armenia and Azerbaijan's proposals for the 2024 event, according to media reports, as the Middle Eastern nation's state oil company doubles its carbon capture goal, and major oil and gas firms are said to have agreed at a summit in Abu Dhabi to rally around a 2050 net zero target.

Financial institutions should use more diversified approaches and metrics to ensure an adequate evaluation of transition finance for the hard-to-abate sectors, an expert group of major Japanese banks has argued.

The renewable energy subsidiary of Indonesian state oil company Pertamina over the weekend struck a "green economy" agreement with a provincial government that includes plans to identify and develop nature-based solutions (NBS) to generate carbon credits.

The government of Japan has established three working groups to promote its nationwide decarbonisation initiative, including a task force to discuss the eligibility of carbon credits, laying the foundation for the world's fifth-largest CO2 emitter to improve an emerging domestic carbon market.

New Zealand’s Ministry of Primary Industries (MPI) has defended its move to introduce annual fees per hectare of forest and a range of service charges in the ETS, arguing the funds accrued will be essential to maintain the integrity of the scheme.

The US Commodities Futures Trading Commission (CFTC) lacks the expertise to create standards for the voluntary carbon market (VCM), a member of the industry’s private sector governance body argued, while some experts were not convinced the Council’s upcoming Core Carbon Principles (CCP) labelled credits will be the silver bullet the sector anticipated.

Vietnam has taken further steps towards a more comprehensive voluntary carbon market as tech and real estate firm CT Group launched the ASEAN Carbon Credit Exchange Joint Stock Company (CCTPA) in southern business hub Ho Chi Minh City.

A group of Australian scientists have raised “serious concerns” that Australian Carbon Credit Units (ACCUs) generated from soil carbon projects could be overinflated and based on non-additional activities, urging  the Clean Energy Regulator to release its data on how it calculates its crediting.

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

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The Chilean government on Friday published regulations setting out the rules for utilising offsets against the country’s $5/tonne carbon tax, including restrictions on geography and expiry.

Fewer new financial players opened accounts in California’s WCI-linked cap-and-trade programme in Q3 than in previous quarters, while a slew of dairy digester owners exited the programme, according to state data published Friday.

Regulated parties picked up holdings of California Carbon Allowances (CCAs) and RGGI Allowances (RGAs) over the week as financial players moved in the opposite direction, while the roles were reversed in the third week of Washington Carbon Allowance (WCA) holdings being reported in US Commodities Futures Trading Commission (CFTC) data published Friday.

A working group convened by Pennsylvania Governor Josh Shapiro (D) released its final memorandum Friday detailing recommendations for cap-and-trade in the Keystone State, though the Commonwealth leader did not provide any information regarding his plans to implement the advice.

As the EU’s carbon border adjustment mechanism comes into effect on Oct. 1, exporters to the region are gearing up to measure their carbon impact and bracing for levies further down the line, with several jurisdictions already moving to ramp up the development of their own carbon pricing measures in a bid to minimise the economic impact of the policy.

The European Commission's proposed new climate and Green Deal commissioners are expected to face tough hearings before the European Parliament next week despite receiving backing from some quarters.

The US government on Friday detailed its previously announced plans to allocate up to $35 million to buy carbon dioxide removal (CDR) credits from several pathways as it attempts to help scale the industry and reach net zero GHG output.