Carbon Pulse

Chinese carbon prices hit record highs again over the past week as the emissions market continued to gather momentum from emerging demand ahead of the year-end compliance deadline.

UK Chancellor of the Exchequer Rachel Reeves pledged to fire up competitiveness in the country's financial services sector during her first Mansion House speech on Thursday evening, planning to boost private investment in clean energy and make the UK a global leader in sustainable finance.

The timberland management division of a Sao Paulo-based investment bank has reached $500 million for its Latin American reforestation fund, while Brazilian oil giant Petrobras has pledged increased funding for ecological restoration in the Amazon in partnership with the country's development bank.

A developer of atmospheric emissions monitoring for carbon markets said its approach could improve the accuracy of monitoring, reporting and verification (MRV) of nature-based projects, and potentially lead to more credits being issued than otherwise assumed using conventional methods.

Israel is in the final stretches of preparing a tax on greenhouse gas emissions and air pollutants that parliament approved in September after years of debate in an effort to resolve a “significant market failure” caused when polluters don’t pay for their environmental damage. 

A Russian petrochemical company plans to offset the carbon footprint of the country’s delegation attending COP29 in Baku, the firm announced on Thursday.

A mining giant has committed $16 million into the Makira Natural Park REDD Project in northern Madagascar that will help the project scale as well as reassess its deforestation baseline under Verra’s VM0048 methodology, which has just been approved by the Integrity Council for the Voluntary Carbon Market (ICVCM) as eligible for its stamp of high quality.

A new AI-powered technology could help UK companies measure and reduce emissions from electric vehicle charging, as they face stricter reporting obligations under the upcoming UK Sustainability Disclosure Requirements (SDR).

The coal transition requires targeted finance, with challenges in balancing investor expectations and supporting coal-dependent regions, experts said at COP29.

It is Day 5 at COP29 in Baku - Energy Day. After a messy Article 6 draft on trading rules was published on Thursday, with negotiators then demanded to work late to help slim down the 43 pages of text, signs of fatigue are setting in, just 48 hours before ministers arrive. On the energy front, the Azerbaijan presidency will announce a raft of pledges, and debate over the COP28 fossil fuels outcome is expected to be high on the agenda.

California regulator ARB’s Environmental Justice Advisory Committee (EJAC) on Thursday approved a set of recommendations for cap-and-trade programme revisions, which included calls to eliminate free allowances and offsets.

A Toronto-based carbon credit financier eked out a small net profit in Q3 2024 despite further writing down the value of one of its projects.

California Carbon Allowances (CCA) futures sold off sharply through the week ahead of the last quarterly allowance sale – with traders concerned over the lack of movement on the regulatory front from ARB – diverting attention away from the increase in Washington Carbon Allowance (WCA) prices.

Fewer than one in six carbon credits issued through global mitigation projects represent genuine reductions in greenhouse gas emissions, according to a new study.

The Integrity Council for the Voluntary Carbon Market (ICVCM) board has approved three REDD methodologies, which have yet to issue any credits, for the Core Carbon Principles (CCPs) label, it announced Friday, paving the way for millions of units to be issued with the high-integrity stamp.

The UK is setting out six new principles for trading voluntary carbon and nature credits, building on the initiatives by the Integrity Council for the Voluntary Carbon Market (ICVCM) and seeking to quickly bolster international trade under Article 6 of the Paris Agreement.

The UK is pledging nearly £80 million of funding to help developing countries roll out clean energy and shift away from fossil fuels, with a package of support that it said will position the country as a clean tech innovation leader.

The US Department of Energy (DOE) on Thursday announced $20.2 million in funding to support research and development efforts to convert algae into low carbon fuels and bioproducts.

A Texas-based CO2 removal (CDR) company announced on Thursday that it raised $32.3 million in Series A funding after a full year of operation.

The Canadian province of Alberta announced on Wednesday a C$40 million ($28.5 mln) investment that seeks to advance early- and late-stage low emissions products expected to increase the competitiveness of manufacturing and resource sectors in the region.