Carbon Pulse
News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 1 hour 14 min ago
COP28: Multilateral development banks pledge to scale climate finance via programmatic approach
The leaders of major multilateral development banks (MDBs) pledged to scale up climate finance and development funding through a new approach structured around country sector platforms rather than individual projects, at an UNFCCC hosted discussion on Monday at COP28 in Dubai.
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COP28: Asian industrials face financial peril without decarbonisation, study warns
Asian cement and steel companies may face severe financial challenges in the next decade unless they commit to decarbonisation, according to a new academic study.
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RGGI Markets: Prices steady on high volume ahead of auction
RGGI allowance (RGA) values seesawed over the week amid skyrocketing volume ahead of the coming Q4 auction, as an exchange traded fund (ETF) sold off some of its holdings and the front-month contract went into delivery.
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COP28: Canada releases draft regulations to curb oil and gas sector methane emissions
Canada announced a set of draft regulations on the sidelines of COP28 in Dubai on Monday to tackle methane emissions from its oil and gas sector, aiming to align with the government's commitment as a signatory of the Global Methane Pledge to curb output of the potent warming gas.
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US well-plugging carbon credit company replaces CEO, announces acquisition
A Florida-headquartered company that plugs abandoned oil and gas wells to reduce methane emissions and generate carbon credits has replaced its CEO and has made an acquisition through a subsidiary.
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European Commission pledges to be on guard for carbon leakage from extension of ETS to shipping, as several nations urge delay
The European Commission said on Monday that it plans to monitor the potential for carbon leakage from the extension of the bloc’s ETS to the maritime sector, aiming to ease the concerns of several member states who urged the bloc to delay the inclusion of international shipping.
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COP28: US market regulator launches voluntary carbon credit trading guidelines
The US Commodity Futures Trading Commission (CFTC) published on Monday a set of principles for voluntary carbon credit derivatives contracts for trade on CFTC-regulated exchanges, a document flagged earlier in the day by the CFTC's chairperson at COP28 in Dubai.
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VCM Report: Brisk carbon credit trade like the ‘old days’, as COP28 fires up confidence in future
Carbon credit trade remained brisk in the voluntary market in the last week of November amid end of year covering, although the REDD sector continued to cast a shadow over the brighter future promised by the headlines emerging from COP28 in sunny Dubai.
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COP28: Regulatory reform among six key factors to tripling nuclear energy -report
On the heels of a declaration by countries seeking to triple nuclear energy capacity, a group of non-profit policy advocacies launched a report on Monday on the sidelines of COP28 in Dubai with guidelines for the development of new international initiatives for the sector.
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COP28: DRC receives $40 mln to appraise natural capital for biodiversity and carbon crediting
A tech company inked a deal with the Democratic Republic of the Congo (DRC) on Monday to invest $40 million in the measurement and valuation of the country's natural assets for potential carbon and biodiversity crediting.
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Australia Market Roundup: ACCU demand projections likely to rise, issuance flat
Demand for Australian Carbon Credit Units (ACCUs) is likely to rise as more sectors of Australia’s economy are subject to decarbonisation policies, market observers told a panel discussion at COP28 in Dubai.
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COP28: Parties clash on Article 6 carbon removals text, as observers, negotiatiors describe ‘all or nothing’ scenario
A clash over carbon removals at COP28 is threatening to stall progress on developing the UN crediting mechanism, as some country negotiators wish to reopen talks over a key set of recommendations agreed ahead of the summit, which would could see a year of work "wasted", according to multiple sources.
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COP28: Climate summits fast becoming trade negotiations issue, warns banker
Climate events such as the annual UN summit are moving rapidly towards becoming a place to debate issues with international trade negotiations, a banker told a panel discussion at COP28.
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COP28: Global CCS reliance to cost $1 trillion per year -report
Heavy dependence on carbon capture and storage (CCS) would be “hugely economically damaging”, costing nations globally around $1 trillion per year compared to an approach more strongly focused on renewable energy, a new report has found.
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COP28: South Korea should consider setting reference price for domestic ETS, govt official says
The government of South Korea should introduce more measures to improve the efficiency of the domestic emissions trading scheme (ETS), engaging more investors to participate in the market by setting a reference price, a panel heard Monday.
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COP28: Initiative launches partnership to bring Australian savanna burning method to Africa and the world
An international initiative is seeking to replicate Australia’s successful savanna burning methodology to African nations and use the projects to generate Article 6 carbon credits, a COP28 side event heard Monday.
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COP28: Vanuatu criticises low lock-in price under Swiss international carbon trade deal
Switzerland's international carbon trade project in Vanuatu has a lock-in price that is too low, officials from the Pacific Island nation told Carbon Pulse on the sidelines of COP28, though the host country remains optimistic about its involvement with Article 6.
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COP28: Timor-Leste working on VCM regulation, national registry, preparing for Article 6 projects
The Southeast Asian nation of Timor-Leste is preparing regulations and a national registry to govern voluntary carbon market projects in the country in preparation to eventually host Article 6 projects within its borders, an official told a panel discussion at COP28.
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Euro Markets: Midday Update
EUAs weakened steadily on Monday morning as they came under renewed selling pressure after Friday's rally, while gas prices fell back amid milder weather forecasts and observers predicted that carbon prices appeared likely to remain under pressure for at least another week.
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COP28: Bhutan launches national carbon registry, becomes first country to integrate with CAD Trust
Bhutan launched its national carbon registry at COP28 on Monday, also integrating itself with the Climate Action Data (CAD) Trust, the first country to do so.
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