Carbon Pulse

Carbon standard developer and manager Verra has halted the use of a UN methodology for generating offsets from growing rice, launching a review of the protocol after integrity concerns were raised.

An Alabama-headquartered technology firm has launched a blockchain platform to sell millions of tokenised carbon credits from a patented reforestation programme, coming in at a price per tonne well below that of most nature-based removals.

The UN-backed Science-Based Targets Initiative (SBTi) on Thursday released a technical report describing an interim pathway for aviation companies to set GHG reduction goals in line with the more ambitious temperature goal of the Paris Agreement.

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 bills for cap-and-trade oversight in Washington, emissions disclosure in California, and zero-carbon power in New Jersey. 

TotalEnergies, which has a self-imposed 2050 net zero emissions target, is selling a share of its renewable portfolio to insurer Credit Agricole Assurances amid booming returns from oil and gas sectors.

Activity is picking up in the general over the counter (OTC) voluntary carbon market, brokers reported on Friday, although prices for REDD+ credits have dropped again after buyers largely disappeared in the wake of reports claiming widespread over-crediting in the avoided deforestation sector.

The EU must extend its gas demand curbs for at least another six months to ensure it has enough supply next winter, according to a think-tank report, raising the prospects of further restrictions even as the bloc's energy crisis has eased.

EUAs steadily clawed back most of previous session's losses on Friday morning, amid renewed options trading activity and a modest recovery in energy prices.

A Norwegian direct air capture (DAC) developer has appointed a former US-based soil carbon CEO to a senior position, the firm announced, targeting a launch of the first million-tonne plant in 2027.

Uncertainty plagued the carbon markets in 2022 and will continue to do so in 2023, analysts said in a report published this week that identified how macroeconomic weakness, energy crises, and regulatory changes had caused a slowdown after several years of growth.

Some 3,000 government officials, scientists, conservation professionals, NGOs, and Indigenous groups have gathered in Vancouver, Canada to spend the next week laying the groundwork for meeting the Global Biodiversity Framework of protecting 30% of global oceans by the end of the decade.

India’s Green Credit programme that was announced in this week’s budget could potentially receive support from multilateral agencies, enabling the initiative to act as an additional environmental policy tool to existing schemes aimed at meeting the country’s net zero goals, according to an Indian market participant on Friday.

Allowances in China’s national emissions trading scheme remained unchanged over the past week with few permits changing hands, as a prominent economist has called for policy reforms to help boost demand in the market.

Beijing has a lot of work to do to facilitate the international trade in Chinese carbon credits, despite emissions reductions generated from the country's national CCER offset programme, having been deemed eligible in CORSIA's pilot phase, according to analysts.

UK-headquartered Northern Trust Asset Management has launched the World Natural Capital Paris-Aligned Index Strategy, an investment tool that integrates climate and natural capital considerations to address the twin crises of climate change and biodiversity loss.

An Australian official on Friday laid out the steps the government is taking to implement the recommendations of the recent review into the country’s carbon market, but said it would take some time to see them fully realised.

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

Japan has agreed to co-fund the development of a second third-country project under the Joint Crediting Mechanism (JCM), that aims to utilise green hydrogen produced in New Zealand.

California Carbon Allowance (CCA) prices erased an entire week's worth of declines on Thursday as traders wondered if fund flows had turned positive, while analysts provided insight behind the stagnant Washington Carbon Allowance (WCA) market and upcoming inaugural auction.

The UK is at risk of slumping behind international rivals on green growth after bold policy moves by the US and EU over the past year, with Britain already potentially lagging in key elements of policy including a lack of clarity over carbon leakage and pricing reform.