Carbon Pulse

A benchmark pricing company has struck a deal to display carbon credit ratings on its platform with a view to creating ‘price baskets’ for carbon projects.

The Nigerian government has underlined its commitment to reducing emissions through the establishment of a carbon market, its minister of environment said at an event in the country.

Indonesia has brought in more regulations governing carbon capture and storage (CCS) work as it sees the tech as an integral plank in its plans to meet its Nationally Determined Contributions and meet its net zero by 2060 commitment.

The Coalition of Rainforest Nations (CfRN) has stepped up its campaign to promote UN-approved sovereign credits from REDD+ forestry protection, launching a new report guiding how they could be used towards meeting national climate targets under the Paris Agreement.

The Australian government is helping to keep the nation’s steelmaking industry alive with A$200 million ($131.45 mln) in grants to two of the country’s three remaining steel mills, while also hoping to reduce carbon emissions.

A Massachusetts-based non-profit dedicated to marine research will receive a donation of $25 million to support ocean-based climate solutions that can help strengthen the operations of the emerging blue carbon market.

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

The Canadian province of Ontario announced Tuesday that it will pour C$9.4 mln ($7 mln) into 14 projects for research, innovation, and modernisation initiatives around the use of forest biomass, although one expert has criticised the programme for threatening local forest carbon stocks.

A report from an industry-labour-NGO partnership released Tuesday recommended a slew of policies to the US government to mobilise over $25.4 billion of available funding plus tax credits to achieve industrial net zero emissions by mid-century.

Just 8% of carbon credits are to be fast-tracked for the ICVCM’s Core Carbon Principles (CCP) label, while almost half of the units in the voluntary market come from methodologies deemed too contentious to be immediately approved, the cross-stakeholder initiative announced Wednesday.

Oregon's low carbon fuel programme, which regulates transportation fuel producers and importers in the state, looks to adjust its carbon intensity (CI) assessment model and verification of electricity transactions for credit generation, mostly in line with California’s LCFS scheme, staff detailed in a Tuesday workshop.

The Science Based Targets Network (SBTN) will delay validating the programme’s first nature targets till July after initially planning their debut for Q1 of 2024, according to Executive Director Erin Billman, in the interest of supporting ambition among the 17 firms participating in the pilot phase.

Australia has committed another A$70 million ($46 mln) to develop a renewable hydrogen production centre as part of its Hydrogen Hub initiative, this time in Northern Queensland.

The primary objective of this project is to facilitate the further development of Nature-Based Solutions (NBS) in Morocco. The project aims to establish perspectives for implementing NBS in Morocco by 2030, 2040, and 2050, addressing challenges related to climate change, biodiversity conservation, and development. The consultant will play a crucial role in delivering the project’s outputs, as defined by Morocco’s Ministry of Energy Transition and Sustainable Development.

The EU risks missing its 2030 emissions reduction target as five countries have so far failed to set out adequate plans to develop their renewable power, hydrogen, land use, bioenergy, and CO2 storage within the next six years, according to a report released on Wednesday.

Environmental and social safeguards are becoming increasingly crucial for project implementation, but the market requires better guidance to effectively integrate risk management into carbon projects, webinar attendees heard Tuesday.

A municipality in Alberta announced signing a memorandum of understanding (MoU) with a fuel producer to build a $600 million synthetic gasoline facility that would include carbon capture and sequestration (CCS) and hydrogen production.

The Western Canadian province relies on Old Growth Management Areas (OGMAs) as a method of accounting towards its commitment to protect 30% of lands by 2030, but an environmental non-profit reported Monday that BC's OGMAs do not meet Canadian or international conservation standards, do not entirely contain old forest, and are at risk of logging.

The European Commission adopted new rules on Tuesday to harmonise the free allocation of emission allowances under the EU Emissions Trading System, although the cement sector remains mostly untouched.

The US National Science Foundation (NSF) on Monday awarded 10 projects up to $1.6 billion in funding over the next decade, one of the single largest investments in region-based research and development in the nation's history, in an effort to promote economic competitiveness through innovation in energy and climate.