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TOP STORY
BRIEFING: SBTi paves way for carbon removals under corporate net-zero standard in ‘cryptic’ update
The Science Based Targets initiative (SBTi) published an update Wednesday that experts saw as opening the door for corporates to use removals as part of carbon neutralisation claims under the organisation’s net-zero standard.
AMERICAS
BRIEFING: Brazilian voluntary carbon market will support, not drive, race to net zero
Brazil’s voluntary carbon market (VCM) will play a role in mitigation efforts if it is able to attract large-scale investment – but even then, it may not channel sufficient climate finance and reduce enough emissions to be an engine of net zero on either a global or national scale.
ACX, Brazilian stock exchange launch domestic carbon registry
A new registry launched Wednesday for Brazilian carbon projects, announcing its first transaction at the Brazil Climate Summit in New York.
Protectionist measures could impact global demand for US biofuels -panel
With the glut of renewable diesel (RD) supply in the US, producers are eyeing fresh opportunities for new demand abroad, with domestic production further incentivised by an upcoming production tax credit.
US ban on Chinese UCO would ‘disincentivise’ foreign LCFS programmes -panel
Biofuel producers warned Tuesday against a US ban on used cooking oil (UCO) imports from China, arguing that a ban would disincentivise foreign biofuel-producing nations from creating mandates to decrease emissions of transportation fuels through Low Carbon Fuel Standard (LCFS) regulations.
Alberta TIER emissions rise as usage of offsets, EPCs for compliance reaches all-time high in 2023
Higher emissions in 2023 under Alberta’s Technology Innovation and Emission Reduction (TIER) programme resulted in increased usage of offsets and emission performance credits (EPCs), according to a compliance report published Monday.
Decarbonisation funding from US private sector slows -Treasury official
Investment from the US private sector towards decarbonisation has slowed since 2022, a US treasury official said Wednesday, calling on firms to finance technologies to reduce emissions from the shipping and industrial sectors.
Gas companies partner with methane standards setter to trial first deal on certified LNG
A methane certification organisation has partnered with a US gas producer and an international energy company to pilot an industry-first transaction for certified liquefied natural gas (LNG), they announced on Wednesday.
US university expands legal resources to address rise in carbon offset lawsuits
As the voluntary carbon credit industry has grown, so has the number of related lawsuits, prompting one US university to expand its legal resources to address this trend.
VOLUNTARY
Tech firm buys 1.3 mln reforestation credits from Brazil, with option for another 2.6 mln
One of the giants of the tech world has agreed to buy 1.3 million reforestation credits in Brazil, with the option to acquire an extra 2.6 mln units.
Frontier strikes $4.5 mln in pre-purchase deals for carbon removals
The buyers club Frontier has facilitated its fourth round of carbon removal (CDR) pre-purchases, with $4.5 million spent on credits from nine project developers, including first-of-their-kind deals in India and Africa.
US tech giant inks another carbon removals deal
A US-based tech giant has inked another deal to purchase CO2 removal credits, this time from a California-headquartered carbon-negative power company.
Northern Lights CCS project creates deal for 330,000 CDR credits
Danish renewable energy company Orsted has secured a deal to sell 330,000 carbon dioxide removal (CDR) credits to Norwegian oil and gas major Equinor over a 10-year period for an undisclosed sum, boosting Norway’s Northern Lights carbon capture and storage project for the North Sea.
Banks to sell Puro carbon removals to clients
Two banks have announced they will sell carbon removals issued under the Puro standard to their clients in a bid to ramp up liquidity in the nascent market.
Voluntary carbon organisations launch coalition to target CEOs
A group of around 20 voluntary carbon organisations have launched a communications push to promote the use of credits towards corporate net zero goals, specifically targetting the CEOs of potential buyers.
Domestic carbon removal markets risk missing out on developing world’s potential -experts
The more government policies focus on developing their domestic carbon removals rather than a global market for credits, the less opportunity there will be to tap into the biggest potential in the world – often in developing countries that have less need to cut emissions, according to experts.
Airline passengers willing to pay extra 11% to offset flight emissions, survey finds
Airline passengers are increasingly willing to accept additional costs and time commitments to reduce the environmental impact of their flights, for example paying an extra 11% for offsets, according to a new survey.
EMEA
New UK FCA rules for oil, gas, and mining companies putting investors at risk, say experts
New UK Financial Conduct Authority (FCA) rules for oil, gas, and mining companies are inadequate on climate and are putting investors at risk, experts said during a webinar on Wednesday.
Over 650 UK farms have their soil carbon audited in ‘largest’ assessment yet
Over 650 UK farms have been assessed in the “largest and most thorough” baseline of environmental farm performance in the UK, in an effort to standardise a confusing landscape of processes for collecting the data, according to a report published on Wednesday.
Decarbonising the EU’s energy-intensives is still tough business, economists say
Energy intensive industries continue to face obstacles on their road to decarbonisation, according to economists from the European Central Bank (ECB), who raised concerns about the next phase of EU emissions trading.
London-based carbon accounting startup raises $7 mln
A carbon accounting startup with offices in London, Singapore, and Japan has raised $7 million in a seed funding round, according to an announcement on social media.
Euro Markets: EUAs extend losses as jump in speculative net shorts fails to trigger squeeze
EU carbon prices fell for the fourth time in the last five days as sellers continued to dominate, despite a second strong build in speculative short positions that had prompted some participants to predict a short squeeze, while energy markets continued to see-saw in response to conflicting pressures of bearish demand, healthy storage levels, and continuing concerns over longer-term supply.
ASIA PACIFIC
Xpansiv, S&P, CME Group collaborate on ACCU market products
A group of global trading houses will collaborate to offer new price assessments and products focussed on the growing Australian Carbon Credit Unit (ACCU) market, they announced Thursday.
Analysts say China climate policy is highly insufficient
China is not meeting its fair share contribution to climate change mitigation, even though record rates of renewable deployment are on the verge of meeting growing energy demand, according to analysis published this week.
Japanese companies introduce all-in-one service for J-Credit generation and purchase
A group of Japanese companies have teamed up to launch a joint business that can simplify the process of carbon credit generation under the domestic voluntary scheme and secure buyers in the early stages.
Ships receive backing from certifiers for CO2 transport
A Japanese company has received approval in principle (AiP) for two new designs of liquefied CO2 (LCO2) carriers, a type of vessel integral to the nation’s plans for wholesale export of its emissions to other jurisdictions for sequestration and permanent management.
VC firm wrangles angel investors for $2.1 mln in funding for Indonesian blue carbon player
An Indonesian nature-based carbon project developer has taken in $2.1 million in seed funding from angel investors after a successful round led by one of the nation’s only venture capital funds.
Rising underground coal mining will drive up India’s fugitive methane emissions, report says
India’s methane emissions from coal mining could double should it expand its domestic industry in order to reduce reliance on imports and feed its increasingly demanding power and steel sectors, a think tank has found.
Queensland coal miner granted state funding to cut emissions
A Queensland coal company covered by the Safeguard Mechanism has been granted funding from a state government initiative to cut carbon emissions from its operations.
INTERNATIONAL
Ocean carbon sink vital for both climate health and global wealth, new research finds
The ocean’s ability to absorb CO2 is not only vital for mitigating climate change, but also crucial for enhancing global wealth and reducing the cost of national climate policies, according to a new study.
Global solar installations smash expectations, rising almost a third year-on-year
Global solar installations exceeded most industry forecasts in 2024, with 593 GW expected to be added by the end of the year, according to analysis by a global energy think tank.
Progress in global climate governance threatened by major inequality among nations, new research warns
A new study has unveiled stark inequalities in global climate governance, highlighting that the most influential countries in climate negotiations bear far fewer consequences from climate-related disasters than those with less influence.
Forestry company launches platform to support forest restoration projects
A global forestry company has launched an open source platform aimed at enhancing the management of forest restoration projects.
BIODIVERSITY (FREE TO READ)
INTERVIEW: Biodiversity credit company seeks to challenge Romanian govt over EU payments
A company overseeing a biodiversity credit pilot in Romania is seeking to show the government how its use of EU environmental payments is incentivising the degradation of hay meadows, Carbon Pulse has learned.
Pylons and crickets: Expert reveals bioacoustics challenges
Bioacoustics, an emerging technology using sound recordings to monitor wildlife, can be useful to support human ecologists but should not be considered as a replacement for on-site observation, an industry insider said on Tuesday.
Increase in global biodiversity funding largely driven by loans, OECD finds
Biodiversity funding hit $25.8 billion globally in 2022, the highest level since 2015, although the increase was largely driven by loans provided by multilateral institutions rather than grants, according to the OECD.
Nature intelligence firm raises $1.2 mln to advance biodiversity risk reporting
A US-based nature intelligence company announced Tuesday it has secured $1.2 million in seed funding to expand its platform aimed at supporting companies in assessing biodiversity-related risks.
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EVENTS
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!
IETA’s North American Climate Summit – September 24-26, NYC: NACS 2024 is the premier gathering of carbon market practitioners, experts, and governments from across North America and beyond. Attending NACS 2024 presents a unique opportunity to learn from experts, enhance your carbon market expertise, and expand your network of leaders to collaboratively move the needle on delivering climate action and transition finance at scale. Gain insights on the evolving carbon pricing landscape, latest market trends, most relevant regulatory developments and “what to watch” through COP29 Baku and beyond. Organized by IETA, in collaboration with the International Carbon Action Partnership (ICAP), NACS 2024 is an in-person event with recorded plenary and breakout sessions. The program features high-level plenaries, inspirational keynotes, topic deep-dives, cross-cutting breakouts, interactive side events, exclusive roundtables and unmatched networking opportunities to foster meaningful connections. Secure your spot
Eurelectric’s Power Barometer 2024 – October 3, Brussels: Over the past five years, the power sector has faced unprecedented challenges among the COVID-19 pandemic, the energy crisis, and mounting competition from China and the US. With new policymakers taking office, political attention is now on energy independence, industrialisation, competitiveness, and the ongoing climate battle. Eurelectric Power Barometer 2024 data report will take stock of these developments with DG ENER Director General Ditte Juul Jorgensen, MEP Niels Fuglsang, and SSE Managing Director Sam Peacock. Make sure to join them at our free launch event! Register here
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
Gore blimey! – The US faces a “Manichaean choice” over climate action in the presidential election, according to former vice-president Al Gore, joining scientists and green business leaders in warning against a Donald Trump victory, the Financial Times reports. Climate change has not featured prominently in the contest between Kamala Harris and Trump, meriting one question in a recent debate. But Gore said that their respective policy positions were evident. Read Carbon Pulse’s recent analysis of what is at stake for carbon markets at the US elections.
Financial hit – The industries fuelling the climate crisis are draining public funds in the Global South, a new ActionAid report reveals. Climate-wrecking fossil fuel and industrial agriculture sectors are squeezing climate-hit countries for over $600 bln in public subsidies every year. In its report, ActionAid finds that across Global South countries, the fossil fuel sector has been receiving a shocking annual average of $438.6 bln a year in publicly financed subsidies, between 2016 and 2023. The industrial agriculture sector has benefited from publicly financed subsidies worth a staggering $238 bln a year on average, in the years between 2016 and 2021.
Making a breakthrough – Bill Gates-founded Breakthrough Energy has launched the fourth cohort of its energy fellows, with 25 new additions, it said Wednesday. These provide technical support, funding, and business resources to innovators working on technologies in industries that are hard to decarbonise. These include representatives from Europe-based HyperHeat – that works to help decarbonise industries like steel, cement, and chemicals via a novel, industrial heater using oxide ceramics – and Standard Potential Co., which will offer battery technology expertise. In addition to an open call for applications for Cohort 5 to be announced next year, the funding vehicle included a request for, and emphasis on innovative hydrogen solutions across the value chain.
Trading blows – Forest Trends has published a report exploring the potential conflicts between regulations like the EUDR and WTO obligations, assessing stakeholder concerns and determining whether these regulations align with international trade law. The study found that the EU deforestation law does meet WTO standards.
Power plant CCS partnership – Charlotte-based technology firm Honeywell and Seoul-headquartered global construction and engineering firm Samsung E&A announced Wednesday an agreement to collaborate to provide customers a carbon capture solution for power plants. Under the agreement, the two will jointly market Honeywell’s advanced solvent carbon capture technology.
EMEA
Anti zero-emission cars – Italian Prime Minister Giorgia Meloni has called the EU’s ban on the sale of new fossil fuel-power cars after 2035 a “self-destructive” policy, and promised to pressure Brussels to “correct these choices”, the Financial Times reported. In a speech to the Italian industrial trade group Confindustria, Meloni criticised the “forced conversion” to electric cars within a decade and said the green transition shouldn’t lead to thousands of job losses or the dismantling of industrial sectors that create wealth and work. She also criticised the European Green Deal and “ideological approach”. Italy, Germany, Czechia and other eastern European countries are calling for a review of the EU’s car emission rules adopted in 2023.
Slow progress – Mozambique’s Zambezia Integrated Landscape Management Program (ZILMP), which aims to reduce deforestation in nine districts over the period 2018–24 and generate $50 mln in carbon credit revenues, has seen limited progress due to slow release of funds and increasing deforestation, according to a new report from CIP. So far, only 25% of the ZILMP’s overall emissions reduction target and 14% of the overall revenue target have been achieved, with minimal benefits reaching local communities, the report argues. Benefits shared with communities, the private sector, district, and provincial authorities, and the Gile National Reserve represent only about 3% of the programme’s originally estimated benefits. Of the 10 districts with the highest tree cover loss in Zambezia from 2018 to 2023, six are part of the ZILMP, the study adds.
Falling gas – The Swiss Energy and Climate Report 2023, as part of the Exemplarite Energie et Climat initiative, has revealed that the greenhouse gas emissions (Scopes 1 and 2) of 18 public service providers fell by a total of 7% in the past year. In 2023, public interest service providers consumed around 7,160 GWh of final energy, of which 4,614 GWh (nearly 65%) came from renewable sources. Their greenhouse gas emissions from Scopes 1 and 2 were reduced by a total of 7% in 2023 compared to the previous year to 590,300 tCO2e. As well, three institutional investors – the SBB Pension Fund, Publica, and Suva – published their first emissions monitoring results as part of engagement with the initiative.
Attribution in the House – The European Parliament held a debate on the devastating floods in Central and Eastern Europe, the loss of lives, and the EU’s preparedness to act on extreme weather events and disasters exacerbated by climate change. The discussion was requested by the Greens, who presented an action plan too.
Just transition – As the new European Commission and Parliament begin their mandates, 42 civil society organisations from across Europe have issued a statement calling on EU leaders to ensure the continuation of the Just Transition Fund in the next EU budget. Read it here.
Investments – The EIB Board of Directors approved a total of €5.3 bln of new financing to bolster climate resilience of communities across Europe and back business investment that strengthens competitiveness, creates skilled jobs and unlocks innovation and growth. On the same day, the bank signed a €166 mln loan with independent power producer BNZ to support the deployment of 17 solar photovoltaic plants across Spain, Italy and Portugal.
Call for application – The EU Commission has opened a call for applications for energy infrastructure projects under the Trans-European Network for Energy (TEN-E) Regulation to obtain Project of Common Interest (PCI) or Project of Mutual Interest (PMI) status. The call for the electricity, hydrogen and electrolyser categories runs from 18 Sept. 18 to Nov. 18. The call for the smart electricity grids, smart gas grids, CO2 and the projects falling under the Article 24 derogation, stays open one more month.
AMERICAS
Power plant battle – Four regional grid operators led by Midcontinent Independent System Operator filed a brief Friday urging the US Court of Appeals for the District of Columbia Circuit to finalise the EPA rework provisions of its power plant standards released in April. The group – which also includes PJM Interconnection, Southwest Power Pool (SPP), and Electric Reliability Council of Texas (ERCOT) – argue that the final emissions reduction rules, which envision a prominent role for CCS, requires greater flexibility or it will trigger a series of premature retirements. Last month, the EPA defended the regulations from emergency appeal efforts from Republican-led states and industry groups.
State-level simulator – US think tank RMI held a webinar Wednesday to discuss updates to its state-level policy analysis tool Energy Policy Simulator (EPS), developed in partnership with Energy Innovations and supported by Bloomberg Philanthropies, a non-profit funded by media company Bloomberg. The EPS is an open-source model for estimating the environmental, economic, and human health impacts of hundreds of climate and energy policies in the 48 continental US states. Changes in the updated version of the EPS include incorporation of power plant retrofits to account for CCS tax credits from the IRA and overhaul of the electricity sector with updated data, a move to an hourly rather than annual demand model, and an ability to forecast load growth related to the clean energy transition. RMI also said scenarios saved in the previous version of the EPS will be transferred to the new version. Finally, webinar hosts also noted that the updated EPS can support state stakeholders in their design of Comprehensive Climate Action Plans (CCAPs) under the Climate Pollution Reduction Grants (CPRG) programme, which provides $5 bln in federal funding for curbing climate pollution, but for which applicants must submit CCAPs to the EPA by mid-2025 that identify and quantify proposed measures for pollution reduction. RMI said multiple plan CCAP plan elements required by the EPA are supported by the tool, namely: GHG inventory, GHG emissions projections, GHG reduction targets, quantified GHG reduction measures, and benefits analysis. Tutorial videos for how to use the EPS can be found here.
NFL first – United Airlines and the San Francisco 49ers claimed Wednesday that the NFL team has become the first in the league to purchase sustainable aviation fuel (SAF) – which it will use to cover its emissions for its game-related flying to Los Angeles on Sunday. The 49ers also said they would join United’s Eco-Skies Alliance, a programme launched in Apr. 2021 designed for participating companies to work together to share the costs associated with purchasing lower emission fuels like SAF. In August, a US federal court granted United’s motion to dismiss a class action lawsuit alleging the airline had misrepresented its green claims from the use of SAF.
ECY offsets – The Washington Department of Ecology (ECY) is developing a rule to amend its cap-and-invest programme’s offset protocols and will hold a public meeting on Oct. 21. The meeting will take place from 0900-1100 Pacific (1600-1800 GMT), with opportunity to provide input. ECY is conducting technical working groups focused on the state’s US Forestry Protocol, while its group on the Ozone Depleting Substance Protocol has completed.
CO2 transport help – The US Department of Energy (DOE) has issued a request for information regarding CO2 transport. The DOE’s Office of Fossil Energy and Carbon Management (FECM) will plan aconsortium coordinating research, development, and demonstration efforts, such as CO2 transport via pipeline, rail, truck, ship, and barge. FECM is looking input from relevant parties and who may be interested in becoming a consortium member. Responses are due Oct. 9 by 1700 Eastern (2300 GMT).
Canada CCS collaboration – Vancouver-based CDR firm CO2 Lock Corporation and Calgary-headquartered Ionada Carbon Solutions announced Wednesday an MoU to pursue a variety of commercial arrangements connected with CCS and the related sale of carbon credits into the commercial market. The pair said the agreement envisions integrating Ionada’s proprietary carbon capture technology with Lock’s permanent mineralisation storage solutions, creating end-to-end carbon capture storage systems that are cost-effective and scalable.
BC cleantech – The BC Centre for Innovation and Clean Energy invested a total of C$1.25 mln in three companies working on low-carbon hydrogen, carbon management, and low-carbon synthetic fuels. Unilia, which received $479,000, will produce a hydrogen fuel cell-powered heavy-duty truck; Expander Technologies, which received C$100,000, is producing net-zero renewable diesel and sustainable jet fuel; InnoCast Concrete, which received C$670,000, is developing low-carbon concrete.
ASIA PACIFIC
Peatland project – Japan’s Sumitomo Forestry is planning to work on a demonstration project for tropical peatland restoration and management in Central Kalimantan, Indonesia, through its wholly-owned subsidiary, the company said in a statement released this week. Under a memorandum of cooperation (MoC) signed between Japan and Indonesia’s environment ministries, the demonstration project for restoring degraded tropical peatland on around 10,000 hectares of lands will be carried out until August 2027. Sumitomo Forestry also said it will consider promoting similar projects in Brazil and Congo if the Indonesia project is deemed viable during the demonstration period.
See you there – Taiwan’s environment ministry plans to send personnel to the EU next year, in order to keep abreast of developments about the EU’s Carbon Border Adjustment Mechanism (CBAM) and help domestic industries better cope with international regulatory changes, it said in a statement on Wednesday. While Taiwan’s proposed carbon levy is considered effective and deductible, relevant EU regulations for the deduction will only be announced around mid-2025. The implementation of EU CBAM is expected to have an impact on Taiwan’s metal fastener, steel, and aluminium exports.
Go electric – The New South Wales state government has released its Consumer Energy Strategy, urging customers to switch from gas to electric appliances, but does not impose an outright ban on new connections, Renew Economy reports. The report shows a hypothetical family saving A$2,750 ($1,860) a year from switching from gas to electric power, more than double the A$1,370 saved through the installation of home solar and storage. There are currently 1.6 mln consumers in NSW connected to the gas network, which government said has continued to grow, with nearly 28,000 new connections added in 2022-23.
VOLUNTARY
Someone’s got a beef – A new consumer-protection lawsuit has been filed by the Environmental Working Group (EWG), a US advocacy group, accusing Tyson Foods of misleading consumers with false claims about its efforts to reduce GHG emissions. According to the New York Times, the suit challenges Tyson’s claims of working toward net zero emissions by 2050 and promoting “climate-smart” beef, arguing that industrial beef production cannot be climate-friendly due to the large volume of emissions produced. The lawsuit also contends that Tyson has not provided evidence to support its net zero claims and that achieving net zero through carbon offsets is unrealistic. It asks the Superior Court of the District of Columbia to prevent Tyson from making misleading marketing statements. Tyson, one of the world’s largest food producers, has faced accusations of “greenwashing”, as have other meat processing companies like JBS USA, which was also sued for deceptive climate claims. In addition to this lawsuit, Tyson has dealt with other challenges, including the suspension of a top executive, investigations into child labour at its plants, and federal inquiries regarding migrant workers cleaning slaughterhouses. Tyson declined to comment to the NYT on the lawsuit but maintains that it has a history of sustainable practices.
Stick a label on it – To help buyers, researchers, and other stakeholders identify projects and carbon credits based on their attributes and eligibilities for different markets, Gold Standard has introduced new ‘labels’ to its Impact Registry, it announced Wednesday. The new labels indicate credit and project compliance with the ICVCM’s CCPs and distinguish credits as either emission reductions or emission removals, among other attributes. Updates to CORSIA labels to distinguish between eligibility for the pilot phase and, subject to approval by ICAO, later phases have also been implemented. These new labels are an addition to existing labels related to Article 6 of the Paris Agreement and verified contributions to the Sustainable Development Goals, the standard added.
No more credits for you – Verra has permanently inactivated the use of UN CDM methodology ‘AM0065: Replacement of SF6 with alternate cover gas in the magnesium industry’ under its VCS standard. This came into effect on Tuesday. AM0065 applies to project activities that replace the use of cover gas sulfur hexafluoride (SF6) in full or in part by another cover gas. A cover gas is used to prevent rapid oxidation of a weld zone due to atmospheric oxygen. In its most recent methodology decisions, the Integrity Council for the Voluntary Carbon Market (ICVCM) announced that carbon credits generated by projects using AM0065 would not meet the requirements of the Core Carbon Principles (CCPs) assessment framework. Verra’s inactivation follows a routine review of the methodology, it said.
AND FINALLY…
A better read – A typical paperback book generates about 1 kg of CO2. Perhaps that does not sound like much, but in the US alone, where 767 million paperback books were sold in 2023, this is equivalent to the electricity use of more than 150,000 homes for a year, the BBC reports. The carbon footprint of books stems from forest loss, paper production, printing, and transportation. Reducing paper thickness and using compact typefaces are key ways to cut both costs and emissions. HarperCollins and design firm 2K/DENMARK are exploring innovations like thinner paper and sustainable typesetting. 2K/DENMARK’s “Sustainable Serif” can reduce page counts by up to 50%, potentially lowering emissions by 20%. This technique has been adopted by publishers like Island Press, which reported a 19% page reduction and 10% cost savings, marking a shift towards more eco-friendly publishing solutions.
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