Carbon Pulse

A report on the Australian government’s strengthened Safeguard Mechanism has recommended building more frequent emissions reporting into the scheme, which it argues would allow it to respond to unexpected increases in emissions in the coming years. 

China's state planner underlined the critical role of coal in the country's pathway towards energy transition while applying weak language on the development of carbon markets in its annual work plan released over the weekend, that has left observers bewildered.

After a 36-hour marathon session to conclude negotiations in New York, UN member states on Saturday evening agreed a treaty that will pave the way for protecting 30% of the world’s oceans.

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

An environmental group on Thursday highlighted findings of a new study that alleges California’s forest offset protocol overestimated the amount of carbon sequestered and made unsubstantiated additionality claims in one assessment area, resulting in the over-crediting of 100% of units issued at several sites.

The US Commodity Futures Trading Commission (CFTC) on Friday continued publishing delayed Commitments of Traders reports following a cyber attack on the agency’s third-party data provider several weeks ago, showing that compliance entities padded their net long California carbon positions and speculators picked up RGAs in early February. 

California electricity sector CO2 output ended 2022 just below year-earlier levels, while Jan. 2023 emissions were also slightly down year-on-year, according to data published Friday.

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 the Vermont Senate passing amended clean heat standard legislation, the referral of a voluntary carbon credit disclosure bill in California, and the announcement of a rulemaking process for Oregon’s cap-and-reduce system.

eAgronom is bringing additional benefits to sustainable farmers via several types of projects, the main one being the Carbon Program that generates Certified Carbon Credits at the farm level.

EU nations on Friday delayed a vote planned for next week to endorse a deal on CO2 car standards amid protests from Germany, complicating what had been seen as a mere formality in a busy month of work for legislators on the bloc's climate policy.

Offset registry Climate Action Reserve (CAR) on Friday announced it will commence development of a forest carbon protocol specific to Guatemala, continuing the US-based standard’s trend of country-specific endeavours.

EU member states will be forced to allocate a portion of their EU ETS auction revenues towards key climate projects under a new industrial strategy set to be proposed by the European Commission later this month, according to a leaked draft seen by Carbon Pulse on Friday. 

A rating agency has downgraded a REDD+ avoided deforestation projects in Papua New Guinea that has been in the media spotlight recently.

In a knock-on effect of the European scramble to secure liquified natural gas, analysts expect key Asian economies will draw out their use of coal and oil for power generation as they prioritise security of supply, a move that could prop up global energy sector emissions for several years.

The Manager, Americas Conservation Finance, will provide technical support and leadership in financing, project management, and delivery of institutional priorities and strategies for the protection and long-term conservation of natural capital in ecosystems that are high in irrecoverable carbon and biodiversity, with a focus on the Amazonia region.

Companies prefer to use in-house due diligence before buying carbon credits and are hesitant to trust rating agencies' second hand analysis, according to a survey of market participants that identifies a potential obstacle to the scaling of the voluntary carbon market. 

European carbon prices weakened for a fourth day on Friday, falling to their lowest in more than two weeks as selling activity picked up slightly amid a fifth successive day of falls in energy prices.

French President Emmanuel Macron has announced funding for a new forest protection scheme that will use scientific evidence to reward countries that are proven to have protected or restored their forests, aiming to resolve what he called an "absurd" current shortfall in funding to forest-rich nations offered by carbon crediting.

Liquidity improved in China’s emissions market over the past week, with prices moving just marginally and observers keen to know whether an upcoming political event could shed some light on the developments of carbon markets.

Independent ratings could drive higher-quality biodiversity credits and contribute to greater transparency in the fledgling market, carbon credit ratings agency BeZero said in a research note.