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WCI compliance instrument surplus exceeds 400 mln in Q3, while entities close accounts

Published 02:58 on October 4, 2024  /  Last updated at 02:58 on October 4, 2024   / /  Americas, Canada, US

The WCI compliance instrument surplus surpassed the 400 million mark in Q3 ahead of the November true-up deadline, although the number of account holders declined over the timeframe in light of general market participants' exit. Read More
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UK confirms £22 bln funding for CCS and hydrogen clusters, after years of waiting

Published 00:01 on October 4, 2024  /  Last updated at 00:01 on October 4, 2024   /  EMEA, UK ETS

The UK government has struck a commercial deal that will make up to £21.7 billion of funding available for carbon capture and hydrogen projects over 25 years, in what it sees as a turning point towards a new clean industrial era, it announced on Friday. Read More
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EU ETS non-compliance rate dips following surrender deadline extension

Published 22:05 on October 3, 2024  /  Last updated at 22:18 on October 3, 2024   / /  EMEA, EU ETS, Switzerland

The share of EU ETS-regulated installations and aircraft operators that are in non-compliance with the scheme has dropped below 3% for the first time in four years, after the annual permit surrender deadline was extended by five months. Read More
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ANALYSIS: Voluntary carbon market must stop 'infighting' and own the narrative to usher in new era

Published 20:30 on October 3, 2024  /  Last updated at 20:30 on October 3, 2024   / /  Americas, Asia Pacific, EMEA, International, Nature-based, Paris Article 6, Voluntary

Changing the narrative, such as dropping ‘offsetting’ language, will be crucial to navigating a successful transition away from years of scandal for the voluntary carbon market, but this will be contingent on the sector coming together and controlling the narrative, experts told a conference this week. Read More
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Global climate fund to invest up to $1 bln to decarbonise industry sectors in developing countries

Published 01:18 on October 4, 2024  /  Last updated at 01:18 on October 4, 2024   / /  Africa, Americas, Asia Pacific, Australia, EMEA

One of the largest climate funds in the world announced on Thursday that it would invest up to $1 billion in technologies that reduce emissions from the industrial sector in developing countries. Read More
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BRIEFING: Peru is open for carbon business, say officials

Published 19:50 on October 3, 2024  /  Last updated at 19:50 on October 3, 2024   / /  Americas, Nature-based, South & Central, Voluntary

Peru supports voluntary carbon market (VCM) growth and will work with the private sector to boost domestic supply and demand, according to two newly-appointed officials heading up public agencies. Read More
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Analysts slash UKA price forecast after govt proposes delay to second phase

Published 18:34 on October 3, 2024  /  Last updated at 18:34 on October 3, 2024   / /  EMEA, EU ETS, UK ETS

Analysts from a consultancy have slashed their forecast for UK Allowance prices in 2025 by 9% and their 2026 outlook by 13% after the British market regulator sought views on a plan to delay the start of the market's second compliance phase by one year to align any changes in supply with the start of the country's carbon border tariff. Read More
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Vermont details study of potential state cap-and-invest programme

Published 22:11 on October 3, 2024  /  Last updated at 22:11 on October 3, 2024   / /  Americas, US

Vermont officials held a public webinar Thursday detailing their legislatively-mandated study on the potential of a state cap-and-invest programme to drive greenhouse gas (GHG) emissions reductions. Read More
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Mexican nature-based projects not yet meeting demand for high-integrity credits, consultant says

Published 01:07 on October 4, 2024  /  Last updated at 01:07 on October 4, 2024   / /  Americas, Mexico, Nature-based, Voluntary

The quality of carbon credits generated by forest carbon projects in Mexico are not meeting the market’s new demands for high quality offsets, a Mexican project consulting firm said Thursday. Read More
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Colombia-based carbon standard applies to ICVCM for integrity label eligibility

Published 17:44 on October 3, 2024  /  Last updated at 17:44 on October 3, 2024   / /  Americas, Asia Pacific, EMEA, South & Central, Voluntary

An international carbon standard based in Colombia has applied to the Integrity Council for the Voluntary Carbon Market (ICVCM) for programme eligibility under its Core Carbon Principle (CCP) system. Read More
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BRIEFING: High integrity in nature-based credits still major challenge even with standards reform, say experts

Published 17:21 on October 3, 2024  /  Last updated at 17:21 on October 3, 2024   / /  Americas, EMEA, Nature-based, Voluntary

Determining “high integrity” in nature-based credits remains a major challenge even with ongoing reforms to carbon standards, experts told an industry conference on Wednesday. Read More
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US DOE awards more than $71 mln to 16 regional DAC hub projects

Published 21:48 on October 3, 2024  /  Last updated at 21:48 on October 3, 2024   / /  Americas, US, Voluntary

A national laboratory of the US Department of Energy (DOE) announced Wednesday that it has awarded over $71 million to 16 regional direct air capture (DAC) hub projects across the US. Read More
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Europe to ramp up LNG imports next year if Russian gas transit stops, says IEA

Published 17:08 on October 3, 2024  /  Last updated at 17:08 on October 3, 2024   / /  Americas, Asia Pacific, EMEA, International

Europe will likely need to import more liquefied natural gas next year, tightening global gas fundamentals, if Russian gas supplies through Ukraine are stopped entirely, the International Energy Agency (IEA) has warned. Read More
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US market infrastructure provider acquires LCFS, REC businesses

Published 15:44 on October 3, 2024  /  Last updated at 15:44 on October 3, 2024   / /  Americas, RINs & LCFS, US, Voluntary

A US environmental commodities platform provider announced Thursday the acquisition of a revenue management company’s Low Carbon Fuel Standard (LCFS) and Renewable Energy Certificate (REC) services. Read More
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'We are in deep shit': EU steelmakers turn to Brazil for green iron, hoping to safeguard European jobs

Published 15:26 on October 3, 2024  /  Last updated at 16:42 on October 3, 2024   / /  EMEA, EU ETS

Importing Brazilian iron briquettes made with green hydrogen could reduce carbon emissions by 80% and help the EU’s industry meet its climate target for 2030 while avoiding a social bloodbath, according to the European steel industry association. Read More