Carbon Pulse

Legislation to underpin the national emissions trading scheme and other climate-related programmes have been placed in the "least important" category to deal with by Chinese officials, leaving the world's biggest carbon market unfounded in law for another year as lawmakers prioritise energy security and other issues.

One of Japan's largest banks has begun intermediary services for the creation and trading of domestically issued J-Credits by partnering with an offset provider, it announced Friday.

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

A US-based startup focused on crafting sustainable fuels and chemicals from captured CO2 has announced an injection of $12 million in seed funding.

The Organisation of Eastern Caribbean States (OECS) has signed an agreement with a carbon removal and reduction company to foster collaboration in the development of projects in the region.

Global development and financial leaders this week announced a partnership at the Africa Climate Summit (ACS) aiming to address the considerable funding gap in the continent's clean cooking sector and to encourage investment by mitigating associated risks.

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A US-based carbon offset developer unveiled plans on Wednesday to develop REDD+ projects in partnership with local forest communities in the Republic of Liberia.

A Texas-based industrial waste management company on Thursday launched a standalone biomass carbon removal and storage company that seeks to generate credits for $200 less than other permanent sequestration technologies.

Washington Carbon Allowances (WCAs) took a nosedive Wednesday after the state government said it will sell millions of forthcoming reserve allowances solely at the scheme’s lower tier price, with a state senator also unveiling draft legislation in the wake of the record high Q3 auction results publication to provide cost relief by raising the programme’s near-term allowance budgets.

California Carbon Allowances (CCA) remained fairly resilient to Washington Carbon Allowance (WCA) market mayhem and through a week of subdued equity market sentiment, while traders also pointed to a forthcoming rulemaking and options activity in explaining the recent price increases.

The central Brazilian state of Goias on Wednesday announced it will soon unveil a plan to zero out its GHG emissions by mid-century, in part through a jurisdictional REDD+ crediting system.

The Panama environment ministry on Wednesday released a statement noting that private reforestation projects are eligible to sell offsets into the voluntary carbon market (VCM), so long as they meet requirements under the country’s climate policies.

A new direct air capture (DAC) advancement which negates the needs for energy intensive fans is being touted by a climate tech firm that claims to have significantly reduced the cost of operation.

Tech giant Microsoft on Thursday announced one of the largest-ever carbon removal deals, as a corporate buyers’ organisation also revealed it has spent several million more in purchases from a group of 12 startups in the sector.

The Colombian environment ministry on Wednesday announced a fund to help reduce deforestation and put the country on track to reach its climate targets.

Alberta may need to strengthen its large emitter system to avoid running afoul of the Canadian CO2 pricing benchmark, as the impact of federal climate policies and carbon capture projects on the province may eliminate significant demand drive down credit prices, experts and market participants told Carbon Pulse.

EU nations should make progress "as soon as possible" on the European Commission's proposal to tackle high energy prices and energy supply issues, the executive's energy chief Kadri Simson reminded participants of a high-level forum in Brussels on Thursday.

Around 80% of the 1,100 members of the Taskforce on Nature-related Financial Disclosures (TNFD) forum said they would adopt its recommendations by 2026, the co-chair of the taskforce has said.

Analysts at a voluntary carbon market data firm have estimated that the price-per-tonne of direct air capture units will fall below $450 by the end of the decade, based on forecasts from around 100 stakeholders in engineered removals, they wrote in a post published Thursday.