Carbon Pulse

Quebec will publish draft amendments to its cap-and-trade programme in early 2025 on request of a delay from California, the Quebec environment minister told Carbon Pulse on the sidelines of COP29.

The Madagascar government is planning to sign its first-ever bilateral agreement under Article 6.2 of the Paris Agreement to generate Internationally Transferred Mitigation Outcomes (ITMOs) with South Korea soon, as it plans to operationalise its Article 6 regulatory framework by Jan. 2025, an official told Carbon Pulse.

Brazil's national development bank has formally launched a climate investment platform that it said already has up to $10.8 billion in capital that could be mobilised, in support of its newly updated Paris Agreement pledge.

Transition credits could be a viable way to finance the early phase-out of coal-fired power plants in Asia, but familiar risks around project permanence, and buyer appetite are seen as major barriers to scaling up the practice, a panel discussion heard at COP29.

A report has found that expansion of carbon trading systems will see emissions covered by pricing mechanisms rise to 34% over the next five years.

Fourteen countries, including the US, France, and the UK, issued a statement at COP29 in Baku on Thursday affirming their commitment to scale up finance for forests, based on 'high-integrity' carbon markets.

A White House official said Thursday that the US has had active and productive negotiations with Chinese delegates over reducing non-CO2 greenhouse gases (GHG), adding that Beijing has signalled interest in implementing regulatory controls over non-CO2 gases similar to those in the US.

Some 5% of recent planning applications have complied with England’s biodiversity net gain (BNG) rules, in a positive sign the legislation is working, a lawyer has said.

Alberta government and industry were sceptical of the viability and effectiveness of Canada’s emissions cap on its oil and gas sector, highlighting instead the success of provincial emissions reductions efforts on the sidelines of COP29.

Low- and middle-income economies invested $2.3 trillion in their energy systems last year, yet only 14% of that spending outside China went towards low-carbon solutions, a new report has found.

The government of Para state in Brazil is expected this Friday to launch a long-awaited call for tenders to take on an ecological restoration-oriented forest concession, which will generate carbon credits from the reforestation process.

A large home retailer is investing €1.5 billion in renewable energy at its sites to phase out the direct use of fossil fuels under a target to reduce its operational carbon footprint 85% by 2030.

The Central Electricity Regulatory Commission (CERC), regulator of the power sector in India, this week released guidelines for the buying and selling of carbon credit certificates (CCCs) on power exchanges.

The UK is poised to ban new coal mines, soon after becoming the first industrialised country to end coal-fired power generation, the government announced on Thursday.

A global group of securities regulators on Thursday published new recommendations aimed at improving transparency and reliability in the voluntary carbon market (VCM), while also unveiling a partnership with the World Bank.

The Norwegian government is advocating clean cookstoves be included in the outcome statement of COP29, a side event at the Baku climate conference heard Thursday.

A Singapore-based tech firm is developing a framework for mass-producing corals and automating the farming process, considering generating carbon or biodiversity credits within two years, the company told Carbon Pulse.  

Ghana has mobilised $800 million by hosting carbon projects through Article 6.2 of the Paris Agreement, President Nana Akufo-Addo revealed at COP29, precipitating emissions cuts through bilateral agreements with primarily European buyer countries.

European carbon prices posted healthy gains on Thursday morning, tracking a substantial rise in natural gas as traders reacted to news headlines that added uncertainty to the supply outlook.

Latvia is failing to use its emission allowance funds cost-effectively, and available funding is not being used, according to a state audit released on Wednesday.