Carbon Pulse

Pressure is mounting on the Science-Based Targets initiative (SBTi) to allow companies to use carbon credits to meet emissions reductions targets, after a survey of corporate big hitters found a healthy majority said it would galvanise meeting their mitigation goals.

European carbon prices fell back on Thursday morning as the surge of buying interest that had driven prices back above €65.00 in midweek dried up, while energy markets retreated, encouraging a resumption of more aggressive EUA selling.

UK power company Drax is setting up a new US-based business unit to develop and build large-scale carbon removal projects internationally, it announced on Thursday.

The United Nations Development Programme (UNDP) has released a new set of guidelines to enable governments to identify and redesign subsidies harmful to biodiversity.

The World Bank has issued an outcome bond in partnership with a social enterprise whereby the proceeds will be directed towards reducing and recycling plastic waste, generating plastic and carbon credits to provide a financial return to investors.

A Berlin-based startup that offers a digital voluntary carbon market platform has successfully raised €10.3 million in a recent funding round, it said Thursday.

BP has invested into a software platform that allows corporates and individuals to purchase carbon credits or sustainable aviation fuel (SAF) to offset emissions in hard-to-abate sectors.

An Australian oil and gas company has established a new trading arm in Singapore to sell both its spot cargoes of LNG and get a foldhold into the voluntary and compliance carbon markets.

An independent environmental markets administrator in Australia has joined a broad partnership that is in the process of bidding for government funding to launch an initiative to drive investments in nature positive carbon, biodiversity, and natural capital initiatives.

Demand for Australian Carbon Credit Units (ACCUs) will continue to be limited this year as buyers and emitters demonstrate “a reluctance to accumulate” in response to new compliance obligations under the Safeguard Mechanism, a leading local bank said Thursday.

A Singapore-headquartered biochar project developer has teamed up with an Indian renewable energy firm to generate high-quality carbon sequestration credits while also developing ethanol for aviation fuel, the companies announced Thursday.

Significant price consolidation of Australian Carbon Credit Units (ACCUs) sourced from different project types is unlikely to occur until the first compliance deadline to surrender credits under the Safeguard Mechanism in early 2025, a trader said Thursday.

Analysts have dropped their outlook for benchmark permit prices in the UK carbon market in 2024, citing oversupply, policy uncertainty, and expectations that a wide discount to EUAs will remain a characteristic of the British scheme.

The rise of multiple new carbon market exchanges in the Asia Pacific in recent years will help bring price transparency and encourage market development, but they could risk splintering liquidity, panellists told a conference Wednesday.

A blockchain-based metadata platform that seeks to foster transparent accounting in carbon markets is seeking data integration with more national registries this year, with multiple projects already in the pipeline.

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

A Rio de Janeiro-based developer has received R$186.7 million ($37.8 mln) in financing from Brazil's national development bank for forest restoration in the country's Amazon and Atlantic Forest biomes, it announced Wednesday.

Verra provided stakeholders with updated information and timelines on a number of methodological, operational, and other aspects of its reform push in a webinar Wednesday, as the registry continues to seek a 'new era' following sustained criticism and controversy in the voluntary carbon market (VCM).

Climate Action Reserve President Craig Ebert provides a response to the misguided focus on low-quality credits and the elusive supply chain mitigation.

California issued its first compliance-grade offsets of the year, with more than two-thirds of issued credits tagged with direct environmental benefits to the state (DEBs), while over 1.1 million credits saw their invalidation periods expire, according to data published by state regulator ARB on Wednesday.