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TOP STORY

European Commission taken to court over 2030 climate targets

Two non-profits are taking the European Commission to court, claiming the bloc’s target for emissions reductions this decade is too modest.

EMEA

Germany ups decarbonisation subsidies despite budget woes

All building owners in Germany will soon be able to apply for subsidies to decarbonise their heating system, the economy ministry announced on Tuesday, in a move that may help the country better prepare for the introduction of the EU-wide heating and transport Emission Trading System (ETS2).

World’s first green ammonia plant opens in Denmark

A first-of-its-kind green ammonia plant that will take advantage of power fluctuations from wind and solar power was opened on Tuesday by a trio of Danish clean tech companies, with a view to decarbonise shipping, fertilisers and heavy industry.

Egypt seen opting for voluntary carbon market rather than CO2 tax -media

Egypt officially launched its regulated voluntary carbon market (VCM) this month, weeks after reports that the cabinet was working on late-stage drafts of carbon tax regulations, and the VCM-based incentive system could ultimately supplant taxation, according to local media reports.

INTERVIEW: Steel sector eyes ‘breakthrough technologies’ to meet EU climate goals

The European steel industry has exhausted almost all options to reduce emissions thanks to efficiency gains and is now looking at “breakthrough technologies” – essentially electrification – to achieve climate neutrality, the sector’s lobby group told Carbon Pulse in an interview.

Euro Markets: EUAs make early gains, flatline in afternoon as gas stabilises

European carbon prices ended Tuesday moderately firmer as gains in the morning were followed by sideways trading throughout the afternoon, with EUAs benefitting from an early climb in natural gas after a number of interruptions to North Sea production were announced.

AMERICAS

New York state pension fund negotiates climate agreements, invests $2 bln in climate index fund

A New York state retirement fund announced Tuesday that it had reached climate-related agreements with several companies within its portfolio, while also boosting its investments in a climate index fund by another $2 billion.

New York Republicans propose postponing state emission reduction targets by a decade

The New York GOP unveiled a proposal Friday to delay emissions reduction targets under the state’s climate law, arguing more time is needed for clean energy projects to develop at affordable rates.

Colorado considers new methane reduction requirements

Colorado commenced a series of workshops on Tuesday to inform forthcoming rulemaking to reduce methane pollution from municipal solid waste landfills.

Consulting firm inks deal with DAC developer to inform project design

A global consulting firm has partnered with a direct air capture (DAC) project developer to help inform the design of large-scale CO2 removal plants, the companies announced Tuesday.

Canadian laboratory receives nearly C$5 mln to develop low-carbon fuels

A Canadian nuclear science and technology laboratory won federal funding to develop two low-carbon transportation fuel projects, the firm announced last week.

Brazil opens over $1 bln in funding for sustainable aviation, maritime fuel projects

Two public authorities in Brazil launched last week a R$6 billion ($1.1 bln) joint call providing R$6.6 billion ($1.1 bln) in funding for sustainable aviation fuel (SAF) and maritime biofuel projects.

Colombia to present resolution on ETS public consultation this week -media

The Colombian Ministry of Environment will present a resolution this week for a public consultation aimed at establishing its long-awaited emissions trading system (ETS), according to local media.

ASIA PACIFIC

BHP to avoid carbon credits to meet medium-term emissions targets

BHP, the world’s biggest miner, has said it will not use carbon credits to meet its 2030 Scope 1 emissions reduction target, planning instead to achieve it through structural abatement, though its plans may change.

Japanese shipping heavyweights to conduct liquefied CO2 study for CCS value chain

A group of Japanese shipping majors have teamed up to conduct a joint study for liquefied CO2 (LCO2) carriers, in preparation for large-scale international transport of LCO2 by 2028.

ACCU Scheme reforms well underway, but needed legislative changes still in the works, govt says

The Australian government has said its work to strengthen the integrity of the country’s carbon crediting scheme is well in hand in its response to both the 2023 and 2020 review of the market by the Climate Change Authority (CCA).

NZ govt-industry partnership tips NZ$4 mln into livestock methane emissions reduction tech

A New Zealand public-private partnership has invested NZ$4 million ($2.4 mln) in a company looking to ramp up commercialisation work of a methane-inhibiting vaccine specifically suited to the country’s pastoral farming system.

South Korea to provide preferential loans for low-carbon investments

South Korea is seeking to provide preferential loans to companies that make preemptive investments in projects with great emissions reduction potential.

INTERNATIONAL

INTERVIEW: Oman plans to launch Article 6 carbon framework at COP29

The Sultanate of Oman has drafted a regulatory framework for Article 6 carbon trading under the Paris Agreement, seen by Carbon Pulse, to be formally launched at the COP29 UN climate conference in Baku, Azerbaijan in November.

Sea level rise imperils global coastlines, mostly Pacific islands -UN report

An unprecedented increase in global sea levels poses a major threat to countries with large coastal populations and will significantly impact the livelihoods of those living in the Pacific islands, according to a UN technical brief released this week.

Large economies face significantly different challenges to decarbonising steel -report

China, India, and the US face vastly different challenges on the path to decarbonising the hard-to-abate steel sector, according to a new report.

Paris targets at risk as corporates pull the brake on investing in green technologies -report

Paris Agreement climate targets are at risk because companies are shying away from taking the plunge on green technology projects, creating a widening ‘reality gap’ between commitments on paper and what is needed on the ground, finds new research.

Global land analytics firm launches AI forest mapping technology

A property and land surveyor with global operations released a satellite and AI-driven tool to map landscapes for forest carbon projects.

VOLUNTARY

SBTi unveils framework for buildings sector to align with net zero

The Science Based Targets initiative (SBTi) on Wednesday launched sector-specific guidance for companies and financial institutions in the buildings value chain to set emissions reduction targets in line with a 1.5C future.

INTERVIEW: New carbon removals initiative aims to foster more transparency

An initiative focused on providing technical assistance and capacity building for carbon removal (CDR) firms is pushing to establish a more transparent, accountable, and effective ecosystem, its founder told Carbon Pulse.

Carbon data firm partners with environmental monitoring outfit to advance real-time emissions measurement

A voluntary carbon data firm has partnered with an environmental monitoring systems provider to develop a new digital monitoring, reporting, and verification (dMRV) for the emissions monitoring industry, they said in a press release.

AVIATION

Australia bets on SAF to decarbonise crucial aviation industry

Australia plans to decarbonise its aviation industry in coming years, both domestically and internationally, but government support will be needed to drive the uptake of sustainable aviation fuel (SAF), according to a government white paper released on Tuesday.

BIODIVERSITY (FREE TO READ)

Academics propose coordinating nature positive research for businesses

A framework for coordinating research on nature positive action by businesses with four core components, in line with international targets, has been proposed by a group of UK academics.

UK at risk of missing 30×30 target, study says

The UK might not achieve the 30×30 target of protecting 30% of land and sea by 2030 if urgent actions are not implemented by the government, a think tank has said.

INTERVIEW: Investors’ growing demand for Africa’s natural assets can plug gap in long-term conservation

Investors’ demand for natural assets in Africa is increasing, with the private sector set to play an important role in bridging the gap in long-term land conservation in the region, the CEO of a conservation investment group has told Carbon Pulse.

Alliance pushes for systemic marine change to overcome financing challenges

A marine alliance is pushing for system-wide change to financing marine protected areas (MPAs), as a site-by-site approach is not working, an executive has said.

Cercarbono approves first biodiversity credit methodology

Colombia-based environmental standard Cercarbono has approved a first methodology that project developers can use to generate voluntary biodiversity credits.

Biodiversity Pulse: Tuesday August 27, 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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CONFERENCES

Carbon Forward Expo – October 8-10, London and Online: Our flagship conference returns to the stunning De Vere Grand Connaught Rooms in Covent Garden. As the agenda comes together for our ninth annual event, we want to make sure you don’t miss out on our 10% discount offer, which is available throughout August. We’re also offering free passes for offset buyers. Get in touch to find out if you’re eligible and how to apply. Register now!

Chile Carbon Forum – October 8-10, Santiago: The forum will bring together experts, business leaders, and government officials to discuss challenges and opportunities within the carbon market. It will cover topics such as carbon taxes, offsetting mechanisms, climate finance, carbon market regulations, international cooperation, nature-based solutions, and innovative emission reduction strategies. The agenda includes panel discussions, workshops, and keynote speeches that emphasize the importance of these topics in promoting a low-carbon economy and combating climate change. This forum is crucial for understanding and advancing collaborative approaches to sustainability. For more information, visit Chile Carbon Forum.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

INTERNATIONAL

Sidelined – The government of Suriname recently offered up 1.5 million sovereign V21 carbon credits authorised for international trade under Article 6 of the Paris Agreement. However, according to the indigenous communities living in the forests, the government rushed the process and did not take them into account, Mongabay reported. According to the experts the news outlet spoke with, the caretaker communities of the forest have no idea about how the programme worked and what the benefits were. The communities were largely left out of the programme’s development and weren’t approached about it until weeks before the official announcement, resulting in a violation of their right to Free, Prior, and Informed Consent, the media outlet claimed. Further, as per the official documents, indigenous and tribal peoples would receive just 10% of carbon credit revenue from the programme, but the communities were not sure if that was a fair figure or how the amount will be distributed. About 40% of the revenue would go into the national budget and 20% would go into the country’s sovereign wealth fund. The rest would go into development and sector management. Suriname launched the programme with ITMO Ltd and BancTrust Investment Bank Limited.

EMEA

Salt cavern storage – German state-run utility Uniper is trialling the use of former salt mines in northern Germany for large-scale hydrogen storage, reported public broadcaster NDR. The company plans to test the 3,000 cubic metre cavern’s leak-tightness over the next two years, and the suitability of the space for integration into the country’s developing hydrogen grid. The cavern will be filled with green hydrogen at the end of September and based on the results of this initial trial run, Uniper will decide whether to expand the storage’s volume to allow for the storage of up to 250 GWh. Doing so would cost another €350-500 mln and would take up to five years. Uniper plans to build additional hydrogen storage with a combined capacity of up to 600 GWh by 2030 in several locations in Germany.

Battery concerns – German manufacturers are worried about the EU’s planned battery carbon footprint index, according to Die Welt. Plans by the EU to measure battery production’s carbon footprint based on the host country’s electricity mix are causing concerns among Germany’s automotive industry. They fear that the calculation method could disrupt the country’s plans to scale up national battery production capacities. By Feb. 2025, manufacturers will have to reveal the carbon footprint of battery production. These will be based on the national electricity mix rather than the actual power sources used at a given production location. A number of battery plants are located in areas that have a high wind power production, therefore their carbon footprint would not reflect their actual emissions. German industry associations have called on economy minister Robert Habeck to swiftly intervene and amend the index.

Funding efficiencies – £650,000 has been made available through Scottish government programme CivTech for proposals aimed at driving efficiencies in the administration, measurement, and prediction of the carbon impact of the Woodland Carbon Code and Peatland Code projects. It seeks to help tackle the rising administration, human resources, and skills burdens of operating these schemes, and aims to improve the prediction and monitoring of carbon sequestration and emissions reduction. Applications for the funding must be through Public Contracts Scotland and the closing date is Sep. 10, 2024.

Mining waste – A new legal analysis by T&E makes the case for a revision of the 2006 EU Extractive Waste Directive. As Europe plans to open new mines across the continent to try to meet the 10% mining benchmark under the Critical Raw Materials Act, rules appear outdated and, in some areas, below those of other countries such as Brazil and China. T&E found “a significant risk of fragmentation in the implementation of the directive” among member states. The environmental group suggests to turn the directive into a regulation based on modern guidelines, mandating companies to implement the safest tailings storage and monitoring techniques.

ASIA PACIFIC

Fair share – A coalition of NGOs have argued in a report published Tuesday that Australia and New Zealand’s climate finance contributions are falling woefully short. The report, estimates at least $1 trillion is needed to support low-income countries bear the brunt of the climate crises, and estimates extreme climate events have already cost the Pacific Islands between $2.7-7 bln between 2000-2022. Australia’s commitments to the Pacific so far provide A$3 bln between 2020-2025, while New Zealand has committed NZ$325 mln annually. The report calls on both countries to announce new post-2025 climate finance commitments that align with their fair share of the New Collective Quantified Goal, set to be agreed upon at COP29 in Baku, Azerbaijan. Funding should be matched with reducing emissions in line with keeping temperatures below 1.5C and a rapid phase out of fossil fuels.

Hydrogen hub – South Korea’s Samsung C&T has partnered with Australian hydrogen producer Lion Energy and DGA Energy Solutions to establish a hydrogen hub in Brisbane, according to a statement released this week by the Korean environment ministry. Once completed in 2026, the facility is expected to supply up to 300 tonnes of green hydrogen annually. The ministry said it has selected Australia as a partner country for green hydrogen cooperation, following Oman and Saudi Arabia, and is working to help Korean companies expand their green hydrogen business globally.

Forest offset platform – Japan’s Sumitomo Forestry and NTT Communications on Tuesday launched Morikachi, a platform for the creation of forest value, which they claimed to be the country’s first GIS-based platform to support developers, verifiers, and purchasers of forest-derived J-Credits. Morikachi, featuring a geographic information system linked with digitised paper documents, aims to streamline the credit issuance process and improve the reliability of such offsets. Under the J-Credit programme, the amount of forest credits at the moment is only about 10% of the reduction credits from renewable energy and energy saving projects.

Air pollution correlated to death – A study conducted by Indian researchers has found that air pollution in India poses significant threat to human health leading to a rise in mortality across all age groups, the Times of India reported. The study found substantial rise in mortality in districts with the critical pollutant PM2.5 levels exceeding the acceptable limit under the National Ambient Air Quality Standard (NAAQS). The air pollutant levels were found to cross acceptable limits in cities including New Delhi and Mumbai even during coronavirus. Meanwhile, the central government has invariably denied the findings of the study conducted by the International Institute for Population Sciences and says that there is no conclusive data available to establish a correlation of death exclusively with air pollution.

And the winners are – United Overseas Bank (UOB) Thailand is offering up to 2.7 mln Baht ($80,000) to selected 12 Thai companies for the UOB FinLab Greentech Accelerator Programme 2024, to pilot innovative, relevant, and deployable solutions to help corporates tackle sustainability challenges, Bangkok Post reported. The 12 Thai firms are among the final 33 companies selected for the programme from a competitive pool of 350 applicants across ASEAN. The selected companies will focus on areas such as energy efficiency, circular economy and waste management, carbon management and reporting, food and agriculture, and urban planning. The accelerator programme was initially launched in May 2022.

AMERICAS

eCharged up – The US Department of Transportation (DOT) announced $521 mln in grants on Tuesday to continue buildout of EV charging and alternative-fuelling infrastructure across 29 states, eight Tribes, and the District of Columbia, including the deployment of 9,200 EV charging ports. The grants will provide EV charging to light-, medium- and heavy-duty vehicles along designated highways, interstates, and major roadways, the press release said. Of the total funding, $321 mln will be allocated for 41 “community” projects that expand EV charging infrastructure, while $200 mln will go towards 10 “corridor” fast-charging projects that build out the national charging and alternative-fuelling network along designated Alternative Fuel Corridors. Funding was provided through the Bipartisan Infrastructure Law’s $2.5 bln Charging and Fueling Infrastructure (CFI) Discretionary Grant Program, and a 10% set-aside from the National Electric Vehicle Infrastructure (NEVI) Formula Program.

Rocking hot power – Technology conglomerate Meta Platforms has agreed to buy geothermal energy from supplier Sage Geosystems to power its US data centres, the company announced in a press release Monday. Sage will utilise its proprietary Geopressured Geothermal System (GGS) technology that was validated in the field in early 2022 to provide baseload power for Meta’s requirements. Hot dry rock is an abundant resource compared to traditional hydrothermal formations, making Sage’s GGS technology a highly scalable approach, the company said, which had potential for rapid expansion across the US and globally. The US Department of Energy (DOE) announced $31 mln earlier this week for six projects to advance geothermal energy across the country. Last week, Colorado adopted regulations to realise the state’s geothermal energy potential.

Licence to store – A federal appeals circuit court for the District of Columbia rejected claims that the Nuclear Regulatory Commission (NRC) improperly prevented opponents of a planned temporary nuclear waste storage site in southeastern New Mexico from intervening in its licensing proceedings, E&E reported Tuesday. The appeals courts denied the petitions finding NRC to have reasonably declined to admit petitioners’ factual contentions and complied with statutory and regulatory requirements when rejecting requests to intervene, possibly setting up for a Supreme Court battle, the outlet said. The industrial technology company Holtec International’s nuclear storage facility’s license application referenced accepting spent fuel from commercial nuclear reactors or Department of Energy-owned waste. The company submitted its application with the NRC for a 40-year licence for the initial phase of the project, for up to 500 canisters holding some 8,680 tonnes of used fuel, in 2017. Future amendments would see this ultimately increase to up to 10,000 storage canisters, World Nuclear News reported in July.

Credit audit – Guyana’s Vice-President, Bharrat Jagdeo, who is also General Secretary of the People’s Progressive Party (PPP) has assured the Guyanese that all funds generated from the sale of the country’s carbon credits will undergo a thorough audit. The audit will be conducted as part of the process to ensure that all funds are accounted for, he said during a press conference late last week. The South American country has earned $87.5 mln from its sale of carbon credits for this year, said Guyana President Irfaan Ali last week, adding that the government would increase the percentage paid out to Indigenous Peoples. (Guyana Chronicle)

VOLUNTARY

Assessing well leakage – Engineering consultancy SLB has launched a well integrity assessment methodology that helps carbon storage developers quantify the risks associated with wells at prospective storage sites with previous drilling activity. It’s designed to help customers understand the risks associated with each well, informing remediation strategies, and ultimately estimating the project’s long-term viability. The methodology uses advanced multi-physics 3D modeling to assess the volume and flow rates of brine and carbon leakage over time to better estimate risk. More info here.

Russia registry – Fresh amendments to Russia’s registry of carbon units occurred on Sat. Aug. 24, 2024, which established the right of a registry account owner to offset carbon units in order to reduce the carbon footprint of another person, including without the mandatory registration of such a person in the register. Details here.

Hotel honing – Hotel chain Marriott International says it has implemented AI to improve its Scope 3 data management. Previously, the company said it used Excel to apply emission factors to its spend data, but that the use of AI has increased efficiency and accuracy, resulting in a 5-10% reduction in Scope 3 emissions and a decrease in the number of labour hours involved. The first step in implementing the AI solution identified by Marriot was the  creation of an Inventory Management Plan, which was followed by integration of the AI process for mapping emissions factors. This second step required development of an internal Climate Action Program (CAP) database report spend at a hotel/business entity level with whatever detail was provided and then sent to the AI tool for fast processing. The integration process took about one year, and the chain met with internal stakeholders over several months to gain support. Marriott said it also expects a slightly accelerated timeline in Scope 3 decarbonisation by keeping emissions factors as up to date as possible and incorporating supplier-based emissions factors. The AI platform will also support Marriott’s Procurement Team in a supplier/vendor engagement campaign to source emissions factors directly from suppliers, the chain said.

AND FINALLY…

Crabby conditions – The abrupt collapse of Bering Sea snow crab stock can be explained by borealisation that is more than 98% likely to be induced by climate change, according to a study published last week in Nature Climate Change. Marine biologists from the US National Oceanic and Atmospheric Administration (NOAA) analysed temperature at the bottom of the sea, algae bloom levels under the sea ice, ice cover, and the makeup of Arctic snow crab communities from 1972 to 2022, determining in the process that the snow crab population had dramatically decreased as a result of “human caused climate change”. NOAA scientist Dr. Michael Litzow told Salon that negative impact on snow crab fisheries was short term for now, although that may not remain the case. Strongly boreal conditions are about 200 times more likely now (at 1.0–1.5C of warming) than in the pre-industrial climate, while strongly Arctic conditions are now expected in only 8% of years. Stakeholders should accelerate adaptation planning for the complete loss of Arctic characteristics in traditional fishing grounds, the authors said.

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