Carbon Pulse

Iceland has agreed to buy 3.4 million sovereign carbon units from Slovakia in order to fulfil its legally-binding obligations under the Kyoto Protocol’s second commitment period (2013-20).

A report published Wednesday has set out 12 guidelines for policymakers to ensure that the scramble to scale carbon removals technologies such as direct air capture does not slow down much-needed emissions reductions.

A group of five companies and organisations has launched an accelerator to attract investment in high-quality biodiversity projects across Africa, with a first call for proposals open until late next month.

One of China's leading tech firms has agreed to buy salt marsh-based carbon credits under a regional scheme, the first of its kind in the country, amid rising interest among domestic developers in the emerging blue carbon market.

Ammonia is likely to become a favoured method of transporting hydrogen, and export and import capacity to move it around will grow exponentially in coming decades, according to a report released Wednesday.

The climate envoy of the United Arab Emirates this week concluded an official visit to Japan ahead of COP 28 in November, as the two countries aim to strengthen their partnership on energy security and climate finance.

The world's first Shariah-compliant voluntary carbon market opened trading this week, attracting large players but modest volumes.

The expected gap of NZU supply versus demand is expected to grow wider and sooner than previously predicted, before contracting, according to new figures from New Zealand’s Ministry for Environment.

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

An initiative backed by 170 food and beverage companies and farmer cooperatives worldwide on Wednesday committed to a new framework for regenerative agricultural practices that they said will improve soil health, support biodiversity, and mitigate and adapt to the impacts of climate change.

Three offset standards have once again sought eligibility to supply units eligible for the next phase of UN body ICAO’s global aviation offsetting scheme CORSIA, according to documents published Tuesday.

RGGI Allowance (RGA) prices vaulted above the 2023 Cost Containment Reserve (CCR) trigger price on Tuesday afternoon and set a new all-time high in the process, following officials from the power sector cap-and-trade programme discussing the finer points of recent modelling to tighten the scheme.

After marathon deliberations, a Colorado regulatory body approved rulemaking late Friday for a market-based programme with facility-specific emission reductions from large in-state manufacturers, adopting amendments from business leaders and a longer lead time for the regulations to take effect.

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Accounting rules are important, but, in a system where the fossil fuel industry is receiving a $7 trillion annual subsidy without any accounting rules whatsoever, fixing small historical inaccuracies and solving for complexity in what is now a micro-industry of REDD+ is far more constructive than ripping down the whole notion of environmental markets, writes Charles Bedford of Carbon Growth Partners.

The central bank of Singapore and a leading consulting firm jointly released a working paper on Tuesday that proposed a new asset class of carbon credits to accelerate the early retirement of coal-fired power plants (CFPPs).

A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).

EU electricity market design reforms (EMR) will only see the light of day if member states, namely France and Germany, find compromise and let go of currently unsustainable practices, according to experts calling for a quick resolution to deadlocked negotiations amid signs that tensions are easing between the two largest economies in the bloc.

A sharp drop in forecast emissions in the EU ETS out to 2030 compared to pre-Covid forecasts, together with the expected additional supply of allowances to be released under the REPowerEU policy, has led a large bank to slash its EUA price forecast by 11% for 2023, with larger reductions in its predictions in subsequent years out to 2027.