Carbon Pulse

The UK looks set to slide up the climate action charts following the landslide win for the left-leaning Labour Party in the general election, with manifesto pledges including increases to renewable energy and halting new fossil fuel developments.

The founder of a startup claiming to be the first digital currency backed by carbon credits believes their firm's solution can set the tone for large-scale growth of the innovative climate finance tool.

An estimated 721,000 hectares of forest in Indonesia have been cleared for mining between 2001 and 2023, including 150,000 ha of primary forest, an analysis has found.

Relocation outside of the bloc and circumvention of the taxonomy are two responses likely to be taken by companies when the true financial impact of the EU’s Carbon Border Adjustment Mechanism (CBAM) starts to kick in later this decade, in addition to securing supplies of low-carbon materials, according to an expert at a global consultancy.

The European Commission’s trade directorate is currently looking at adjustments to the EU’s CO2 border tax and anti-deforestation laws in order to avoid alienating foreign countries whose cooperation is needed to enforce the legislation, a senior EU official has said.

The UK Labour party, following its election victory, must take steps to allow the private sector to engage with the nutrient neutrality scheme, said an expert whose company has had to halt around 15 such schemes due to uncertainty.

Liberia has set up an expert group to help the African country move forward on carbon markets legislation, following a government meeting this week, local media reported, with a moratorium on market activity in discussion until a framework has been put in place.

Pressure had mounted on Luiz Amaral, the former chief executive of the Science Based Targets initiative (SBTi), from the organisation’s own technical group before he decided to step down from his role for personal reasons this week, an internal letter seen by Bloomberg has revealed.

European carbon prices traded in a tightly-defined range for a third session as the summer holiday season swung into its peak period, with technical support and resistance levels compressing slightly as the market's volatility has calmed, while UK Allowances were little changed after a landslide election result ushered in a centre-left government that is expected to increase action on climate issues.

The European Commission must develop a heating and cooling plan in order to meet its 2030 decarbonisation goals and prepare for the introduction of a dedicated Emissions Trading Scheme (ETS) for heating and transport, a coalition said this week.

The Vietnamese government has proposed tax exemptions on revenue earned through carbon credits and green bond interest in an effort to bolster the development of its domestic carbon market, local media reported Friday.

The deployment at scale of carbon capture and storage (CCS) across Europe will require stronger cross-border connections, with CO2 transport pipelines and regulated markets seen as the next big challenge by industry experts.

China's national carbon market saw its price continue to fall over the past week with shrinking liquidity, though observers expect a resurgence in trading activity in the coming months after the government finally released a draft allocation plan for 2023 and 2024 this week.

Credits in forest conservation can become "trailblazers" for high integrity, despite being the focus of multiple scandals over the past few years, an expert in nature-based solutions has told Carbon Pulse.

Papua New Guinea will introduce a 7% fee on the proceeds of carbon credit sales this month, the government has announced, in order to raise desperately needed cash from mitigation and adaptation activities.

Plan Vivo has updated its carbon credit standard and opened it for public consultation ahead of submitting its application to the Integrity Council for the Voluntary Carbon Market (ICVCM) to comply with the Core Carbon Principles (CCP).

Chinese steelmakers could reduce the costs they have to pay under the EU's Carbon Border Adjustment Mechanism (CBAM) by more than 70% if they implement timely emissions reduction measures, a report has found.

The net credit surplus in Washington’s Clean Fuel Standard (WCFS) soared towards the 1-million mark in the fourth quarter of 2023, with growth in electricity surpassing ethanol crediting, accompanied by declines in gasoline and diesel volumes, state data showed.

The cost of a carbon allowance in Quebec’s carbon market is too low to limit global temperature increase to 2C, a government advisory committee said in a report published Wednesday, as they called for revisions to the province’s cap-and-trade programme to encourage further emissions reductions and increase the cost of carbon.

American Airlines will prioritise sustainable aviation fuel (SAF) to fulfill its obligations under UN's Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) but also expects to use carbon offsets, according to its 2023 sustainability report, while the Financial Times (FT) reported Wednesday that British Airways will raise its prices to cover the cost of reducing its CO2 emissions.