Carbon Pulse

A deal has been struck between an oil and gas firm and France's gas transmission operator to develop CO2 transport and storage infrastructure in the country with potential capacity of over 5 million tonnes per year.

China saw its domestic thermal power generation decline last month, while hydro and solar power production continued to post strong annual growth amid increasingly optimistic expectations about the country's decarbonisation path.

Singapore-based Shell subsidiary Shell Eastern has acquired Pavilion Energy, including its LNG and carbon trading business, the companies announced Tuesday.

An industry collaboration has submitted an idea to develop a methodology to generate Australian Carbon Credit Units (ACCUs) from biochar creation, aiming for a design as scalable and flexible as possible.

Recent public workshops and literature published by California regulator ARB demonstrate significant uncertainty in the price pathway forward for the state’s cap-and-trade scheme, while legislative developments could also complicate programme extension, the state’s carbon market watchdog said Monday.

A native forest restoration firm announced on Tuesday that it had sold the first carbon credits generated from its global accelerator.

Market participants expressed trepidation over the possibility of a dive in RGGI Allowance (RGA) values after prices retreated from their peaks at the end of the week.

A report published Monday by a US-based nonprofit found that obligating the electricity sector and including facility-specific caps under New York's future cap-and-invest programme (NYCI) - which is set to exclude the use of offsets - would help to reduce leakage and protect disadvantaged communities (DACs) from the adverse effects of greenhouse gas (GHG) emissions.

Most EU leaders expressed their support for the 90% greenhouse gas emissions reduction target by 2030 put forward by the European Commission earlier this year during an Environment Council on Monday.

Light trading volumes and a slide in carbon credit retirements continued to sap confidence in the voluntary market last week, even before the usual slowdown over the summer holiday season has started.

A group of voluntary carbon market entities have launched a coalition Monday to lobby for forestry credits as part of proposed EU removals law.

New EU reporting requirements for imports of certain goods could soon fuel a small, nascent voluntary trading market for one potent climate-warming pollutant — methane — and help to clamp down on its emissions.

Stalled talks on a new goal for global climate finance marred tentative progress made on Article 6 negotiations at the mid-year UN climate summit in Bonn last week, which also saw the historic December agreement made by countries to transition away from fossil fuels pushed into the background, observers said.

The EU’s 27 environment ministers reached a common position on the EU’s Green Claims Directive on Monday, introducing a new definition for climate-related claims that distinguishes between “contributions” to greenhouse gas reduction efforts and those relying on carbon “offsets” such as reforestation projects.

The G7 summit closed on Saturday without any significant progress on climate and energy, leaving ambitions unchanged from resolutions adopted at previous meetings.

Biodiversity is among the biggest concerns for companies grappling with corporate disclosures, with a quarter of them lacking confidence in their ability to meet the requirements set out by the EU's Corporate Sustainability Reporting Directive (CSRD), a PwC survey has revealed.

Establishing a voluntary market-based scheme that allows countries to trade ocean conservation credits could reduce the costs of marine protection by up to 98%, incentivising governments to achieve their biodiversity targets, a paper has said.

With the June options contract expiry just two days away, European carbon prices appeared to find a level with sellers' efforts to drive prices lower running in to more robust buying interest, leaving EUAs lagging behind a steeper drop in natural gas and confirming that the correlation between the two has temporarily been broken.

EU environment ministers agreed on Monday to green-light a regulation that aims to restore natural habitats, ending a year-long legislative back-and-forth in what campaigners hailed as an "historic step" in the fight against the biodiversity and climate crises.

China and Australia have signed an updated Memorandum of Understanding (MoU) to cooperate more closely on climate change and energy, the two countries announced Monday.