Carbon Pulse

India will participate in ICAO’s CORSIA scheme for international civil aviation from 2027, the government announced late last week.

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

EU member states handed out a total of 56 million EUAs to industrial plants over the last two weeks, bringing the total issuance to just over 87% of this year's maximum, with just two countries yet to begin issuing.

The Global Carbon Lead role is high impact, it is front facing and it is integral to the success of the Low Carbon Strategist organization within Trading Analytics and Insight at BP.

Q4 net credit generation in California's Low Carbon Fuel Standard (LCFS) slightly backed off from recent highs, though substantial volumes of renewable diesel (RD) and electricity outweighed declines in biodiesel and ethanol to push the surplus bank to another all-time high, according to government data published Friday.

A Brazilian non-governmental organisation on Friday launched a new platform that extends its existing CO2 measurement system to forest restoration projects.

Financial entities stepped back from North American carbon markets across the board as allowance prices dipped, while compliance players took the opportunity to raise their California Carbon Allowance (CCA) and RGGI Allowance (RGA) net holdings, data from the US Commodity Futures Trading Commission (CFTC) showed Friday.

The ongoing third RGGI programme review should result in significantly tighter annual allowance budgets to reflect ambitious climate targets from member states, and also overhaul the prices and design of the power sector carbon market’s two reserve mechanisms, green groups and business organisations said in public comments published Thursday.

Standards body Verra on Friday said it is implementing a new carbon credit project review process that will shorten evaluation requests, while the organisation separately announced an agreement to help foster climate action in Zambia.

European Commission proposals on new “ecodesign” rules, including a 2029 phase out of sales of fossil fuel boilers, are likely to clash with national laws, it emerged from a consultation with member states this week.

A summary of legislative, regulatory, and policy action on carbon, clean fuel standard, and clean energy markets at the US federal and subnational levels this week, including New York incorporating cap-and-trade in its "conceptual agreement" on the budget, the rescheduling of a hearing for a bill to strengthen California's 2030 GHG target, and the Texas House of Representatives passing a carbon offsets bill. 

The portfolio of one of the world's largest private equity companies emitted 277 MtCO2e over the 10-year period to 2021, according to an investigative report published this week that calls for greater disclosure regulation of unlisted firms and recommends ways to stem the flow of dirty assets into private hands.

Standard Chartered has toughened its target for curbing greenhouse gas emissions associated with its loans to oil and gas companies, as the bank seeks to align with the IEA's net zero 2050 emissions scenario.

European oil and gas producers are set to face an obligation to help store CO2 at an annual rate of 50 million tonnes by 2030, as in the recently-proposed Net Zero Industry Act (NZIA).

Rising interest rates and inflation, increased supply chain costs, and a lack of consistent government tenders could be an obstacle to offshore wind development in the EU, despite widespread political backing and industry willingness, according to industry experts.

The Kent Wildlife Trust has outlined an ambition to increase wildlife abundance and climate resilience across 30% of Kent in new 2030 strategy, to be partly financed by nature-based solutions such as carbon credits, as well as potentially those which fall under upcoming countrywide biodiversity-supportive regulation, it said Friday.

European carbon prices were rangebound in light volume as the month of April came to an end with both EUAs and UKAs heading for their second monthly loss in a row, as traders appeared to adopt a cautious attitude ahead of the May Day holiday.

Carbon credit provider South Pole has proposed a new label for climate claims made by corporates in the wake of a backlash against terms such as 'carbon neutral', it announced in a statement made Friday.

Allowance prices in China’s carbon market inched up marginally over the past week with trading volume almost unchanged, though observers said recent international trends could accelerate the construction of the Chinese ETS.

Japanese oil and gas company Inpex has signed an agreement for the supply of what it claims to be carbon neutral gas with a local energy company, the two firms announced on Friday.