Carbon Pulse

European carbon prices were modestly higher on Tuesday morning as sellers took a break after Monday's big drop, stepping back from the market ahead of the fortnightly break in the auction programme on Wednesday, while energy markets also rallied.

A Danish energy developer and a Copenhagen-headquartered nature conservation organisation have teamed up to bolster the protection and restoration of local biodiversity through ensuring that new renewable energy projects will positively impact nature.

Senior members of the UAE, Azerbaijan, and Brazil governments, the hosts of the three UN COP summits between 2023 and 2025, outlined the focus of a recently announced 'troika' partnership at an IEA event on Tuesday, as the agency also revealed plans to raise cash later this year to solve clean cooking in Africa "for once and for ever" as well as a new climate pledge-tracking mechanism.

The UK government’s climate action plan will come under fire in the High Court this week, in a case brought by three NGOs arguing that it is in breach of the country’s legally binding target for net zero emissions by 2050.

Limited resources, inadequate policies, and governance issues are preventing the market under Article 6 of the Paris Agreement to gain foothold in South Asia, a study released this week found.

Carbon capture, utilisation and storage (CCUS) and nature-based solutions are highlighted as two sectors in dire need of greater investment to achieve the UK’s net zero target, says a new report, which recommends how the public and private sectors can work together to catalyse higher levels of green finance.

A study on 10 of Australia’s most-prominent companies has found their net zero plans are lagging behind international best practice and largely lack scientific rigour.

A Verra-registered REDD+ project in southern Cambodia has been using inflated baselines stemming from the source of its reference data, leading to over-crediting, according to a report released by a US-based carbon offset ratings agency.

EU co-legislators struck a deal on the EU’s first carbon removal legislation in the early hours of Tuesday morning, in which it maintained distinct definitions for permanent and impermanent carbon activities and aims to set up a bloc-wide registry for units generated under the framework by 2028.

The Australian government’s Clean Energy Regulator (CER) has said it will look to align processes in the newly-established Nature Repair Market with the country's carbon market, as one of the key bodies overseeing the scheme. 

California regulator ARB’s announcement to postpone a hearing and vote regarding amendments to its Low Carbon Fuel Standard (LCFS) saw a short-lived market rally, as market observers anticipate significant changes to the proposed amendments, which were criticised by industry, environmental groups, and market participants alike.

The government of Cote d'Ivoire has signed a landmark agreement with an investor consortium for forest rehabilitation, which will generate carbon credits through agroforestry.

South Africa’s Presidential Climate Commission said the energy ministry’s electricity plan fails to adequately address the country's power supply crisis and to ensure that emissions fall in line with international climate commitments.

More than 60 chief executives of European heavy industries are expected to meet at a chemical plant in Antwerp on Tuesday for a hush-hush summit that will issue a declaration for a European Industrial Green Deal.

A London-based investor has partnered with a British-American insurance company to start a biodiversity credit fund in the wake of England's net gain (BNG) policy coming into force, Bloomberg reports.

Prices barely moved last week and trade thinned to curtail some early exuberance of a revival of the voluntary carbon market this year after a trough in the second half of 2023, although retirement levels remained healthy.

The Indian government has set up a taskforce to accelerate the country’s transition away from fossil fuels in order to deliver on the first global stocktake agreed by nations at the UN climate summit COP28 in Dubai last year.

European Commission President Ursula von der Leyen's bid for a second term could help to protect, and implement, the European Green Deal that she spearheaded, following elections that are heavily favoured towards the political right and against ambitious climate action.

A major investment manager has pledged to target companies failing to disclose their impacts on biodiversity with nature-related reputational and business risks poised to affect its portfolio.

Bids under the European Commission’s pilot auction for renewable hydrogen production have far exceeded the €800 million budget, demonstrating enthusiasm to scale up the nascent industry, the Commission said on Monday.