Carbon Pulse

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

The Canadian province of Ontario announced Tuesday that it will pour C$9.4 mln ($7 mln) into 14 projects for research, innovation, and modernisation initiatives around the use of forest biomass, although one expert has criticised the programme for threatening local forest carbon stocks.

A report from an industry-labour-NGO partnership released Tuesday recommended a slew of policies to the US government to mobilise over $25.4 billion of available funding plus tax credits to achieve industrial net zero emissions by mid-century.

Just 8% of carbon credits are to be fast-tracked for the ICVCM’s Core Carbon Principles (CCP) label, while almost half of the units in the voluntary market come from methodologies deemed too contentious to be immediately approved, the cross-stakeholder initiative announced Wednesday.

Oregon's low carbon fuel programme, which regulates transportation fuel producers and importers in the state, looks to adjust its carbon intensity (CI) assessment model and verification of electricity transactions for credit generation, mostly in line with California’s LCFS scheme, staff detailed in a Tuesday workshop.

The Science Based Targets Network (SBTN) will delay validating the programme’s first nature targets till July after initially planning their debut for Q1 of 2024, according to Executive Director Erin Billman, in the interest of supporting ambition among the 17 firms participating in the pilot phase.

Australia has committed another A$70 million ($46 mln) to develop a renewable hydrogen production centre as part of its Hydrogen Hub initiative, this time in Northern Queensland.

The primary objective of this project is to facilitate the further development of Nature-Based Solutions (NBS) in Morocco. The project aims to establish perspectives for implementing NBS in Morocco by 2030, 2040, and 2050, addressing challenges related to climate change, biodiversity conservation, and development. The consultant will play a crucial role in delivering the project’s outputs, as defined by Morocco’s Ministry of Energy Transition and Sustainable Development.

The EU risks missing its 2030 emissions reduction target as five countries have so far failed to set out adequate plans to develop their renewable power, hydrogen, land use, bioenergy, and CO2 storage within the next six years, according to a report released on Wednesday.

Environmental and social safeguards are becoming increasingly crucial for project implementation, but the market requires better guidance to effectively integrate risk management into carbon projects, webinar attendees heard Tuesday.

A municipality in Alberta announced signing a memorandum of understanding (MoU) with a fuel producer to build a $600 million synthetic gasoline facility that would include carbon capture and sequestration (CCS) and hydrogen production.

The Western Canadian province relies on Old Growth Management Areas (OGMAs) as a method of accounting towards its commitment to protect 30% of lands by 2030, but an environmental non-profit reported Monday that BC's OGMAs do not meet Canadian or international conservation standards, do not entirely contain old forest, and are at risk of logging.

The European Commission adopted new rules on Tuesday to harmonise the free allocation of emission allowances under the EU Emissions Trading System, although the cement sector remains mostly untouched.

The US National Science Foundation (NSF) on Monday awarded 10 projects up to $1.6 billion in funding over the next decade, one of the single largest investments in region-based research and development in the nation's history, in an effort to promote economic competitiveness through innovation in energy and climate.

Investors will begin to use location-based data to more accurately identify the true value of biodiversity in their assets this year, the head of a green finance firm has said.

UK-based think tank International Institute for Environment and Development (IIED) has proposed a biodiversity loss and damage fund to address non-climate-related impacts on nature in developing countries.

To support our team’s mission to proactively promote climate protection, we are looking for a Senior Manager Nature Based Solutions.

A direct air capture (DAC) firm has teamed up with a Canadian climate technology provider to supply core equipment to build three of its projects in the US, as they aim to drive towards commercial scale for the nascent carbon removals type.

Integrated in the Trading area, you will be responsible for acting as a supply/asset manager trader hedging power and emissions positions as required by CEPSA's industrial activities. And for generating profits by engaging in entrepreneurial trading activities across the curve in Spain and liquid CWE markets.

KPMG’s ESG Services practice offers a comprehensive range of services encompassing ISO (Environment, Quality, Health and Safety, and GhG), forest certification, and forest carbon-related services to clients across Canada and internationally. As we grow, there is an opening for professionals at the Senior Manager level to join our ESG Services team based in Vancouver.