Carbon Pulse

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

The quick turnaround in launching Washington state’s carbon market could yield adverse consequences, a webinar heard Wednesday, as analysts presented their allowance pricing scenarios for the WCI-modelled programme and market participants voiced concern about offset procedures.

The nascent carbon removal market is set to accelerate to maturity as a record year of investment pledges this year is bolstered by several underlying market dynamics, according to a report published on Thursday.

California compliance offset issuances fell this week to levels more in line with subdued totals this year, according to state data published Wednesday, while the price premium for credits that provide direct environmental benefits (DEBs) the state set a new record.

Some nine million national-scale deforestation reduction credits have again been made available to the voluntary carbon market this week, with initial buying limited but far greater potential volumes promised within weeks.

Some carbon project developers care less about climate outcomes than they do about protecting nature or supporting vulnerable communities, a virtual event heard Wednesday – a stance that risks complicating fungibility for a market already struggling to simplify trading.

A blue carbon offset project in Myanmar has planted 1,500 hectares of mangrove forest to complete its first development stage, its backers said in an update on Wednesday.

Carbon tax reforms recently unveiled by Colombia's newly elected leftist President Gustavo Petro are viewed by some observers as including controversial provisions that impose new limits on the use of offsets, measures that are causing confusion amongst stakeholders and potentially dimming the prospects for the passage of the legislation.

A carbon credit ratings agency has given a cookstove project in Nepal and a group of hydropower plants in China, both accredited by Verra, a reasonable chance of avoiding a tonne of CO2

Czechia is set to stick to its compromise plans in its efforts to broker a united stance among EU nations for bloc's REPowerEU strategy, despite some member states objecting to raiding the ETS-derived Innovation Fund, an official told Carbon Pulse on Wednesday.

The IC-VCM’s carbon credit standard-setting process should add more safeguards for host communities, ban oil firms from trading and offsetting the units while ensuring they are all correspondingly adjusted, a cross-stakeholder coalition said on Wednesday.

EUAs gave up further ground on Wednesday, with prices settling at their lowest in more than six months as the market continued to digest EU lawmaker plans on allowance sales to fund the REPowerEU package, while investment funds' record net short position in the futures market also drew focus.

A sustained 10% drop in EU power demand over the winter as proposed by Brussels could lead to a 26% drop in electricity sector emissions, according to analysts, though this scenario would be ambitious given the scale of such a curtailment.

The EU should scrap key elements of its proposed “Fit for 55” reforms of the EU ETS amid the current energy crisis, leaving the market in its current format to protect industry’s competitiveness, a lobby group said on Wednesday.

A web3 company on Wednesday launched a new digital token that is backed by a combination of carbon emissions reductions and biodiversity gains.

Australia’s Queensland state government has announced its power stations will no longer run on coal by 2035 as part of a sweeping 10-year energy transition plan, while the price of Australian Carbon Credit Units (ACCUs) has seen a small rise over the past week.

An Australian carbon group has urged the Clean Energy Regulator to explore suitable methodologies for Indigenous organisations, releasing a study to highlight a dearth of opportunities in the carbon farming space.

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

In order to maintain financial stability and manage monetary policy, South Africa’s central bank needs to develop a framework to monitor and estimate the impact of international climate mitigation policies, in particular carbon border adjustment mechanisms (CBAMs), on the country’s economy.

Voluntary carbon offset provider Climate Impact Partners has bolstered its sourcing team with two more market experts.