Carbon Pulse

Modelled findings in a report published Wednesday have found that by scaling wind and solar power even faster, fossil fuel consumption could be reduced by a significant proportion by 2030 at no additional cost relative to stated policies as well as the EU's proposed Fit for 55 climate package.

EUA prices shrugged off one of the weakest daily auctions of the year to stand little unchanged at midday on Wednesday, as traders focused on the expiry of the June options contract and this afternoon's vote in the European Parliament on the EU ETS reform package.

Indonesian government and business figures have outlined the environmental and decarbonisation agendas they are seeking to pursue when hosting the concurrent G20 and B20 talks later this year.

A South Korean asset management company and a Seoul-based forest-focused intergovernmental organisation have announced plans to work together to identify and develop REDD+ projects across the IGO’s membership region.

The European Parliament is to vote again on EU ETS reform on Wednesday, aiming to agree at the second attempt after a divisive first vote that saw line-by-line amendments rejected. 

A record level of clean energy spending will drive global energy investment up by 8% in 2022, but despite this impressive headline figure global policymakers should not allow energy security fears stemming from the Russian invasion of Ukraine to derail the prospect of longer-term progress on the energy transition, the International Energy Agency (IEA) warned on Wednesday.

The Indonesian government and the World Bank are working on the details to secure carbon crediting eligibility for a large-scale mangrove conservation and restoration programme they say can generate some 30 million offsets over the next three decades.

A group of 73 institutional investors have outlined policy instruments it believes would incentivise a shift in demand away from high-emission production and consumption while delivering a just transition. 

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

Guyana has received a number of foreign offers to buy forest carbon credits, the country’s vice president has said, as the government assesses the proposals on the table.

Market forces must be brought to bear on direct air capture (DAC) projects, shifting interest from the primary to the secondary voluntary carbon market to help drive the costs of the technology down to scalable levels, according to a study published on Wednesday. 

Steady carbon allowance prices have enabled margins for coal-fired generation to improve dramatically in 2022, as the EU turns to the solid fuel as a means of helping the bloc wean itself from an overwhelming dependence on Russian natural gas.

Environmental advocacy groups are urging California Governor Gavin Newsom (D) to set higher climate ambition for the state ahead of a Thursday hearing to discuss Air Resources Board (CARB)'s 2022 Draft Scoping Plan.

An inflated price paid for carbon removal credits is going to enable a Finnish biochar project to scale over the next few years and hopefully drive its cost of removing a tonne of CO2 down to around $200 a tonne, a webinar heard on Tuesday.

Two Gold Standard-accredited reforestation projects have been placed on watch for a potential change in their grading by a carbon credit ratings agency in its latest update.

The EU could consider phasing out free allowances in the EU ETS more quickly to help meet the bloc’s greater investment needs in the aftermath of Russia’s invasion of Ukraine, the European Commission’s former top climate official told a conference on Tuesday.

Participants in emissions trading mechanisms around the world have near-doubled their outlook for carbon prices when compared last year, according to an annual report published on Tuesday, but their expectations still fall well short of levels thought needed to limit global warming to 1.5C.

With G7 leaders due to gather in less than two weeks in the Bavarian Alps, many expect Berlin to champion a long-trumpeted idea of a climate club to spur climate cooperation beyond the EU.

Two Canadian-based offset companies have partnered to scale up a series of domestic ‘grouped’ decarbonisation projects.

The steel industry in China and India is set to shun the move away from blast furnaces to less polluting electric arc furnaces (EAF), while the global industry has ignored the impact of metallurgical coal mining from its carbon accounting, according to a report published on Tuesday.