Carbon Pulse

IAG’s British Airways has added an option for its passengers to buy CO2 removals credits to address their flight emissions in addition to its conventional carbon credit and sustainable aviation fuel (SAF) offerings.

A Canadian green technology company on Tuesday announced a private placement for C$10 million ($7.5 mln) in notes that will be convertible into VERs from its equipment to reduce vehicle emissions.

The California-Quebec November current vintage auction settled towards the bottom of traders' expectations, but the advance auction price dropped much lower than the prior two sales, according to results published Wednesday.

The European Financial Reporting Advisory Group (EFRAG) delivered the first set of its draft ESG and climate disclosure requirements to the European Commission on Tuesday, with the technical advisor modifying the rules to best align with public feedback.

The COP27 UN climate talks gave a clear signal that ”mitigation contribution” units cannot be used for offset claims, the next step is for all voluntary market participants to finally accept this, writes Niklas Kaskeala of carbon credit retailer Compensate.

Newly defined carbon credits under the UN’s Paris Agreement could serve an important role in corporates’ net zero carbon claims, according to some experts and government representatives, even though these credits are not designed as traditional “offsets.”

Members of the European Parliament voted on Wednesday to pave the way for the EU's central budget to be substantially fed by a new basket of revenue streams based on the ETS, the carbon border adjustment mechanism (CBAM), and a share of the reallocated profits of large multinational companies.

EUAs caught a big lift from a strong daily auction to record an increase of as much as 3.5% on Wednesday morning as traders appeared to cover short positions, while energy prices extended their rally for a fourth day on a combination of fundamental and regulatory news.

Energy security concerns have pushed China to secure supply from diverse sources and reduce reliance on expensive spot natural gas purchases, a move reflecting the country's increased focus on both fossil fuel-based energy security and emissions reductions amid economic headwinds, a report has found.

Australia’s emissions-intensive alumina refining sector has a credible pathway to reach net zero emissions by 2050, although key technologies to achieve this are still at varying stages of technological and commercial maturity and will require significant investment to make an impact, a report commissioned by an Australian government agency released on Friday has concluded.

The Australian government has committed A$500 million to its green bank to invest in project and technologies that will reduce emissions, as a new report has found the nations climate will get hotter, wetter, and drier as a result of worsening climate conditions, while Australian carbon credit issuance is flat.

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

The Canadian government on Tuesday announced it will delay implementation of the federal CO2 levy on fossil fuels next year on three of the four Atlantic provinces, as all subnational output-based systems proved successful in meeting the requirements of Ottawa’s post-2022 carbon pricing benchmark.

A carbon finance firm has signed a letter of intent with the Danish Red Cross to look into developing blue carbon projects in Southeast Asia.

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RGGI compliance entities continued to accumulate CO2 allowances through the third quarter, according to a market report, but not enough to keep pace with the overall emission levels for the first nine months of the year across the 11-state market.

The number of carbon credits retired from projects that tackle deforestation and degradation (REDD) is on course to fall substantially year-on-year as market uncertainty regarding new integrity guidelines, negative media coverage, and a pessimistic economic outlook have driven corporate buyers, and in particular energy firms, away from the space even as demand in other sectors has held firm.

If the engineered carbon removal industry is to show all the naysayers and propel towards gigatonne scale, it needs to double down on trust and transparency, writes Ted Christie-Miller of BeZero Carbon.

A carbon credit ratings agency has reaffirmed its score for a lowly-rated REDD project in South America, upholding the rating six months after first flagging it for a potential change. 

EU negotiators have agreed a unified position on how shipping will be added to the EU ETS, seeking to add the sector's emissions gradually over 2024-26 rather than immediately as the Parliament had initially wanted, an MEP involved in the talks said on Tuesday.