Carbon Pulse

The super-rich are responsible for 16% of global CO2 emissions, about the same as the emissions from the poorest 66% of humanity in 2019, according to a report by an NGO, that recommended a 60% income tax on the top 1% to lower their emissions and raise funds for the energy transition.

Nations must go further than their current Paris Agreement pledges in order to be on track to meet targets to curb global warming or face a temperature rise of up to 2.9C this century, according to a UN report Monday that has prompted UN chief Antonio Guterres to urge leaders to "drastically up their game".

A new direct air capture demonstration unit will be installed at the UK's first and largest net zero industrial cluster in northeast England, resulting from a partnership between a local university and a climate tech company.

European carbon prices rose on Monday morning as the energy complex advanced amid lower temperatures and continued geopolitical uncertainty, though sources said speculative traders were working to limit increases as short-biased positions continue to dominate sentiment.

Japan has given the green light to the registration of 26 projects under the J-Credit scheme, which could generate roughly 3.1 million carbon credits over their lifetimes, as the country is seeking to expand the supply of domestically issued offsets.

A consortium of Japanese companies has signed with Malaysian oil and gas giant Petronas to commercialise a carbon capture and storage project by 2028.

China will promote the inclusion of biodiesel projects in the national carbon offset scheme, as part of a broader plan to popularise the applications of green fuels in the country.

An industry lobby group has urged the government of Papua New Guinea to establish a Customary Land Department in the country, saying it could both protect the rights and interests of indigenous communities and foster sustainable development.  

More than half the installed power capacity from the China-initiated Belt and Road Initiative (BRI) is coal and gas, though their share has declined over the past two years, a report by energy consultancy Wood Mackenzie has found.

A third round of plastic talks ended in Nairobi Sunday, with negotiators failing to achieve the goal of agreeing a draft treaty text for approval next year and observers blaming excessive influence from fossil fuel and petrochemicals lobbyists.

Carbon project developer Wildlife Works Carbon (WWC) has fired two staff members at the Kasigau Corridor REDD project in Kenya in relation to its ongoing investigation into sexual harassment and abuse allegations, the company said Monday, whilst apologising to the individuals affected.

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A new approach to deciding which areas get selected for protection can save almost twice as many mammals from extinction globally, a study has found, with more than half of the most crucial habitat located in just seven countries.

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A Canadian law professor argued in an op-ed Friday that the federal Liberal government’s carbon pricing carve-out for home heating oil could “imperil” the legality of the carbon price in itself, while other legal experts rebut the arguments.

Compliance entities preferred current year vintage California Carbon Allowances (CCAs) and increased their length, while financial players opted for next year's CCA vintage and decreased their net length, and both shed RGGI Allowances (RGAs) and Washing Carbon Allowances (WCAs), US Commodity Futures Trading Commission (CFTC) data showed Monday.

A US airline announced a partnership with with a Software-as-a-Service (SaaS) firm offering customers the option to purchase credits against flight emissions, in a press release on Friday.

Democrats in the Wisconsin Assembly on Thursday introduced a legislative package to accelerate climate action in the state, including energy efficiency measures, sustainable agriculture practices, and considerations for the social cost of carbon (SCC).

The UK government on Friday announced it will invest £4.5 billion in subsidies and grants for green industry from 2025, with just under half going to the electric vehicle sector and £1 bln to green energy including hydrogen.