Carbon Pulse

Members of the public, non-profits, and energy producers want the RGGI cap-and-trade system to better model the impacts of renewable energy projects, and also reconsider a proposed full annual compliance surrender, according to newly released comments submitted to the scheme’s ongoing RGGI’s Third Program Review.

The UN’s Green Climate Fund (GCF) approved $736.4 million of funding across 15 climate projects in developing countries this week, support that is expected to be boosted to $3.6 billion once co-financing is included.

Levels of optimism on whether the EU is on the right track eight years on from signing of the Paris Agreement diverged amongst key climate stakeholders at an event in Brussels on Friday, as the experts prepared for this year's UN negotiations where they deem it crucial to secure a global fossil fuel phaseout commitment.

Now is the time for regulation to hold the financial sector to account on nature loss, and tools like biodiversity credits and patient capital can catalyse action, according to a Switzerland-based NGO.

The $750-million dollar deal between New York-headquartered Hess and the Guyanese government for the purchase of tens of millions of avoided deforestation carbon credits will not be affected by the former's acquisition at the hands of the global energy giant, Guyana's vice president said Thursday.

EU leaders tasked Brussels to accelerate work to safeguard the competitiveness of the bloc's clean technologies in the conclusions adopted on Friday following their European Council summit, responding to pressures from the industry for the upcoming legislature.

Using acoustic monitoring devices to collect data about ecosystem health based on the sounds of different animals living in an area is a powerful and cost-effective way of measuring biodiversity and should be one of the primary data collection methods in new biodiversity crediting systems, say industry sources.

A roadmap for implementing a forest partnership between the EU and the Republic of Congo has been signed by the European Commission's environment chief Virginijus Sinkevicius.

The government of British Columbia has launched a “unique” crowdfunding initiative for protecting old growth forests with C$300 million ($217 mln) of initial capital.

European carbon prices traded within Thursday's high-low range on Friday morning, reflecting a lack of momentum or conviction in either direction as traders took to the sidelines ahead of the weekend, while energy markets were modestly firmer even as fundamentals remained broadly unchanged.

South Pole has pulled out of the troubled Kariba REDD forest protection project in Zimbabwe with immediate effect, it said on Friday, following earlier news that certifier Verra was halting credit issuances and launching an investigation into the project amid allegations of trophy hunting and financial malpractice.

Carbon Border Adjustment Mechanisms, or CBAMs, are one of the key drivers of carbon pricing development across Asia as nations increasingly seek to cooperate with the EU on its policy slated to enter into force in 2026, a conference heard Wednesday.

China's national carbon market saw prices remain stable over the past week with a relatively high trading volume, while voluntary trading volume ticked up as sentiment has been lifted by the multiple regulatory updates recently.

Standardisation and scale are the watchwords of the growing removal industry, seen as key by its proponents and the IPCC in the path to net zero but getting it into compliance markets will be essential, a conference heard this week.

Australian Carbon Credit Unit (ACCU) transactions have largely been bilateral over the counter (OTC) deals in recent months as the brokered secondary market has been trading sideways, according to analysis.

More government guidance is needed to unleash demand for carbon credits from Japanese companies, despite Tokyo's recent efforts to support the development of the country's voluntary market, a conference heard Thursday.

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

Canadian Prime Minister Justin Trudeau announced Thursday a temporary pause on carbon levies for home heating oil and a doubling of the revenue-neutral fee rebate for rural residents, in a move seen to bolster support for the federal Liberal government among residents of the Atlantic provinces.

*PREMIUM LISTING - Verra is a global leader helping to tackle the world’s most intractable environmental and social challenges. As a mission-driven non-profit organization, Verra is committed to helping reduce greenhouse gas emissions, improve livelihoods and protect natural resources across the private and public sectors.

California Carbon Allowance (CCA) values rocketed to a new all-time peak after the WCI jurisdictions said they will present modelling of how slashing their cap-and-trade budgets could impact permit prices, while Washington Carbon Allowance (WCA) prices jumped early in the week despite the market remaining relatively illiquid.