Carbon Pulse

CO2 allowance prices in China’s carbon market remained stable over the past week, with a surge in the weekly trading volume as compliance demand continues to grow.

A Tokyo-listed financial firm has teamed up with a project developer with an increasing presence in Southeast Asia to pursue the creation of nature-based carbon credits.

A Paraguayan agricultural conglomerate has partnered with a multinational developer to launch a livestock farming project that participants claim will be the largest soil carbon initiative in Latin America.

Germany plans to ringfence an annual €1.1 billion to fund biodiversity conservation starting next year, a government official announced at the ongoing COP29 UN climate summit in Azerbaijan.

South Korea has proposed a ten-year roadmap for the creation of a carbon-free energy ecosystem, which the government said can bring an economic effect worth 59 trillion won ($42 billion).

It is Day 12 at COP29 in Baku - the final scheduled day in Baku. New texts on climate finance and Article 6, as well as other streams, are expected to drop from midday, though the state of play on the NCQG is that the goal appears to be in disarray. This in turn is threatening a previously-expected deal on carbon markets. Buckle up! In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (GMT+4).

California Carbon Allowances (CCA) futures and options activity on ICE ramped to record levels into the last quarterly permit sale of 2024 earlier this week, with sentiment recast lower after ARB delayed cap-and-trade updates to the new year, while lack of liquidity clouds hints of momentum in Washington Carbon Allowances (WCA).

Carbon dioxide removal (CDR) technologies that enhance nature-based CO2 absorption should be harnessed to unlock cheaper decarbonisation pathways in the US, a new report said.

A Toronto-based carbon credit project financier has named a commodities trading “expert” and activist investor as its new CEO.

A bipartisan US senate bill introduced on Thursday would establish a new tax credit to support the CO2 removal (CDR) industry beyond applications of the existing 45Q tax credit.

Oregon’s Environmental Quality Commission (EQC) on Thursday unanimously approved the proposed Climate Protection Program (CPP), effectively reinstating the GHG reduction scheme after it was invalidated last year.

There has been a “real change” in UK energy policy under the new Labour government, the director of a UK renewables advocacy told an industry conference on Monday.

Indonesian President Prabowo Subianto has pledged to phase out all of the country’s coal-fired and fossil fuel-based power plants over the next 15 years.

Norway will join a fund from the Asian Development Bank (ADB) that seeks to provide carbon finance to developing countries in Asia Pacific to support Article 6 projects, the country announced at COP29 on Wednesday, pledging $50 million to the effort.

The COP29 global climate summit enters its last day on Friday amid widespread frustration surrounding negotiations over a new global climate finance target, as a headline sum is yet to emerge.

Carbon pricing in the buildings sector can be fully offset, even for hardship cases where households face significant financial burdens from climate policy measures, according to research published on Wednesday.

The Integrity Council for the Voluntary Carbon Market’s (ICVCM) recent approval of three REDD+ methodologies paid special attention to the environmental and social safeguards of Indigenous and local communities, an ICVCM senior expert said Thursday.

Brazilian public prosecutors asked a federal court this week to suspend carbon credit concessions launched by the state of Amazonas, citing concerns around potential violations of Indigenous rights, according to a national media outlet.

Some 13% of companies that are offsetting their emissions are applying the resulting credits to 100% or more of their Scope 1, 2, and 3 emissions, according to a report released on Wednesday.