Carbon Pulse

Pennsylvania Republican legislators requested that a judge restore the preliminary injunction granted last week against the state’s RGGI-linked cap-and-trade regulation on Thursday, after an appeal of that ruling by Governor Tom Wolf’s (D) administration automatically lifted the ban.

Officials meet later this month to craft a new UN carbon crediting mechanism, facing a race against time to attract capital and attention amid a fast-growing voluntary market while not repeating past mistakes.

EUAs edged higher in thin trading on Friday morning as many participants were again largely on the sidelines, while energy markets retreated as European regulators urged more demand-reducing measures to conserve gas supplies ahead of winter.

China saw its domestic thermal power generation decline last month, while its gross domestic product (GDP) growth stalled in the April to June quarter.

The director and founding member of the Indigenous Carbon Industry Network Steering Committee, W Rioli, has died.

A Mitsui subsidiary has launched the first Japanese online marketplace for buying international voluntary offsets, with credits sourced from a California-based carbon removals platform.

Both price and volume dropped in China's carbon market over the past week, though regulators sparked some hope with traders that the ETS might be strengthened this year after revealing plans to legislate the market trading regulations.

An Australian-led fund has put the call out for proposals aiming to support blue carbon ecosystem restoration and conservation projects in the Indo-Pacific.

Chevron will have to continue to invest in carbon credits after its Gorgon LNG CCS facility in Western Australia has continued to fall short of its CO2 injection targets.

Australian Carbon Credit Unit spot prices have hit a downward slump in recent weeks, as traders and analysts highlight policy uncertainty in the market.

Indonesia expects to meet its 2030 goal under the Paris Agreement while at the same time earning over $170 million annually this decade from the sale of forestry carbon credits from emissions cuts that go beyond its NDC pledge.

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

A climate-tech VC fund has raised $70 million in its latest funding round, as it eyes more investment in early-stage entrepreneurs via its second fund.

A UK nature reserve has secured a partnership deal worth more than half a million pounds with a German multinational industrial manufacturer to launch and globally scale “critical market infrastructure” for voluntary nature-based climate solutions.

An independent advisory committee discussed key topics to address in its annual report to reform California’s cap-and-trade programme on Thursday, and will initially focus on incorporating its environmental justice (EJ) group's recommendations as well as looking at the design of the regulation after this decade.

California Carbon Allowance (CCA) prices continued to decline this week on the weight of bearish macroeconomic factors, while RGGI Allowances (RGAs) slipped to prices not seen since early May on uncertainty around the future of Pennsylvania’s membership to the regional carbon trading bloc.  

A global travel tech giant has invested in a Norwegian-based offset platform provider to help travellers buy carbon credits against their travel plans.

Italian oil and gas firm Eni secured more than 2 million carbon credits over 2021 from its investments in African nature-based projects, the company said in filings published this week.

A clean energy technology firm plans to retool an idled biomass plant into a dual-purpose facility – supplying emissions-free power while capturing and storing CO2 – the company reported this week.

As the prospect of a full cut-off of Russian gas into the EU looks increasingly likely, the European Commission is seeking ways to drastically reduce the bloc's industrial consumption to help build supplies ahead of winter without further crippling the economy.