Carbon Pulse

South Korea has outlined broad plans to introduce a certification system for clean hydrogen, covering the setting of standards and providing incentives to enable low-carbon hydrogen to contribute to the country’s long-term climate policy goals.

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

To strengthen our project portfolio, we are seeking Expressions of Interest (EOI) from consultants with expertise in Agriculture, Forestry, and Other Land Use (AFOLU) land restoration projects, with a focus on agroforestry and sustainable land management.

California Carbon Offset (CCO) issuances climbed for the second period in a row, though year-to-date levels continue to trail the same period in 2022, according to state data published Wednesday.

LNG import capacity planned by EU governments would increase the bloc's greenhouse gas emissions by 950 MtCO2e per year, equivalent to 32% of the total emissions in 2019, according to estimates in an NGO report published Thursday.

California Low Carbon Fuel Standard (LCFS) credit values dropped from a six-month peak this week as a recent financial-led rally petered out and market participants prepared for another steep quarterly credit generation figure.

Renewable energy generated more of the EU’s electricity than fossil fuels over winter for the first time, with energy trends subduing fears that coal generation was ramping up in the face of a move away from Russian gas, according to analysis published Thursday.

The Colombian environment ministry is developing new regulations covering additionality requirements, standards bodies, and community involvement for offsets under the country’s carbon tax, but the first draft of the rules has not been written after nearly a year of preliminary meetings, experts told Carbon Pulse.

Europe's oil and gas sector is already quickly advancing its project pipeline for underground CO2 storage, a panel heard Wednesday, with experts touting no shortage of options as the EU hones its target of reaching 50 million tonnes of annual CO2 injection capacity by 2030.

A pioneering waste-to-energy carbon capture plant in Norway has been suspended after running over budget.

Utility RWE posted a significant drop in generation from its German lignite power plants in the first quarter of 2023, while gas burn from its assets covered by the EU's carbon market increased by one-third year-on-year, it reported in preliminary output data published Wednesday.

A US commercial-scale direct air capture (DAC) plant will hold its groundbreaking ceremony this week, a panel heard Wednesday, with the facility slated to capture up to one million tonnes of CO2 a year once fully operational in coming years.

Digitally-linked biogas clean cookstove projects could pay for themselves in five years despite the high set up cost, according to an industry-commissioned paper that outlines how technological advances could build buyer confidence in a carbon credit sector shaken by over-crediting concerns.

The European Parliament’s environment (ENVI) and industry (ITRE) committees on Wednesday voted to strengthen a law to curb methane emissions from the energy sector, seeking to include imports while demanding a future proposal to reduce output of the potent warming gas in other sectors.

EU ETS trading volume dropped year-on-year by 26% in 2022 compared to the 2021 record of nearly 10 billion allowances, a report revealed on Wednesday.

The public-private LEAF Coalition on Wednesday announced it has approved two jurisdictions in South America to supply REDD credits issued from a global offset standard, as it unveiled the next call for governments to submit proposals.

Consultancy KPMG and ESG information provider Context Labs have announced a partnership aimed at assisting companies measure and reduce their environmental footprints through the use of distributed ledger technology, advanced climate data, and analytics powered by machine learning and artificial intelligence (AI).

Standards body SocialCarbon is broadening its remit away from nature-based solutions (NBS) and will cut down on its list of eligible methodologies derived under the UN's Clean Development Mechanism (CDM), it announced Wednesday following a public consultation.

The co-chair of the Taskforce on Nature-related Financial Disclosures (TNFD) has said that he does not expect the final recommendations on nature-related financial disclosures to substantially change from the draft published at the end of March, with firms already starting to implement the guidelines.

EUAs extended their losses for a sixth consecutive session as the market continued to liquidate long positions amid declining natural gas prices and worsening sentiment, though the market pulled back some of its earlier decline after the daily auction cleared in line with prevailing spot prices.