EU publishes long-awaited rules for permanently storing carbon in products to avoid ETS costs

Published 16:08 on June 21, 2024  /  Last updated at 17:31 on June 21, 2024   / Rebecca Gualandi /  EMEA, EU ETS

EU long-awaited rules are out on the criteria for what constitutes permanent carbon storage in products, providing clarity to firms as to how they can avoid purchasing allowances in the bloc's ETS. Read More

BRIEFING: Switzerland concerned about Chile's Article 6 regulation, project pending

Published 19:28 on June 21, 2024  /  Last updated at 19:28 on June 21, 2024   / Alejandra Padin-Dujon /  Americas, EMEA, International, Paris Article 6, South & Central, Switzerland

The Swiss entity managing Article 6 dealings with Chile has expressed concerns about the country’s draft authorisation procedures, confirming that a wind farm project remains under consideration, despite national media in the host country reporting a done deal. Read More

New insurance brings warranties from M&A into voluntary carbon market

Published 21:12 on June 21, 2024  /  Last updated at 21:12 on June 21, 2024   / Alejandra Padin-Dujon /  Africa, EMEA, Nature-based, Voluntary

The first warranty and indemnity (W&I) insurance policy in the voluntary carbon market (VCM) has been arranged, a broker announced Friday, lifting due diligence and risk transfer procedures from the world of mergers and acquisitions (M&A) in hopes of providing buyer-side assurances of supplier-side reliability. Read More

New study challenges effectiveness of tree-planting as climate change solution

Published 01:14 on June 22, 2024  /  Last updated at 01:19 on June 22, 2024   /  Americas, EMEA, International, Nature-based, US, Voluntary

A new study has cast doubts on the long-term effectiveness of large-scale tree-planting projects in sequestering CO2, with current climate models potentially overestimating the duration of retention while underestimating the impact of climate change on forests. Read More

DOE, EPA allocate $850 mln to reduce oil and gas methane emissions

Published 18:49 on June 21, 2024  /  Last updated at 18:49 on June 21, 2024   /  Americas, US

The US Department of Energy (DOE) and the US Environmental Protection Agency (EPA) announced Friday that $850 million in federal funding was being made available for projects to reduce methane emissions from the oil and gas industry. Read More

Article 6 cookstove carbon credit supply builds in Verra registry, but few retirements

Published 17:54 on June 21, 2024  /  Last updated at 17:54 on June 21, 2024   / Paddy Gourlay /  Africa, Americas, Asia Pacific, EMEA, International, Paris Article 6, Voluntary

More than 2.4 million cookstove carbon credits have been tagged with an Article 6 authorisation label in the Verra registry but only a tiny number have been retired, data shows Friday. Read More

International carbon credit developers to launch new lobby group in Brussels

Published 12:09 on June 21, 2024  /  Last updated at 12:09 on June 21, 2024   / Rebecca Gualandi /  EMEA, Voluntary

Multiple international carbon project developers are set to come together to launch a Brussels-based lobby group to protect and promote the use of voluntary credit use in climate mitigation, according to the EU’s transparency register. Read More

Air cargo firm launches carbon removal service blending DAC and SAF

Published 16:17 on June 21, 2024  /  Last updated at 16:17 on June 21, 2024   / Nick Ferris /  Aviation/CORSIA, EMEA, International, Voluntary

An international air cargo firm has launched a new carbon removal service, which blends direct air capture (DAC) with carbon emissions reductions achieved via sustainable aviation fuel (SAF). Read More

California water purifier plant with carbon removal to start up in 2026

Published 15:19 on June 21, 2024  /  Last updated at 15:19 on June 21, 2024   / Roy Manuell /  Americas, US, Voluntary

A California-based water purifier facility with direct air capture (DAC) carbon removal is poised to begin operations in 2026, the firm announced. Read More

Euro Markets: EUAs ease 0.2% on the week as carbon resumes tight correlation to TTF gas

Published 17:24 on June 21, 2024  /  Last updated at 19:20 on June 21, 2024   / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

After a steady opening on Friday, EU carbon prices drifted for much of the day before finding support to end the week little changed, while natural gas prices also followed a slow but steady downward path, reinforcing the view that carbon has resumed its previous close correlation to TTF prices. Read More

CN Markets: CEA price drops to three-month low amid lingering regulatory uncertainty

Published 11:59 on June 21, 2024  /  Last updated at 11:59 on June 21, 2024   / Chia-Erh Kuo /  Asia Pacific, China

China’s national emissions trading scheme (ETS) saw its spot price over the past week fall to a three-month low, as the lack of policy updates continues to weigh on market sentiment. Read More

NGOs call for cancelling 'disastrous' oil permit in Rep. of Congo's most biodiverse protected area

Published 11:28 on June 21, 2024  /  Last updated at 11:28 on June 21, 2024   / Giada Ferraglioni /  Africa, Biodiversity, EMEA

Human rights activists in the Republic of Congo (RoC) and other NGOs have called for the revocation of an oil exploration permit in Conkouati-Douli National Park, saying it will gravely threaten the most biodiverse protected area in the country. Read More

Uzbekistan becomes first country to receive World Bank payment for sale of policy-based carbon credits

Published 11:03 on June 21, 2024  /  Last updated at 11:03 on June 21, 2024   / Nikita Pandey /  Asia Pacific, International, Other APAC, Paris Article 6, Voluntary

Uzbekistan has become the first country to receive a payment of $7.5 million from the World Bank for the sale of carbon credits from policy reforms that have slashed its carbon emissions by half a million tonnes. Read More

South Korea to deepen Paris partnership with Vietnam

Published 10:37 on June 21, 2024  /  Last updated at 10:39 on June 21, 2024   / Chia-Erh Kuo /  Asia Pacific, International, Other APAC, Paris Article 6, South Korea

South Korea and Vietnam have decided to strengthen their cooperation on climate change, with the development of pilot Article 6 projects at the top of the agenda.  Read More

EU inaugurates green innovation hub in Seville

Published 10:34 on June 21, 2024  /  Last updated at 10:34 on June 21, 2024   / Frédéric Simon /  EMEA

The European Commission on Friday launched its brand new Innovation Centre for Industrial Transformation (INCITE) in Seville, aiming to accelerate the decarbonisation of energy-intensive industries to reach climate neutrality by mid-century. Read More