Carbon Pulse

Gas infrastructure company Australian Pipeline Association (APA) Group has joined a growing list of companies signalling their reliance on Australian Carbon Credit Units (ACCUs) to meet their emission liabilities under the reformed Safeguard Mechanism.

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

Any potential mandate for corresponding adjustments in the voluntary carbon market will depress activity in the space, though alterations to host country emissions inventories can still be useful in some instances, a conference heard Thursday.

California Carbon Allowance (CCA) prices reached a new record high following the announcement of state regulator ARB’s upcoming cap-and-trade rulemaking workshop, though were unable to sustain this gain, while Washington Carbon Allowances (WCA) moved downward amid continued hesitancy to participate in the market.

California gasoline sales in June nearly equalled year-ago levels as diesel consumption fell, continuing the trend of the state’s cap-and-trade covered transportation sector GHG output trailing historic levels through the first half of 2023, according to state data published Wednesday.

Negative media coverage continued to dominate discussions during a carbon conference in New York held this week, as stakeholders in the voluntary market reacted to fresh reports from a newspaper that has persistently criticised corporate credit use, with fears of reputational risk threatening to further depress buying activity.

A company founded by two forest carbon veterans has closed $11.5 million in funding from a Singapore-based investor to help develop projects in Southeast Asia.

California on Wednesday announced an international climate initiative targeting methane reduction and mitigation, as seven signatories from six countries participated in the launch event at New York Climate Week.

A US-based climate tech firm secured additional funds from an e-commerce company to implement nature-based carbon projects in Latin America, the companies announced Thursday.

Improved forest management (IFM) projects under California's compliance offset programme may not reduce emissions as claimed, researchers said Thursday in findings that add to a growing chorus of academic literature, though state regulator ARB pointed to potential biases in the new study. 

Soil carbon projects could prove a cheaper alternative to direct air capture (DAC) technology for CO2 removal buyers, according to developers in the space, who say testing of ground storage is making older sequestration methods more reliable.

A Swiss foundation is raising the fee it charges fuel distributors to help source a huge amount of international carbon credits required by a change in the nation's climate law.

Incentives work in persuading people to switch to renewables, Norway’s Prime Minister Jonas Gahr Store said Thursday, pointing out that by 2025 there will be no new sales of fossil fuel-powered cars in the country.

Biodiversity credits could lead to organisations making inaccurate nature-positive claims because the lack of standards makes assessing their veracity impossible, a report has found.

Experienced European corporate sustainability leaders would be willing to pay as much as 82% more for high-integrity carbon credits due to an understanding of the benefits they bring over low-quality units, according to a survey published on Thursday by a carbon credit marketplace. 

A UK state visit to France aiming to cement climate collaboration between the two countries has resulted in a series of nature-based investments from retail companies, investment houses, and not-for-profits.

Companies are being offered the prospect of both meeting their emissions reduction obligations and receiving a financial return by investing in the first company to receive the London Stock Exchange Group (LSEG)’s voluntary carbon market designation, according to the co-founder of the exchange company's first listed natural capital and forestry fund.

The cost of importing steel into the EU from India and China could rise by 49% and 56% respectively when the EU’s carbon border adjustment mechanism is fully implemented by 2034, analysts estimated in a report published on Thursday.

Exchange ICE on Thursday announced plans to launch a futures contract for CORSIA-eligible carbon credits, as it steps up competition to rival bourse CME.

European carbon prices were stronger at midday Thursday after a strong auction outcome triggered some buying, while energy prices were weaker after signs that the labour dispute at Chevron's Australian LNG facilities may be nearing a resolution.