Carbon Pulse

Electric cookstoves will need a carbon credit price of $30-50 to enable the fledgling market to thrive, according to one of the leading manufacturers and project developers in the market that is set to open a new factory in Nigeria next month and is planning to sell commercially in the future.

The Q3 RGGI cap-and-trade auction cleared just shy of its all-time record settlement and in-line with broad market expectations near the secondary market values, although compliance participation remained subdued, according to results published Friday.

Stakeholders have welcomed the significant progress, notably on draft recommendations for removals, made by the UN body responsible for shaping the carbon crediting mechanism under Article 6 of the Paris Agreement ahead of a crunch meeting next week, while also highlighting the pressure of using the limited remaining time to finalise key aspects of the guidance, ahead of year-end negotiations at COP28.

A Biodiversity Risk Assessment (BioRA) tool has been launched by technology company Ceven that is free to use at its basic level.

Green development and climate finance will be one of the priorities of this weekend's G20 leaders' summit, according to G20 Sherpa Amitabh Kant ahead of the two-day meeting in New Delhi this weekend despite climate change goals emerging as one of the major stumbling blocks. 

Mitsui OSK Lines (MOL) and Shell Marine Products Singapore have agreed to collaborate on maritime decarbonisation efforts, including advancing cleaner fuel-related measures that could have carbon market implications.

While the 2015 Paris Agreement has inspired significant progress in response to climate change, the world is not on track to meet the pact’s long-term goals, according to the UN’s first-ever stocktake of global efforts to tackle the crisis, released Friday.

A senior leader at Shell on Friday appeared to reinforce the company’s support for purchasing nature-based carbon credits, despite the oil major having dropped public targets for its credit-buying programme.

European carbon prices advanced moderately in Friday morning trade, threatening to snap a run of six successive daily losses, as the market was supported by a sharp rise in gas prices after workers at two Australian LNG facilities began strike action.

A London-based commercial bank with significant Asia presence is growing its in-house expertise on climate tech in order to identify the early-stage companies with potential for the biggest climate and commercial impact, a conference was told this week.

China’s national carbon markets saw stable prices over the past week with a surge in trading volume as the ETS compliance deadline is approaching, with experts saying that recent policy change to introduce allowance vintages could shape corporate preferences.

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.