Carbon Pulse

An organisation representing eight central banks has issued guidance on how financial institutions can approach nature-related risk.

A major fintech company in India has partnered with an Australian cleantech startup to promote carbon neutrality in the sector.

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The world’s largest oil giant, Saudi Aramco, also has the weakest climate pledges of the oil and gas majors, according to a report published Thursday by a think-tank, while European firms have significantly more advanced plans than others regions such as North America and Asia.

Two conservation groups lead an initiative that aims to raise $1 billion in order to protect and restore 1 million hectares of land across Northeast India, Bhutan, Nepal, and Bangladesh.

The IT solution arm of Japan's Hitachi group is planning to launch a new business next year that provides comprehensive support for the creation and trading of forest-based carbon credits, making a foray into the domestic offset market.

An academic paper on debt-for-nature swaps published this week found that of 67 highly indebted countries studied, over half could protect all their biodiversity for only a fraction of their debt relief.

Introducing mandatory natural capital accounting and nature risk disclosure schemes would create the foundation for demand in a New Zealand voluntary biodiversity credit market, according to government-commissioned advice.

Japan's Mitsubishi Electric has teamed up with a Singapore-based software provider to develop and market solutions that support carbon neutrality in the manufacturing sector, it announced Thursday.

Indonesia’s state oil company Pertamina would like to see a carbon trading mechanism for carbon capture and storage (CCS).

Some of the world’s largest forestry companies on Thursday jointly launched the International Sustainable Forestry Coalition (ISFC) to support a greater role for the forestry sector in the sustainability transition.

BP’s planned clean fuel and green hydrogen hub at its shut-in oil refinery in Perth in Western Australia would have struggled to get past the first post without A$70 million in funding from the Australian federal government in April last year.

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

Carbon Pulse has increased its global team of reporters by nearly 50% in its largest hiring push to date, as the company channels significant investment into further strengthening the world’s premier carbon markets news service.

An agtech-focused carbon credit developer has had its methodology published in a peer-reviewed journal, which they claim adds scientific weight to their crediting approach.

It will likely take until 2024 for three different integrity initiatives to resolve declining voluntary carbon market (VCM) prices, researchers said in a report released Wednesday.

First Sentier Investors, a global investment manager, has launched guide Thursday designed to help institutional investors identify and assess nature and biodiversity risk in portfolio companies in light of the final framework outlined by the Taskforce on Nature-Related Financial Disclosures (TNFD), which is due to be published imminently.

Confusion on how to understand the legal nature and classification of carbon credits highlights the need for global harmonisation in the international marketplace, said a panel of lawyers at a webinar on Wednesday.

D6 RINs plunged to a 1.5-year low this week, as market participants attributed the decrease to an oversupply of D4 credits under the US Renewable Fuel Standard and the impact of a falling bean oil-heat oil spread.

The August auction for Washington’s WCI-modelled cap-and-invest programme sold out at a new high and triggered its second reserve sale this fall, according to results published Wednesday, though permit values tumbled on the secondary market after the Department of Ecology (ECY) revealed millions of these forthcoming cost containment allowances would be sold exclusively at the scheme’s lower reserve tier price well below recent levels.