Carbon Pulse

As the the inaugural Africa Climate Summit in Nairobi continues this week many countries and companies have announced pledges and partnerships with African stakeholders as they look to close the climate finance gap in the region and aid the continent's efforts to establish itself as a green energy and carbon markets hub.

There are systemic flaws pertaining to nature-based offset projects in the voluntary carbon market (VCM), a European environmental advocacy group outlined in a report on Wednesday, while offering several recommendations to ensure and improve climate integrity in the sector going forward.

The Clean Energy Regulator has issued almost 1.4 million Australian Carbon Credit Units (ACCUs) for a second consecutive week as one developer received more than 500,000, while the spot price for generic units has crept below A$29.

Shenzhen, a major city in southern China, is set to auction off the country's first batch of mangrove-based offsets verified under a local scheme in late September amid growing domestic interest in blue carbon.

Australia has put ANU professor Frank Jotzo in charge of a federal review into ‘carbon leakage’ with a view to furthering a carbon border adjustment mechanism that would add a tax to imports of steel and cement.

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

New Zealand’s quarterly carbon auction failed for a third straight time on Wednesday, as the sale again did not clear above the government’s confidential minimum price.

The European Green Deal is keeping the 27-nation EU bloc competitive in the global race towards zero-carbon technologies, according to a think-tank report published on Wednesday.

A carbon ratings agency has proposed a methodology for risk-adjusting carbon credits to help corporates make credible net zero claims, based on its assessment of the quality of projects that have been issued units in the voluntary carbon market (VCM).

A German climate startup has launched a new subscription platform and ditched brokerage fees in an effort to support developers of nature-based carbon credit projects, it said Wednesday.

Market participants believe the September RGGI auction clearing price will jump compared to recent sales and may even flirt with an all-time high, though uncertainty remains as to whether the sale will come in at a slim or moderate discount to the secondary market allowance price.

A Toronto-based carbon credit financier has significantly cut executive headcount, subleased office space, and taken further steps to reduce general and administrative expenses and save millions annually, it announced Tuesday.

Brazilian state-owned oil company Petrobras on Tuesday announced its first purchase of carbon credits to fund the preservation of the Amazon rainforest.

The European Commission’s strategy to capture, utilise and store carbon is at risk of being published later than the originally anticipated fourth quarter release, an EU source told Carbon Pulse on Tuesday, as the EU's executive grapples with new appointments and approaches the end of its current term.

This professional is responsible to ensure the highest quality of projects in terms of environmental integrity, improving livelihoods as well as protecting and restoring and biodiversity. It's a key role in the core function of company, as will develop, and drive all technical studies and analysis required to produce the Project Description and Monitoring Reports required by the standards applied for generating carbon credits in the carbon markets.

Two African manufactured electric cookers have been launched that use sensors to monitor the customer journey from end-to-end, including real-time energy consumption, as cookstove carbon project developers innovate to overcome criticism about over-crediting.

The EU on Tuesday urged African nations to back its aims for the COP28 UN climate talks, amid consensus that the negotiations need to pivot towards accelerating the roll out of renewable power and the development of green hydrogen to generate sustainable economic growth.

A programme for supporting regenerative agriculture initiatives across land and water will launch in October, advisors Bright Tide has said.

South and Southeast Asian countries are running out of time and will likely not be able to reach their net zero targets within the stipulated period, a UNDP official told a Kuala Lumpur conference Tuesday.

A coalition of more than 78 UK-based environmental organisations has claimed that the UK government lacks progress on the country's 30x30 nature-protection pledge and called for more robust action.