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TOP STORY

BRIEFING: Canada set to increase federal carbon tax again, to the dismay of conservative leaders

A scheduled increase to Canada’s revenue-neutral ‘backstop’ carbon tax on fossil fuels will go ahead on Apr. 1, despite pleas to abort the rise from several conservative provincial premiers and other populist politicians.

EMEA

INTERVIEW: EU carbon prices haven’t seen bottom yet, veteran analyst warns

EU carbon prices have probably not seen their multi-year bottom yet and will likely head south again to re-test the key €50 level in the coming months, a veteran market analyst told Carbon Pulse.

Slump in ETS-covered gas generation drives UK emissions 5.4% lower in 2023

The UK’s greenhouse gas emissions fell by 5.4% in 2023, according to government data published Thursday, mainly driven lower by a reduction in gas use for power production covered by the country’s carbon market.

Early auctions for ETS2 would help hedging, price discovery -analyst

As companies prepare for the start of the ETS2 in 2027, there are currently no possibilities for them to hedge against rising CO2 prices on the EU’s newly-created carbon market for transport and heating fuels, writes a prominent carbon market analyst.

British and EU businesses call for ETS linkage in joint letter

A group of British and EU business and trade associations have called on the UK’s energy minister to initiate negotiations with Brussels to link the two compliance carbon markets as a matter of urgency.

Maersk still profiting from ETS surcharges, NGO says in response to company’s pushback

The NGO Transport & Environment is standing firm on claims that AP Moller-Maersk is charging customers more than the actual cost of complying with the EU ETS, after updating its analysis in response to pushback from the Danish major.

Euro Markets: EUAs ease back in thin range as market awaits verified emissions data

European carbon prices eased 1% moving in a thin range on Thursday, despite initial strength, as they tracked gas and coal markets lower over the session, while traders were said to be waiting for the publication of verified emissions data next week.

EU needs tech development as well as carbon central bank for removals, scientists say

The EU needs to develop technical capabilities and set up a proper regulatory structure in order to effectively remove large amounts of CO2 from the atmosphere, including creating a European carbon central bank, according to a study published on Thursday.

Climate change, carbon pricing “exacerbating regional disparities”, EU report warns

Southern and coastal EU regions suffer more harshly from climate-related disasters than others, while policies to address global warming like the EU ETS disproportionately impact poorer segments of society, according to data collected by the EU executive.

AMERICAS

Last coal plant in New England to close by 2028 amid pressure by green groups, regulators

The last coal-fired power plant in New England will close by 2028, its owner announced this week, handing environmental activists a victory.

US landfill emissions are 40% higher than what’s being reported to regulators, study finds

Methane emissions from US landfills are on average 40% higher than what has been reported to the EPA, according to a study released Thursday.

Washington to offer higher current year volume at Q2 auction in June

Washington state’s Department of Ecology (ECY) will offer a higher number of current year volumes at its quarterly carbon allowance auction in June, as well as a smaller amount of future vintage allowances, according to a notice published by the agency Friday.

Canada’s BC takes steps to ‘backstop’ provincial oil and gas emissions cap policy against federal inaction

British Columbia will introduce legislation to “backstop” current plans to impose an emissions cap on the province’s oil and gas sector in an effort to defend against the risk of weaker rules or complete inaction from Ottawa.

Chile approves first offsetting projects eligible for paying national carbon tax

Chile officially approved the first eight carbon projects eligible for payment of its $5/tonne national carbon tax Wednesday, operationalising a new offsetting mechanism announced last year.

Canadian carbon offset investor reports big net loss amid falling credit prices

A Canada-headquartered voluntary carbon offset originator on Thursday reported an annual net loss of $35.5 million (C$48.1 mln) in 2023 amid halved credit sale prices, despite ongoing restructuring efforts to reduce operating costs.

Canadian carbon removal company partners with US startup for DAC deployment

A Montreal-based carbon removal company announced Thursday a partnership with a Los Angeles-headquartered direct air capture (DAC) firm to further deploy the emerging technology in Canada.

ASIA PACIFIC

Safeguard facilities surrender 1.2 mln ACCUs in 2022-23, regulatory data shows

Safeguard Mechanism data published by Australia’s Clean Energy Regulator Thursday showed facilities covered by the scheme surrendered 1.218 million Australian Carbon Credit Units 2022-23.

CN Markets: Chinese CO2 allowance price reaches fresh landmark high amid growing optimism

Chinese carbon allowances hit another record high secondary market spot price on Thursday, as optimism remains over upcoming regulatory updates including sectoral expansion of the emissions trading scheme.

Partnership to launch broad range of carbon projects in Malaysia

A Southeast Asian carbon consultancy has teamed up with a Malaysian university to drive the creation of a wide range of nature- and technology-based offset projects, with resulting credits to be made available on the domestic carbon exchange.

Japan set to tighten data reporting requirements for domestic rice carbon projects

The committee steering Japan’s J-Credit programme is considering strengthening data reporting requirements for an increasingly popular rice-focused methodology to ensure credit quality.

VOLUNTARY

CORSIA-eligible voluntary carbon futures hit record high on thin volume

ICE’s Phase 1 CORSIA-eligible futures hit a record high this week, with the front-December trading as high as $20 on Thursday, in the wake of a UN decision not to approve carbon credits from any new voluntary standards.

FEATURE: First deliverables from voluntary carbon market standards’ collaboration coming in Q3, but bigger challenges lay ahead

The first deliverables from a collaboration between some of the world’s largest voluntary carbon market (VCM) standards are expected to arrive in Q3 this year, and “more complicated pieces” to come in 2025, but the alliance faces larger challenges – some existential – on the road ahead.

Tight cookstove emissions methodology wipes out cheap abatement under $10, finds report

Tightening the calculation of emissions from voluntary cookstove credits will almost wipe out abatement for under $10 per tonne, finds a report.

Demand ramping up in voluntary cookstove sector after pre-issuance credits snapped up, says financier

Nearly half of around 590,000 African voluntary credits from biomass improved projects were recently sold ahead of issuance, and above secondary market prices, a carbon financier told Carbon Pulse Thursday, after last week announcing a hefty investment into electric cookstoves.

German court bans airline from using REDD voluntary credits to offset emissions

A German court has ruled an airline should not have advertised flights as ‘carbon neutral’ because they were offset with voluntary credits from forestry conservation projects that could not ensure the promised compensation.

French biochar developer receives €18 mln to scale carbon removal

A French biochar solution provider has secured a new funding round of €18 million with a government-backed fund in the hope of scaling carbon removal in emerging countries.

Carbon insurer closes $10 mln investor raise

A US-based carbon credit insurance company has closed a $10 million investor raise, bringing several new firms on board and attracting the support of multiple angel investors.

Canadian project developer buys 25,000 tonnes of BECCS removals credits from UK energy firm

A UK energy firm announced Thursday that it has reached a five-year agreement for the sale of 25,000 tonnes of bioenergy with carbon capture and storage (BECCS) credits to a Calgary-headquartered project developer at $350/tonne, according to a Thursday press release.

Common forest carbon indices with remote sensing unreliable, new method performs better -study

Several commonly accepted vegetation indices used to estimate forest carbon baselines produce noisy data and risk over- or under-crediting, while multifaceted canopy height estimates are more consistent, according to research published this month.

INTERNATIONAL

Oil and gas producers aiming to quadruple new reserve developments by 2030 -report

Oil and gas producers worldwide aim to quadruple the amount of reserves sanctioned for development within the decade, research finds, in direct contrast to scientific warnings that new fossil fuel investments must end in order to limit warming to 1.5C.

US firm takes majority stake in Norwegian carbon capture business

A Texas-headquartered oil tech company will acquire majority ownership in a Norwegian carbon capture firm to accelerate industrial decarbonisation, it announced Wednesday.

BIODIVERSITY (FREE TO READ)

INTERVIEW: Australian group looks to develop regions-based nature repair model

An Australian environmental conservation organisation is seeking local government funding to establish environmental accounts that could inform biodiversity pilot projects, create jobs, and spur conservation efforts for the region.

IUCN proposes biodiversity article in global plastics treaty

The International Union for Conservation of Nature (IUCN) has proposed including a separate article on biodiversity in the UN global plastics treaty, ahead of the fourth round of negotiations to be held later this month.

Surging food waste puts biodiversity under increasing pressure, UNEP says

Households worldwide squandered over one billion meals a day in 2022, as challenges in reducing food waste threaten to hold back progress towards achieving global biodiversity targets, a UN Environment Programme (UNEP) report has said.

Biodiversity Pulse: Thursday March 28, 2024

A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).

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Or click here to see all job listings

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CONFERENCES

European Climate Summit – April 16-18, Florence: To kick off its annual regional climate summit series this year, IETA looks forward to welcoming delegates to its flagship ECS2024 event, taking place in Italy. ECS comes at a key inflection point for the region’s carbon market. How will the European carbon market evolve in its next phase, which starts in 2031? Around the world, carbon markets are emerging at the fastest ever pace, with new emissions trading systems being developed from Brazil to Vietnam. More markets may mean more opportunities for international cooperation and linking, and some of these could come to Europe. The health of the voluntary carbon market is also a hot topic this year, as the market works to overcome challenges. Environmental integrity and robust quality assurance are at the top of everyone’s mind, and IETA’s ECS2024 will address these issues as well. To register, simply click HERE to join as a delegate. In-person event.

Next steps for the UK Emissions Trading Scheme – April 22, Online: Hosted by Westminster Energy, Environment & Transport Forum, stakeholders and policymakers will explore priorities for implementation and maximising the carbon market’s contribution toward the UK’s net zero strategy. Discussion will consider policy priorities, challenges for industries, and plans to expand the scheme to include domestic shipping and energy from waste. Sessions will also explore the auction reserve price, the forthcoming CBAM, and strategies to enhance the UK ETS’s efficacy while mitigating negative impacts. Book your place

Carbon Forward Turkiye – May 9-10, Izmir: With the launch of the pilot ETS in Q4 and a burgeoning voluntary carbon market in the country, this event will give attendees an understanding of the significant impact these schemes, as well as the EU’s CBAM, will have on your business. Full conference agenda coming soon. Secure your spot

Argus Asia Carbon Conference – May 13-15, Kuala Lumpur: Join over 200 industry leaders and senior government officials at the Argus Asia Carbon Conference in Kuala Lumpur on 13-15 May 2024. Connect with key players and explore new opportunities in the region as we discuss innovations in carbon technology, advances in voluntary and compliance markets, the impact of CBAM, financing, nature-based project developments, and more. With ministerial addresses and keynote sessions from Petronas and SaraCarbon, this is your opportunity to gain valuable insights on pan-Asia’s evolving carbon markets. Register

Argus Europe Carbon Conference – May 21-23, Nice: Plan your carbon strategy through market-driven decarbonisation solutions at the at the Argus Europe Carbon Conference on 21-23 May in Nice, France, as we examine the EU ETS and other global compliance structures, voluntary carbon markets and their intersection with carbon abatement industries. This year’s agenda covers the integration of the maritime sector into the EU ETS, the impact of Europe’s exported carbon price through CBAM, developments in carbon removal technologies, voluntary certification methods, and developments around diverse, high-quality credits from Verra and many other leading standards. Register your place to explore new opportunities within Europe and globally.

Carbon Forward North America – June 11-12, Toronto: Join us in the Great White North to hear about the evolving carbon pricing and climate policy landscape in North America. Whether you are an emitter, investor, developer, or a new participant in any of the continent’s carbon markets – compliance or voluntary – Carbon Forward North America offers you the opportunity to gain knowledge on both present and future policy developments and market opportunities. Explore the chance to meet the right people or source the right solutions to help you enhance your business prospects or minimise your risk. Come meet the region’s world-leading carbon market experts, compliance players, government officials, investors, project developers, analysts, brokers, and other stakeholders. Agenda to be released soon. To express an interest in speaking or sponsoring, please email michelle@carbon-forward.com

Carbon Forward Expo – October 8-10, London and Online: Save the date! More info coming soon…

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BITE-SIZED UPDATES FROM AROUND THE WORLD

INTERNATIONAL

Total dismissal – A Paris judicial court on Thursday dismissed a TotalEnergies lawsuit against Greenpeace France over accusations that the oil giant under-reported its 2019 GHG emissions, a court document seen by Reuters showed. The ruling said that the environmental group’s accusations were too broad for them to be examined by the court. TotalEnergies said it was taking note of the court ruling and was considering its options. Greenpeace France described the ruling as a “snub” for TotalEnergies and “a victory for freedom of speech”. In Nov. 2022, Greenpeace France issued a report that accused the French energy major of emitting four times more climate-warming gases through its operations and products in 2019 than officially reported. TotalEnergies told investors it emitted 455 Mt of CO2e in 2019 and that the company was on track to reach net zero emissions by 2050. Greenpeace, citing calculations by climate consultancy Factor-X, countered that the official tally was closer to 1.64 bln tonnes and asked the French Financial Markets Authority (AMF) to issue sanctions against the company for the alleged reporting inaccuracy. In May 2023, TotalEnergies sued Greenpeace France and Factor-X, asking the Paris judicial court to rule that the publication contained “false and misleading information” and to order a withdrawal of the report under penalty of €2,000 euros in fines per day.

EMEA

European clean tech tracker – The Bruegel economic think-tank launched its online clean tech tracker on Thursday, aiming to close a “data gap” in the provision of up-to-date publicly available information on the technologies driving the green transition. The first version of the tracker shows the main manufacturing and deployment trends for solar energy, wind energy, batteries and electric vehicles, hydrogen and heat-pumps. With over 400 clean tech manufacturing plants, Europe is a hub for clean technologies, particularly Germany, which hosts the highest number of facilities overall. But other countries are leading in other areas, like the Netherlands for the adoption of solar panels. On heat pumps, while France, Italy and Germany lead in terms of absolute sales, Nordic countries have the highest adoption in relative terms. And when it comes to electric vehicles, the tracker shows a stark contrast: while Sweden electrified 12% of its car fleet, figures for Eastern Europe are “negligible” Bruegel says.

Big lump of cash – The European Commission has approved a €900 mln French scheme to support companies investing in the use of biomass and renewable hydrogen in energy and fuel production. The aid will take the form of direct grants, covering part of the eligible investment costs.

SBTi-approved shopping – The Science Based Targets initiative (SBTi) has validated the UK supermarket chain Co-op’s target to reach net zero emissions across its own operations by 2035 and entire value chain by 2040, in a first for a convenience retailer. Co-op has already made progress across its targets, including a 21% reduction in Scope 3 emissions and 59% in Scope 1 and 2 since 2016, the SBTi said. Co-op is also one of the first companies in the country to set science-based targets for its forest, land, and agriculture emissions, by 42.4% by 2030 compared to 2016. The validated targets include commitments to reduce the absolute Scope 1 and 2 emissions from its own operations by 66% and absolute Scope 3 emissions from energy and industrial sources by 58.8% by 2030, from 2016 levels. Co-op also aims to phase out deforestation from its primary deforestation-linked commodities by the end of 2025.

UK carbon storage guidance – The UK’s North Sea Transition Authority published two sets of guidance on Thursday to help the growing carbon storage industry prepare for first injection. The first guidance provides licensees with information on the regulator’s expectations for the measurement of CO2 injected in a storage site, and suggestions of how it can be achieved. The second provides clarity to help determine the extent of subsurface storage site and the area that licensees must manage to prevent and detect leakage. The UK government has pledged to invest £20 bln to develop the country’s carbon storage industry.

Romanian gas consumption, unhindered – Romania currently has no plans to reduce its gas consumption, reports Euractiv. EU countries decided to voluntarily reduce gas demand by 15% in 2022 in the wake of Russia’s military aggression in Ukraine. But Romania, alongside Bulgaria and Latvia decided not to implement the measures, citing the relatively low level of electricity consumption per capita compared to other European countries. Energia Inteligenta disputes this, saying “the low level of consumption is due to the energy poverty in Romania and inadequate environmental conditions affecting approximately 39% of the population”. Romania aims to maintain or even increase gas usage, counting on its domestic production sources to meet demand, particularly after the Neptun Deep gas field begins production in 2027, making the country the EU’s leading gas producer.

AMERICAS

Cow considerations – US Senator Michael Bennett (D) is leading a bipartisan group of lawmakers in introducing the Enteric Methane Innovation Tools for Lower Emissions and Sustainable Stock (EMIT LESS) Act, which would incentivise US farmers and ranchers to voluntarily reduce methane emissions from dairy and beef cattle. Specifically, the bill seeks to enable enteric methane research by creating enteric methane product and practice testing capacity through the US Department of Agriculture (USDA)’s Agricultural Research Service (ARS) and establishing and expanding training programs that familiarise farmers and ranchers with practices that reduce enteric methane emissions. Additionally, the bill seeks to reduce on-farm enteric methane emissions by: adding practices that reduce GHG emissions, including enteric methane, under USDA’s Conservation Innovation Grant’s On-Farm Conservation Innovation Trials; directing USDA to review conservation practice standards that can assist in reducing enteric methane, revise those as needed, and establish any appropriate new standards; and amending USDA’s Environmental Quality Incentives Program (EQIP) and Conservation Stewardship Program (CSP) to provide voluntary financial incentives. EMIT LESS has received support from the American Feed Industry Association, amongst a host of other agricultural, environmental, and other organisations, according to a release from Bennett.

Dismiss it – California is moving to seek dismissal of a lawsuit filed by the US Chamber of Commerce and other business groups aiming to overturn the state’s nation-leading climate disclosure laws enacted last year. California filed a motion asserting its authority to compel climate-related disclosures from large companies operating in the state through SB 253 and SB 261, arguing that the US Chamber, California Chamber of Commerce, American Farm Bureau Federation, and other groups involved in the federal lawsuit haven’t yet suffered and that the federal Clean Air Act doesn’t pre-emptively bar the state from implementing its laws. In a 34-page filing, the state responds to the business groups’ assertion that California is seeking to “regulate greenhouse-gas emissions outside of [California’s] own borders” — not from actual regulation of the emissions themselves, since the laws only require disclosure, but from “pressure.” “On Plaintiffs’ theory, any ‘pressure’ companies feel would come from third parties — investors, customers, and the like — not from the State itself,” California’s attorneys wrote. “And courts routinely distinguish between pressure created by state laws and actual regulation by the State, and recognize only the latter as an actionable injury.” (E&E News)

RFS refinery restrictions – US Senator Jon Tester (D-Montana) recently introduced the Supporting Energy in Rural America Act, which would define a “small refinery” under Renewable Fuel Standard (RFS) regulations as those with average daily output that does not exceed 200,000 barrels or that does not employ more than 1,500 employees. It would also clarify that the cap established by the definition to include the capacity of the entire company. The proposal has received backlash from the Renewable Fuels Association, representing ethanol producers, who argue that it would undermine RFS’s goal of promoting alternatives to petroleum, reported E&E News. The bill (S. 4070) has been referred to the Senate Environment and Public Works Committee.

Greenbacks for green banks – The US EPA is expected to announce soon which non-profit applicants it will task with turning $20 bln in federal grants into a lasting catalyst for green finance, E&E News Reports. The agency has stayed mum on when it will publicise the awards under the Greenhouse Gas Reduction Fund, its flagship programme under the Democrats’ 2022 climate spending law. It has said repeatedly that the awards would be made in March. EPA notified unsuccessful finalists three weeks ago, as it is required to do at least 15 days prior to announcement under its own policy for competitive grants. Applicants that didn’t hear from the agency now expect to receive awards under one of two non-profit grant competitions. The $14 bln National Clean Investment Fund (NCIF) competition — often shorthanded as the national “green bank” — is better known. Non-profit coalitions tapped to become intermediaries for that programme will help finance green energy and energy efficiency projects across the country — with at least 40 percent of the benefits flowing to disadvantaged communities.

How to EGU – The US Environmental Protection Agency (EPA) on Tuesday began accepting comments regarding its plan to regulate GHG emissions from fossil fuel electricity generating units (EGUs). Introduced last May, the proposed carbon pollution standard established limits and guidelines for CO2 emissions from fossil-fuel fired electricity generators under the Clean Air Act by utilising carbon capture and storage (CCS) technologies and emissions trading mechanisms. But the agency in February said it is delaying implementation for EGUs currently in operation, and it is now seeking feedback from shareholders to help inform its EPA’s approach and assist in the development of the rule. The EPA will accept input until May 28, 2024.

Run off the road – A federal judge in Texas has wiped out a Biden administration rule that required state and local transportation officials to set GHG emissions targets for federally funded highway and road projects. The Federal Highway Administration did not have congressional approval to issue its regulation, Judge James Wesley Hendrix of the US District Court for the Northern District of Texas ruled Wednesday night. The rule required state transportation departments and local metropolitan planning organisations to measure and report the amount of heat-trapping pollution created by highway and road projects that receive federal dollars. The agencies were also required to set goals for reducing emissions from those projects. The first reporting deadline for the program would have been Thursday. (E&E News)

Aid abated – The US Agency for International Development (USAID) might receive a revamp if former US President Donald Trump wins reelection in November, reported E&E News. Under the Project 2025 proposal from the conservative group the Heritage Foundation, USAID would rescind all climate policies from its aid programmes and eliminate any agency policy that restricts or inhibits fossil fuel usage. The agency released a climate strategy in 2022 aimed at cutting 6 Bt of greenhouse gas emissions by 2030 and aligning its development work with climate commitments in at least 80 countries, and making changes won’t necessarily be easy, as funding for USAID and its programmes requires approval by Congress.

New England forests – A report published Thursday by researchers from University of Vermont, Harvard Forest, Conservation Science Partners, University of Massachusetts, and Brandeis University called for a dramatic increase in the practice of sustainable forestry in New England. More specifically, the authors called for: permanent protection of 70% of New England’s landscape with at least 10% of the landscape in passively managed wild lands and 60% in actively managed forest; reduction in consumption of lumber and paper by 25% while meeting urgent housing needs and increasing recycling; and expansion of the practice of ecological forestry and shift in production to more durable wood products. According to the report, the region is losing 30,000 acres (some 12,150 hectares) of forest permanently each year.

Family in the south – The American Forest Foundation (AFF) and The Nature Conservancy (TNC) have expanded the Family Forest Carbon Program (FFCP) into Alabama, Kentucky, and Tennessee, aiming to enhance forest management across 10 mln acres of land. Family forest owners manage over 70% of woodlands in these states, highlighting the importance of providing them with the necessary tools for forest conservation. The FFCP offers financial and technical support to landowners, fostering forest resilience and economic benefits for rural communities. The programme encourages sustainable practices that not only improve forest health and carbon capture but also offer annual payments and professional guidance for managing the forests effectively. The expansion is aligned with broader conservation efforts, leveraging a novel forest carbon accounting methodology for better transparency and accuracy in measuring carbon benefits.

California charges – The California Public Utilities Commission (CPUC) proposed Wednesday a flat monthly fee for electric bills of $24.15 in an effort to make fees fairer and advance the state’s clean energy goals. CPUC said the proposal would cut the price of a unit of electricity for all customers by 5 to 7 cents per kilowatt-hour, and ultimately aims to make it easier to for consumers to transition to electric homes and cars. CPUC also said this proposal would bring California in line with state and national trends, and the new billing structure would go into effect in late 2025 or early 2026.

Inking linkage – Senate Bill 6058 (SB 6058), which amends Washington’s cap-and-trade scheme to facilitate linkage with the broader WCI market, was signed into law by Governor Jay Inslee (D) Thursday. Last week, California and Quebec also announced their interest in potentially operating a broader WCI market with Washington. Although the bill will take effect on June 6, regulators anticipate linkage between the jurisdictions to take at least a year to complete. Washington also faces a major hurdle during the process, as a voter initiative that seeks to repeal the state’s carbon market is set to appear on the ballot in November’s election.

Marine CDR bill – US Representative Buddy Carter (R-GA), who serves as vice chair of the Conservative Climate Caucus, has introduced the Ocean Restoration Research and Development Act (HR 7797) in the House of Representatives. The bill would direct the Secretary of Energy, in consultation with other federal agencies, to develop a demonstration programme to close knowledge gaps and help inform policymaking for marine CO2 removal (mCDR) strategies along with the potential co-benefits to fisheries and marine mammal conservation. In Oct. 2023, the Department of Energy announced $36 mln for the development of mCDR technologies, which followed the agency’s Sep. 2023 allocation of $24 mln mCDR research.

Iowa pipeline bill – The Iowa House of Representatives passed Thursday a bill that would allow landowners who are subject to eminent domain requests by CO2 pipeline companies to challenge the legitimacy of those requests in court earlier in the permit proceedings, reported the Nebraska Examiner. The bill would not, itself, limit eminent domain for the pipeline projects, but is instead meant to expedite a court decision about whether eminent domain is allowable — a decision that under current rules might come many months after state regulators issue a permit. The bill would allow court challenges before permits are issued, but has received backlash from biofuels companies and associations, according to the outlet.

Colorado calls – A Senate hearing at the Agriculture and Natural Resources Committee regarding Colorado’s Senate Bill 159 (SB 159), heard from over 200 witnesses who remained divided regarding the implications of its provisions. If passed, SB 159 would require the Energy and Carbon Management Commission (ECMC) to phase out new oil and gas permits beginning Jan. 1, 2028. Specifically, it proposes caps of 660 new permits in 2028, followed by 330 in 2029, and no new permits as of Jan. 1, 2030, with prioritised reductions in disproportionately impacted communities. Supporters of the bill highlighted the health impacts of living near oil sites, as well as the urgency to act on climate change by addressing issues within the oil and gas industry. Meanwhile, opponents pushed back citing the implications of SB 159, if enacted, on Colorado’s economy. Some argued cutting supply rather instead of reducing demand will hurt low- and moderate-income residents in Colorado without necessarily reducing emissions.

In memoriam – Joe Lieberman, a former US senator and vice presidential candidate who led efforts to pass major cap-and-trade legislation, died Wednesday. Lieberman represented Connecticut from 1989 to 2013 in the Senate, leaving the Democratic Party in 2006 to become an independent. He was also Al Gore’s running mate in his unsuccessful 2000 run for president, becoming the first Jewish American to be nominated on a major party ticket. Lieberman, 82, died in New York City from complications from a fall, his family said. Lieberman was among the first lawmakers to assert that the federal government needed to fight climate change, at a time when doubt about the threat was widespread. (E&E News)

ASIA PACIFIC

VOLUNTARY

Another lawsuit – dynaCERT Inc. has announced an indefinite suspension of a purchase order for its HydraGEN Technology Units intended for Guyana due to unresolved issues and emerging litigation. The company had previously delayed deliveries, awaiting necessary vehicle and equipment information from the Guyanese recipient for final assembly and shipping of the units. Additionally, two units delivered in 2023 are still pending clearance by Guyanese customs. Recent litigation related to the purchase order includes a demand for the return of a deposit made in May 2023 and a third-party claim for damages, now consolidated by the court. Despite the litigation, which dynaCERT deems meritless against them, the unresolved issues and legal challenges have led to the decision to indefinitely suspend the order. dynaCERT specialises in carbon emissions reduction technology and the HydraLytica Telematics system for monitoring fuel consumption and potential carbon credits.

AND FINALLY…

Egg-sploding prices – If your chocolate Easter egg costs more this year and in the future, it’s probably because climate change is causing a cocoa shortage, the BBC reports. A heatwave has blasted cocoa crops in West Africa, massively cutting yields, and experts say climate change is making this kind of extreme weather 10 times more likely. The cocoa shortage caused by the heatwave pushed prices up to around $10,000/tonne this month compared to around $2,500 late last year. The price of some popular eggs has already jumped by 50%, according to consumer group Which? And the trend is set to continue, as demand for cocoa is expected to grow by more than 4% a year this decade, meaning chocolate makers will have to scramble for scarce beans, according to The Conversation.

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