Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 1 hour 48 min ago
China CO2 emissions soar in Q2 amid extreme weather events -research
China’s CO2 emissions grew 10% annually in the second quarter of the year, bouncing back to the record levels from two years ago as widespread drought saw coal replace hydropower generation, according to analysis released Thursday.
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Australia’s seed industry underfunded, understaffed, and unprepared for surging carbon, biodiversity market demand
Australia’s seed industry is in dire straits and in desperate need of funding to scale up if it is expected to live up to government and industry expectations of widescale ecosystem restoration driven by carbon and biodiversity markets, industry experts say.
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CP Daily: Wednesday August 9, 2023
A daily summary of our news plus bite-sized updates from around the world.
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US govt awards $13 mln to support carbon removal projects
US President Joe Biden’s administration on Wednesday announced it has invested over $13 mln in nearly two dozen carbon dioxide removal (CDR) projects across a variety of different technologies.
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California offset issuance exceeds 250 mln with new large forestry project, as DEBs credit spread blows out past $10
All-time California Carbon Offset (CCO) issuances surged past the 250 million mark this week as a new improved forest management (IFM) project earned a significant credit batch, according to state data published Wednesday, while the price premium credits with direct environmental benefits to the state (DEBs) rose into the double digits.
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CAR publishes draft low-carbon cement protocol for US concrete producers
Carbon market standards body Climate Action Reserve (CAR) released its draft cement crediting methodology on Wednesday for public consultation.
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German government agrees compromise on hike of domestic carbon price -Bloomberg
Germany’s coalition government has agreed to raise its domestic carbon price for buildings and transport but to a level still below its pre-energy crisis upward trajectory, Bloomberg reported on Wednesday, citing anonymous sources.
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Canadian oil sands absolute emissions hold steady in 2022, despite increase in production
Reductions in GHG intensity and modest production growth contributed to a maintenance of the absolute emissions of Canadian oil sands last year, even amidst an increase in output, according to new analysis released Wednesday.
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Canadian companies announce carbon removal pilot facility in southern Quebec
Two Canada-based firms will construct a pilot carbon capture facility to sequester up to 1,000 tonnes of CO2 annually and support a wide rollout of removal technology across Canada, the companies announced Wednesday.
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Poland persists in legal fight against EU climate policies with fresh filings on ETS2 and CBAM
Poland has filed legal challenges to the EU's highest court against the bloc's planned second carbon market and carbon border adjustment mechanism (CBAM), the government said on Wednesday, the latest in a series of cases Warsaw has submitted over the EU's Fit for 55 climate policy package.
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FEATURE: Property developers face growing pressure to account for carbon, boosting interest in credits
The slow-moving real estate sector is likely to have to increasingly turn to purchasing carbon credits, as it faces growing pressure to offset the residual emissions of developments and to operate in more emissions-regulated environments, even as many in the industry are sceptical about the credibility of carbon credit projects today.
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Californian developer touts for nature-based initiatives after investment
A California-based developer is seeking out opportunities to invest in both project-level and larger scale jurisdictional avoided deforestation after earlier having secured up to $640 million in financing.
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Nations to consider Clean Development Mechanism future at Dubai climate summit, UN confirms
The future of the Kyoto-era Clean Development Mechanism (CDM) is to be discussed by governments at the upcoming COP28 climate summit in Dubai, a UN spokesperson told Carbon Pulse on Wednesday while confirming that it will still be possible to transfer and cancel CDM credits beyond a looming deadline, clearing up a point of confusion among stakeholders.
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Biodiversity poised to become more important selection criteria in offshore wind power projects -industry
As lower costs and less need for government subsidies are sparking rapid growth in the offshore wind power sector, biodiversity considerations are likely to become decisive factors in the project selection process, according to industry stakeholders.
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Canadian bank poaches emissions trader from competitor after string of exits
One of Canada’s largest financial institutions has hired a carbon trader from a competitor after recent turnover on the environmental markets desk, Carbon Pulse has learned.
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Rating agency forges links with Brazilian scientists to bolster nature project scrutiny
A carbon credit rating agency has partnered with Brazilian scientists to improve its assessments of the South American country’s many forestry projects.
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Amazon countries agree on cooperation, highlight need for financing in efforts to protect rainforest
Eight countries home to the Amazon rainforest have agreed to advance innovative financing options to help protect the massive territory, according to a joint declaration issued late on Tuesday that failed to include a pledge to end deforestation by 2030.
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Euro Markets: Midday Update
European carbon prices rose sharply mid-morning on Wednesday after weekly Commitment of Traders data showed that investment funds had turned a net long position into net short, surprising traders and triggering a surge of buying.
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SK Market: Monthly KAU auction fails to sell out again, with clearing price hitting new low
South Korea on Wednesday sold fewer than 40% of the allowances on offer in its monthly CO2 permit auction amid dwindling buy interest, with the clearing price crashing to a new all-time low.
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Another EU steelmaker flags weak economic outlook in quarterly results
A steelmaker headquartered in the EU has signalled its outlook for production in the region is the weakest across its global portfolio, joining other members of European heavy industry in a pessimistic economic view for the continent for the remainder of 2023.
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