Carbon Pulse

The equitable and successful implementation of New York’s forthcoming cap-and-invest programme also hinges on the state adhering to its climate plan framework to transition off gas and thereafter retire fossil fuel plants, an environmental justice (EJ) advocate said Thursday.

US asset managers’ climate ambition appears to have decreased since 2021, coinciding with a recent ‘anti-ESG’ trend in some parts of the country, although globally, firms are also far from being aligned to the Paris Agreement, a think-tank has revealed in its latest report.

A California-based company that uses microorganisms to transform greenhouse gases into sustainable materials that can be used in everyday products has raised $125 million from investors.

A Toronto-headquartered voluntary carbon financier saw its net income turn from red to the black during the second quarter after receiving its first credit issuance and subsequently monetising those units, the company announced Wednesday.

European carbon rallied on Thursday, ending a run of four consecutive declines as aggressive early buying drove prices up by as much as 2.9%, tracking similar sharp gains in natural gas, while UK carbon prices fell to a new record low in thin trading.

Some of the world's largest corporate retailers and carriers need to take responsibility for their emissions and step up to tackle climate change, as current efforts are significantly lacking in several areas, an environmental organisation alliance said in a report published Thursday.

A EU and UK carbon analyst will leave their role at an energy consultancy at the end of the week for a new position at a multinational oil and gas firm, they told Carbon Pulse on Thursday.

The body responsible for shaping the UN carbon market under Article 6 of the Paris Agreement has opened another consultation on the methodological guidance under which projects may receive credits, focusing on baseline, additionality, and leakage assessment requirements.

The government of Japan has commissioned three companies to jointly conduct a feasibility study on the establishment of an overseas carbon capture and storage (CCS) value chain as part of the country's broad decarbonisation strategy, which includes awarding carbon credits for domestic and international CCS projects.

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China's regional governments approved more than 50 gigawatts (GW) of new coal power during the first half of this year, showing no sign of a slowdown in coal-based capacity expansion amid renewed worries over the country's ability to tackle climate change, analysts have found.

The Australian government has released draft changes to the treatment of coal mines under the Safeguard Mechanism, however analysis estimates it will only have a marginal impact on future Australian Carbon Credit Unit (ACCU) demand.

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Analysts have left their short-term forecasts for EU carbon prices more or less unchanged despite a large drop in carbon-intensive power generation and sluggish demand from industrials, while again raising their longer-term outlooks and significantly slashing their expectations for UK carbon costs.

A Singaporean tech company has announced plans to produce biochar from sugarcane bagasse waste in Indonesia, and aims to pay for it by issuing CO2 Removal Certificates (CORCs), it announced Wednesday.

Another forestry-based California Carbon Offset (CCO) project in neighbouring Oregon will be cancelled after wildfires ravaged the site several years ago, according to a media report Wednesday, which would make it the second improved forest management (IFM) undertaking in the Beaver State to fold.

The Oregon Clean Fuels Program (OCFP) slipped back into net quarterly credit drawdowns during the first three months of the year, as new highs in quarterly gasoline deficits beat out record renewable diesel volumes, according to state data published Tuesday.

Mandates and regulations must accompany the clean energy incentives provided by the Inflation Reduction Act (IRA) in order for the US to hit its Paris Agreement GHG reduction commitment, according to analysis published Wednesday.

CO2 output under the Massachusetts Global Warming Solutions Act (GWSA) cap-and-trade system remained at three-year lows through the second quarter of 2023, according to data updated this week.

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