Carbon Pulse

The European Commission has launched a long-awaited consultation on the EU's upcoming industrial carbon management strategy which is seen by stakeholders in the removals and carbon capture and storage space as key for shaping the future of such technologies in the bloc.

Allowance prices in China’s carbon market edged up over the past week with improved but still small trading volume, though the overall sentiment remains cautious amid concerns over the impact of the upcoming carbon border tax, experts said.

The number of Australian Carbon Credit Units (ACCUs) issued in the first quarter of 2023 fell by nearly half compared to the same period last year, according to the Clean Energy Regulator, though it estimated that the market is well supplied to 2030.

Japan's main bourse will set up a carbon market that initiates trading of domestically issued J-Credits around October this year, it announced Friday.

A Singapore-based green finance platform has teamed up with oil major Chevron to back a fuel oil transaction with carbon credits under a government-backed pilot programme that seeks to improve transparency and trust in sustainable finance.

The Australian government on Friday published its long-awaited implementation plan to reform the country’s carbon market, while it will launch its A$20 million ($13.3 mln) Carbon Farming Outreach programme next week.

The Asian Development Bank (ADB) has given the green light to a geothermal power generation project utilising the Japan Fund for the Joint Crediting Mechanism (JCM), which will be one of the largest projects registered under the bilateral mechanism so far.

Australia has committed A$2.6 million ($1.7 mln) to a partnership with Laos and the Global Green Growth Institute (GGGI) to help strengthen its capacity in carbon markets and participation in Article 6 markets.

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

A major US-based agricultural carbon offset firm distributed around $6 mln to US farmers and ranchers in its second year, it announced Wednesday, around a third less than was awarded in the programme's inaugural year.

California Carbon Allowance (CCA) prices inched higher this week on relatively low volume as post-auction selling ran into support from long-term buyers and options trading, while Washington Carbon Allowances (WCAs) continued to lose ground both before and after the scheme's Q2 auction result publication.

The Quebec environment ministry on Thursday shed light on its plan to ratify possible adjustments to its WCI-linked cap-and-trade system, as it also revealed further details on the topics the province and California will discuss at a carbon market rulemaking webinar next week.

The US and EU are approaching carbon dioxide removal (CDR) technology ramp up in starkly different ways, a panel heard on Thursday, reflecting on US efforts to disburse funding while the EU focuses on setting ground rules and definitions prior to initiating large-scale cash disbursals.

The European Commission may be prepared to adjust its proposed Nature Restoration law (NRL) and reconcile with some legislators that have vehemently objected to the bill, an exploratory non-paper circulated on Thursday suggests.

A California-based technology conglomerate has pre-ordered millions of nature-based removal credits from a fintech financier and carbon offset supplier in a partnership announced Wednesday.

The shift to claiming carbon credits as contributions to a host nation's climate action, rather than to offset emissions, is a welcome addition to climate action but still requires a focus on quality, a non-profit climate think-tank said Thursday, warning that the trend potentially risks lead to a downturn in funding projects in the Global South.

A climate impact verification platform has secured $37 million in series B funding to help in its efforts to scale activity through digitisation.

The voluntary carbon market is showing more alignment on integrity principles, according to the head of the demand-side Voluntary Carbon Market Integrity initiative (VCMI), eyeing a time soon when firms will make claims approved by his initiative via credit purchases tagged with a supply-side integrity label.

Switzerland will hold its first auction for 2023 carbon permits between Sep. 11 and 13, it announced Thursday.

A group of major investors has teamed up to launch a new agri-tech startup aimed at decarbonising rice cultivation in Asia via the voluntary carbon market.