Carbon Pulse

The European Parliament's environment committee (ENVI) on Tuesday formally adopted a provisional political agreement to phase out by 2050 fluorinated greenhouse gases (F-gases) and adopted a draft report to strengthen EU CO2 emission standards for new heavy-duty vehicles.

The European Commission unveiled plans to bolster the EU's faltering wind power capacity rollout on Tuesday, while reporting that the bloc was on track in its efforts to exit Russian fossil fuels despite patchy national progress on decarbonisation.   

RWE reported a drop of almost a quarter in its ETS-covered thermal power output over the first nine months, according to preliminary results published on Tuesday that showed an acceleration of coal decline over the past quarter.

A new study produced by a collection of NGOs, think tanks, and academics said that international commitments to halt deforestation have not yet been backed up by sufficient action or funding to tackle the challenge.

Three sets of guidance for measuring biodiversity covering direct operations, supply chains, and ecosystem conditions have been launched by the EU Commission-funded Aligning Accounting Approaches for Nature (Align).

China on Tuesday published methodologies for four project types that will be eligible to generate Chinese Certified Emissions Reductions (CCERs), providing clarity for developers and investors.

European carbon prices made a small recovery on Tuesday morning after the market had dropped to a two-month low on Monday, as prompt gas prices ticked up despite a generally bearish fundamental outlook and weaker TTF prices further along the curve.

Biodiversity over an area equivalent to at least 3,000 hectares was supported by ASN Impact Investor’s biodiversity fund last year, according to the “first” measuring of positive nature impact by an investment manager, it said.

The bifurcation of the global oil patch grew this week once again as Chevron bought its US peer Hess for $53 billion, giving it control of billions of barrels of reserves offshore Guyana, one of the most prolific oil provinces in the world, and signalling American oil companies have very different views of the energy transition compared to other independent majors.

The EU’s first draft legislation defining a framework for certifying carbon removals was backed almost unanimously during a vote in the European Parliament’s cross-party environment committee on Tuesday.

Global development mechanisms like the Green Climate Fund (GCF) have become too easily dominated by multilateral financial organisations at the expense of the small and vulnerable nations they are designed to support, an academic paper has claimed.

The Shanghai government will auction off 1 million carbon allowances under its emissions trading scheme at the end of this month, with the price floor likely to be set below market levels.

EU nations' updated National Energy and Climate Plans (NECPs) are largely inadequate not only to align with the Paris Agreement's 1.5C global warming limit, but also to comply with the bloc's 2030 target to cut emissions by 55%, a coalition of NGOs warned on Tuesday.

Stronger policy support for carbon removals and capture, utilisation, and storage (CCUS) technologies is required to scale capacity to meet 2050 net zero goals, according to the International Energy Agency’s flagship energy report, which also forecasts peak fossil fuel demand this decade based on the current outlook.

Australia’s nature repair market bill will not be re-introduced to parliament until 2024 at the earliest, after the senate committee examining the legislation requested another extension to its reporting deadline.

A groundbreaking analysis, the first of its kind to globally count and map different tree leaf types, has revealed that needle-leaf evergreen trees make up the largest share of the world's tree population, but broadleaf evergreen trees contribute the most to fighting climate change.

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

Two speculative entities have filed appeals to the Washington Department of Ecology (ECY) after the agency prevented them from participating in past cap-and-invest auctions, a media outlet reported Monday, adding to the department’s growing legal challenges to its WCI-modelled carbon market.

Numerous obstacles are currently preventing US agriculture and forestry sector stakeholders from participating in the voluntary carbon market, though the federal government can take several steps to support the development of the space, according to a Department of Agriculture (USDA) report published Monday.

The Washington Department of Ecology (ECY) on Monday provided an overview of potential alterations to its cap-and-trade system it may request should the agency decide to link with the broader California-Quebec market, including revisions to auction purchase limits, offset eligibility, and electricity emissions reporting.