Carbon Pulse

Rugby World Cup 2023 host France has launched a tender seeking offers for carbon credits to compensate for the emissions resulting from the ongoing tournament.

Investment in the voluntary carbon market will tumble sharply in the next two years after a surge of money flooded in over the last two-and-a-half years when carbon credits prices hit a peak, according to research published on Thursday.

Lack of progress towards climate goals is undermining global efforts to tackle hunger, poverty, ill health, access to clean water and energy, and many other aspects of sustainable development, according to a UN report released Thursday.

The City of London Corporation has called for the UK to include marine biodiversity in its nature credits market as a “matter of urgency” as part of its ambition for the country to become a global nature finance centre, it has said.

A moratorium should be placed on the highly controversial practice of geoengineering to control climate change, while allowing for ongoing research into the possibilities of using solar radiation management given the magnitude of the problem and the need to prepare the ground for future generations, an expert body concluded in a report published Thursday.

Next week's summit, organised by UN secretary-general Antonio Guterres in New York, will provide an opportunity to hold the rich world to account for their poor record on climate finance and set the tone for core topics of discussion at COP28 in Dubai at the end of the year, a webinar heard Thursday.

A Brazilian fintech firm is aiming to raise R$300 million ($61 mln) for a second carbon credit-focused fund after the success of its first offering and hopes to benefit from the proposed emissions trading scheme in the country, a local media outlet reported Wednesday.

The durable carbon dioxide removal (CDR) market could grow to $135 billion by 2040 if the price of units can fall to $150 per tonne, according to projections made in a report this week from one of the world's largest consultancy firms.

The UN body responsible for guiding the Paris Agreement's carbon crediting mechanism made significant progress at this week's penultimate meeting, with observers noting they had never seen such consensus among the group, but ultimately failed to adopt final texts on methodological guidance after running out of time, leaving crunch discussions for the final meeting later this year.

A study compiling the best companies in terms of their climate leadership has found that 16 of the 27 highest performing firms are based in Europe, while those involved in the fossil fuel industry still failing to prioritise action. 

The largest offshore wind developer in the world on Thursday called on all renewable energy developers to set net-positive biodiversity targets when developing projects.

The European Parliament gave the green light to start negotiations with member states on a bill to regulate the EU's rapidly-decarbonising electricity market, during a plenary session on Thursday in Strasbourg.

The EU's Critical Raw Materials Act will accelerate the path towards the bloc's resource sovereignty and competitiveness, according to members of the European Parliament on Thursday after voting on a united position to take forward into negotiations with member states on a bill designed to reduce the bloc’s dependency on imports of the raw materials indispensable for clean technology.

European carbon prices extended their rally on Thursday amid a short squeeze that began after the previous session's weekly Commitment of Traders report, before consolidating their gains amid a drop in natural gas, as traders speculated whether short-term fundamentals are sufficiently bearish to justify the recent decline, and how long the current rally would last.

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Climate Asset Management has set aside 10% of a land acquisition in Australia for supporting biodiversity despite no clear way of capitalising on it through nature-related credits, its CEO has said.

A space tech firm and a carbon markets intelligence company have teamed up to enhance the transparency and integrity of forest carbon projects, leveraging earth observation data and machine-learning to produce natural capital data and insights.

A global environmental NGO has released a whitepaper outlining their position on biodiversity credits, as it seeks to establish high integrity across the emerging market.

Banks and Australian superannuation funds are no longer interested in backing thermal coal companies but see a longer shelf life for oil and gas companies given it is an energy source that will continue to have a role in the energy mix.

A carbon offset marketplace has started to list carbon credits certified under a newly established standard initiated by South Korea's major trade group, as the country is seeking to support the development of private sector-led voluntary carbon markets.