Carbon Pulse

Analysts have once again cut their outlook for EU carbon prices, slashing their near-term forecasts by 10-15% on a mix of weak demand and ample supply.

Annual demand for high quality carbon credits under the Science-based Target initiative’s (SBTi) proposed new Scope 3 emissions offsetting rules could reach 5.9 billion tonnes, according to analysts, despite the significant uncertainty caused by the backlash in the wake of the announced changes.

Finance ministries’ roles in developing a robust policy framework to provide necessary incentives for the private sector to support net zero transitions, coupled with low cost lending, will play a crucial role in assisting emerging nations’ climate goals, experts emphasised at a panel discussion Tuesday.

Prime Minister Justin Trudeau’s 2024 budget, released Tuesday, sees an overdue reimbursement of C$2.5 billion ($1.8 bln) in carbon tax rebates to small businesses, delivery of prior announced investment tax credits by the end of 2024, and commits to exploring additional carbon contracts for difference (CCfDs).

Proposals for various forms of a US carbon border adjustment mechanism (CBAM) are bringing together environmentally focused and economically inclined politicians from opposite sides of the political spectrum, offering a rare glimmer of hope for bipartisan agreement against an increasingly contentious climate-oriented global trade backdrop.

Verra released Tuesday what it called "minor" updates of its Verified Carbon Standard (VCS), hoping for full approval under Phase 1 of the international aviation offsetting scheme CORSIA, as well as being eligible for the Core Carbon Principles (CCP) label.

A Brazilian state will receive funding from the country’s development bank that manages the Amazon Fund to address illegal deforestation and forest degradation, according to a press release.

A California low-carbon electrofuels (efuels) developer has agreed to purchase captured CO2 from a Texas energy firm to primarily produce sustainable aviation fuel (SAF), the companies announced Wednesday.

US-based Bezos Earth Fund on Tuesday announced $100 million available in grant awards for solutions that use AI to address climate change.

A new biofuels plant in Spain will utilise industrial hydrotreating technology to reduce emissions in the production of sustainable aviation fuel (SAF) and biodiesel, the companies announced Tuesday.

Australian Carbon Credit Units (ACCUs) issued to a project in Western Australia will be stapled to independently verified 'co-benefit units’ tokenised on blockchain, according to its developers.

Thermal power will continue to dominate Russia’s annual generation mix from 2024-35, according to a data and analytics company.

Some EU member states are calling upon the European Commission to put forward a policy package on sustainable carbon for the chemical industry, according to a joint statement they delivered to the commissioner in charge of climate action, Wopke Hoekstra, in Brussels on Tuesday.

A Singapore-headquartered global commodities trading house plans to deploy a Swiss firm's technology for real time measurement and reporting of GHG emissions, the companies said Monday.

Investments in carbon capture and utilisation or storage risk squeezing margins for businesses that use the technology to extend the life of polluting assets when cheaper alternatives are available, according to a research report by Moody's.

An increasing availability of better-quality data in the carbon market is already helping companies get closer to neutrality, experts at IETA’s annual European Climate Summit in Florence said on Tuesday.

Clearer definitions for the scope, quantification, and baselines of carbon farming activities to be included under the EU’s Carbon Removal Certification Framework (CRCF) were presented by the European Commission on Tuesday.

The prospect of public pricing in the voluntary carbon market (VCM), potentially spurred by looming disclosure requirements, is provoking a range of reactions from market participants hinging on appetite for regulation, favourability toward transparency, and financial stake, experts have told Carbon Pulse.

An analysis of recent transactions under five voluntary biodiversity credit frameworks has found that prices vary massively, ranging from $7 to $41,000 per unit for a 100-year conservation period, with average rates expected to surge in the coming years.

Buyers of biodiversity credits should purchase multiple units at once to overcome the issue of some single initiatives not offering actual nature uplift, a researcher has said.