Carbon Pulse

All-time California Carbon Offset (CCO) issuances surged past the 250 million mark this week as a new improved forest management (IFM) project earned a significant credit batch, according to state data published Wednesday, while the price premium credits with direct environmental benefits to the state (DEBs) rose into the double digits.

Carbon market standards body Climate Action Reserve (CAR) released its draft cement crediting methodology on Wednesday for public consultation.

Germany’s coalition government has agreed to raise its domestic carbon price for buildings and transport but to a level still below its pre-energy crisis upward trajectory, Bloomberg reported on Wednesday, citing anonymous sources.

Reductions in GHG intensity and modest production growth contributed to a maintenance of the absolute emissions of Canadian oil sands last year, even amidst an increase in output, according to new analysis released Wednesday.

Two Canada-based firms will construct a pilot carbon capture facility to sequester up to 1,000 tonnes of CO2 annually and support a wide rollout of removal technology across Canada, the companies announced Wednesday.

Poland has filed legal challenges to the EU's highest court against the bloc's planned second carbon market and carbon border adjustment mechanism (CBAM), the government said on Wednesday, the latest in a series of cases Warsaw has submitted over the EU's Fit for 55 climate policy package.

The slow-moving real estate sector is likely to have to increasingly turn to purchasing carbon credits, as it faces growing pressure to offset the residual emissions of developments and to operate in more emissions-regulated environments, even as many in the industry are sceptical about the credibility of carbon credit projects today.

A California-based developer is seeking out opportunities to invest in both project-level and larger scale jurisdictional avoided deforestation after earlier having secured up to $640 million in financing.

The future of the Kyoto-era Clean Development Mechanism (CDM) is to be discussed by governments at the upcoming COP28 climate summit in Dubai, a UN spokesperson told Carbon Pulse on Wednesday while confirming that it will still be possible to transfer and cancel CDM credits beyond a looming deadline, clearing up a point of confusion among stakeholders.

As lower costs and less need for government subsidies are sparking rapid growth in the offshore wind power sector, biodiversity considerations are likely to become decisive factors in the project selection process, according to industry stakeholders.

One of Canada’s largest financial institutions has hired a carbon trader from a competitor after recent turnover on the environmental markets desk, Carbon Pulse has learned.

A carbon credit rating agency has partnered with Brazilian scientists to improve its assessments of the South American country’s many forestry projects.

Eight countries home to the Amazon rainforest have agreed to advance innovative financing options to help protect the massive territory, according to a joint declaration issued late on Tuesday that failed to include a pledge to end deforestation by 2030.  

European carbon prices rose sharply mid-morning on Wednesday after weekly Commitment of Traders data showed that investment funds had turned a net long position into net short, surprising traders and triggering a surge of buying.

South Korea on Wednesday sold fewer than 40% of the allowances on offer in its monthly CO2 permit auction amid dwindling buy interest, with the clearing price crashing to a new all-time low.

A steelmaker headquartered in the EU has signalled its outlook for production in the region is the weakest across its global portfolio, joining other members of European heavy industry in a pessimistic economic view for the continent for the remainder of 2023.

A group of climate activists has sued one of Australia’s biggest energy companies over what it claims to be greenwashing, as the firm offers “carbon neutral” electricity and gas to customers based on the purchase of carbon credits.

The price of Australian Carbon Credit Units (ACCUs) jumped 5% on Wednesday as traders were made to pay higher in order to unlock supply.

The head of a global climate investment and advisory firm has been appointed chair of Australia’s A$15 billion ($9.8 bln) National Reconstruction Fund.

Indonesia Investment Authority (INA) has partnered with a global climate change advisory and investment firm to explore nature-based solutions investment and strategic opportunities in the Southeast Asian country, they announced Wednesday.