Carbon Pulse

Canada is on track to achieve between 85-90% of its 2030 emissions target, meaning that a number of additional measures are required to reach the federal goal of at least 40% below 2005 emissions by 2030, according to an independent assessment of Canada’s 2023 Emissions Reduction Plan Progress Report.

The ICVCM will hold board meetings at least once a month and post regular notices of upcoming activity from January to try to keep a regular flow of decisions on whether carbon credit categories are eligible for its Core Carbon Principle (CCP) labelling, board chair Annette Nazareth and interim chief operating officer Amy Merrill told Carbon Pulse.

The US Department of Treasury and Internal Revenue Service (IRS) released information on Friday clarifying eligibility for the sustainable aviation fuel (SAF) tax credits, intending to incentivise low carbon jet fuel production to reduce greenhouse gas (GHG) emissions and scale the industry.

The European Bank for Research and Development (EBRD) has introduced new criteria intended to restrict financial support to midstream and downstream fossil gas projects that are deemed ‘exceptional’ cases, but has stopped short of ending funding in the sector.

Direct air capture (DAC) technology has become a key focus in the fight against climate change, but a group of scientists and entrepreneurs have come out against the solution, calling it 'outrageously expensive boondoggle'.

A carbon credit certifier has signed an MoU with an alliance representing 16 West African countries, aiming to accelerate the implementation of Article 6 and promote carbon market instruments across West Africa.

A green methanol producer looking to rapidly scale up fuel supply in the US and Europe says that both regulatory and retail factors are driving shipping companies to purchase green fuel, including the EU's ETS and FuelEU maritime policy, under which overachieving shippers can receive credits to sell onto others.

Energy ministers from EU candidate nations have called on Brussels to set out their potential carbon pricing options as they scramble to establish policies that can mitigate the impact of the EU's carbon border adjustment mechanism (CBAM). 

The world’s leading carbon credit certifier has signed an MoU with a bank-led pilot programme for farmers seeking to utilise marginal land, aiming to support capacity-building for participation in land use-based projects. 

A forestry project in Uganda has obtained Forest Stewardship Council (FSC)-certified accreditation for its soil conservation, enabling it to ask for sponsorship for its work.

European carbon prices were relatively stable on Friday morning as the relentless selling pressure appeared to pause, though traders were cautious about a renewed assault in the afternoon after Thursday's late decline, while energy markets weakened for a second consecutive day on mild weather and higher renewable output.

Coal use hit a record high last year after several years of Covid- dampened demand, largely driven by three Asian economies and to a lesser extent Europe, according to a report published on Friday that predicted a further record this year before demand dips and then plateaus to 2026.

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Taiwan has released a policy draft regulating the trading of domestically issued emissions reductions credits as supplementary measures to complement the island's proposed carbon levy scheme that will be developed in the coming few years.

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Weekly trading volumes in China's national carbon market continued to shrink over the past week due to slowing compliance demand, with participants saying most regulated entities have now surrendered their permits for 2021 and 2022 compliance.

Western Australia will end commercial logging in its old growth and native forests from the beginning of next year, according to a government plan released Friday.

Environmental trading platform Regen Network is lining up a vote among its community members to decide whether to start listing units generated by Colombia-based Terrasos as a first outright biodiversity credits on the platform, with others to follow.

The states of Western Australia and Queensland both made updates to their climate plans this week, showing the yawning levels of difference in ambition, at least on paper, between them.