Carbon Pulse

A government-funded initiative by the Nordic nations has published final guidelines that outline how to most effectively use voluntary carbon markets to address the current ambition and implementation gaps in relation to the Paris Agreement's 1.5C temperature warming limit.

Japan on Tuesday announced a proposal to gradually expand the domestic use of carbon pricing to help fund $1.1 trillion in economic transition bonds while also launching a push for increased use of an emissions market to drive decarbonisation across Asia.

Voluntary carbon offsetting in its current form has not been a useful tool in leading towards meaningful emissions reductions and a new approach should be adopted including setting an internal carbon tax to enable companies to execute more effective climate strategies, a white paper released on Tuesday has claimed.

The government of China's Hebei province, known as the country's steelmaking hub, has teamed up with a state-owned bank to provide financial support for the development of climate-related projects with a fund scale of 50 billion yuan ($6.98 bln) for the upcoming three years.

The Australian government plans to launch a consultation on the draft programme guidelines for its Indo-Pacific Carbon Offset Scheme (IPCOS) next year, as some market participants are lamenting its go-slow approach to the policy’s development.

A domestic carmaker has agreed to work with South Korea’s Ministry of Maritime Affairs and Fisheries to develop and promote blue carbon projects in a bid to sequester CO2 and protect biodiversity.

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

A startup tech company that secured $28.5 million in its Series A funding round this month has teamed up with a project developer to build a blockchain-based carbon exchange, with plans to launch a new standardised nature-based product for its target audience of institutional investors.

As the voluntary carbon offset market grows, price risk is becoming a bigger factor. “Having a clear price signal is important for companies, giving them the confidence to move forward.”

A Canadian sustainable commodities supplier is launching an international environmental commodities trading desk.

Compliance entities added to their California Carbon Allowance (CCA) position in the lead up to the release of the Q4 WCI auction results, while financials shortened their CCA holdings and added to their RGGI length, according to US Commodity Futures Trading Commission (CFTC) data published Monday.

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A US-based forest carbon tech firm has laid off nearly half of its workforce as a result of sluggish voluntary credit demand and widespread buyer cynicism surrounding nature-based solutions.

Prompt carbon credit prices edged lower over the past week, but the slight moves masked a much heavier bearish step identified by data aggregator AlliedOffsets, which flagged a slide in transactional value that likely reflects bargain hunting at the expense of fresher and more expensive vintages.

The European Commission is honing its support policies for clean hydrogen and other low-carbon solutions – with the first pilot Contract for Difference (CfD) expected next year – but uncertainty over the future volume of the Innovation Fund leaves questions hanging over the best design details.

US biofuel credit (RIN) values lifted on Monday to levels not seen since June 2021, as traders said steady demand from obligated parties and the imminent release of blending quotas for the US Renewable Fuel Standard (RFS) were driving prices higher.

The potential of carbon capture and storage bioenergy (BECCS) carbon removal projects is being inflated, campaigners said in a report published on Monday as Brussels prepares a proposal on how carbon removals can integrate into EU climate policy.

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