Carbon Pulse

Developing countries should be involved in the creation of a climate club which the G7 has pledged to establish by the end of this year, according to a report published by researchers that also underlined the importance of keeping the initiative as a supportive measure for UN-level climate targets.

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

The size of the December RGGI auction will fall by just under 1% from the Q3 sale, the Northeast and Mid-Atlantic US power sector cap-and-trade scheme announced Tuesday.

Given a scathing review of the Integrity Council for the Voluntary Carbon Market’s (IC-VCM) core carbon principles and assessment framework from the market’s biggest actor, the US government needs to step in with safeguards against poor quality credits, a research group argued.

The World Bank plans to launch a fund at COP27 that will provide grants for emissions reduction projects based on results, as well as generate credits to count towards national inventories or for international transfer or sale, its President said on an online post this week.

Submissions as part of a public consultation on removals methodology for the UN's new centralised crediting mechanism under the Paris Agreement have so far focused on the role of carbon capture and storage (CCS), tonne-year accounting methods, and ocean-based carbon projects, according to documents published on the UNFCCC website and seen by Carbon Pulse.

The European Space Agency on Tuesday announced a deal with a forestry management software company to provide more accurate carbon credit estimates through satellite imagery.

The European Commission kicked off work on a European Solar Photovoltaic Industry Alliance on Tuesday, one of the initiatives of the bloc's solar energy strategy under its REPowerEU initiative to speed the bloc's exit from Russian fossil fuels that is set to be partially funded by carbon sales.

The French region of Hauts-de-France has been awarded €228 million in grants under the EU's Just Transition Fund to address support communities impacted by efforts to decarbonising its polluting industries. 

EUAs declined on Tuesday morning as the market again tested recent support levels amid lacklustre trading, while energy markets forged higher amid forecasts for colder temperatures in the short term.

The Clean Energy Regulator has opened the second pilot window for market entities to exit their contractual arrangements with the government, as the issuance flow of Australian Carbon Credit Units steadies.

A carbon credit rating agency has given a major downgrading to a Cambodian REDD forest protection project, while nudging the scores of several other projects it had placed on watch.

A Europe-based investment platform joint venture has closed a fund after raising €2 billion ($1.94 bln) in what it described as the world’s first and largest pureplay clean hydrogen infrastructure fund to focus exclusively on the entire clean hydrogen supply chain.

New Zealand has proposed a farm-level, split-gas approach to pricing agricultural emissions, and is seeking feedback on a consultation document as it searches for a way to bring down emissions in its biggest-emitting sector.

China is considering letting household rooftop solar power qualify to earn carbon credits that would be eligible for use in its national emissions trading scheme.

Japan and Sri Lanka on Monday signed a Memorandum of Cooperation to bring the South Asian nation into the Joint Crediting Mechanism (JCM).

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

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