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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 16 min ago
UK charity hopes to turn the tide of nature loss with £6-mln rewilding investment
A new grant-funded programme in the UK will seek to introduce keystone species and enhance marine protections across the country, in line with the country's Global Biodiversity Framework (GBF) targets.
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Australia teams up with Japan to reduce CO2 shipping costs
Australia’s Future Energy Exports Cooperative Research Centre (Fenex CRC) has signed with a consortium of Japanese shipping and gas companies to work towards more cost effective shipping of liquefied CO2.
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Taiwan set to postpone carbon levy to 2025 -media
Taiwan plans to push back the timeline for its upcoming carbon levy scheme by a year given the slower-than-expected policy progress, despite rising concerns over the island's climate goals and industry competitiveness, local media has reported.
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Former regional leaders urge Pacific nations to hold off support for Australia’s COP31 bid
An alliance of former Pacific national leaders are urging countries in the region to hold off their support on Australia hosting COP31 until it takes stronger action to limit support for fossil fuel projects and subsidies, they announced Wednesday.
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Domestic needs and credit fees: GGGI outlines Article 6 key considerations for developing nations
Making sure carbon credit sales don't impact a seller country's ability to meet its own targets and setting a fee structure that allows project hosts to make a profit without alienating foreign buyers are among the most important challenges facing developing countries in the implementation of Article 6, according to the Global Green Growth Institute.
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CP Daily: Tuesday August 22, 2023
A daily summary of our news plus bite-sized updates from around the world.
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RGGI compliance entities boost allowance holdings after Q2 auction
Emitters in the power sector RGGI carbon market added to their allowance positions in the time between the June auction and end of the second quarter, while traded volumes overall declined during the spring period, according to a report published Tuesday.
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Brazil president’s ETS language incorporated into advanced Senate carbon trading bill
Language from Brazilian president Luiz Inacio Lula da Silva's draft emissions trading system proposal was incorporated into an already-existing carbon trading bill in the Senate on Monday, with experts noting some potential tailwinds and challenges for the legislation’s passage.
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California power sector emissions remain depressed through July
California electricity sector CO2 output continued to hold at 10-year lows through July as the share of renewables and hydroelectricity increased and imports fell compared to 2022 levels, according to data published Tuesday.
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US gov’t announces $150 mln in funding for connecting small forest landowners to voluntary carbon market
US President Joe Biden's administration on Tuesday announced it will allocate $150 mln in grants to organisations that assist underserved and small acreage landowners in accessing revenue from the sale of carbon credits.
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Bolivian biochar developer targets ramp-up after gaining certification
Bolivian biochar producer Exomad Green aims to remove 200,000 tonnes of CO2 a year from next year after gaining certification under the Puro.earth carbon crediting standard, the certifier said on Tuesday.
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Germany to fall short on “overestimated” 2030 climate targets
Germany's plan to reduce its greenhouse gas emissions is likely to fail short of the nation's climate targets, an independent panel warned on Tuesday, in a release that could pile pressure on Berlin to ramp up its mitigation policies.
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Power-hungry Bitcoin miners turn to hydro for new European data centres
Bitcoin mining companies are increasingly looking to use renewable energy to sustain their new cryptocurrency data centres in Europe as carbon and energy costs bite. A Carbon Pulse subscription is required to read this content. Subscribe today to access our unrivalled news and intelligence, as well as our premium content including all job listings. Click […]
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New global standard for biodiversity uplift certification due next year
A UK-based environmental research organisation is developing a site-based biodiversity standard, applicable to any project size in any geography.
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EU climate chief officially resigns, with former energy boss Sefcovic named as replacement
EU climate chief Frans Timmermans officially handed in his much-anticipated resignation on Tuesday, with the European Commission temporarily handing responsibilities for the European Green Deal and climate action files to Commissioner Maros Sefcovic.
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$7 trillion investor group asks G20 to reform agricultural subsidies
Thirty-two investors managing $7.3 trillion in assets have asked the G20 group of wealthy countries to align their agricultural subsidies with climate and nature goals.
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Two ports in North Africa identified as possible carbon leakage hotspots for ships
Two ports in Northern Africa have experienced a jump in activity in the past year in what may be a pre-emptive attempt by ship operators to avoid purchasing EU carbon allowances once the shipping sector is part of the EU ETS in 2024, a piece of additional draft legislation by the European Commission has outlined.
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Euro Markets: Midday Update
European carbon prices rose on Tuesday morning as participants eyed up key technical resistance levels, and support continued to filter in from the risk of strikes at a key Australian LNG export terminal that boosted regional gas contracts, while UKAs soared back up to early July levels due to bullish power prices.
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Singapore adds Sri Lanka to stable of Article 6 carbon trading partners
Singapore on Tuesday signed a Memorandum of Understanding (MoU) with Sri Lanka to collaborate on trading carbon credits aligned with Article 6.2 of the Paris Agreement.
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Russian gas project sells first carbon credits through blockchain platform
Amid Western sanctions, the largest integrated petrochemical company in Russia has teed up the domestic voluntary market by selling its first carbon credits to a Russia-based financial services platform.
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