Carbon Pulse

The Ghanaian government plans to deliver its first batch of ITMOs under Article 6.2 of the Paris Agreement by Q3 2024, according to a report released Thursday.

The Global Environment Facility (GEF) Council has approved the initial guidelines to expedite the implementation of the Biodiversity Beyond National Jurisdictions (BBNJ) agreement, as signatory countries are lagging behind on the ratification process.

Nigeria's vice president, Kashim Shettima, will inaugurate a committee on Thursday tasked with developing Nigeria's Carbon Market Activation Plan, setting out a framework for voluntary carbon, Article 6, and ETS development in the country, according to local media.

Climate and nature investment and advisory firm Pollination has appointed Dame Amelia Fawcett, co-chair of the International Panel on Biodiversity Credits (IAPB), as its senior advisor.

The lack of an explicit target for different carbon removal types in the EU’s new Industrial Carbon Management Strategy is holding back the industry from reaching its full potential, say industry stakeholders.

Japan has issued the first instalment of its climate transition bond worth 1.6 trillion yen ($11 billion) to fund its emission reduction targets, UK-based non-profit and certifier Climate Bond Initiative confirmed Thursday.

French oil major TotalEnergies ramped up investment in carbon credits in 2023, it said in annual results this week, spending nearly $50 million on units across the year, while also posting a 300% year-on-year increase in purchases in the final quarter.

Japan’s government, related agencies, oil and gas companies, and industrial emitters see great hope in the saline aquifers and depleted oil and gas reservoirs across Southeast Asia as a permanent storage solution for a portion of their carbon emissions, the only problem is the region’s lack of regulations to support this, a webinar heard Thursday.

The Australian Securities Exchange has released updated draft details on the three environmental futures products it plans to launch in July this year.

A multi-party committee in the Australian Senate has recommended the government reject a bill by the Greens party that would introduce a so-called climate trigger into the country’s environmental laws, whereby new projects would be assessed based on their climate impacts.

An Australian carbon market industry body has urged the government speed up its work programme on reforming the market to unlock new methodologies and domestic credit supply, or run the risk of emitters being forced to rely on international credits to meet compliance obligations.  

A joint development agreement announced Wednesday between a US petrochemical producer and a diversified Japanese conglomerate is expected to reduce nearly 1.4 million tonnes of CO2 annually from a biofuel refinery combined with carbon capture and storage (CCS).

The Northwest Territories (NWT), which maintains its own carbon pricing legislation in place of the federal government’s, approved the carbon tax exemption on home heating fuel, alongside a reduction in its quarterly territorial rebate on Wednesday.

Despite their current downtrend, investing in EU carbon allowances will likely be one of the “great opportunities” of 2024, analysts predict.

Shipowners have targeted liquefied natural gas (LNG) as the fuel to meet the International Maritime Organisation’s (IMO) 2030 climate targets, while methanol, seen as a distant second-place option, has been largely promoted by just one major company, finds a report.

Despite record growth in US clean energy sources last year, an environmental think-tank has warned the sector faces challenges, including supply chain issues and the need for accelerated renewable power installations to meet the country’s climate targets.

A US-based tech company specialising in environmental assets and a German brokerage have launched a regulated trading platform for tokenised renewable energy certificates (RECs).

A US-based venture capital firm has secured $100 million in its second funding round, primarily earmarked for Series A investments in companies working towards decarbonisation, the company announced Wednesday.

A large voluntary forest carbon project in British Columbia, developed by a major Canadian timber company, will have its initial 'zero' grade issued by a US-based ratings firm reviewed after important data said to be missing was made publicly available.

The European Commission's recommendations on Tuesday that the EU aim to reduce emissions by 90% by 2040 and deploy carbon capture to help get there marked the beginning of a rocky road of further climate negotiations.