Carbon Pulse

European carbon prices clawed back most of the previous afternoon losses in a quiet Thursday morning session, with the rally triggered by the first auction premium in eight days as traders continued to express bafflement at Wednesday's price action.

The UK energy secretary Grant Shapps announced plans to host an international summit on energy security in spring 2024, stressing the need to diversify from fossil fuels and hit climate goals.

A major carbon project developer in South Korea has been selected by the government to start off three Article 6 projects abroad, as the East Asian country is seeking to acquire international carbon credits and leverage the Article 6 mechanism of the Paris Agreement to realise its climate goals.

A former director of carbon and biodiversity non-profit Greening Australia has been appointed chief operations officer of a new Australian venture which is seeking to rapidly increase the supply of premium, nature-based carbon credits.

A New Zealand forestry group is urging the government to immediately halt its review on the ETS in order to restore stability to the carbon market and provide certainty for forest planning.

Carbon capture and storage could be easily scalable if offered similar cost incentives that have been provided to wind, solar, and EV industries, a gas industry whitepaper has claimed.

China’s CO2 emissions grew 10% annually in the second quarter of the year, bouncing back to the record levels from two years ago as widespread drought saw coal replace hydropower generation, according to analysis released Thursday.

Australia’s seed industry is in dire straits and in desperate need of funding to scale up if it is expected to live up to government and industry expectations of widescale ecosystem restoration driven by carbon and biodiversity markets, industry experts say.

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

US President Joe Biden’s administration on Wednesday announced it has invested over $13 mln in nearly two dozen carbon dioxide removal (CDR) projects across a variety of different technologies.

All-time California Carbon Offset (CCO) issuances surged past the 250 million mark this week as a new improved forest management (IFM) project earned a significant credit batch, according to state data published Wednesday, while the price premium credits with direct environmental benefits to the state (DEBs) rose into the double digits.

Carbon market standards body Climate Action Reserve (CAR) released its draft cement crediting methodology on Wednesday for public consultation.

Germany’s coalition government has agreed to raise its domestic carbon price for buildings and transport but to a level still below its pre-energy crisis upward trajectory, Bloomberg reported on Wednesday, citing anonymous sources.

Reductions in GHG intensity and modest production growth contributed to a maintenance of the absolute emissions of Canadian oil sands last year, even amidst an increase in output, according to new analysis released Wednesday.

Two Canada-based firms will construct a pilot carbon capture facility to sequester up to 1,000 tonnes of CO2 annually and support a wide rollout of removal technology across Canada, the companies announced Wednesday.

Poland has filed legal challenges to the EU's highest court against the bloc's planned second carbon market and carbon border adjustment mechanism (CBAM), the government said on Wednesday, the latest in a series of cases Warsaw has submitted over the EU's Fit for 55 climate policy package.

The slow-moving real estate sector is likely to have to increasingly turn to purchasing carbon credits, as it faces growing pressure to offset the residual emissions of developments and to operate in more emissions-regulated environments, even as many in the industry are sceptical about the credibility of carbon credit projects today.

A California-based developer is seeking out opportunities to invest in both project-level and larger scale jurisdictional avoided deforestation after earlier having secured up to $640 million in financing.

The future of the Kyoto-era Clean Development Mechanism (CDM) is to be discussed by governments at the upcoming COP28 climate summit in Dubai, a UN spokesperson told Carbon Pulse on Wednesday while confirming that it will still be possible to transfer and cancel CDM credits beyond a looming deadline, clearing up a point of confusion among stakeholders.

As lower costs and less need for government subsidies are sparking rapid growth in the offshore wind power sector, biodiversity considerations are likely to become decisive factors in the project selection process, according to industry stakeholders.