Carbon Pulse

GGGI is seeking a deputy head of unit to lead the MATS Program and further take a leading role in the development and management of the Carbon Transaction Facility (CTF).

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

California Carbon Allowance (CCA) prices rallied through a packed week of activity including a cap-and-trade public workshop discussing plans to increase programme stringency, options expiry, and macro markets rallying after a pause in the US interest rate hiking cycle, while Washington Carbon Allowances (WCA) initially lurched higher on the announcement of a small reserve sale in August.

Germany's economy ministry on Wednesday unveiled a draft of its long-anticipated climate action programme, easing the burden on big emitters while seeking to steer the nation towards its currently-out-of-reach 2030 emissions reduction target.

A Sierra Leone rewilding project run by a Canadian company had $2.5 million (C$3.3 mln) of its yet-to-be generated carbon credits pre-purchased by a Fortune 100 company, the developer announced Thursday.

Carbon credits should only used as a last resort in corporate climate action, and large corporates should prioritise eliminating or reducing sources of emissions over offsetting, the Organisation for Economic Cooperation and Development (OECD) has advised in updated guidance.

Moves to create a benchmark price for voluntary carbon credits are gathering pace, with Singapore-based CIX platform now exploring other categories in the market after launching its REDD avoided deforestation assessment last week, a company executive told Carbon Pulse on Thursday.

Spain wants to speed up a reform of the EU electricity market design as the country prepares to take over the rotating EU presidency next month, though the nation's July elections may spur a rapid change in course as the ruling administration trails in the polls.

*PREMIUM LISTING - The Director, ACMI, hired by GEAPP, will hold the core of ACMI work together during the initial phase of institutional set-up, coordinating the strategic implementation of all 13 Action Programme in the lead-up to COP28. They will be responsible for overseeing progress along each Action Programme, working closely with each Project Coordinator responsible for leading a specific Thematic Group to ensure the successful implementation of the ACMI roadmap.

A Canadian-based voluntary carbon project investor has launched an online marketplace offering credits from its portfolio.

Parties negotiating rules for the new Article 6.4 UN carbon crediting mechanism under the Paris Agreement managed to advance discussions on technical details during UN climate negotiations held in Bonn over the past two weeks, despite chaotic scenes that held up wider progress at the gathering.

Carbon credit certifier Gold Standard has partnered with the intergovernmental body Global Green Growth Institute (GGGI) to deliver a policy crediting framework than would enable country-to-country emissions trade at scale under Article 6 of the Paris Agreement.

European carbon rose for a seventh day on Thursday, setting a new two-month high as natural gas prices roared higher amid continued short covering after the Netherlands announced that a major gas field will be closed later this year.

The European Parliament's environment committee (ENVI) narrowly defeated a move to fully reject the highly disputed nature restoration bill on Thursday, but its full position is yet to be established because the voting process was suspended after several hours due to a lack of time.

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The European Commission has included biodiversity offsetting in its taxonomy of what counts as a sustainable investment, against the recommendations of the body advising the EU executive on green taxonomy rules.

Growth in China’s thermal power generation accelerated in May, outpacing the growth of total power output amid expanded coal production, despite the slower-than-expected economic recovery, government data showed Thursday.

The global steel industry could achieve net zero emissions by the early 2040s without risking stranded assets from existing coal-based blast furnaces, according to a new study by two European think-tanks. 

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

The Africa Climate Mobility Initiative (ACMI) and the Mozambique government this week launched a scheme aimed at integrating the country into global carbon markets and fostering sustainable economic growth.