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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 18 min 12 sec ago
European cement group targets 37% drop in production emissions in updated net zero plan
The European Cement Association (CEMBUREAU) aims to reduce production emissions 37% by 2030 and by 50% down the value chain, as per an updated net zero roadmap published Tuesday.
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Major Japanese bank begins study on digital carbon credit payments
One of Japan's leading financial groups is participating in a joint study that explore the potential for utilising domestically produced stablecoins for digital carbon credit payments.
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Euro Markets: Midday Update
European carbon prices gave back some of the previous session's steep gains in a quiet and relatively illiquid session on Tuesday morning, as energy markets also retreated after Monday's robust increases, while UK permit prices continued to trade around their recent four-month high.
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Carbon removal certification bodies merge in bid to shore up standards
Two carbon removal standards focused on biochar have partnered up with the aim of strengthening their certifications to keep pace with the fast-growing sector.
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Voluntary carbon market focus shifts away from REDD towards forestry management in developed countries, study finds
The international voluntary carbon market has seen a priority change in offset project implementation over the past decade, with forest management solutions in developed nations attracting more attention from developers at the expense of REDD+ projects, researchers have found.
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Australia opposition party’s lack of stance on Safeguard Mechanism causing headaches for investors, participants
Australia’s opposition Coalition needs to make its stance on the Safeguard Mechanism clear in order to provide stability and confidence for participants and investors, a conference heard Tuesday.
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Consent and engagement must be ongoing, First Nations people say of carbon projects
Traditional Owner consent for a carbon project in Australia shouldn’t be a one-time event but an ongoing process where consent is asked for and given “again and again”, a conference in Cairns heard Tuesday.
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Australia’s biggest CRC looks to help agriculture sector reach net zero
An Australian research group will begin receiving A$87 million ($57 mln) in federal government funding in July as part of efforts to transition the country’s agriculture sector to net zero emissions, a conference heard Tuesday.
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Australia launches interim process for ACCU method proposals
The Australian government on Tuesday put the call out for expressions of interest (EOI) for market participants to propose methodologies to generate Australian Carbon Credit Units (ACCUs), in line with recommendations of the Chubb Review.
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Global biodiversity fund ringfences over $70 mln for new round of grants
The Global Biodiversity Framework Fund (GBFF) has approved a new round of grants, planning to deliver over $70 million for 18 new projects.
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CO2 removal firm raises $50 mln, commences operations in its first DAC facility
A US-based CO2 removal company on Monday announced the closure of its series B funding following a $50 million raise, also revealing that its first direct air capture (DAC) facility is now operational.
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RGGI Market: RGAs soar past $22 on higher power demand forecast
RGGI Allowance (RGA) prices reached fresh highs late last week amid market participants' anticipation of increased power demand this summer.
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Migratory fish populations have declined by over 80% since 1970, study says
Migratory fish populations have fallen by 81% between 1970 and 2020, mainly due to the degradation, change, and loss of habitat, a study has found, calling for strengthening of monitoring efforts and enhancing river protection and restoration efforts.
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Voluntary carbon market at “inflection point”, says Integrity Council chief
The chair of the Integrity Council for the Voluntary Carbon Market (ICVCM), which last year unveiled the Core Carbon Principles (CCPs) that are intended to enhance the integrity of voluntary carbon credits, has said that the adoption of the CCPs marks an “inflection point” in the future of the sector.
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INTERVIEW: One insurer’s aim to leapfrog hurdles in assigning risk to voluntary carbon methodologies
A statistical approach that relies on many variables and deep data is emerging within the world of carbon insurance, such as the attempt by one insurance startup to assign risk to project methodologies, though the nuances of individual cases will still require judgment calls.
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VCM Report: Sluggish voluntary carbon spot market starts to pinch
News broke that Verra has temporarily suspended the registry account of the troubled Rimba Raya project on Monday morning to cap a dreary previous week for the voluntary carbon spot market that is still undermined by thin liquidity and low prices.
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EU CBAM could shrink South Africa’s exports 10% by 2050 -central bank
South Africa’s economy could suffer significantly if the EU’s carbon border adjustment mechanism (CBAM) is extended to all sectors, leading to a 10% drop in exports by 2050, according to the country’s central bank.
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Biodiversity credits should learn from voluntary carbon, require regulatory oversight -investors
The evolving market for biodiversity credits should seek to avoid some of the pitfalls of the voluntary carbon market (VCM), while capitalising on the interdependencies between climate and nature, said speakers during an event in London on Monday.
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Oxford researchers outline five steps to keep UK on track for net zero
A team of researchers at the University of Oxford has outlined five policy interventions needed to keep the UK on course for net zero goals, warning against an over-reliance on carbon taxes, a solution often advocated by economists.
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Aramco, US-based climate tech firm enter into MoU to advance DAC
Oil giant Saudi Aramco and a US-based direct air capture (DAC) developer unveiled a Memorandum of Understanding (MoU) Friday intended to advance the nascent carbon removal (CDR) technology.
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