Carbon Pulse

EUA prices were marginally weaker at midday on Tuesday as the prices continued to seek direction amid a slight downturn in energy markets and in anticipation of the publication of Commitment of Traders data on Wednesday.

There were 1,200 more buyers in the voluntary carbon market than last year, according to data from an analytics provider, as analysts calculate that if all active firms in the market were to offset just 1% of emissions, carbon credit demand would rise fourfold.

Current national climate action plans are still insufficient to limit global temperature increases to 1.5C, a UN report released Tuesday said, adding that the upcoming climate talks in Dubai must turn things around.

Hungarian fertiliser producer Nitrogenmuvek has closed its plant at Petfurdo, citing losses due to the country’s recently-introduced levies on free carbon allowance allocations, according to media reports.

Negotiators on behalf of the 27 EU member states agreed on carbon capture targets and obligations on Monday as part of the bloc’s legislative proposal to accelerate the EU’s clean technologies, according to a source close to the matter.

A South Korean ministry has teamed up with three domestic companies to reduce greenhouse gases in the livestock sector, with plans to secure carbon credits generated from biochar production, it announced Tuesday.

Traditional custodians of lands in West Papua have refused a carbon project in their forests, which they use for medicine and other purposes and suggest they were not adequately consulted about the project.

South Africa’s environment ministry has entered into biodiversity management agreements (BMAs) with three landowners in Limpopo province, offering tax incentives in exchange for the protection of privately-owned lions and rhinos.

Polluting facilities covered by Australia’s Safeguard Mechanism are yet to comprehend their new compliance obligations and have little to no understanding of how they will acquire Australian Carbon Credit Units (ACCUs) to meet them, a market consultant has said.

The world is lagging behind on almost every indicator of efforts to tackle climate change, including carbon pricing systems, according to a multi-researcher report that piles up concerns for the upcoming COP28 UN negotiations.

Indonesia’s 2030 power sector emissions are likely to be far higher than the goal it set itself under its recent Comprehensive Investment and Policy Plan (CIPP), a think-tank said Tuesday.

ICAO’s Technical Advisory body (TAB) has recommended that two carbon standards be immediately approved to supply credits to the global aviation sector’s carbon offset scheme for the 2021-23 pilot phase, while five others achieved conditional recommendations for 2024-26.

A daily summary of our news plus bite-sized updates from around the world.

Australia has raised five potential policy options in a review process to address carbon leakage, including a Carbon Border Adjustment Mechanism and integrating flexibility levers of the Safeguard Mechanism into a broader suite of policies.

The 439 million smallholder farmers globally are spending as much as $368 billion collectively of their own income each year on tackling the impacts of climate change, including on pest control, soil improvements, and biodiversity conservation, which significantly dwarfs the $230 mln pledged for the Adaptation Fund at last year’s COP27 and highlights the increased levels of climate support required by the sector that produces around a third of the world’s food, according to a study published Tuesday.

The Oregon Department of Environmental Quality (DEQ) released on Monday a set of proposed clarifications and modifications to a suite of climate programmes.

The US Department of Treasury on Monday provided an analysis of how federal policies to address climate change can uplift the economy.

The restoration and protection of global forests could sequester approximately 20 years’ worth of fossil fuel emissions, a new study has found.

Compliance entities in both California Carbon Allowance (CCA) and RGGI Allowance (RGA) markets moved their positions to this year's vintage as speculators did the opposite, while both groups added to their Washington Carbon Allowance (WCA) net length, US Commodity Futures Trading Commission (CFTC) data showed Monday.

Carbon markets must learn how to deal with the application of new practices and norms in clean cooking, and ensure we take the lessons from past actions without judging them against criteria that had yet to be invented, writes Owen Hewlett of Gold Standard.