Carbon Pulse

Power generation covered by the EU ETS fell by more than one-fifth over the first nine months of 2023, compared to the same period last year, according to data collated by a research organisation, with weak demand and rising low-carbon output crushing fossil fuel burn.

A San Francisco-based direct air capture (DAC) company on Monday revealed its principles for "high-road" CO2 removal (CDR), which include barring the use of fossil fuel revenues and raising barriers for energy industry involvement.

The largest bank in the UAE has signed two strategic partnerships for the supply of "high-quality" carbon credits in a further step to becoming the UAE’s carbon trading hub.

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UK energy minister Claire Coutinho announced Monday a shortlist of companies selected to build small-scale nuclear reactors in the country, alongside measures to boost rooftop solar expansion and energy efficiency investment, as she emphasised energy security and job creation in a speech to her party.

Global companies need clearer guidance on what 'beyond value chain mitigation' is and which claims they can make make based on their actions, according to a consultation process carried out by the Science-Based Targets initiative (SBTi).

European carbon fell on Monday morning, dropping to an eight-day low as demand appeared to be retreating amid growing expectations that fossil burn will remain weak even at the start of the winter demand season, while energy prices also retreated as North Sea gas supply improved.

Wetland conservation has the highest potential impact for mitigating climate change when compared with alternative ocean-based solutions, according to researchers at a British university, with the report proposing cost-per-tonne levels across different activities to ensure the protection of such ecosystems.

An alliance of more than 20 organisations and companies has urged the Australian government to design a national restoration plan with targets and funding mechanisms to turn the tide as the nation’s ecosystem degradation and decline continue at scale.

The UAE has offered to host the UN climate summit for a second consecutive year with Russia blocking Armenia and Azerbaijan's proposals for the 2024 event, according to media reports, as the Middle Eastern nation's state oil company doubles its carbon capture goal, and major oil and gas firms are said to have agreed at a summit in Abu Dhabi to rally around a 2050 net zero target.

Financial institutions should use more diversified approaches and metrics to ensure an adequate evaluation of transition finance for the hard-to-abate sectors, an expert group of major Japanese banks has argued.

The renewable energy subsidiary of Indonesian state oil company Pertamina over the weekend struck a "green economy" agreement with a provincial government that includes plans to identify and develop nature-based solutions (NBS) to generate carbon credits.

The government of Japan has established three working groups to promote its nationwide decarbonisation initiative, including a task force to discuss the eligibility of carbon credits, laying the foundation for the world's fifth-largest CO2 emitter to improve an emerging domestic carbon market.

New Zealand’s Ministry of Primary Industries (MPI) has defended its move to introduce annual fees per hectare of forest and a range of service charges in the ETS, arguing the funds accrued will be essential to maintain the integrity of the scheme.

The US Commodities Futures Trading Commission (CFTC) lacks the expertise to create standards for the voluntary carbon market (VCM), a member of the industry’s private sector governance body argued, while some experts were not convinced the Council’s upcoming Core Carbon Principles (CCP) labelled credits will be the silver bullet the sector anticipated.

Vietnam has taken further steps towards a more comprehensive voluntary carbon market as tech and real estate firm CT Group launched the ASEAN Carbon Credit Exchange Joint Stock Company (CCTPA) in southern business hub Ho Chi Minh City.

A group of Australian scientists have raised “serious concerns” that Australian Carbon Credit Units (ACCUs) generated from soil carbon projects could be overinflated and based on non-additional activities, urging  the Clean Energy Regulator to release its data on how it calculates its crediting.

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

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The Chilean government on Friday published regulations setting out the rules for utilising offsets against the country’s $5/tonne carbon tax, including restrictions on geography and expiry.