Carbon Pulse

The Indonesian government plans to step up efforts to preserve seagrass and mangroves as part of its climate change policy and to improve the Southeast Asian country’s blue carbon potential, local media has reported.

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

A recently agreed target to cap Indonesia’s power sector emissions at 290 million tonnes of CO2 per year by the end of the decade can help the Southeast Asian economy reach its net zero emissions by 2060 goal, but is not ambitious enough to transform its carbon intensive power sector to align with a 1.5C pathway, a think tank report released Thursday has found.

California regulator ARB reduced the number of compliance offsets during the second bi-monthly issuance period of the year, but credits with direct environmental benefits (DEBs) to the state ticked higher, state data published Wednesday showed.

Environmental services firm ClimeCo on Wednesday announced it has acquired a forest carbon developer and modelling firm that will help the US-based company expand its portfolio of overseas nature-based offset projects.

A US-based climate tech firm on Wednesday said it has initially validated a dynamic baseline that ensures REDD+ offsets equate to real emissions reductions, in what the company argues is a possible solution to over-crediting controversies that have reverberated through the voluntary carbon market in recent days.

The Cap-and-Trade Program (Program) is seeking an enthusiastic team member with expertise in the industrial sector and assessing decarbonization policies to work on the development, implementation, and analysis of the California Air Resources Board’s greenhouse gas (GHG) emissions reductions programs, principally a new Net-Zero Strategy for Cement Use in California.

A rating agency has placed two avoided deforestation projects "on watch" amid the fallout of reports that claimed widespread over-crediting of REDD+ projects.

Recent claims around the effectiveness of rainforest carbon credits are being hotly debated right now. And rightly so. Companies have reportedly paid over $1 billion for these credits, and they are being used to offset ‘real’ emissions. So, if they’re not genuine, that’s a massive problem for climate action, warns Edward Mitchard of mapping provider Space Intelligence.

Most businesses have failed to take practical steps to implement their net-zero strategies, according to a survey published Wednesday that found nearly half of respondents had cited a reliance on carbon offsets to meet their climate goals.

The already-slim chances of the EU using international credits for compliance in the bloc's carbon market have been even further damaged by recent reports of widespread over-crediting of avoided deforestation projects in the voluntary carbon market (VCM), a webinar heard Wednesday.

Credits from a well-known REDD project traded at $11 in the first auction on Wednesday to help set a broker's new index price for the avoided deforestation sector, far higher than equivalent prices for standardised nature-based futures on CME.

Low-cost carrier EasyJet expects its European flight demand to return to pre-pandemic levels as early as the second half of 2023, it said in quarterly results published Wednesday that featured strong passenger and booking numbers for Q4 2022 that may have offered some marginal support to carbon credit prices.

European carbon recovered to post a small increase at midday after earlier extending the previous day's drop to the lowest in a week, as gas and power prices continued to decline.

The UK branch of Dutch-headquartered Triodos has loaned £3.75 million to a rewilding charity in the UK for its first of many planned landholding acquisitions meant for nature reserves across the country.

Oil and gas major Shell has delivered a GHG neutral LNG cargo to Taiwan’s national oil company CPC, the first delivery aligned with the industry’s recently established framework for the monitoring, reporting, and verification (MRV) of GHG emissions associated with such shipments.

The world is "recklessly" ignoring the full impact of wildfires that contribute to one-fifth of current global CO2 emissions, according to a report published Wednesday by an environmental technology firm.

Nearly 100 coal-fired power plants will begin participating in Indonesia’s newly-introduced carbon trading scheme, marking the first of three phases for the sector to cut its emissions to help meet the country’s NDC targets, the Ministry of Energy and Mineral Resources has announced.

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

A US government agency on Tuesday rejected a request from the operator of California’s Diablo Canyon Power Plant to reopen an earlier application that would extend the facility's lifespan, saying that the nuclear energy installation had not submitted the information necessary to proceed with a review.