Carbon Pulse

An airline and an aircraft manufacturer have invested in a Canadian direct air capture (DAC) technology firm.

Australia’s energy minister has met with China’s climate envoy on the sidelines of negotiations at COP27, agreeing to cooperate on climate issues, as he used a plenary session to support the EU’s establishment of a loss and damage fund.

The EU shifted against a longstanding deadlock at UN climate talks on Thursday by proposing to establish a loss and damage fund for the most vulnerable countries, using money that could be raised partly by a levy on aviation, shipping, or fossil fuels.

A group of seven East African nations are successfully using Clean Development Mechanism (CDM) activities to generate climate finance, however the sheer scale of new finance required raises questions on how to expand and transition to Article 6, according to a report launched at the COP27 conference on Thursday.

The count of countries committing to global action to address methane emissions has risen to 150, according an event at COP27 on Thursday, an increase of 50 nations over the initial signatories made during last year’s UN climate talks, but yet to include some large emitters such as China.

A new nature-based carbon removal initiative for Asia was launched at COP27 on Thursday, starting with an initial $15 million investment in the Philippines that will restore 33,000 hectares of land and capture more than 4 mln tonnes of CO2.

All but a few of the power generators regulated under the Massachusetts Global Warming Solutions Act (GWSA) carbon market hold permits in excess of their compliance obligations, even as CO2 output under the in-state cap-and-trade programme has shot up this year, according to a report published Wednesday.

An Ontario nuclear power generation facility plans to develop a nuclear power offset protocol with a technical advisory firm and registered with a Canadian standards body, the company announced on Tuesday.

Several nations on Thursday launched an alliance of countries developing carbon dioxide removal (CDR) projects, with participating countries committing to building a 1,000+ tonne a year CDR project by 2025 and vowing to collaborate to share the resulting knowledge and data to help scale the technology.

The European Commission released guidance to member states this week to help them update their 2021-2030 national energy and climate plans (NECPs), calling on governments to raise their renewable targets and consider the changed global circumstances since the plans were last updated in 2019.

Australia’s carbon offset market is seeing rapid growth, Clean Energy Regulator data showed Thursday, with oil and gas firm Chevron’s pledge to make up for its CCS shortcomings and expected changes to the Safeguard Mechanism the main factors.

Buyer and seller nations of carbon credits are rushing to develop legislative frameworks, strategies, and broaden their understanding of how best to engage in the Paris Agreement's Article 6.2 international emissions trade provision, despite negotiations floundering at the UN level during the ongoing COP27 summit in Sharm el-Sheikh.

It’s Thursday - Solutions Day - of week two at COP27 in Sharm el-Sheikh, and Carbon Pulse rounds up today's other news and announcements from the summit. Timestamps in local time (EEST, GMT+2).

A group of Web3 companies launched on Thursday at COP27 a new platform that seeks to invest in carbon mitigation projects with the initial goal of offsetting the historical emissions of Ethereum, the world's second-largest blockchain.

The EU’s top court has weighed in on an Austrian case relating to tax fraud committed via the bloc’s carbon market.

EUA prices on Thursday fell for the third day out of four as buyers remained largely on the sidelines after a weak auction, while energy prices retreated for a second day as the demand outlook remains modest amid extended warm weather in Europe.

New Zealand on Thursday began a consultation process for an intended regulatory overhaul of its ETS to guard against various market risks, including plans to set up a platform to host NZU trading.

A UK-based company specialising in nascent ocean-based blue carbon projects and eyeing up to 1 billion tonnes in annual removals from 2031 has signed an exclusive deal with a crypto carbon venture to tokenise the credits, it announced Thursday.

Liaoning, a coastal province in Northeast China, has become the latest Chinese jurisdiction to launch a so-called “inclusive” small-scale carbon offset scheme in the years-long absence of a national market.

UAE green investment firm Masdar and two consortium partners have signed a framework agreement with a group of Egyptian state companies to develop a 2 GW green hydrogen production facility, adding to a series of deals the COP27 host has signed this week in an effort to boost its role as a green hydrogen supplier.