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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 8 min ago
ICVCM names new CCO as McDonnell joins Australian insurance giant
The private sector-led Integrity Council for the Voluntary Carbon Market has named a new interim COO to succeed William McDonnell, who will join Insurance Australia Group as its new CFO.
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Euro Markets: Midday Update
EUAs retraced on Thursday after the prior session's gains, with energy prices also moving lower across the morning, as markets shrugged off reports that further LNG strikes at key Australian export terminals may lie ahead.
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EU Parliament backs new commissioners for climate, Green Deal
The full European Parliament approved on Thursday the designation of Wopke Hoekstra as commissioner for climate action and Maros Sefcovic’s new role as executive vice-president in charge of the Green Deal.
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Taiwan revises rules to expand emissions verification capacity
Taiwan has eased a set of management rules for greenhouse gas (GHG) inventories to expand its of third-party emissions accreditation and verification capacity, amid growing domestic concerns over the impact of EU's carbon border adjustment mechanism (CBAM).
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US outfit launches sheep grazing credits for vineyard systems
Regen Network has established an environmental stewardship credit class for sheep grazing on vineyards, with a first batch of units issued to an estate in California.
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Rating agencies downgrade India’s biggest carbon developer
Two ratings agencies in India have downgraded the country’s biggest carbon developer’s ratings after it recently filed losses for a second consecutive quarter.
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Emissions barely rose in first half of year despite tightly balanced clean energy sector -think tank
Global emissions rose 0.2% in the first half of the year despite higher solar and wind penetration thanks to drought conditions hampering hydropower generation and pushing more fossil fuel-generated power into the grid.
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Singaporean bank teams up with software company to offer customers carbon footprint measurement
A Singapore-based bank has partnered with a tech firm to develop a platform to aid smaller companies in more easily being able to measure their carbon footprints.
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International pension funds acquire Tasmanian forestry plantation
A group of pension funds announced Thursday an acquisition of a 170,000-hectare plantation forestry estate in Tasmania, Australia from a global forestry group.
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CP Daily: Wednesday October 4, 2023
A daily summary of our news plus bite-sized updates from around the world.
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Australia to rejoin Green Climate Fund
The Australian government has decided to rejoin the Green Climate Fund and will make a “modest” contribution toward it, which will be announced at the end of the year, an official told Carbon Pulse.
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Brazilian Senate committee passes ETS legislation following deal to exempt agriculture
A Brazil Senate committee on Wednesday by a unanimous vote approved cap-and-trade legislation supported by President Luiz Inacio Lula da Silva, and in the process incorporated a number of amendments to secure agricultural sector support and enshrine a timeline for compliance obligations to begin.
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UN report sees governments, NGOs urge ambitious climate action ahead of COP28 global stocktake
The UN Framework Convention on Climate Change (UNFCCC) secretariat on Wednesday published a new synthesis report as stakeholders called to accelerate climate action through submissions that spanned almost 800 pages ahead of the conclusion of the first-ever global stocktake at COP28.
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EU should speed up wind energy roll-out, strengthen renewables target to hit 1.5C goal, says NGO
A non-profit is urging the EU to more than double its yearly deployment of wind energy by 2030 in order to achieve the bloc’s 42.5% renewable energy target, while also advocating for the bloc to strengthen that goal to as much as 50% to better align with the Paris Agreement, according to a report released on Thursday that comes as the bloc is increasingly beset with issues that could hinder those ambitions.
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Washington state increases free allowance allocation to electric utilities through 2026
The Washington Department of Ecology (ECY) increased its yearly allocation of no-cost allowances to electrical utilities under the state’s cap-and-trade programme by as much as 23% through 2026, as seen in its revised mid-year figures released Tuesday.
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“Important milestone” achieved in development of energy-efficient DAC technology
Researchers have announced what they call an "important milestone" in the development of direct air capture (DAC) technology, operating their energy-efficient CO2 absorption system for 10,000 hours.
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WCI carbon market compliance instrument glut nears 400 mln in Q3
The surplus of allowances and offsets in the linked California-Quebec carbon market came closer to reaching 400 mln during the third quarter, while entities shifted more units into compliance accounts, according to data published Wednesday.
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Weather forecaster says RGGI region to experience milder winter
The Northeast US will face mild temperatures this winter, lessening heating demand in the RGGI cap-and-trade programme region, a weather forecasting service said Wednesday.
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Meeting US decarbonisation goals requires aggressive action across three domains – report
While the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA) set policy and funding precedence for US decarbonisation, additional measures are necessary across three domains to cut GHG emissions by more than 40% by 2030 and nearly 90% by 2050 relative to 2005 levels, a report said Wednesday.
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Polish energy minister backs carbon removals inclusion in EU ETS before 2030
Poland’s deputy energy minister said Wednesday that his country would support including carbon removals in the EU ETS before 2030 while a campaign group opposed such a move, while the minister kept his cards close to his chest when pressed on coal phaseout details.
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