Carbon Pulse

The German government’s nature department would like to see regulation on biodiversity progress so that the financial sector is better equipped to tackle the emerging crisis.

More than 65 countries are now signed up to the Global Cooling Pledge that launched at COP28 last month, but more research is needed to turbo-charge the delivery of cooling plans, advisors to the UK government, one of the initial signatories of the pledge, said on Wednesday.

UK power company Drax Group has secured an option with Molpus Woodlands Group (Molpus) to buy up to 1 million tonnes of sustainably sourced woody biomass a year to fuel its bioenergy with carbon capture and storage (BECCS) operations in Southeastern US.

Financial institutions should not hide behind the lack of data and start relying immediately on external data providers to assess the impacts on nature across their value chain, a Taskforce on Nature Related Financial Disclosures (TNFD) official has said.

The UK government could encourage developments in areas intended for nature recovery through changes to its biodiversity net gain (BNG) metric, though ecosystems may not lose out, market onlookers have said.

Clean water access could be sped up through monetising the associated carbon benefits, increasing finance to projects historically reliant on philanthropy and grant support, according to stakeholders in the sector.

Seven EU states are pinning their hopes on new climate policies to help get them on track to meet the bloc's emissions reduction target of 55%, which they are currently projected to miss, their officials have told Carbon Pulse.

Ukraine is planning to launch a national ETS in pilot mode in 2025, the country’s environment minister announced at an environmental forum in Kyiv on Wednesday.

Harmful industrial emissions could be reduced by up to 85% across the world with a mix of tried-and-tested technologies and upcoming tech, according a report published on Wednesday, findings from which have been submitted to a UK government consultation.

A South African energy producer has partnered with India’s largest carbon project developer to provide consultancy solutions to power plant owners about emissions offsetting projects.

Shipping companies will now be able open their holding accounts for EUAs, which they have been waiting for to start hedging and meeting their EU ETS requirements, following the publication of a legal act by the European Commission on Wednesday.

A UK Labour government would work to emulate green deal policies in the US and EU to unlock private low-carbon investments in areas such as grid connectivity, housing, and infrastructure, the opposition party’s shadow climate change minister said on Wednesday.

European carbon prices were modestly firmer at midday on Wednesday as the market tested higher technical levels amid an early squeeze, before falling back as weekly position data showed very little change in investment funds' positioning after prices had moved just 0.1% over last week.

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A benchmark pricing company has struck a deal to display carbon credit ratings on its platform with a view to creating ‘price baskets’ for carbon projects.

The Nigerian government has underlined its commitment to reducing emissions through the establishment of a carbon market, its minister of environment said at an event in the country.

Indonesia has brought in more regulations governing carbon capture and storage (CCS) work as it sees the tech as an integral plank in its plans to meet its Nationally Determined Contributions and meet its net zero by 2060 commitment.

The Coalition of Rainforest Nations (CfRN) has stepped up its campaign to promote UN-approved sovereign credits from REDD+ forestry protection, launching a new report guiding how they could be used towards meeting national climate targets under the Paris Agreement.

The Australian government is helping to keep the nation’s steelmaking industry alive with A$200 million ($131.45 mln) in grants to two of the country’s three remaining steel mills, while also hoping to reduce carbon emissions.

A Massachusetts-based non-profit dedicated to marine research will receive a donation of $25 million to support ocean-based climate solutions that can help strengthen the operations of the emerging blue carbon market.