Carbon Pulse

The Malaysian government has released the first part of its Energy Transition Roadmap, identifying 10 flagship projects that it says will help generate major investment opportunities to help the country achieve its climate goals.

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

California will factor in the viability of nascent low-carbon technology roll out and importance having a permit bank as it weighs steeper cups to cap-and-trade allowance budgets over the remainder of the decade, a senior official with state regulator ARB said Thursday.

Using North American automatic programme adjustments in the design of New York’s cap-and-invest scheme, rather than the supply-responsive approaches that their European counterparts use, would better serve to ensure programme stability, experts said Thursday.

California Carbon Allowance (CCA) prices barnstormed as much as 10% over the past two days to new record highs after the state published larger-than-expected scenarios for cutting cap-and-trade allowance supply, while Washington Carbon Allowance (WCA) values climbed ahead of the programme's permit reserve sale next month.

A top EU court has ruled against a Swedish company’s bid to stay in the EU ETS despite its exclusively biomass-fueled operations that had resulted in the facility having almost no reportable CO2 emissions.

Three EU governments are trying to direct public money towards more fossil fuels, rather than steering away as the 27-nation bloc’s overarching climate strategy requires, a report showed on Thursday.

A “good number” of carbon credit projects will fail to attain the ICVCM's Core Carbon Principles (CCP) integrity label, but some market experts judge there to be still too much wriggle room and ambiguity in the cross-stakeholder body's newly-released assessment framework.

Around 15% of the bonds to be issued by the United Development Programme (UNDP) to help support tiger ecosystem protection in four Asian countries could be monetised through the sale of “high integrity biodiversity credits”, depending upon the ability to de-risk the credits through guarantee provisions.

Multiple Europe-headquartered power generation firms reported a significant drop in EU ETS-covered output in quarterly results published late Wednesday and Thursday, while a large steel producer became the latest to flag a weak demand outlook due to wider macroeconomic uncertainty.

The British government has published provisional price tiers for its statutory biodiversity credits as part of upcoming net gain legislation, with the final values to be set by the Department for Environment, Food and Rural Affairs (Defra) and subject to periodic review.

Lawsuits are an increasingly important tool for holding governments and corporations accountable on climate, according to a report published Thursday by the United Nations Environment Programme (UNEP).

The EU has contributed an additional €25 million to the Food and Agricultural Organization’s Sustainable Wildlife Management (SWP) programme, with the funds set to benefit African biodiversity over the next six years.

European carbon prices stabilised at moderately lower levels on Thursday morning as the market appeared to find buying support after dropping by as much as €3.20 on Wednesday, while natural gas extended yesterday's sizeable losses as the August contract expiry neared.

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Sixteen native NGOs and associations on Thursday came out in favour of a contested carbon offset deal in Malaysia’s Sabah state that officials last year signed with a Singapore-registered shell company.

Japan's proposed timeline for a domestic carbon pricing mechanism could be too slow for the country to get aligned with its Paris Agreement goals, given the current emissions trajectory, a report has found.

The Taskforce on Nature-related Financial Disclosure (TNFD) should make greater use of the Mean Species Abundance (MSA) metric in its framework as it is already used by many companies and would offer a number of benefits, according to a position paper issued by a group of European companies this week.

Miner Rio Tinto has written down the value of its Australian alumina refineries as it factors in the cost of buying Australian Carbon Credit Units (ACCUs) under the government’s reformed Safeguard Mechanism, saying it will continue to need to rely on offsets to meet its decarbonisation targets.

An Australian bank has entered into a strategic alliance with a soil carbon project developer, financing a pilot project that will generate Australian Carbon Credit Units by pre paying for the first credits generated under the project, it announced Thursday.