Carbon Pulse

Japanese shipping giant Mitsui OSK Lines (MOL) has completed concept designs and acquired approval in principle (AiP) for a liquefied CO2 (LCO2) project from two major maritime classification societies, it announced on Wednesday.

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

The cross-stakeholder Voluntary Carbon Markets Integrity initiative (VCMI) on Wednesday published its guidelines to help buyers ensure integrity when purchasing carbon credits for voluntary climate pledges, a partial release coming a year on from its initial draft that leaves further details for later in the year.

Two US senators have introduced a bipartisan clean cookstoves bill aimed at mitigating health, environmental, and economic issues caused by exposure to smoke from traditional stoves and open fires.

The UK government will consult later this year on how it can develop as a global carbon crediting hub, an official said on Tuesday, while ruling out prospects that the country could buy Article 6 credits in the near term.

The Washington Department of Ecology on Tuesday published the schedule for distributing no-cost allowances to natural gas utilities under the state’s cap-and-invest regulation with one company receiving the majority.

Britain's independent climate change advisors have cited "a missed opportunity" after the government published a new climate goal delivery plan, the committee stating it was now even less confident in the country meeting its goals from 2030 onwards than one year ago.

Climate Investment Funds on Tuesday said it earmarked $40 million in grant financing that will allow Indigenous and local communities across the Global South to engage in natural climate solutions.

Microsoft over the past year ratcheted up its contracted volume of engineered carbon removal credits that will store GHGs for thousands of years, though still procured millions of tonnes of nature-based units with shorter permanence horizons, the tech giant said Tuesday.

A Texas-based sustainability technology firm on Tuesday announced a multi-year agreement to purchase carbon removal credits from a phytoplankton dispersal methodology.

Around half of the cuts in on-farm agricultural emissions required to maintain a 1.5C global temperature pathway are either cost-neutral or yield positive returns on investment, but major barriers are still hindering adoption amongst growers, according to a new study by a major consultancy.

The trial dates for a natural gas-fired power generator’s legal challenge to Washington cap-and-trade regulation were delayed by four months following an agreement between the disputing parties and the judge on Monday, allowing lawyers more time to review the case.

Early participants in the voluntary biodiversity credit market have welcomed the move by France and the UK to develop a global market framework, but stress the need for the government process to work with existing initiatives.

The US Commodity Futures Trading Commission (CFTC) on Tuesday announced it will host its second voluntary carbon markets (VCM) convening in July that may inform future guidance or interpretations related to the agency’s authority over the sector.

An agtech startup specialising in digital tools and technology-based strategies for sustainable farming in Eastern Europe has raised $5.5 million in a new funding round, the company announced on Tuesday.

A digital marketplace has launched a new service to seamlessly integrate carbon credits into a company’s products and services.

A US-based agtech firm has teamed up with an oil major to offer a “high-trust, low-cost” carbon measurement and verification system to help the farming sector improve its sustainability practices.

Indonesia’s deforestation rate fell 8.4% in 2021-22 and is now at its lowest levels in two decades, according to government data.

The UK’s construction industry should implement an internal carbon price and seek other emissions reduction measures instead of over-relying on offsetting to reach its climate action targets.

European carbon prices made laborious gains on Tuesday morning before falling back to stand only marginally higher at midday, as energy prices edged up as renewable generation was forecast to fall.