Carbon Pulse

The UK needs to finish developing an environmental footprint indicator to help demonstrate how it is tackling distressing deforestation levels, a group of UK politicians has said.

An automaker-led team competing in a global motorsport championship for electric cars will offset emissions from its 2023 season through the purchase of carbon credits from a biotech company developing meat alternatives registered under Iceland-based International Carbon Registry.

The diversion of ships around the Cape of Good Hope to avoid attacks in the Red Sea will substantially increase emissions compared to the usual Suez Canal route, but the impact on EUA demand from the shipping sector is not likely to be significant in 2024 due to its gradual phasing into to the EU ETS, experts told Carbon Pulse.

China’s State Council on Friday approved regulations for the national emissions trading scheme, adding bureaucratic clout to the scheme, which so far only has been formally backed at ministerial level.

European carbon experienced a relatively stable morning on Friday as traders kept an eye on forecasts for colder weather and gas price support, while waiting for US-based investment funds to start their day.

In order to coordinate the implementation of the Agroforestry action, including the advising to the seedling production at community lever, the establishment of Agroforestry System, the training to SHF and other stakeholders and supervise local and international partnership, FAO Mozambique intends to recruit an Agroforestry and Carbon Trading Specialist to support the implementation of these component.

Azerbaijan's environment minister, who worked for 26 years at the country's state oil and gas firm, has been appointed as the president-designate of COP29, due to be held in November in Baku.

Sentiment in China's national carbon market is being reset after the market concluded the second compliance period at the end of 2023, with participants expecting more policy updates to be announced later this year.

US-based academics say they have found a more efficient way to capture the CO2 emitted from power stations, which may eventually assist the energy transition.

Even under a moderate implementation of the EU’s biodiversity strategy, tens of millions of cubic metres of roundwood production would be moved to countries with lower governance quality and higher risk of species extinction, a study has warned.

A US-based consulting and engineering services company has been awarded $24 million by the US Agency for International Development (USAID) to preserve biodiversity and natural resources, and promote blue carbon initiatives in Cambodia, it announced Thursday.

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

Washington's Department of Ecology (ECY) presented the volume of current vintage allowances on offer for its first of the four quarterly Washington Carbon Allowances (WCA) auctions of the year, and also published revenue generated following the completion of the first year of the state's cap-and-trade scheme.

California Carbon Allowances (CCAs) plateaued and dipped early during the week following the holiday season before rallying late to near-record highs, while Washington Carbon Allowances (WCAs) declined slightly as the market continues to largely languish in stagnation, market participants told Carbon Pulse.

A Vancouver-based carbon offset developer announced an agreement on Thursday with a US non-profit to assist municipalities in decarbonisation efforts while generating carbon credits in the process.

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A Toronto-based voluntary carbon credit firm announced Thursday the reduction in the size of its Board of Directors as part of the firm’s cost cutting efforts.

The Washington Department of Ecology (ECY) announced Thursday that it was rolling forward its emergency rulemaking on the state’s Allowance Price Containment Reserve (APCR) sales ahead of the first auction notice for the year.

The US Department of Energy (DOE) Office of Fossil Energy and Carbon Management (FECM) on Thursday released closing dates on available funding for carbon projects, with deadlines as early as Friday.

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