Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 1 hour 17 min ago
Researchers uncover methodological failures in REDD+ projects, leading to widespread over-crediting
Four of the most popular forest protection offset methodologies give excessive flexibility and discretionary space to project developers, resulting in exaggerated climate impacts and overestimation of carbon credits issued, a policy watchdog detailed in a summary report of academic research released Friday.
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WCI Markets: CCAs reach new record high settlements in thin trade, WCAs inch up on stronger volumes
California Carbon Allowance (CCA) and Washington Carbon Allowance (WCA) prices both increased this week despite volume going in opposite directions, while traders said regulatory drivers in the former market and heightened permit demand in the latter were behind the gains.
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LCFS Market: California prices cool as slow rulemaking timeline stunts rally
California Low Carbon Fuel Standard (LCFS) values dipped on Thursday afternoon to more than reverse a brief early-week rally, as traders said state regulator ARB’s extended timeline for implementing more ambitious carbon intensity (CI) reduction targets will come under pressure from the programme’s exploding surplus bank.
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Global investment firm announces close of $1 billion climate venture fund
A global investment firm on Thursday announced the closing of one of the largest climate-focused funds to date, and will target investments in early- and growth-stage startups that drive timely decarbonisation.
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Do not disturb: Non-profit unveils breakthrough radar system for real-time global forest monitoring
A non-profit forest carbon measurement firm has launched a global radar-based alert system to detect tree-related disturbances, offering real-time information from forest in every biome worldwide.
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France invites offers for carbon credits to cover climate impact of Rugby World Cup
Rugby World Cup 2023 host France has launched a tender seeking offers for carbon credits to compensate for the emissions resulting from the ongoing tournament.
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Investment in carbon market projects to slump after bonanza since 2021 -analysts
Investment in the voluntary carbon market will tumble sharply in the next two years after a surge of money flooded in over the last two-and-a-half years when carbon credits prices hit a peak, according to research published on Thursday.
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Climate change is undermining sustainability goals, says UN
Lack of progress towards climate goals is undermining global efforts to tackle hunger, poverty, ill health, access to clean water and energy, and many other aspects of sustainable development, according to a UN report released Thursday.
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City of London targets marine biodiversity in centre for nature finance ambition
The City of London Corporation has called for the UK to include marine biodiversity in its nature credits market as a “matter of urgency” as part of its ambition for the country to become a global nature finance centre, it has said.
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Research into geoengineering needed to potentially ‘’ease the pain’’ of climate change for future generations, says commission
A moratorium should be placed on the highly controversial practice of geoengineering to control climate change, while allowing for ongoing research into the possibilities of using solar radiation management given the magnitude of the problem and the need to prepare the ground for future generations, an expert body concluded in a report published Thursday.
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New York summit to offer opportunity to “hold feet to the fire” on climate finance, though undermined by absentees
Next week's summit, organised by UN secretary-general Antonio Guterres in New York, will provide an opportunity to hold the rich world to account for their poor record on climate finance and set the tone for core topics of discussion at COP28 in Dubai at the end of the year, a webinar heard Thursday.
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Brazilian fintech company looks to raise $60 mln for second carbon credit fund -media
A Brazilian fintech firm is aiming to raise R$300 million ($61 mln) for a second carbon credit-focused fund after the success of its first offering and hopes to benefit from the proposed emissions trading scheme in the country, a local media outlet reported Wednesday.
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Removals market to hit $135 bln in 2040 if credits fall to $150/t, forecasts consultancy
The durable carbon dioxide removal (CDR) market could grow to $135 billion by 2040 if the price of units can fall to $150 per tonne, according to projections made in a report this week from one of the world's largest consultancy firms.
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UN body hails “quantum leap” in carbon mechanism discussions, but leaves methodologies guidance to go to the wire
The UN body responsible for guiding the Paris Agreement's carbon crediting mechanism made significant progress at this week's penultimate meeting, with observers noting they had never seen such consensus among the group, but ultimately failed to adopt final texts on methodological guidance after running out of time, leaving crunch discussions for the final meeting later this year.
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Over half of leading corporates on climate action headquartered in Europe, report finds
A study compiling the best companies in terms of their climate leadership has found that 16 of the 27 highest performing firms are based in Europe, while those involved in the fossil fuel industry still failing to prioritise action.
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Orsted urges renewable energy developers to set net-positive biodiversity strategies
The largest offshore wind developer in the world on Thursday called on all renewable energy developers to set net-positive biodiversity targets when developing projects.
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EU lawmakers seek to bolster consumer rights in bloc’s power market reform
The European Parliament gave the green light to start negotiations with member states on a bill to regulate the EU's rapidly-decarbonising electricity market, during a plenary session on Thursday in Strasbourg.
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EU lawmakers adopt position on critical raw materials act
The EU's Critical Raw Materials Act will accelerate the path towards the bloc's resource sovereignty and competitiveness, according to members of the European Parliament on Thursday after voting on a united position to take forward into negotiations with member states on a bill designed to reduce the bloc’s dependency on imports of the raw materials indispensable for clean technology.
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Euro Markets: Midday Update
European carbon prices extended their rally on Thursday amid a short squeeze that began after the previous session's weekly Commitment of Traders report, before consolidating their gains amid a drop in natural gas, as traders speculated whether short-term fundamentals are sufficiently bearish to justify the recent decline, and how long the current rally would last.
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Biodiversity Pulse Weekly: Thursday September 14, 2023
A 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).
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