Carbon Pulse

The G7 summit starting on Thursday, just a few days after European elections, lays bare security issues and high-level geopolitics as the main obstacles towards phasing out fossil fuels and reaching the Paris climate goals.

The European Commission will offer €1.2 billion in the second auction for green hydrogen projects, accounting for a quarter of the Innovation Fund's budget this year, the trade group Hydrogen Europe announced on Wednesday.

Peak global oil demand will be reached in 2030 amid a “unprecedented” glut of supply after investors were caught napping by the rush to adopt clean technologies, warned the International Energy Agency (IEA) on Wednesday.

A removals registry has developed a protocol for biogenic carbon capture and sequestration (BCCS), with requirements on the sourcing of sustainable biomass, and a bioenergy producer signed on as the first supplier.

A regional partnership seeking to advance nature conservation efforts in Latin America and the Caribbean has drafted a new strategy to meet the ambitious goal of protecting and restoring 50 million hectares of land by 2030.

The arrival of a new Labour government would clear the way for Britain to link its emissions trading scheme with the EU’s within the next few years, pushing UK prices up to parity as soon as the intention is signalled and aligning the two markets over the longer term, experts said on Wednesday.

'Well-intentioned' initiatives such as the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations often fail to provide stakeholders with decision-useful information, as companies tend to highlight their sustainability successes rather than nature-related risks, found a study published on Monday.

Issuances of the lowest-quality credits have fallen by almost half so far this year as a total share of the market, although the grade continues to house the largest share of credits, according to a rating agency.

The chemical industry is calling for faster implementation of the European Green Deal after the 2024 EU Parliament elections, saying cheap and abundant renewable electricity will be the cornerstone of the industry’s ability to compete on the global stage in the 2030s.

Selling all the biodiversity net gain (BNG) units from one large conservation project in England could take up to a decade, if they trade at all, with the current system unable to drive large-scale landscape recovery on its own, a land manager has said.

European carbon prices were marginally higher at midday on Wednesday as early weakness was erased by gains in natural gas, while the weekly Commitment of Traders data showed that the aggregate net short position among investment funds continued to grow amid an overall reduction in exposure.

South Korea’s monthly CO2 permit auction on Wednesday was again oversubscribed, though the price outlook may remain bleak in the near term due to persistent low demand in the national carbon market.

A Malaysian federal government fund has partnered with a Kuala Lumpur-based renewable energy company to explore the development of nature-based solutions (NbS) projects in the Southeast Asian country.

The committee steering Japan’s J-Credit programme is considering adding two new methodologies to the domestic voluntary programme, encouraging industrial companies to shift towards greener manufacturing processes.

In developing the framework to authorise Article 6 projects, the Philippines may allow developers to generate ITMOs as long as they also support the country in meeting its NDC by generating a secondary project for the domestic market.

A developer of direct air capture (DAC) technology is partnering with a carbon storage business in the Mediterranean to use its technology to capture CO2 and store it in a saline aquifer off the shores of Greece.

Taiwan may consider implementing a dual-track carbon pricing scheme, which could include the introduction of a cap-and-trade framework to regulate the total amount of emissions, according to local media reports.

The Global Environmental Facility (GEF) Council is set to approve a spending package of over $700 million next week, including the first-ever projects supported by the Global Biodiversity Framework Fund (GBFF), amid mounting debate over the fund's potential to effectively address the financing gap on biodiversity.

An Australian biochar and carbon dioxide removal project developer has formed a partnership with a Japanese agri-tech firm to focus on scaling the global biochar market, they announced Wednesday.

A US-headquartered soil carbon startup has signed an agreement with the Mongolian government to introduce regenerative agriculture and provide carbon finance to farmers and herders and with Mitsubishi for a JCM project in the country.