Carbon Pulse

Initial recommendations for a joint Article 6.2 Crediting Protocol between Singapore, Verra, and Gold Standard advise synchronised, detailed reporting and credit traceability between UN, national, and private carbon registries – but avoid consolidation, giving each a distinct role.

A veteran carbon trader has joined a London-based energy transition investment firm as partner, Carbon Pulse has learned.

Standards body Cercarbono is working hard to be approved for Phase 1 of aviation offsetting scheme CORSIA and expects to receive first assessment by ICVCM for its Core Carbon Principles (CCPs) by year end, while it has also launched a circular economy programme with a first project in Bangladesh.

UN Regional Collaboration Centres (RCCs) channelling funds from the Clean Development Mechanism (CDM) have played a key role in developing notable Article 6 and carbon pricing initiatives in the Global South, with ongoing projects expected to yield further concrete outcomes in the near and medium term.

Approximately half of China's protected areas (PAs) overlap with priority sites for species preservation, indicating high potential for enhancing conservation efforts across the country, according to a new paper.

New and broader compliance nature markets are needed in the UK to meet the 2030 biodiversity target, as voluntary schemes and existing regulations are not sufficient to drive business investment, a London-based think tank has said.

European carbon prices started the week brightly, catching a boost from rising gas and power but failing to hold on the full extent of the increase even as the energy markets consolidated their gains.

The state-owned oil company (SOCAR) of COP29 host Azerbaijan has made some $8 billion of deals with foreign firms in the year leading up to the talks, according to analysis published Monday.

Chinese legislators have passed the country's first energy law, giving additional legal clout to the development of renewable energy and hydrogen.

The EU does not have a single operational CO2 storage site, but the ambition of storing 50 million tonnes of CO2 a year from 2030, and while oil and gas operators are likely to be responsible for delivering the target, they have less than a year, until June 2025, to confirm how many tonnes they will store and where. 

Two investors on Monday announced they had put an additional $100 million into a Colombian project to earn carbon removal credits from restoring degraded land.

It is Day 1 at COP29 as some 50,000 diplomats, observers, and other stakeholders descend on Baku, Azerbaijan. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (GMT+4).

The Bahamas envoy to the COP29 UN climate summit has called out Europe for seeking “business as usual” commercial relationships in bilateral green development talks, saying cooperation with China has yielded more results, particularly in areas like electric mobility.

Colombian carbon body Asocarbono and the National Federation of Timber Industries (Fedemaderas) have rejected a peer-reviewed study criticising Colombia’s afforestation, reforestation, and revegetation (ARR) projects.

The COP29 presidency is pushing for an early endorsement of key carbon crediting standards under Article 6, Carbon Pulse has learned, though is facing resistance from several countries.

COP30 host Brazil has announced a new UN climate plan that aims to reduce net greenhouse gas emission by 59-67% in 2035, compared to 2005 levels.

German technology firm Pyreg, which specialises in carbonising organic waste into biochar and renewable energy, is set to make its debut in Australia through a collaboration with the North West Hub Alliance, an infrastructure group involving John Holland, KBR, and Stantec.

Members of California’s ARB approved the Low Carbon Fuel Standard (LCFS) programme changes on Friday after hearing hours of public testimony, followed by several hours of debate, and a failed motion that sought to tighten provisions for avoided methane crediting.

Traders continue to build V25 California Carbon Allowance (CCA) open interest (OI), reducing V24 exposure over the last week, while also trimming Washington Carbon Allowance (WCA) net length ahead of a key programme repeal vote, according to data released Friday from the US Commodity Futures Trading Commission (CFTC).

The next climate finance commitment needs to address structural problems with the global borrowing framework in order to reduce the cost of capital for developing nations looking to attract investment for clean energy and climate adaptation projects, experts said Friday.