Carbon Pulse

The European Commission is seeking input on existing methodologies for certifying industrial carbon removal practices, as the bloc moves towards establishing a voluntary framework for these activities.

California gasoline consumption held steady in April while diesel sales dropped, according to recently published state data, leaving transportation sector cap-and-trade emissions to still trail year-ago levels.

Chinese e-commerce giant Alibaba Group on Monday announced a 12.9% reduction in net carbon emissions from its direct operations over the past fiscal year, also revealing for the first time progress towards its ‘Scope 3+’ goal.

The rally in RGGI Allowance (RGA) values continued through another week with a high level of spread activity leading to the largest weekly transaction volumes on ICE, in step with the rally in California Carbon Allowance (CCA) values and global macro positivity.

Climate contributions divorced from offsetting claims are necessary to increase the number of “high-hanging fruit projects" in cost-prohibitive sectors and unlock deep decarbonisation, a think-tank said Friday.

Carbon credit prices drifted lower generally in the voluntary market over the past week amid the over-supply of available units, but investment continued to pour into certain sectors to underline a positive outlook amid a steady rise in corporate net zero pledges.

The French parliament has voted through a green industrial law that is expected to open up ecosystem restoration projects in the country to biodiversity and carbon credit stacking.

The result of general elections in Spain on Sunday has thrown the country into political disorder that could last for months and spill over into EU climate policy.

Parts of Europe have seen ETS-covered fossil generation spike due to higher demand for air conditioning after extreme heat has swept across Southern countries such as Greece, Spain, and Italy, as analysts point to sustained consumption this summer with temperatures set to remain elevated.

European carrier Ryanair has outlined the main climate-related risks to revenues in a 2023 sustainability report published Monday, with increased carbon pricing cited as "most impactful" on strategy in the firm's net-zero outlook.

European carbon prices gave up early gains on Monday morning to stand modestly weaker at midday, as prices consolidated after six successive days of gains ahead of August's annual drop in auction supply, while gas prices held on to early advances.

Chemical production in the EU is on course to decline by about 8% in 2023 compared to the previous year, with no imminent recovery of demand in the region, a large industry group has warned, as it proposes a new climate manifesto for Brussels to follow during the next legislative cycle to keep the ETS-covered industry competitive.

One of the largest energy solution providers in South Korea is planning to expand its renewable energy business in Vietnam and accordingly secure carbon credits, it announced on Monday.

Australia’s Productivity Commission used its latest report to rebuke the idea of the government introducing a Carbon Border Adjustment Mechanism, claiming it to be unnecessary and protectionist for local industry.

South Korea has launched a funding programme to encourage companies to conduct REDD+ feasibility studies for the private sector, as the country has pledged to secure more forest carbon credits abroad to realise its climate goals.

Australia has committed A$50 million ($33 mln) to support clean energy supply chains in the Indo-Pacific the government announced over the weekend, as the issuance of Australian Carbon Credit Units (ACCUs) rose, according to a regulatory update.  

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

The public defender of a forest-rich Brazilian state has launched legal action against several organisations and a local government over allegations of land theft linked to a REDD+ project.

G20 energy ministers wrapped up their meeting in Goa on Saturday without any progress on ambition to ratchet up renewable energy production and cut the use of fossil fuels.

The Forest Carbon's Blue Carbon Program Manager will be responsible for the overall implementation and effective project management of the program's activities in Papua.