Carbon Pulse

Australia has launched a review of its beef herd carbon offset method after the Emissions Reductions Assurance Committee (ERAC) questioned whether projects still meet additionality criteria.

China's aviation regulator has unveiled an action plan to encourage green development in the sector, though it made no mention of the nation's attitude towards participation in ICAO's CORSIA offsetting programme covering international flights.

The Mexican state of Queretaro will implement the highest CO2 levy in Latin America next year, and is considering several offset protocols to allow emitters to buy credits in lieu of paying the tax, a government official told Carbon Pulse.

A group of Singaporean organisations has launched an interactive mapping software that will support the prospecting, development, and management of nature-based carbon credit projects worldwide.

A group of Singaporean organisations has launched an interactive mapping software that will support the prospecting, development, and management of nature-based carbon credit projects worldwide.

Indonesia has modestly raised its 2030 climate targets in an enhanced NDC submitted to the UNFCCC, which has also outlined the country’s requirement for finance to meet its “conditional” emissions-cutting goal that is based on receiving international support.

Indonesia has modestly raised its 2030 climate targets in an enhanced NDC submitted to the UNFCCC, which has also outlined the country’s requirement for finance to meet its “conditional” emissions-cutting goal that is based on receiving international support.

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

Emitters padded their California Carbon Allowance (CCA) net length for the fifth week in a row, while financial players kept their positions mostly steady, according to US Commodity Futures Trading Commission (CFTC) data published Friday. 

The South African Treasury has rejected a plea from business groups to decelerate the government’s proposed trajectory of national carbon tax increases.

The Oregon Environmental Quality Commission (EQC) on Friday voted to increase the stringency of the GHG targets under the province’s low-carbon fuel standard, giving the state the deepest carbon intensity (CI) reduction goals in any North American programme.

A senior European energy and carbon analyst from a French bank has joined a London-based clean energy fund management company, Carbon Pulse has learned.

Countries from the Global North and South are diverging on the stringency of the post-2023 emissions baseline for the CORSIA global aviation offset mechanism, as UN body ICAO’s Council puts forth a compromise ahead of a decision next month.

A ratings agency has placed three Uruguayan forestry projects “on watch” for a potential ratings change, alongside a methane recovery project in the Netherlands.

Czechia is proposing the EU raise most of a €20 billion RePowerEU revenue target from selling carbon allowances earmarked for the bloc’s Innovation Fund amid member state objections to solely exploiting units held in the MSR, an official told Carbon Pulse on Friday.

The Swiss executive governing body has approved three bilateral agreements with Morocco, Malawi, and Uruguay, creating the framework conditions for the country to trade international carbon emissions reductions units to count towards Paris Agreement climate goals.

The tiny South Pacific island nation of Vanuatu has been making waves at the UN this week, calling for an international mechanism to stop the expansion of all new fossil fuel projects.

The newly-installed UK government made a major energy security push on Friday, announcing plans to fast-track both low-carbon and fossil fuel projects even as it submitted a revised climate pledge to the UN detailing a pathway towards its binding 2050 net zero emissions target.

UK allowances will maintain their premium to EUAs in the coming years as the British market remains structurally tighter than its European counterpart, even as forward hedging demand for UKAs declines over the rest of the decade, according to an analyst.

EUAs tumbled as much as 5.5% on Friday morning as traders reacted to news that Germany is mulling an idea for a larger revenue target for allowances sales under the RePowerEU plan, while energy markets were marginally weaker as forecasts showed windy conditions and temperatures above seasonal norms.