Carbon Pulse

The Voluntary Carbon Markets Integrity Initiative (VCMI) will publish additional guidance on Nov. 28 to supplement its 'Claims Code of Practice' that is expected to include details of easier tiers of achievement to help corporates onto the mitigation ladder, while still avoiding allegations of greenwashing when buying carbon credits.

The European Parliament adopted on Tuesday its position on the EU's proposed Net Zero Industry Act (NZIA), proposing a wider list of go-to technologies and moving towards ETS-funded sovereignty.

Health companies reliant on functioning ecosystems and healthy water supplies for business continuity are taking the lead in reporting their nature dependencies through the Taskforce on Nature Related Financial Disclosures (TNFD) and striving to curb their impacts on the natural world, with several leading multinationals mapping their value chains to understand their biodiversity impacts more closely.

Climate Impact X (CIX) has temporarily suspended credits from a troubled Kasigau corridor project (VCS 612) into delivery for its nature-based benchmark, Nature X, with immediate effect, a day after two senior staff member at the project were sacked in relation to ongoing investigation into sexual harassment and abuse allegations.

Carbon prices in Europe initially tumbled on Tuesday morning, taking their cue from a declining natural gas market and a weak auction, to approach the year-to-date low reached at the start of the month, before later rallying as selling activity dwindled towards midday.

The EU’s first draft legislation defining a framework for certifying carbon removals passed with a large majority during a vote in the full European Parliament in Strasbourg on Tuesday, paving the way for negotiations with member states and the European Commission for an agreement on the file.

Australian miner Fortescue took another step to trying to realise its vast clean energy hopes Monday with the sanctioning of two hydrogen projects prior to its annual general meeting in Perth at a cost of over $700 million.

Indonesia has launched its Comprehensive Investment and Policy Plan (CIPP) under the Just Energy Transition Partnership (JETP), which includes a $20-billion plan to invest in renewables as part of efforts to rid its power sector of coal.

A major carbon credit project developer and trader in South Korea on Tuesday made its debut on a major domestic exchange, with plans to secure more carbon credits under Article 6 of the Paris Agreement.

An emissions reduction requirement in Australia’s National Energy Objectives (NEO) came into effect as of Tuesday, however analysts say key questions remain around its implementation. 

A Malaysian state has become the nation’s first to pass legislation that will support the generation and sale of carbon credits, and impose a carbon tax of companies failing to report on their emissions.

Nearly two months since the official launch of Indonesia’s national carbon exchange the platform has seen little trading activity, with its operator and market participants raising several key issues holding it back, however growing international interest and further regulatory development will see the market grow, they said. 

A Southeast Asian gas lobby group has launched a new carbon capture and storage accreditation study that will look at the best way to earn carbon credits.

Greater pressure should be placed in COP28 negotiations on countries to deliver fast and effective emissions reductions by phasing out fossil fuels and transitioning to low-carbon industry, seeing as a small number of high-emitting, high-income nations are overly reliant on land use to offset emissions in their climate pledges, according to a report published on Tuesday.

The Carbon Project Manager will join AGL’s growing in-house carbon project development team to advise and lead the development of carbon (Australian Carbon Credit Units / ACCU) projects throughout the project lifecycle across a range of current and future methodologies.

Australian oil and gas company Santos is partnering with Tokyo Gas to explore producing carbon neutral synthetic methane, or "e-methane", in Australia, the former announced Tuesday, as the state of South Australia passed legislation supporting its renewables and hydrogen industry.

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

The world is already planning for a doubling of renewable power capacity by 2030, analysts said in a report published on Tuesday, adding that this should give confidence to governments that a global agreement to triple renewables this decade is achievable.

China is considered on track to reach its climate commitments for this decade, despite observers having mixed expectations on the country's coal consumption in the coming years, a report has found.