Carbon Pulse

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

The Bahamian government is drafting legislation to establish a carbon exchange on the archipelago, in its campaign to become a “global centre” for emissions trading.

A US-based firm that has developed an 'operating system' for forest restoration efforts has raised $17 million in seed funding.

The California Air Resources Board (ARB) held a public hearing on Thursday on the proposed 2022 Scoping Plan as well as on its draft environmental analysis, with the meeting running over its scheduled time following a brief disruption from environmental campaigners.

Similar to last week, California Carbon Allowance (CCA) prices continued to trade in line with broader macroeconomic weak sentiment across financial markets, while RGGI Allowances (RGAs) remained fairly immune to market gyrations.

Crypto carbon firms are voicing their disappointment with Verra over a delay to consultations on tokenising retired credits, with the hold-up already stretching for more than two weeks following the standard manager's effective ban on the practice.

Germany’s decision to delay the retirement of coal plants scheduled to close and re-activate reserve capacity could push EU power sector emissions 5% higher over the next two years, according to a modelled report from analysts at an energy consultancy.

The Norwegian government has upped plans to create a hydrogen maritime hub along Norway’s eastern seaboard, awarding grants of 1.12 bln NOK ($112 mln) to 12 initiatives, it announced Thursday as part of a roadmap for green industrial growth.

A carbon financing company is offering project developers a guaranteed floor price for their carbon credits and a profit share if market prices start to rise, in a move that could counter criticism of profiteering in the voluntary carbon market.

EU nations are sticking to their line that the proposed carbon market for transport and buildings should be delayed by a year to 2027, according to the latest leaked draft seen by Carbon Pulse on Thursday, a week ahead of when the governments are due to reach a united position on several climate bills.

EU carbon prices fluctuated in a very narrow range on Thursday morning as traders tracked developments in energy markets, where prices surged as Germany announced plans to reward industry for reducing gas consumption amid further tightening in Russian supplies.

Global stock markets are financing energy companies that own three times more coal, oil, and gas reserves than can be burned without breaking the Paris climate agreement’s target to limit global warming to 1.5C, raising the risk of stranded assets for the financial sector, a report released on Thursday claimed.

The China Environmental Protection Foundation has filed a civil lawsuit against a Beijing-based consultancy caught faking ETS data twice, accusing the company of maliciously reducing the cost of emitting carbon and negatively impacting China’s efforts to meet its climate change ambitions.

Australia’s Clean Energy Regulator is investigating the possibility of making the capture and storage of carbon in minerals eligible to earn Australian Carbon Credit Units (ACCUs), championed by miner BHP, as early as 2023.

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

California issued a larger set of credits this week than for its previous two issuance rounds, according to government data published Wednesday, even as CCO prices dropped amid weak sentiment across financial markets.

Verra has declined to adopt tonne-year accounting for its Verified Carbon Standard following three months of public consultations, but says it will continue to hear opinions and could change its mind in the future.

A web3 company is launching an on-chain marketplace for buying voluntary carbon market offsets, it announced Wednesday.

Selected reactions to the European Parliament agreed positions for three closely-related proposals under the EU's Fit for 55 climate policy package: the EU ETS review, the Social Climate Fund, and the carbon border adjustment mechanism (CBAM) proposal.

The UAE said on Wednesday it will host the 2023 UN climate talks at its state-of-the-art Expo City in Dubai - the second straight Middle East destination after this year's Egypt conference - with the Gulf nation aiming to boost its climate credentials by showcasing its clean energy initiatives.