Carbon Pulse

A nature capital alliance in partnership with a UK-government fund, has opened a call for applicants from ocean-based projects, as it aims to drive investment of over $500 million into the space by 2030. 

Chinese regulators will likely prioritise to nature-based solutions (NBS) and small-scale renewable energy projects once the national offset programme is brought back to life given growing concerns over additionality, experts told a conference in Singapore Tuesday.

Additional sales of EU Allowances from the Innovation Fund for the bloc's REPowerEU plan will only start in 2024 after the auctioning regulation is updated, a source at the European Commission told Carbon Pulse on Tuesday, thereby withholding up to 40 million tonnes in additional market supply that had been anticipated by experts this year.

Governments seeking to regulate corporate climate claims in a bid to clamp down on greenwashing risks creating conflicting messages from global companies that span different jurisdictions, VCM panellists told the Carbon Forward Asia conference in Singapore on Tuesday.

A US-based forest carbon tech firm is stepping back from project development and shifting strategic focus, laying off nearly half of its remaining workforce after making similar cuts last year amid the global voluntary carbon market downturn.

The independent Papua New Guinea Biodiversity and Climate Fund has issued a second funding call for projects aiming to earn protected area status and help the megadiverse country reach its international biodiversity commitments.

An asset management company has partnered with a fintech firm to invest in a Cambodian biochar facility that will then advance purchase the resulting 16,000 carbon removal units in the project's first phase, the firms said in a release.

Countries in a position to export carbon credits, especially in the Asia-Pacific region, are increasingly willing to participate in international carbon trading under the Paris Agreement but will need assistance with the complex rules as well as how to go about their implementation, panellists at the Carbon Forward Asia conference said on Tuesday.

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

Analysts have raised their short-term forecasts for EU carbon prices, but warned of coalescing bearish pressures including from increasing permit supply and weakening fundamentals.

Mitsubishi has launched a $1-billion fund in collaboration with several partners, focussing on decarbonisation through the development of climate tech, it announced Tuesday.

Singapore-based LNG trader Pavilion Energy has announced a partnership with a climate tech company in Japan to promote decarbonisation in the two countries through the use of offsets.

Analysts nudged their California Carbon Allowance (CCA) 2023 average price forecasts higher on market expectations of future programme tightness but expect near-term price declines into the May WCI auction, while they maintained existing RGGI Allowance (RGA) price forecasts in a placid market.

Washington Department of Ecology (ECY) filed a response on Friday in the lawsuit between the state and Chicago-based power firm Invenergy, where the ECY argued Invenergy is not similar to utilities receiving free allowances. 

CO2 emissions in the 11-state RGGI cap-and-trade system were primed to have fallen by more than 10% during the first three months of the year even with several big-emitting power generators having yet to report their output, according to data published Monday.

RGGI Allowance (RGA) values reversed a week-long price decline on Friday as stakeholders urged member states to tighten the programme's allowance caps and incorporate a slew of reforms, even as data showed first quarter emissions sank lower compared to last year.

A Canadian-based carbon marketing and project development company announced on Monday that it had entered into an agreement to purchase 50,000 carbon offsets from low carbon commodity brokerage firm SCB Group, while also introducing a new funding model to expand popular projects.

*PREMIUM LISTING - The Registry Architect is a technical role within the ACR Registry Operations unit, responsible for leading technical projects, serving as a primary point of contact to our contracted registry technology service provider(s), and contributing to all aspects of registry function and service to ensure that projects move through the process efficiently, while ensuring regulatory compliance, technical rigor, quality, and transparency.

One of Brazil’s most forested states has resumed plans to auction millions of hectares of public land to generate voluntary carbon credits and help avoid deforestation.

Australia and Papua New Guinea have signed an outcome statement that focusses on climate finance and carbon market participation and an action plan for the Indo-Pacific Carbon Offset Scheme (IPCOS), as a corruption investigation has led to arrests of PNG climate officials.