Carbon Pulse

European carbon prices extended their losses for a third day as bearish sentiment gathered momentum amid reports of compliance selling and utility fuel-switching from coal to gas, while the weekly Commitment of Traders report showed that commercial participants had added a hefty 40 Mt of short positions last week.

The construction sector's CO2 emissions could be reduced by up to 75% by 2050 by establishing a circular economy, which would also boost profits substantially, according to a report published on Wednesday that called for more scalable solutions.

Norway has given the go-ahead to open up for deep sea mining in the Arctic region after a vote in parliament Tuesday, making it the first country to open up its seabed to the controversial activity.

South Korea on Wednesday sold fewer than 50% of the allowances on offer in its monthly CO2 permit auction amid dwindling buy interest, with analysts expecting the carbon price to remain at relatively low levels this year due to a lasting oversupply.

Green ammonia could supply a large amount of the world’s shipping fuel needs by 2050 at a cost of $2 trillion if 10 ‘hubs’ are created, according to a report released this week.

Carbon-financed clean cookstove provider Koko Networks has secured scalable, long-term debt from a commercial bank that recognises the value of the company’s future cash flows from carbon credit generation.

Australia’s climate change and energy minister has called on the federal opposition to explain its climate policies and “stop the nonsense” following media reports that multiple Liberal and National MPs were opposed to Australia setting a 2035 emission reduction target.

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

A Quebec-based carbon removal project developer has partnered with a local direct air capture (DAC) company as part of efforts to build a facility to remove hundreds of thousands of tonnes of CO2 from the atmosphere and store it in disused mines.

A US tech company has developed monitoring equipment contributing to transport emissions cuts that it is seeking to deploy in global carbon markets, despite New Zealand dairy co-op Fonterra pulling out of a pilot with the firm due to delays.

The Washington Clean Fuel Standard (CFS) generated a surplus of units in the scheme's second quarterly credit generation figures, stemming largely from ethanol, according to government data published Tuesday.

The former ARB branch chief responsible for overseeing the Low Carbon Fuel Standard (LCFS) commented on key features of the draft rulemaking in a webinar Tuesday, as the California regulator considers feedback to its proposed changes to the LCFS programme.

A Kenya-based startup has secured significant funding for enhancing its direct air capture (DAC) technology.

A Democratic assemblywoman in New York's lower house has introduced legislation for an alternative proposal for the state's future cap-and-invest programme that entails stricter guidelines, following publication of a preliminary outline of the programme last month by state agencies.

A formerly UK-based carbon capture and clean hydrogen startup has closed a £3.6-million seed funding found lead by Saudi Aramco’s venture capital arm.

An Argentine digital logistics platform that specialises in truck fleet management for the logistics industry has announced the launch of a programme to provide its customers with the chance to offset their greenhouse gas (GHG) emissions through green bonds free of charge, according to a LinkedIn post.

The state announced funding of $50 million to support Massachusetts’ mandated emissions reductions targets and forest conservation efforts after a committee report issued forest management recommendations.

US-based agricultural technology firm Indigo Ag has a former executive of Tyson Foods as its new CEO.

A US nonprofit group of nearly 250 science and policy experts released an issue brief on Tuesday cautioning against the country's "heavy" dependence on gas power plants given their lack of reliability under extreme weather conditions.

Emissions from the first 60 days of the war in Gaza were greater than the annual GHG output of 20 countries, according to a study published Tuesday.