Carbon Pulse

Canada and Chile have launched a new initiative that aims to triple carbon pricing emissions coverage across the globe, the environment ministers from each country announced at a COP27 side event on Tuesday.

China is open to using international carbon credits generated under the Paris Agreement’s Article 6, predominantly from Belt and Road Initiative (BRI) countries, to boost the supply of offsets in its national emissions trading scheme, a key carbon market advisor to the Chinese government told a side event at COP27 Tuesday.

Dutch heavy industry’s carbon intensity is “hardly” improving compared to European benchmarks, the country’s emissions authority said Tuesday.

European carbon prices dropped for a second day in thin trading as the market eyed Wednesday's scheduled trilogue session on the REPowerEU initiative, while energy markets gained for a second day as speculative traders covered short positions after a North Sea gas field outage.

Cambodia’s ministry of environment has signed contracts with a group of international corporate buyers for over 10 million tonnes of verified emission reductions from three REDD+ projects.

A group of rich countries led by the US and Japan has launched a Just Energy Transition Partnership (JETP) agreement with Indonesia, whereby the Southeast Asian nation will receive $20 billion to shift away from coal generation and target an earlier and lower peak in its power generation emissions, they announced at the G20 summit in Bali on Tuesday.

Turkey has emerged as a bidder for to host the COP31 global climate summit, putting up a challenge to Australia and the Pacific Islands, which were thought to have been the sole contender to hold the talks in 2026 up until now, while Czechia and Brazil are reported to be respective candidates for COP29 and 30.

China has published a roadmap for its non-ferrous metals sector to top out carbon emissions by 2030, making the ETS-destined industry the latest in a growing line of similar sectoral guidelines.

Australia’s Clean Energy Regulator has approved 13 new offset projects, most of them soil carbon schemes, as Australian Carbon Credits Unit (ACCU) prices gather momentum amid an uptick in buying interest and record volume.

China’s thermal power generation in October was up by 3.2% from a year ago, outpacing a 1.3% gain in overall power output, government data showed Tuesday, though the country's power demand grew at a slower pace amid gradual economic recovery.

New Zealand carbon allowances have traded at an all-time high over the past two days amid persisting expectations that the government will agree to ETS recommendations made by the independent Climate Change Commission (CCC).

Almost all global coal consumption is now in countries that have committed to a net zero target, but use of the fuel has been stable at near record highs for a decade and immediate policy action is required to mobilise the financing necessary to kickstart a transition to clean energy alternatives worldwide, the International Energy Agency (IEA) urged on Tuesday.

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

Countries that belong to the Organisation for Economic Co-operation and Development (OECD) are set to close three-quarters of their coal power plants by 2030, but research shows that fossil fuel companies mostly based in such nations have begun to ramp up new investment in Africa instead.

Carbon Pulse has hired its first product director, as the world's leading carbon markets news service focuses on developing its non-editorial content, while it has also doubled its Brussels-based reporting team amid a major growth push.

Compliance entities dropped their California Carbon Allowance (CCA) net length to lows not seen since early April as a massive spread trade occurred, as financials throttled back CCA net length from four-month highs while continuing to add to their RGGI holdings, according to US Commodity Futures Trading Commission (CFTC) data published Monday.

At least three of Brazil’s most forested states are preparing to bring what could be hundreds of millions of credits to the global voluntary carbon market, Carbon Pulse has confirmed.

Turkey is set to announce an updated NDC this week, with the government set to pledge to the UNFCCC a higher emissions cut target and for the first time declare when its emissions will peak, sources close to the process told Carbon Pulse on Monday.

A Canada-based voluntary carbon credit investor on Monday said it is readying for a successful 2023, even as the firm reported several million in losses over the first financial quarter and further uncertainty regarding REDD offset deliveries.

Several high-level representatives from rich countries noted on Monday the need to mobilise much greater levels of climate finance flows to vulnerable countries, responding to developing country lambasting of the current $100 billion promise as “insufficient” and “broken.”