Carbon Pulse

The first UNFCCC-approved sovereign credits from REDD forestry protection, that can be used towards climate targets, will appear for sale in the middle of the year, and prices will likely be fixed annually in an OPEC-like cartel to counter market volatility, Kevin Conrad, the chief executive of the Coalition of Rainforest Nations (CfRN), told Carbon Pulse this week.

The world’s top food producers could use their combined purchasing power to create demand of up to $20 billion a year by 2030 for agricultural commodities that are produced sustainably, industry figures said in Davos this week.

A farmer cooperative is using the power of scale and a collective voice to fetch a fairer price for its members in the carbon and biodiversity markets.

The UK government has opened a consultation into different bioenergy subsidy options with the goal of supporting power plants over an interim period between when current subsidies end, and new bioenergy with carbon capture and storage (BECCS) facilities are expected to come online.

EU carbon prices extended Thursday's modest rally after the strongest auction result in five months triggered some renewed compliance buying and renewed speculation over whether the market could see a small rally after its recent run of declines.

A large investment manager has published its first timberland and agriculture nature disclosure aligned with the Taskforce on Nature-related Financial Disclosure (TNFD) recommendations in an early move set to spark market interest.

Weekly trading volume in the Chinese carbon market has dropped to the lowest level since mid-June with prices barely moving, while the offset market this week saw liquidity increase amid heightened expectations for policy progress.

A US-headquartered joint venture is set to expand access to its software models in a bid to underpin investments in nature capital and corporate assessments under the Taskforce on Nature-related Financial Disclosures (TNFD) framework, its co-founder has said.

A German biochar firm has partnered with a British carbon removals startup to develop a facility on an industrial site in the north of England.

A major industrial firm in Japan has teamed up with a domestic utility to accelerate the development of next-generation CO2 capture technology, with a pilot project set to become operational in 2025.

A frontrunner group in Indonesia’s presidential election has told local media they would introduce the country’s much-delayed carbon tax, as a government official said the tax would unlikely come into effect until 2025, according to an industry source.

A Singapore-based nature-based solutions company is expanding in the Southeast Asia region, aiming to begin offering credits from its projects by next year.

Increased economic activity and the removal of the Clean Car Discount (CCR) scheme is likely to see an increased demand for NZUs, according to Salt Fund Management’s Carbon Fund, as its value continues to recover.

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

California Carbon Allowance (CCA) prices again broke all-time records this week, although on notably smaller volumes, while Washington Carbon Allowance (WCA) prices continued to decline with a dearth of market activity.

A UK-based global mining company is backing a Chilean developer presenting what it claims to be the nation's first blue carbon offset project, developed alongside a university and aquacultural innovation centre.

Over 100 Vermont legislators have sponsored two companion bills targeting the fossil fuel industry to compensate for their greenhouse gas (GHG) emissions, with the resulting revenues to be used for climate infrastructure developments in the state.

The US Department of Energy (DOE) on Wednesday confirmed signage of the $1.1 billion credit payment to extend the operation of California’s Diablo Canyon power plant in pursuit of a carbon pollution-free electricity sector by 2035.

A US academic institution that was recently awarded Department of Energy (DOE) funding, will receive assistance from a global building materials manufacturer and a technology research firm to scale its industrial carbon capture initiative.

Over two dozen insurers and reinsurers have stated that they have no plans to offer insurance to a controversial proposed oil pipeline in East Africa, according to a coalition of environmentalist groups opposing the project.