Carbon Pulse

EU subsidies for decarbonisation that are derived from ETS revenues would most effectively be distributed to sectors where the carbon price is too low or where free allowances make it hard for clean energy to compete, according to a report published Thursday, which proposed mechanisms to channel cash to where it's most needed.

The EU and Switzerland are significantly increasing the frequency of dates where allowance transfers are allowed between the two regional emissions trading schemes.

The European Commission presented its highly-anticipated proposal for a certification scheme for carbon removals on Wednesday, a move welcomed by some observers as offering a first-step towards a robust regulatory framework, while others noted shortcomings such as the definition of removals in the text.

An Indian carbon standards registry has linked up on Wednesday with the Carbon Trade Exchange (CTX), for an initial display of five projects on offer and almost 100,000 credits made available to the voluntary carbon market, the exchange told Carbon Pulse.

A deal on the EU Emission Trading System is expected to help finalise the bloc's Fit for 55 climate package in the next couple of weeks, but a number of thorny issues remain unresolved on key files as time is running out to complete the negotiations, lawmakers warned.

A 'historic' deal on the inclusion of maritime in the EU ETS has been provisionally struck by EU negotiators in Tuesday evening’s trilogues meaning 40% of maritime emissions would be covered in 2024 and phased-in to full-scope in 2026, but discussions are still open regarding other EU ETS-related reform bills, a senior MEP involved in the talks said on Wednesday morning.

EUAs rose to their highest in three months as buying interest continued to drive the market despite relatively light volume overall, while the UK allowance contract continued to lose ground compared to its EU counterpart ahead of the afternoon's fortnightly auction.

The European Commission has appointed a new director-general for its climate directorate after the previous head died unexpectedly this summer.

Interest in and registration of soil carbon projects has skyrocketed in Australia in recent years, however only one project has ever been issued Australian Carbon Credit Units (ACCUs).

The UN released this week data on GHG emissions from forestry for Indonesia in 2018-20, reporting that the forest-rich Southeast Asian nation had been able to achieve annual average GHG emissions savings in that sector of nearly 200 million MtCO2e for the three-year period.

The global palm oil industry should contribute to the recovery of past harm made in oil palm-rich landscapes, regenerating nearly 1 million hectares (ha) of forest, according to a non-profit report released on Wednesday.

One of Japan’s biggest power companies is considering capturing and shipping up to 10 million tonnes of CO2 annually to be stored at a floating CCS hub off the coast of Australia.

The New Zealand government has announced it will bring all “scientifically robust” forms of carbon sequestration, including native forestry, into its emissions trading scheme from 2025, in a bid to placate the agriculture sector.

Nestle has partnered with a New Zealand dairy farming company to develop a commercially viable net zero carbon emissions dairy farm by 2032, as the wider dairy sector has urged the government to ditch its proposed split-gas farm-level GHG pricing scheme.

The Australian government has introduced legislation to parliament that would create Safeguard Mechanism Credits (SMCs), designed to reward regulated facilities that stay below their emissions baselines.

A pathway exists for the world to get on track to less than 2C of global warming, but this will require determined action from both governments and the private sector to accelerate the transition to a low-carbon global economy with a significant ramp-up of investment, a report released on Wednesday has found.

A group of Australian firms along with the government have teamed up to run a pilot reforestation project in Vietnam in a bid to lay the foundations for broader implementation of nature-based projects in the country.

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

The Washington State Department of Ecology (ECY) on Monday published final regulations of its Clean Fuels Program (CFP), confirming an accelerated timeline to achieve average carbon intensity (CI) reductions for covered transportation fuels.

A provider of AI-powered satellite imagery analysis and an Australian offset project developer on Tuesday announced an alliance to improve soil carbon measurement.