Carbon Pulse

California should include a self-ratcheting mechanism in its low-carbon fuel standard (LCFS) that will strengthen the environmental performance of the programme without the need for formal rulemakings, a former official for state regulator ARB said Tuesday.

British Columbia has pushed back the effective date of a law to update the Canadian province’s low-carbon fuel standard (LCFS) due to consultations with Indigenous peoples as well as the aviation and marine industries, a senior government official said Tuesday.

Virginia Governor Glenn Youngkin (R) this week explained the legal basis of rescinding the state’s RGGI rulemaking, even as state lawmakers have maintained that a repeal of the cap-and-trade regulation is only possible via legislative authority.

A new carbon market-tracking ETF launched on the NYSE on Tuesday, joining the growing number of vehicles that give investors exposure to compliance-grade emissions trading schemes.

Nature-based and other offsets could follow other resources that have seen governments clamp down on private activity as nations set about meeting their Paris Agreement climate pledges, a conference heard on Tuesday.

A Canada-based consumer offset retailer has struck a deal with a biomass waste conversion company in the country to source its carbon removals credits for sale to individuals seeking to address their carbon footprint.

Carbon credit ratings agency will boom from a ‘race to the top’ to find high quality offsets when corporates are required not only to report their carbon accounting but also lower their carbon footprint, a webinar heard Tuesday.

The chemicals industry must dramatically transform operations to avoid 4C of global warming, according to a study published on Tuesday that maps out a Paris Agreement-aligned route for the sector whereby it could earn $55 bln in carbon credits a year by 2050 by sequestering its emissions.

Floor price expectations for next year’s WCI-linked cap and trade auction reserve price continued to inch lower with August inflation, according to federal data published Tuesday.

An agtech company has raised a further $40 mln in funding to accelerate a three-year rapid expansion plan that will target the carbon offset market.

The supply of voluntary carbon credits will tighten significantly over the next year, due to a dearth of projects following methodology changes, labour shortages, and a shifting regulatory framework, a virtual event heard Tuesday.

EU lawmakers endorsed on Tuesday a draft bill that would make it harder for EU-based companies and banks to either directly import or finance products at the origin of deforestation and forest degradation, paving the way for inter-institutional talks later this month to finalise the bill.

A carbon credit ratings agency announced a new service on Tuesday that provides quality indicators for more than 150 carbon projects, promising transparent, comparable, and comprehensive assessments of underlying carbon and sustainability claims while using an expert panel to vet its approach.

A carbon removals marketplace is eyeing a rapid expansion after securing $55 million in second round funding, it announced Tuesday.

EUAs reversed early losses to hold on to most of Monday's strong gain as buyers remained interested even as the daily auction reverted to trend, while energy markets were largely flat on the day as traders waited for more details of the European Commission's plan to cap energy costs.

Voluntary carbon market participants should look positively on the news that Gabon will soon come to market with an offering of 90 million tonnes of sovereign carbon credits, writes Federica Bietta of the Coalition for Rainforest Nations

China's Ministry of Ecology and Environment (MEE) is studying the possibility of including coalbed methane in its national offset programme, an official document showed, offering a first solid insight into the government's thinking around what the national carbon credit market might include when it restarts.

Japan and Georgia have signed an agreement to trade Paris-aligned carbon credits under the Joint Crediting Mechanism (JCM), Japan’s environment ministry announced on Tuesday.

Taiwan’s state-owned oil and gas company CPC Corp. on Tuesday announced new, more ambitious climate targets as parliament prepares to grapple with climate bill.

The United Arab Emirates (UAE), which will host COP28 next year, has updated its NDC to target a cut in business-as-usual (BAU) GHG emissions of 31% by 2030, the petro-state’s ministry of climate change and environment has announced.