Carbon Pulse

Government support to help Queensland’s beef industry to retain and regrow trees could generate A$4.4 billion ($2.7 bln) in carbon farming projects, according to a report released Wednesday.

Australian climate and environmental groups are pushing the government to ban native forest use in biomass power generation from the country’s Renewable Energy Target (RET), arguing the forests would be better used for sequestering carbon.

The New Zealand government is seeking feedback on legislation that would extend the transition period given to small-scale foresters in its ETS to protect them from hefty fines.

Leading digital travel company Booking.com has formed a partnerhsip with Oslo-based climate tech outfit CHOOOSE with the aim to increase traveller awareness of the carbon footprint of their trips, and to eventually introduce carbon offsetting options for travellers, the companies announced on Wednesday.

Global offset developer South Pole has teamed up with an agtech company to offer farmers across Europe and Africa prepayment for carbon credits from agricultural projects, with 130 farms signed up from the outset.

UK company Liberty Steel has completed trials of a sustainable raw material that can replace anthracite, the main source of charge carbon in electric steelmaking, and reduce steel’s carbon footprint by as much as 30%, the subsidiary of global conglomerate Gupta Family Group (GFG) announced.

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

Canada’s logging emissions are roughly equivalent to those from the country’s oilsands, according to a report published Tuesday, which also accused the federal government of significantly underestimating the CO2 output from the forestry industry.

Carbon emissions from California's electricity sector through the first nine months of the year were almost identical to levels recorded for the same period a year ago, as natural gas-fired generation overtook renewables to become the dominant source of power on the grid, data published Tuesday from network manager California Independent System Operator (CAISO) showed.

The percentage of allowable offsets to be included in Colombia’s carbon tax reform remains a key point of contention among stakeholders closely following the ongoing tax reform debate process in congress.

An Asia Pacific carbon and clean energy tech and services firm has acquired an Asia-based environmental and energy commodity markets brokerage company, as part of a strategy to offer end-to-end markets, tech and climate solutions for business.

Demand for CORSIA-eligible units will remain limited until at least 2024 with most airlines unlikely to need credits to comply with ICAO's recently-agreed weaker baseline, according to sector stakeholders, while many potential buyers are still confused about their compliance obligations and credit eligibility and will therefore stay on the sidelines until greater clarity emerges.

The Washington State Department of Natural Resources (DNR) and a major US developer announced on Tuesday the details of a public comment period for a sizeable forest protection offset project.

The Progressive Conservative government of the Canadian Maritime province of Nova Scotia on Tuesday presented an alternate plan for meeting Canada's federally mandated carbon price of C$65/tonne in 2023, which if passed would replace Nova Scotia's three-year-old cap-and-trade programme.

The UK government released its 2021-40 emissions projections on Tuesday, detailing progress towards climate goals while underscoring that further efforts will be needed to reach net zero GHGs by mid-century.

Exchange operator ICE has unveiled a roadmap for participation in its upcoming voluntary carbon auctions, with the first such sale set to take place in December.

The European Commission will propose adding “EU financial firepower” to the bloc’s REPowerEU initiative to exit Russian fossil fuels, it said on Tuesday, making good on an earlier call by Commission President Ursula von der Leyen and raising the potential for a further raid on the EU ETS.

A new exchange has taken a step closer to launching a batch of voluntary carbon market futures that will soon be followed by a fresh approach to the liquified natural gas (LNG) market.

Intermediaries and investor profits accounted for a third of the traded value in the voluntary carbon market (VCM) in 2021, claimed a report published on Tuesday that proposed a more developer-centric model to finance small and mid-sized projects.

A new survey suggests the majority of Australian businesses want the government to set more ambitions emissions reduction targets, and that getting to net zero by 2050 is not fast enough, as uncertainty dominates the domestic carbon market.