Carbon Pulse

Power generators in Virginia still face legal ramifications to meet their RGGI obligations for all of 2023 and potentially later years as well, despite the state's plan to sever the carbon market regulation before the programme’s three-year true-up deadline, experts told Carbon Pulse. 

A forestry project in the Republic of Congo co-developed by oil major TotalEnergies has been criticised by investigative journalists and campaigners for its treatment of local people.

Reaching consensus on which metrics can most accurately quantify biodiversity impact is considered crucial to support streamlined government and corporate reporting, and could underpin the emergence of a voluntary biodiversity credit market, but it could also come at a great cost for some.

The EU is investing over €62 million in 17 small-scale clean tech projects, the European Commission said on Tuesday, detailing a fourth round of grant awards under the ETS-powered Innovation Fund.

The International Swaps and Derivatives Association (ISDA) published new industry documentation for the trading of verified carbon credits on Tuesday, as it seeks to develop legal and risk management standards for markets related to environmental activities.

EUA prices slipped in light Tuesday morning trade as the market continued to focus on political negotiations over EU ETS reform and potential additional auctions from next year as well as the imminent expiry of the December options contract. 

Investors have committed $650 million to two natural capital funds managed by Climate Asset Management (CAM), one of which will seek to create a pipeline of high-quality carbon credits.

The Australian government is seeking views from stakeholders on two policy papers that is has drafted for a proposed Guarantee of Origin (GO) scheme for hydrogen and renewable electricity certification, it has announced.

A new international alliance has formed on the sidelines of COP15 in Montreal to ensure the prevention of biodiversity loss, engagement with Indigenous communities, and the phasing out of greenhouse gas emissions from mining of critical minerals.

EU legislators reached a provisional agreement early on Tuesday to impose a carbon border adjustment mechanism (CBAM) on selected imported goods, though the pace of its replacement with EU ETS free allocation as a carbon leakage protection measure is yet to be determined.

The developer of a Direct Air Capture (DAC) project in New Zealand says the technology is maturing at a much faster rate than previously expected by governments, urging them to begin regulatory planning in order to reap the benefits it could potentially provide.

India’s upper house has voted in favour of a bill that will facilitate a framework for developing a carbon market in the country following passage in the lower house earlier this year, paving the way for it to become a tool to help the country meet its energy transition goals.

Two-thirds of companies that needed to improve on environmental impact scores failed to do so in a 2022 based on an annual climate change disclosure rating, as just 1.3% of those surveyed met the highest criteria.

Zhejiang, a coastal province in East China, has recently completed its first batch of forest carbon sink transactions in the years-long absence of a national offset market.

Spain-headquartered renewable energy generator Iberdrola has committed to ensuring all its global facilities will have a net positive impact on nature by 2030.

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

Two Australian resources players have extended their cooperating agreement to explore the possibility of developing some 1.4 million hectares of rainforest in Papua New Guinea into a series of carbon offset projects.

While extinction threats, tipping points, and ecological collapse have dominated newsfeeds at the COP15 biodiversity negotiations in Montreal, a new IUCN tool allows viewers to track progress on targets to restore degraded landscapes, providing "glimmers of light" in an otherwise dark landscape.

A new paper has outlined a series of integrity principles that could form part of a voluntary biodiversity crediting framework, likely to be key to scaling the nascent market and closing the current private finance gap.

Financial services company Manulife on Monday announced its partnership with the World Economic Forum’s Trillion Trees Initiative, with the pledge aiming to help scale the firm’s newly launched carbon offset-focused fund.