Carbon Pulse

An Ontario-based insurance company announced its partnership with a Canadian forest carbon project on Wednesday to revitalise 1,280 acres (520 ha) of degraded land in Alberta.

The European Commission has unveiled draft plans to force the EU's dirtiest factories to pay for more of their CO2 output by curbing their ETS free allocations, a move some observers say would spur significant emissions cuts but still give a free ride to some major polluters.

A Canadian province's price on carbon lowered emissions and created co-benefits in every area of its jurisdiction, but environmental improvements were greatest in the wealthiest areas, according to a study published Tuesday.

Lufthansa Group has agreed to pre-purchase direct air carbon (DAC) credits from the Airbus carbon removal scheme as part of its target to halve net CO2 emissions by 2030 compared to 2019.

The United Nations Educational, Scientific and Cultural Organization (UNESCO) is reportedly exploring forward selling biodiversity credits from its world heritage sites.

Three airlines have over-egged their green credentials, the UK's advertising watchdog said on Wednesday, upholding investigations into misleading claims about the environmental impact and sustainability of flying. 

Denmark's climate minister Lars Aagaard urged the European Commission on Wednesday to adopt a proposal for the EU to cut emissions by 90% across the bloc by 2040, the first member state to come up with a position on the interim goal towards the bloc's binding mid-century net zero target.

Singapore has concluded negotiations with a series of nations across Asia, Latin America and Africa on implementation of Article 6 to give it access to international carbon markets.

Science Based Targets Network (SBTN) is developing science-based targets for nature focused on cities, it has announced at a COP28 presidency event.

A French project developer has agreed terms with local authorities to develop projects in the Philippines and Nigeria that are expected to generate tens of millions of carbon credits over coming decades.

A Japanese project developer has teamed up with a major tech company in Vietnam to expand its carbon credit generating business in Southeast Asia, with a focus on sustainable agricultural practices.

Spot credit prices under the Alberta Technology Innovation and Emission Reduction (TIER) programme in November more than reversed the previous month's gains despite record-high transactions, with low spot volumes and political developments likely hindering prices, a report published Tuesday said.

Ukraine's government is persisting in its efforts to introduce an ETS by 2025 and in plans to re-build the war-torn country in a greener way, though these initiatives are undermined by Russia’s continuous attacks as well as increasing emissions and environmental damage caused by Moscow's aggression.

Make UK, a trade body for UK manufacturers, has renewed calls for the British government to introduce a carbon border adjustment mechanism for energy-intensive industries before 2026 to align with the timescales of the EU’s version.

European carbon made a modest recovery on Wednesday morning after weekly position data showed investment funds had further increased their already-record net short positions, while natural gas and power prices snapped a sharp two-day loss to add support to the carbon market.

Indonesia is exploring using carbon credits generated under Article 6.2 of the Paris Agreement to fund floating solar projects in the country as soon as next year, as analysis this week has downgraded the rating of its climate targets and actions to "critically insufficient". 

Nature targets will be a core driver of demand for biodiversity credits, as companies can already see the business case for the market, according to a survey published by the UN-backed Biodiversity Credit Alliance (BCA).

Accelerating the deployment of engineered carbon dioxide removal (CDR) technology involves de-risking investments, fostering partnerships between industry and government, and a clear mandate that is not too prescriptive, panelists said on the sidelines of COP28 in Dubai on Tuesday.

Thailand has already issued mitigation outcomes from its landmark electric bus Article 6.2 carbon crediting programme and is "on track" to complete the first-ever transfer of an ITMO for use under an NDC national emissions pledge before the end of the COP28 conference, according to stakeholders close to the process.

A new hydrogen methodology presented at COP28 may facilitate greenwashing practices from the fossil fuel industry, say concerned NGOs.