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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 25 min 56 sec ago
EXCLUSIVE: Cookstove project developers poke holes in study alleging rife over-crediting
A consortium of offset developers is hitting back at a recent analysis alleging pervasive over-crediting by cookstove projects within the voluntary carbon market (VCM), pointing to what it calls doubts about the study's reliability, in an open letter seen exclusively by Carbon Pulse.
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ARB considers increase in carbon intensity step-down and role of biofuels in LCFS
California regulator ARB is staying on course with the 2030 carbon intensity (CI) benchmark proposed in draft amendments last year, but is mulling adjustments to the one-time CI step-down for 2025 among other considerations based on stakeholder feedback.
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US federal court upholds California’s authority to set state clean vehicle air standards
A Washington DC federal court ruled Tuesday in favour of defendants of a Clean Air Act (CAA) waiver to California, reinforcing the state's longstanding authority to set its own standards that are stricter than those at the federal level.
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US environmental group, energy firm strike “landmark” community benefits agreement for CO2 pipeline
A Colorado-based energy firm and a Nebraska environmental group announced a “landmark” community benefits agreement on Tuesday that ensures a proposed CO2 pipeline can proceed unopposed, setting a precedent for similar projects dealing with local opposition.
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California Senate committee passes tax credit funding for farm soil carbon sequestration
A California Senate committee unanimously passed through funding from the cap-and-trade programme revenues on Tuesday to facilitate a tax credit to farmers for composting practices that enhance CO2 sequestration.
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SBTi poised to validate voluntary carbon credit use for corporate Scope 3 emissions goals
The Science Based Targets initiative (SBTi) has decided that voluntary carbon credits may be used to offset corporate Scope 3 emissions, the body said Tuesday, it what should provide a significant boost for offset demand.
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International steel competitors may reserve low-carbon products for EU to bypass CBAM -industry
International competitors of the European steel industry may bypass the bloc’s Carbon Border Adjustment Mechanism (CBAM) fees by building specific low-carbon facilities whose products will be reserved for the EU market, the head of a regional association said on Tuesday.
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Price volatility, supply issues, low liquidity in CORSIA voluntary carbon market leave traders debating involvement -analysts
Traders are debating the merits of engaging with the nascent CORSIA Phase 1 (2024-26) voluntary carbon market, weighing promises of inexpensive regulatory compliance against large uncertainties, according to experts on a webinar Tuesday.
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RGGI Q2 auction offers slightly higher allowance volumes absent CCR buffer
The volume of allowances on offer inched up for the second RGGI auction of 2024, with a conspicuous zero balance in the scheme’s Cost Containment Reserve (CCR) that was exhausted at the Q1 sale, a notice showed Tuesday.
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Pressure mounts on EU member states to plug conventional and clean shipping fuel cost gap -stakeholders
The pressure to bridge the gap between conventional and clean fuel for the shipping sector is shifting to EU member states, a panel at the European Parliament heard on Tuesday, while key industry stakeholders also stressed the need to reserve climate solutions for hard-to-abate sectors like maritime and aviation.
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FEATURE: Voluntary carbon projects still need sifting despite ICVCM stamp of approval
Work by the Integrity Council for Voluntary Carbon Markets (ICVCM) to label credits with the Core Carbon Principles (CCP) stamp will only go so far in determining the quality of supply, as project-level assessments will still be required to help buyers identify good projects, say market stakeholders.
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LEAK: EU’s draft ‘strategic agenda’ for 2024-29 sees climate policy relegated to second row
A draft outline of the EU’s next “strategic agenda” for 2024-2029, seen by Carbon Pulse, puts defence and security at the top of the EU’s political priorities, while climate policy is refocused on strengthening the bloc's industrial and strategic independence.
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CDC Biodiversite to launch free footprinting tool in “huge” step
French data company CDC Biodiversite will this week launch a free version of its biodiversity footprinting tool Global Biodiversity Score (GBS) with limited features.
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Portugal establishes technical committee to oversee voluntary carbon market
The Portuguese Ministry of Environment and Climate Action has established a technical committee to evaluate carbon methodologies and the performance of the voluntary carbon market (VCM), according to a decree published Monday in the Official Gazette.
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Colombia warns of violation risk in REDD+ projects, extortion of voluntary carbon developers by armed groups
The Office of the Ombudsman in Colombia has issued an official notice about several sectors, including REDD+ voluntary carbon projects, warning of the risk of violations of Indigenous and local community rights, as well as extortion by illegal armed groups.
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‘Positive narrative’ on carbon pricing emerging in Australia, but risks and challenges remain, report says
Growing compliance demand driven by the Safeguard Mechanism and corporates looking to meet ESG requirements is creating a ‘positive narrative’ on carbon pricing and carbon markets in Australia, although ongoing risks and challenges remain, according to a report published Wednesday.
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Norway funds study to assess feasibility of direct air capture and storage plant
A carbon removals developer has secured 26 million Norwegian krone (£1.9 mln) in funding to study the feasibility of building a direct air capture and storage plant in Norway, it announced on Tuesday.
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UK-France panel reveals extended biodiversity credits survey results
A UK-France biodiversity credits panel has published a more detailed version of its call for views on biodiversity credits, as the initiative prepares to launch an Indigenous-focused consultation.
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UN, Brazilian NGO announce German-funded $4.9-mln project to combat deforestation in Brazil
A UN agency and a Brazilian NGO on Tuesday announced a new initiative to promote payment for environmental services (PES) for deforestation-free supply chains, focusing on the Atlantic Forest biome in Brazil – a region critically endangered by deforestation activities.
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Switzerland violates women’s human rights by failing to tackle climate change, European court rules
Switzerland’s failure to reduce greenhouse gas emissions violates its obligations under the European Convention on Human Rights (ECHR), the Strasbourg's Grand Chamber ruled on Tuesday in a landmark decision.
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