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UPDATE - South Pole ditches troubled Kariba REDD project amid media storm
South Pole has pulled out of the troubled Kariba REDD forest protection project in Zimbabwe with immediate effect, it said on Friday, following earlier news that certifier Verra was halting credit issuances and launching an investigation into the project amid allegations of trophy hunting and financial malpractice. Read MoreTop
EU takes stock of its climate progress since Paris Agreement with tepid optimism
Levels of optimism on whether the EU is on the right track eight years on from signing of the Paris Agreement diverged amongst key climate stakeholders at an event in Brussels on Friday, as the experts prepared for this year's UN negotiations where they deem it crucial to secure a global fossil fuel phaseout commitment. Read MoreTop
Chevron acquisition of US oil company won't affect $750 mln carbon credit deal -Guyana VP
The $750-million dollar deal between New York-headquartered Hess and the Guyanese government for the purchase of tens of millions of avoided deforestation carbon credits will not be affected by the former's acquisition at the hands of the global energy giant, Guyana's vice president said Thursday. Read MoreTop
EU leaders pressured to boost clean industrial value chain over the next five years
EU leaders tasked Brussels to accelerate work to safeguard the competitiveness of the bloc's clean technologies in the conclusions adopted on Friday following their European Council summit, responding to pressures from the industry for the upcoming legislature. Read MoreTop
Green Climate Fund approves 15 projects in latest funding round
The UN’s Green Climate Fund (GCF) approved $736.4 million of funding across 15 climate projects in developing countries this week, support that is expected to be boosted to $3.6 billion once co-financing is included. Read MoreTop
Euro Markets: EUAs post 2.5% weekly loss, hit 5-month low as market trades in narrowest range since April 2021
European carbon prices posted a weekly 2.5% loss and set a new 5-month low on Friday despite trading in their narrowest five-day range since April 2021, reflecting a lack of momentum or conviction in either direction as traders took to the sidelines ahead of the weekend, while energy markets were little changed as fundamentals remained broadly unchanged. Read MoreTop
CBAM seen as key driver in Asian carbon pricing developments as countries cooperate with EU
Carbon Border Adjustment Mechanisms, or CBAMs, are one of the key drivers of carbon pricing development across Asia as nations increasingly seek to cooperate with the EU on its policy slated to enter into force in 2026, a conference heard Wednesday. Read MoreTop
Carbon removal industry players eye oil industry scale by 2050
Standardisation and scale are the watchwords of the growing carbon removal industry, seen as key by its proponents in the path to net zero, but getting it into compliance markets will be essential, a conference heard this week. Read MoreTop
Government guidance seen needed to stimulate demand for carbon credits in Japan
More government guidance is needed to unleash demand for carbon credits from Japanese companies, despite Tokyo's recent efforts to support the development of the country's voluntary market, a conference heard Thursday. Read MoreTop
CN Markets: CEA trading stable, CCER liquidity improves following regulatory news
China's national carbon market saw prices remain stable over the past week with a relatively high trading volume, while voluntary trading volume ticked up as sentiment has been lifted by the multiple regulatory updates recently. Read MoreTop
AU Market: Spot market ACCU prices becoming less reflective of value as OTC deals dominate trading activity
Australian Carbon Credit Unit (ACCU) transactions have largely been bilateral over the counter (OTC) deals in recent months as the brokered secondary market has been trading sideways, according to analysis. Read MoreTop
WCI Markets: CCAs set new record high following workshop notice, WCAs climb on thin volume
California Carbon Allowance (CCA) values rocketed to a new all-time peak after the WCI jurisdictions said they will present modelling of how slashing their cap-and-trade budgets could impact permit prices, while Washington Carbon Allowance (WCA) prices jumped early in the week despite the market remaining relatively illiquid. Read MoreTop
Canada exempts heating oil from carbon levy, doubles rebate for rural residents
Canadian Prime Minister Justin Trudeau announced Thursday a temporary pause on carbon levies for home heating oil and a doubling of the revenue-neutral fee rebate for rural residents, in a move seen to bolster support for the federal Liberal government among residents of the Atlantic provinces. Read MoreTop
US govt announces $36 mln for development of marine CO2 removal methods
The US Department of Energy (DOE) announced Thursday the allocation of $36 million for 11 marine CO2 removal (mCDR) projects across the country, as the agency expands its support for advancement of the nascent technology. Read MoreTop
