Carbon Pulse

The delayed German national security strategy was published Wednesday and includes key climate pledges including a promise for a 'substantial contribution' to international climate finance, rapid operationalisation of the global loss and damage finance mechanism, and a doubling down on the creation of an climate club between countries.

Experts weighed the merits of including agriculture emissions in the EU ETS at an event in Brussels on Wednesday, with panellists agreeing that the market mechanism could be a stronger policy tool than what is in place now to lower the bloc's farming emissions, which have not fallen since 2005.

Peak global oil demand is in sight amid surging demand for electric vehicles, the International Energy Agency (IEA) said on Wednesday, bringing forward the date 

The Saudi company set up to drive voluntary carbon market (VCM) growth sold 2.2 mln carbon credits in an auction held in Kenya on Wednesday, with the units clearing at a price of 23.50 Saudi riyal per tonne, equivalent to nearly $6.30, and sold to 16 mostly domestic firms.

Shell promised to deliver more value with less emissions on Wednesday, pledging to spend $10-15 billion of capital investment on low carbon technology between 2023-25, after angering climate activists by abandoning plans to cut oil production each year for the rest of the decade.

A Saudi company established to scale up voluntary carbon market involvement across the Global South has announced it will launch an Article 6-ready exchange in 2024 and aims to establish one of the largest global markets by the end of the decade, as it hosted its second auction of credits on Wednesday.

European carbon prices extended their rally for a sixth day on Wednesday as traders continued to test the strength of short positions ahead of the publication of the weekly Commitment of Traders report, while gas and power markets reversed course after five days of gains.

In a bid to eliminate fears of double counting and bring liquidity back to the crypto carbon space after a troubled year, an emergent blockchain solution, 'the two-way bridge', is gathering momentum.

A new international carbon standard registry that aims to sharply cut the cost of project development was launched in South Africa on Wednesday.

Germany's government has agreed on a watered down version of a law to cut emissions from heating amid fears over excessive costs, a move likely to apply bullish pressure to the nation's fuels carbon pricing system as a result of delaying the transition.

BeZero Carbon and ACX have expanded their carbon credit ratings partnership to the Middle East, an offering buyers in the Gulf States access to offset grades.

Taiwan is planning to utilise idle public lands to generate forest carbon credits, with two projects in the pipeline that will be launched next year at the earliest, according to the island’s newly-appointed finance minister.

The six-nation Coral Triangle Initiative is launching a conservation fund with initial contributions from German development bank KfW and USAID to back its new action plan for marine protection.

A consortium of groups has begun developing a methodology to use carbon finance to transition emerging economies away from coal-fired power to renewable energy, with plans to present the method at COP28 in Dubai, they announced Wednesday.

Pre-issuance credits for a European soil carbon scheme expected to be certified by Verra before the end of the year are being snapped up between €50-60 amid a spike of interest in the fast-growing voluntary market, a project developer said on Wednesday.

Australia on Wednesday appointed the chair and advisory board of its newly-established Net Zero Authority (NZA), tasked with guiding the country’s economic transition to net zero emissions.

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

A Canada-headquartered carbon mineralisation firm has announced partnerships with nickel producers across three continents as it targets boosting its CO2 removal activities at mine sites.

The New Zealand government’s latest NZU auction, held Wednesday, has been declined as predicted because the clearing price did not meet the minimum price settings, it announced.

Paraguay’s largest REDD+ project is set to receive its first batch of carbon credits.