Carbon Pulse

Divesting from fossil fuels could cost banks dearly as a result of model-based EU financial regulations that rely on backward-looking risk estimates, which are insensitive to ‘structural breaks’ like the clean energy transition, according to peer-reviewed research published Tuesday.

With EUA prices trading below €60 per tonne and benchmark European gas futures down by double-digits in the year to date, current market dynamics should incentivise some utility forward hedging, analysts have said, but any added compliance demand for carbon permits will be limited by the overall bearish fundamentals, widespread power sector decarbonisation, and the tough macroeconomic environment.

The glut of available credits in the voluntary carbon market started to grow again in March to leave the surplus close to 1 billion credits from across the big four standard bodies, according to Carbon Pulse VCM Portal data.

A project set to capture more than 900,000 tonnes of CO2 annually from an incinerator in northwest England has progressed further by agreeing a statement of principles with the UK government’s Department for Energy Security and Net Zero (DESNZ).

The Commonwealth of Nations is looking to help member countries implement a carbon tax based on a model law designed to make it easy to administer, ensure a just transition, and reduce the impact on low-income and vulnerable groups.

Swedish steel producer SSAB plans to turn one of its steel plants fossil-free, shaving an estimated 7% off the country’s CO2 emissions, the company announced on Tuesday.

European carbon prices tumbled by more than 4% on Tuesday morning as traders began to anticipate the publication of verified data for 2023, expected to show a sharp drop in emissions last year, while demand in the daily auction was among the weakest yet seen.

The Chilean government has presented the board of a national fund tasked with mobilising resources for the conservation and restoration of biodiversity, seeking to raise efforts on bridging the financial gap that hampers protected areas (PAs) preservation in the country.

The Biden-Harris administration has restored a series of rules for protecting threatened and endangered species and their habitats in the US under the Endangered Species Act (ESA), rolled back by the previous Trump administration.

A UK-based remote sending firm has partnered with a Japanese project developer with an eye to generating carbon units under the Joint Crediting Mechanism (JCM) and voluntary schemes, starting with a large rice project in Japan.

The road to net zero and clean energy will be long, but the chief of Australia's newly created Net Zero Authority believes the target is entirely achievable despite such a large chunk of the nation’s GDP made up of exports of fossil fuels, he said Tuesday.

One of the world’s first trials of a large amount of ammonia to be used in a coal-fired power plant began this week, and if successful could help pave the way to further decarbonisation.

China has given the green light to the country's first industrial-use nuclear energy steam supply project, which could significantly reduce the coal consumption and carbon emissions of a major Chinese economic hub.

Facilities covered under the Safeguard Mechanism have for the first time been asked to provide explanations for heavy reliance on Australian Carbon Credit Units (ACCUs) to meet their obligations, giving reasons ranging from unexpected production increases to limited carbon abatement technologies being available.

The New Zealand ETS saw a new volume record in the secondary market thanks to the surge in trading activity in the lead up to and aftermath of last month’s NZU auction, a broker told Carbon Pulse Tuesday.

A Japanese project developer has teamed up with a listed real estate company in the Philippines to promote a carbon removal project featuring rice husk biochar, as it seeks to continue expanding its presence in Asia's voluntary market.

A large tech company in Japan has partnered with a major financial group to drive nature positive actions aimed at conserving natural capital and biodiversity, they announced this week.

A voluntary carbon project developer has teamed up with a platform to develop an offset protocol to mitigate risks from orphaned and abandoned oil wells.

A range of investment funds opened accounts in California’s WCI-linked carbon market in Q1 according to state data published Friday.

Traders largely widened their net length across North American carbon markets, with a preference for longer dated vintages, according to data published Friday by the US Commodities Futures Trading Commission (CFTC).