Carbon Pulse

Power generation covered by the EU ETS fell by almost 100 TWh or around a fifth year-on-year in the first half of 2023, according to figures published by an analytics firm, as much lower output driven by demand destruction and a rise in renewables forced coal and gas out of the mix.

An US forest conservation organisation active in the voluntary carbon market (VCM) is campaigning in favour of two novel project financing concepts that it says would bring a wave of investment to credit-generating forestry projects, and help shift some of the risk burden away from developers, a senior member told Carbon Pulse.

The government of South Korea is to auction off 2.15 million KAU-23s at the upcoming monthly auction as planned as a new compliance cycle begins this month, after previous sales were cancelled due to sluggish demand in the market.

The Association of British Insurers (ABI) has launched guidance to help insurers and long-term savings providers become ‘nature positive’ in helping tackle the decline in the UK’s nature and biodiversity.

A group of Japanese companies have launched an alliance that aims to remove 30 million tonnes of CO2 by the end of this decade through the utilisation of international carbon credits, targeting the potential of African markets.

The spot price for NZUs fell lower on Tuesday amid weak volumes and high regulatory uncertainty, as a ban on new industrial coal boilers comes into effect later this month.

Soil carbon project developer AgriProve Solutions has partnered with industry group Meat and Livestock Australia (MLA) on three demonstration sites across the country’s east coast, as the issuance of Australian Carbon Credit Units (ACCUs) fall to more nominal levels.

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Analysts raised their California Carbon Allowance (CCA) average price forecasts for the second half of the year on expected policy developments attracting speculative interest, while maintaining RGGI Allowance (RGA) price estimates despite annual deficits seen over the next three years.

Adoption of carbon pricing in one country significantly increases the likelihood of similar policy adoption in other countries, especially neighbouring ones, a study has found.

Voluntary carbon market standards body American Carbon Registry published its revised crediting methodology on Monday, updating a prior version of project-based carbon credit issuance guidelines from December 2020.

RGGI Allowance prices softened this week amid heavy spread trading and as a major exchange-traded fund drew down RGGI holdings, though some participants noted the market was still holding up well.

Eastern Europe, including Western Russia, accounts for around 78% of the continent’s carbon sink, but the rate is decreasing due to changing land use and management and increasing natural disturbances, a new study reveals.

Standardised nature credits started to tick higher last week as the market waited for the much anticipated roll of the Xpansiv CBL N-GEO contract into new vintage eligibility years, but the voluntary carbon market overall was little changed in a week when the VCMI rolled out its claims code for corporate buying that aims to end allegations of greenwashing.

A forum established to aid British companies to better understand their impact on nature and biodiversity expects 2023 to be a pivotal year for the organisation, a senior member told Carbon Pulse, as it aims to ramp up both membership with a focus on informing firms in the country about upcoming 'net gain' legislation, the opportunities around crediting outcomes, and dealing with global nature disclosure rules.

UN Secretary General Antonio Guterres on Monday urged the global shipping sector and world leaders to keep levels of ambition high at a key UN shipping meeting this week by setting a 2050 net zero target, a 2030 target, and introduce a carbon levy.

A Japanese agritech company plans to launch the country’s first private-sector carbon registry by the end of the year, ahead of expanding to more methodologies, overseas markets from 2024.

European carbon prices were little changed as the third quarter got under way but most attention on Monday appeared to focus on the UK ETS, with prices jumping sharply after the British government published proposals to tighten the market from 2026.

Leaders in China's steel and cement sectors have accelerated their research work on emissions accounting and allowance allocation plans in preparation for the expansion of the national emissions trading scheme (ETS), amid rising pressures stemming from the introduction of the EU's carbon border tax.

A South Korean investor has signed a Memorandum of Understanding (MoU) with a provincial government in Mongolia and other participants to pave the way for projects that can generate carbon credits under Article 6 of the Paris Agreement.