Carbon Pulse

Ambiguities in Indonesia’s stated energy policies will allow for the continued growth of the country’s coal-fired power capacity, even though there is currently an oversupply of thermal power generation and despite the recent financial deals with international partners which aim to accelerate the transition towards renewables, a report released on Tuesday has warned.

Financial institutions should push to transform key pesticide companies and their significant contributions to global biodiversity loss, financial market campaigners ShareAction have urged.

The spot price for Australian Carbon Credits Units (ACCU) has risen 5% following the accord struck between the Greens and the government to further strengthen the Safeguard Mechanism, as the market mulls how the reforms will play out.

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

A Dutch voluntary carbon offset firm has terminated Nigel Farage's stock options, which were at one point expected to amount to a €20-million windfall for the former UK lawmaker and Brexit campaigner.

Switzerland's latest carbon allowance auction has cleared at a new record high.

Washington will accept offsets issued from two US-based carbon registries under the state’s WCI-modelled cap-and-trade system, the state’s environmental agency announced Monday, though it is unclear when compliance-eligible credit generation may commence.

RGGI Allowance (RGA) values traded within a narrow range through another volatile week for global markets tossed around amid ongoing banking sector nervousness and interest rate hikes, while participants assessed modelling scenarios ahead of the power sector carbon market's first programme review meeting in 15 months.

A nature-based project developer has signed a memorandum of understanding (MoU) with Ghana to develop a reforestation project in the country.

The European Commission said it plans to begin the sale of EUAs under the REPowerEU initiative in July, the market’s administrator said after the market closed on Monday, confirming earlier reports that the EU was eyeing a summer start to the process.

Avoidance carbon credit prices slid lower over the past week, led by sharp losses in nature-based credits as the corporate world’s attention focussed on the unfolding global banking crisis following the near collapse of Credit Suisse, although removal offsets continued to tick higher to extend a trend.

A buyer has paid an average $52/tonne for the first issued electric clean cooking credits as well as future units, a project developer confirmed to Carbon Pulse, despite cookstoves coming under heightened scrutiny in recent weeks amid claims of historical over-crediting.

German utility EnBW reported a 1% fall in its ETS-covered thermal generation in 2022, according to results published Monday, but a double-digit rise in brown coal burn that will keep support for its compliance demand. 

EU transport ministers are poised to consider approving the bloc’s stalled CO2 car standard this week after Germany signalled a breakthrough, though sources suggested that the compromise might not be smoothly adopted as other states seek more time to consider changes.

European carbon made modest gains on Monday morning, shrugging off a weak auction amid thin screen trading volume as the March futures contract entered its final trading day.

The government of the Chinese island province of Hainan has passed the technical review of a methodology for mangrove afforestation and reforestation projects, which could further strengthen the operation of the region's offset programme and the country's emerging blue carbon sector.

The vast majority of the of the world’s key biodiversity sites already contain human-made infrastructure, with the share of these areas likely to be impacted by further development only expected to increase, a global assessment by scientific researchers has found.

Forever Forests is looking for a full-time ETS and carbon land-use advisor.

A Canada-based carbon credit investor announced on Monday it had successfully closed its latest round of financing for climate mitigation projects.

The Safeguard Mechanism passed the lower house of Australian parliament Monday and looks set to survive a Senate vote later this week after the Greens party announced it had negotiated with the Labor government a series of measures to strengthen the scheme, including putting a cap on absolute emissions and giving the climate minister broad powers to ensure projects don’t exceed the cap.