Carbon Pulse

US tech giant Amazon is increasing its investment in the vast rainforest after which it is named through two new agroforestry projects, in an effort to meet its 2040 net zero pledge and promote projects that meet a new standard, company representatives told Carbon Pulse on Wednesday.

Hosts UAE plan to push voluntary carbon markets (VCM) at COP28, with regional involvement likely to ramp up at the summit, announcements expected on new and existing crediting initiatives, and stakeholders anticipating preparations for the convergence of private-sector markets and government ones under the UN Paris Agreement's Article 6, in light of a rising number of international bilateral trade agreements and a wider drive towards raising integrity.

Policymakers around the world have made progress this year on improving energy efficiency, but this is not moving fast enough to meet climate targets, the IEA said in a report published on Wednesday.

Switzerland-headquartered Holcim on Wednesday announced a three-year partnership with IUCN to strengthen their environmental cooperation, including plans for the conservation group to validate Holcim’s biodiversity baseline.

New York-based exchange provider Nasdaq on Wednesday launched a new technology it said can securely digitalise the issuance, settlement, and custody of carbon credits to pave the way for institutionalising the global emissions market, with its own carbon removal standard the first to sign up.

A cross-sector alliance that aims to revitalise Japan's carbon credit market is planning to launch a carbon exchange next spring, it announced Wednesday.

A Malaysian state government has signed off on allowing one of its local oil companies 1.32 million hectares (3.2 mln acres) for carbon capture and storage, local media reported Wednesday.

Global beauty product brand L’Oreal is partnering with the Great Barrier Reef Foundation (GBRF) to pioneer a methodology to calculate the value of coral reef biodiversity and support the deployment of heat-tolerant corals, the latter announced Wednesday.

South Korea has activated a temporary price floor in its domestic emission trading scheme (ETS), as the government aims to stabilise the sagging prices in the oversupplied market for the remainder of the year.

Australia could be under-reporting its coal mine methane emissions by more than 80%, according to a report released Wednesday.

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

A report released by the World Economic Forum (WEF) and consultancy Accenture on Tuesday assessing the decarbonisation efforts of heavy industry and transport sectors says the industries require $13.5 trillion in investment to achieve net zero by 2050.

Oil and gas company Santos has urged the government to provide a guaranteed supply of Australian Carbon Credit Units (ACCUs) in order to meet its compliance regulations under the Safeguard Mechanism, according to tabled correspondence.

The government of Alberta will provide energy, building, and chemical industries with a 12% incentive tax credit for new eligible capital project costs on carbon capture, utilisation, and storage (CCUS) operations, funded in part by its emissions trading system, the province announced Tuesday.

Alberta’s United Conservative government introduced a resolution Monday to challenge the federal Liberal government’s draft regulations in pursuit of a nation-wide net zero electricity grid by 2035.

The Voluntary Carbon Markets Integrity Initiative (VCMI) issued new guidance today for carbon credit-buying firms, including a new proposed use case for carbon credits that has swiftly divided opinion, with campaigners warning the proposal risks diluting company goals and market participants claiming it could raise ambition by encouraging more companies to take action.

A technology company, an offset project developer, and an Indigenous tribe have pooled resources and funding to co-develop the first phase of an Improved Forest Management (IFM) project in the northern regions of British Columbia.

EU ETS revenues are still being directed to fossil fuels infrastructure due to legal loopholes and a lack of transparency, green groups warned on Tuesday.

India has pledged to triple its renewable energy capacity by 2030 as part of efforts to meet climate targets, but needs to spend $101 billion more than planned this decade to align itself with the International Energy Agency’s pathway to meeting its 2070 net zero target, according to a report released Wednesday.