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TOP STORY
UK confirms £22 bln funding for CCS and hydrogen clusters, after years of waiting
The UK government has struck a commercial deal that will make up to £21.7 billion of funding available for carbon capture and hydrogen projects over 25 years, in what it sees as a turning point towards a new clean industrial era, it announced on Friday.
INTERNATIONAL
Global climate fund to invest up to $1 bln to decarbonise industry sectors in developing countries
One of the largest climate funds in the world announced on Thursday that it would invest up to $1 billion in technologies that reduce emissions from the industrial sector in developing countries.
ANALYSIS: Article 6 can supplement finance goals at COP29
Article 6 is meant to create a UN carbon crediting and trading system, but it can also support adaptation and the overarching New Collective Quantified Goal (NCQG) financing target at COP29, experts have told Carbon Pulse.
Rwanda, Sweden plan Article 6 cooperation
The Swedish Energy Agency (SEA) and the Rwandan Ministry of Environment signed an MoU on Thursday for a cooperative partnership under Article 6 of the Paris Agreement.
VOLUNTARY
ANALYSIS: Voluntary carbon market must stop ‘infighting’ and own the narrative to usher in new era
Changing the narrative, such as dropping ‘offsetting’ language, will be crucial to navigating a successful transition away from years of scandal for the voluntary carbon market, but this will be contingent on the sector coming together and controlling the narrative, experts told a conference this week.
INTERVIEW: African REDD project fights for survival after credit prices crashed
A huge REDD project in Kenya is fighting for survival after credit prices crashed in the wake of an investigation by the standard body Verra into allegations of sexual impropriety and improper employment practices.
BRIEFING: High integrity in nature-based credits still major challenge even with standards reform, say experts
Determining “high integrity” in nature-based credits remains a major challenge even with ongoing reforms to carbon standards, experts told an industry conference on Wednesday.
Colombia-based carbon standard applies to ICVCM for integrity label eligibility
An international carbon standard based in Colombia has applied to the Integrity Council for the Voluntary Carbon Market (ICVCM) for programme eligibility under its Core Carbon Principle (CCP) system.
Brazilian fertiliser, ERW producer renegotiates loans amid extreme weather crisis
A Brazilian fertiliser producer that utilises enhanced rock weathering (ERW) to sequester CO2 has renegotiated loans with its two largest creditors, according to a press release.
EMEA
‘We are in deep shit’: EU steelmakers turn to Brazil for green iron, hoping to safeguard European jobs
Importing Brazilian iron briquettes made with green hydrogen could reduce carbon emissions by 80% and help the EU’s industry meet its climate target for 2030 while avoiding a social bloodbath, according to the European steel industry association.
EU 2040 climate target hinge upon ability to overcome risks -report
The European Union has to overcome some economic, social and political risks if it is to reach its climate target for the next decade, researchers have said.
Analysts slash UKA price forecast after govt proposes delay to second phase
Analysts from a consultancy have slashed their forecast for UK Allowance prices in 2025 by 9% and their 2026 outlook by 13% after the British market regulator sought views on a plan to delay the start of the market’s second compliance phase by one year to align any changes in supply with the start of the country’s carbon border tariff.
EU ETS non-compliance rate dips following surrender deadline extension
The share of EU ETS-regulated installations and aircraft operators that are in non-compliance with the scheme has dropped below 3% for the first time in four years, after the annual permit surrender deadline was extended by five months.
Euro Markets: EUAs set new 6-month low but end day marginally higher as market seeks direction
European carbon prices extended their recent lows in choppy trading on Thursday but ended the day marginally firmer, shrugging off rising energy prices in the afternoon amid growing geopolitical tensions in the Middle East, while UKAs snapped an eight-day losing streak.
Europe to ramp up LNG imports next year if Russian gas transit stops, says IEA
Europe will likely need to import more liquefied natural gas next year, tightening global gas fundamentals, if Russian gas supplies through Ukraine are stopped entirely, the International Energy Agency (IEA) has warned.
Saving Europe’s industry requires greater electrification -report
Europe’s industry needs greater electrification to compete with the likes of China and the US, according to research published on Thursday.
Employers’ group urges EU to ‘reconsider’ phase out of free ETS allowances
BusinessEurope, an umbrella group representing national employer’s organisations, has called on policymakers to “reconsider” the planned phase out of free allowances under the EU’s Emissions Trading System (EU ETS), saying Europe should “be prepared” in case its new carbon border tariff scheme fails to deliver.
UK waste-to-energy operator rolls out carbon measurement technology
A UK waste-to-energy operator is set to launch a new carbon measurement technology across its operational facilities by the end of the year, it announced on Thursday.
AMERICAS
BRIEFING: Peru is open for carbon business, say officials
Peru supports voluntary carbon market (VCM) growth and will work with the private sector to boost domestic supply and demand, according to two newly-appointed officials heading up public agencies.
Washington outlines ODS protocol considerations for updates to cap-and-invest offsets rulemaking
Washington’s Department of Ecology (ECY) detailed preliminary proposals for revisions to its Ozone Depleting Substances (ODS) protocol under its cap-and-trade programme, incorporating changes to increase stringency based on the best available science.
Vermont details study of potential state cap-and-invest programme
Vermont officials held a public webinar Thursday detailing their legislatively-mandated study on the potential of a state cap-and-invest programme to drive greenhouse gas (GHG) emissions reductions.
US DOE awards more than $71 mln to 16 regional DAC hub projects
A national laboratory of the US Department of Energy (DOE) announced Wednesday that it has awarded over $71 million to 16 regional direct air capture (DAC) hub projects across the US.
US market infrastructure provider acquires LCFS, REC businesses
A US environmental commodities platform provider announced Thursday the acquisition of a revenue management company’s Low Carbon Fuel Standard (LCFS) and Renewable Energy Certificate (REC) services.
Canadian cement manufacturer targets emissions reductions with $38 mln low-carbon fuel investment
A major cement producer commissioned Thursday a $38 million low-carbon fuel facility at its Alberta cement plant, anticipated to replace up to 50% of the site’s gas usage and reduce 30,000 tonnes of CO2 annually.
Mexican nature-based projects not yet meeting demand for high-integrity credits, consultant says
The quality of carbon credits generated by forest carbon projects in Mexico are not meeting the market’s new demands for high quality offsets, a Mexican project consulting firm said Thursday.
WCI compliance instrument surplus exceeds 400 mln in Q3, while entities close accounts
The WCI compliance instrument surplus surpassed the 400 million mark in Q3 ahead of the November true-up deadline, although the number of account holders declined over the timeframe in light of general market participants’ exit.
WCI Markets: ARB rulemaking update expectations drive up CCAs amidst inexplicable WCA rally
Anticipation for the next stage in ETS rulemaking lifted California Carbon Allowance (CCA) prices in the secondary market over the last five sessions, while the $10 rally over the last two weeks in Washington Carbon Allowances (WCAs) continues to confound traders.
ASIA PACIFIC
Australian carbon, biodiversity offset developer raising capital for Queensland assets
An Australian investment manager is raising A$6.6 million ($4.5 mln) for a fund that purchases agricultural land for carbon and biodiversity offset projects.
Australia Market Roundup: Energy company dumps hydrogen project, Woodside registers another ACCU project
Australian energy gentailer Origin announced on Thursday it would shelve a hydrogen development project due to a lack of certainty, while Woodside Energy continues to register new carbon credit projects.
Laos prepares for access to international carbon market
Heavily forested Laos has issued a decree to “define principles” around cooperation in multilateral carbon market projects, a state-run newspaper said Thursday.
NZ officials call for better exotic forest regulations
New Zealand government officials have recommended exotic forestry be defined within the country’s National Environmental Standards for Commercial Forestry (NES-CF), in order to better regulate the sector that drives carbon credit supply in the country, according to a report published Thursday.
Japan-led AZEC could deepen fossil fuel reliance in the region, report says
Japan’s regional energy transition initiative featuring the promotion of nascent technologies could in turn deepen developing countries’ reliance on coal or liquefied natural gas (LNG), according to a report released Friday.
Japanese trading house launches digital system to scale forest carbon projects
A major trading house in Japan has launched a system that can standardise and digitalise the work needed for creating domestically issued carbon offsets from forestry projects.
BIODIVERSITY (FREE TO READ)
Nature is of major interest for sovereign investment, report finds
Nature is a significant topic for stakeholders in government-related investments, with its risks often overlooked by bond markets, consultants AXA Climate said in a report this week.
UK startup pioneers technology to advance plastic recycling
A UK-based startup has developed a method to break down waste plastics at the atomic level, which it said could support global efforts in advancing chemical recycling.
EU biodiversity negotiator shares concerns on nature credits in meeting ahead of COP16
Nature markets took centre stage on Tuesday at the European Parliament’s environment (ENVI) committee meeting, with an EU biodiversity negotiator sharing concerns raised by some MEPs about the role of biodiversity credits in plugging the nature finance gap.
AI model predicts marine biodiversity hotspots in Mozambique’s unmapped areas
Researchers have used artificial intelligence (AI) to identify previously unmapped high marine biodiversity areas off the coast of Mozambique, paving the way for expanding the national network of marine protected areas (MPAs) and key biodiversity areas (KBAs).
Indonesia’s decision to reopen sea sand export will lead to blue carbon crisis, destroy marine ecosystems -think tank
The Indonesian government’s decision to reopen sea sand export is likely to plunge the Southeast Asian nation into a blue carbon crisis, and harm its marine biodiversity, a report released this week has warned.
Biodiversity Pulse: Thursday October 3, 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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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!
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
LNG MMRV – The US Department of Energy announced Thursday that it has reached two key milestones in its development of a natural gas supply chain emissions MMRV framework. The project’s technical working group has developed a consensus-based design architecture to guide the current technical development of the various elements of a future MMRV system, and established multiple technical sub-groups that consist of international government technical experts to guide the development process. The group includes policy and technical experts from the governments of Argentina, Australia, Brazil, Canada, Colombia, Egypt, France, Germany, India, Italy, Japan, Malaysia, Mozambique, Nigeria, Norway, the Republic of Korea, the United Kingdom, the United Arab Emirates, and the United States, as well as the European Commission and the East Mediterranean Gas Forum.
Joint investment – Azerbaijan’s economy minister has called for establishing a joint sovereign investment fund with Saudi Arabia to support sectors such as petroleum and renewable energy, Saudi media reported this week. Minister Mikayil Jabbarov, whose country holds the COP29 presidency, was speaking with a delegation of Saudi businessesmen in Azerbaijan. The COP29 hosts’ climate action has been deemed ‘critically insufficient’ by analysts at watchdog Climate Action Tracker, largely due to a doubling down on fossil fuels. Azerbaijan’s latest Nationally Determined Contribution (NDC) UN climate targets are weaker than the last, abandoning a 2030 goal and seeing the country increase fossil fuel extraction by over 30% in the next decade.
EuroTrip – Asset managers Krane Funds Advisors, known for its carbon-tracking exchange-traded funds (ETFs), has launched the KraneShares Global Carbon Strategy ETC (Ticker: KRBN) on the Borsa Italiana and Deutsche Boerse Xetra exchanges, extending access to European investors. The ETC tracks the S&P Global Carbon Credit Index, which monitors the most traded carbon allowance futures under emissions trading systems, such as those in Europe and North America.
EMEA
Stump for Sizewell C – UK ministers have made contingency arrangements to fund the Sizewell C nuclear power project if a final agreement with potential private investors is delayed by up to two years, the Financial Times reported. A £5.5 bln subsidy scheme set up in August to support the nuclear reactor’s construction includes a back-up plan in which there is no agreement with private investors until mid-2026. The scheme’s budget is based on cost estimates to fund the project until the end of this year, and a contingency plan through June 2026, the Department of Energy Security and Net Zero said in a letter to campaigners in September. The government aims to have a final investment decision by the end of this year, following a delay caused by the July elections. However, industry and Whitehall officials say it is unlikely until next spring, the FT reported.
Blue hydrogen stoppage – Shell has put the Aukra blue hydrogen project in Norway on hold due to an apparent lack of demand for blue hydrogen to support an associated pipeline to Germany, S&P Global reports. The Aukra Hydrogen Hub, being developed with partners Aker Horizons and CapeOmega, was to have a capacity of 2.5 GW, producing 1,200 metric tonnes of hydrogen per day by 2030, avoiding 4 mln tonnes annually of CO2 emissions. Blue hydrogen is made from the steam methane reforming of natural gas, with the CO2 captured and subsequently stored. The oil major said it did not see “enough market pull” for blue hydrogen “to sustain financial support to the Gassco-led study” for a hydrogen pipeline from Norway to Germany, and that it had placed Aukra on hold for the same reasons.
Russia carbon offsets – RUSAL, one of the world’s leading aluminium producers, and the Roscongress Foundation announced on Wednesday a partnership to offset carbon emissions related to a BRICS meeting on climate change, held in Moscow on August 29-30. RUSAL’s forest climate project, which began in 2019, protects over 500,000 hectares of forest in Russia’s Krasnoyarsk Territory by preventing and extinguishing fires there. The project recently received more than 1.3 million carbon units, credited to RUSAL’s account, that were used to offset the carbon footprint of the “BRICS High-Level Dialogue on Climate Change” held in August. Units were verified by Ecopolis Certification and Service LLC and completed through the Thread of Nature platform. Russian Deputy Economic Development Minister Vladimir Ilyichev highlighted BRICS’ efforts toward low-carbon development and stressed the importance of creating market demand for carbon units.
Supporting Spanish SMEs – The Caja Rural de Asturias Foundation is creating a carbon credit fund to help small and medium-sized enterprises offset their carbon footprint (Cronica Asturias). The credits sourced must come from Asturian forests, such as Caja Rural’s own forest carbon project in Villares. The fund is part of a larger initiative to support companies across all sectors in Asturias to calculate their carbon footprint, register it with the regional government, and develop a plan to reduce greenhouse gas emissions. The registry currently lists 25 entities, though none have yet committed to achieve net zero emissions.
African exchange – The Johannesburg Stock Exchange (JSE) has expressed interest in partnering with the Nigerian Stock Exchange (NGX) Group to support carbon markets and data exchanges, Nigerian site The Whistler reported this week. JSE, NGX, and the Nigerian Securities and Exchange Commission also recently formed a strategic partnership to support market development and sustainability niitiatives.
ASIA PACIFIC
Overseas investments – Chinese firms’ overseas investments in clean energy technology projects have exceeded $100 bln since the start of 2023 as they aim to avoid tariffs in the US and elsewhere, according to Reuters, which cited a report from Australian research group Climate Energy Finance (CEF). China – the world’s biggest producer and exporter of products such as solar panels, lithium batteries, and electric vehicles – is leading the world by an “astonishing margin” with its investment and manufacturing capabilities, according to the report. BYD, China’s leading electric vehicle manufacturer, is now building a $1 bln plant in Turkey to avoid a proposed EU tariff of nearly 40%, while battery maker CATL is planning factories in Germany, Hungary and elsewhere.
Optimism – China could cut emissions by 30% in 2035 if the current rate of clean energy additions is maintained, according to a report released Thursday by the Centre for Research on Energy and Clean Air (CREA). An absolute emission reduction target set by Beijing would be critical to achieving this reduction, the report said. The slowdown in new coal power permits and the halting of new steel plant permits also indicate a potential turning point and opportunity for the world’s largest emitter to shift towards a greener economic model, according to CREA.
First meeting – Japan and Moldova have held their first joint committee meeting for the implementation of the bilateral Joint Crediting Mechanism (JCM), Japan’s environment ministry announced Thursday. Representatives from the two countries adopted rules and guidelines related to the JCM and exchanged information about Article 6 of the Paris Agreement, the ministry said.
Geothermal potential – Stockholm-based Baseload Capital has teamed up with state-run Taipower and Taiwan Cogeneration Corporation (TCC) to develop resources in the Tatun Mountain area – Taiwan’s largest geothermal resource, it said in a release this week. The companies will work on a series of initiatives, including the analysis of existing geological data, 3G exploration (geology, geochemistry, and geophysics), the establishment of conceptual models, the determination of drilling targets, and the execution of an exploration drilling programme.
Decarbonising operations – Indian government is planning the sale of carbon credits generated through the optimised logistics by the Food Corporation of India (FCI) in order to achieve carbon neutrality, an official said, according to the Economic Times. FCI’s digital transformation aims to streamline supply chain operations, reduce emissions, and cut costs, aligning with India’s 2030 emission reduction and Paris Agreement goals. As part of India’s foodgrain management system, government-owned FCI has large-scale logistics operations such as procurement, storage, and distribution of foodgrains which involve transportation at a huge scale, adding to the emissions.
Methane partnership – Malaysian state-run oil major Petronas has launched the ASEAN Energy Sector Methane Leadership Programme 2.0 (MLP 2.0) in collaboration with players from the Association of Southeast Asian Nations (ASEAN) energy sector, government agencies, and international organisations. MLP 2.0 builds on the inaugural Methane Leadership Programme (MLP) that ran from June 2023 to Oct. 2024, a press statement said. It is also the first collaboration between Petronas and Japan Organisation for Metals and Energy Security (JOGMEC) to establish the Southeast Asia Methane Emissions Technology Evaluation Centre (METEC), it added. The partnership will aim to strengthen emissions reduction targets and enhance coordination between businesses and governments, also supporting the Global Methane Pledge signed by over 150 countries, including Malaysia.
On the job training – Around 50 federal and provincial planning officials in Pakistan have received carbon market training by Supporting Preparedness for Article 6 Cooperation (SPAR6C) programme, in collaboration with the government ministries in an effort to support the country combat climate change and meet its international obligations, the Associated Press of Pakistan reported. The officials were trained on how to steer public investment towards low-emission activities and attract private funding for emission reduction projects. Pakistan has set itself a target of cutting emissions by 50% by 2030.
Future proofing – The Western Australian government has tapped Aurecon Australasia to consult on the proposed Clean Energy Training and Research Institute in the Pilbara region. The A$22 mln facility ($15 mln) will be a multi-user training hub and research centre that incorporates different training providers and research site locations across industry, tertiary, and vocational training centres, the government said in a statement. The institute will focus on research and development activities and training areas relating to clean energy industries, including production, transportation, storage, and export of renewable hydrogen and its carriers. The facility is funded under the Pilbara Hydrogen Hub, a A$140 mln project co-funded between the state and federal governments. The Pilbara region is home to some of Australia’s largest heavy industry sties, including the North West Shelf LNG export facility.
AMERICAS
US Steel awarded green certificate – US Steel claims that it is the “first steel company in the world” to qualify for the ResponsibleSteel certificate, which indicates that the steel meets high sustainability standards. The certificate is applied to US Steel’s products manufactured at its Big River facility in Osceola, Arkansas, which meets two requirements: that the steel’s input materials are responsibly sourced, and the manufacturing site meets certain decarbonisation thresholds. The company says that the certification demonstrates that it is more sustainable to obtain the input materials closer to the steel plant, when each has a known supply chain source.
EV prospects in the US – Almost 79 mln EVs will be on the road by 2035 in the US, a trade group for investor-owned utilities reported on Thursday, requiring more electricity and infrastructure to accommodate a more than sixteen-fold increase in the market. In 2023, the Edison Electric Institute (EEI) estimates that nearly 4.8 mln EVs had been sold in the country, but that adoption rate will accelerate drastically with federal policy such as the Infrastructure Investment and Jobs Act. EEI calls for coordinated collaboration between electric companies, policymakers, automakers, and charging service providers to bridge the fast-charging gap with proactive investment in the energy grid.
NY dough – New York Governor Kathy Hochul (D) announced Thursday that the state has awarded $24 mln spread across 26 clean energy projects. The projects were selected through the New York State Energy and Research Development Authority’s Innovation Program, which focuses on nurturing emerging technologies of the energy transition. The 26 projects that received awards this week include companies in long duration energy storage, clean hydrogen production and storage, grid modernisation, geothermal, and building electrification and efficiency.
LNG’s dirty secret – The GHG footprint of LNG is 33% worse than coal when shipping and processing emissions are taken into account, according to new analysis published on Thursday by Cornell University in the Energy Science and Engineering journal. The study’s author, Robert Howarth, adjusted the methane and CO2 emissions released during the extraction, processing, transportation, and storage of LNG to include emissions from the high-energy process to supercool the gas to a liquid and to transport it to market. The US is the world’s largest LNG exporter.
VOLUNTARY
Biochar bonanza – Pyrogen, a start-up biochar company, has secured a patent from the Kenya Industrial Property Institute (KIPI) for a new infused concrete mix. The company said its pilot plant will produce 250,000 square metres of biochar-infused concrete products annually, sequestering more than 3,000 tonnes of CO2 a year. Founded in 2022, the Kenyan-headquartered company will source the biomass and other raw materials for the concrete mix from local suppliers. “According to the recently released AFC State of Africa’s Infrastructure Report 2024, 70% of the infrastructure needed by 2040 across Africa is yet to be built,” said Dr. Michael Bruni, chief commercial officer of Pyrogen. “This presents a significant opportunity to integrate sustainable materials, such as biochar-infused concrete from the outset.” Biochar credits trade in a wide range from $70 to more than $150.
CO2 in your coffee? – European consultancies EcoAdvis and The 100% Together Coop have launched Coffee for Forests, a sustainability initiative that allows coffee drinkers to offset the carbon footprint of each cup. Contributions are verified through a blockchain-based system in line with guidelines from the VCMI, SBTi, and Task Force for the Voluntary Carbon Market, according to a social media post. Participants can pay a small fee to cover 200 grams of CO2 for black coffee and 400 grams for coffee with milk—converted into Spera Impact Tokens (SPIT), which are traceable via blockchain technology.
Carbon Done more – Voluntary carbon market project developer Carbon Done Right announced that it has completed all milestones required for the sixth disbursement of $250,000 from oil major BP towards their offtake agreement from a Sierra Leone reforestation project. As long as all buyer conditions are satisfied, the purchase agreement represents a significant revenue stream to the company, it added. The project continues its final validation progress under Verra’s VM0047 protocol. It has also undergone further site visits, independent review, and diligence, including by Sierra Leona government agencies and funding agencies, it said, as it continues to receive “very positive and constructive feedback”. In delayed annual financial statements released in July, the company said it will require additional fundraising to fulfil its streaming contracts. Earlier in August, Carbon Done Right – formerly known as Klimat X – also postponed its listing on the London AIM exchange, citing challenging market conditions.
Going geospatial – The EcoRegistry, the environmental assets registration platform, and OpenForests, the creators of map presentation software explorer.land, have announced a new partnership to boost transparency in carbon markets. The collaboration will integrate explorer.land’s geospatial platform with EcoRegistry’s registration system, creating interactive maps to help visualise nature-based projects. This feature will make it easier for project developers to communicate the full scope of their environmental and social impacts, the pair have claimed.
Advisors assemble – The 2024 application window for Verra’s Verified Carbon Standard (VCS) Program Advisory Group is open until Nov. 8. This advisory group supports the ongoing and future development of the VCS Program, which helps maintain the integrity of the voluntary carbon market. Verra seeks to recruit a diverse group of experts from various sectors, including academia, government, NGOs, and corporate leaders, to provide strategic advice. Advisory group members contribute by ensuring that the VCS Program incorporates the latest science and best practices, remains relevant to global climate goals, maximises sustainable development benefits, integrates with broader climate initiatives, and enhances carbon market integrity. The group also explores new approaches to carbon reduction, such as supply chain emission reductions, and improves the usability of project data.
Tool time – Verra has also launched a public consultation on a minor revision to the Clean Development Mechanism (CDM) TOOL07, which calculates the emission factor for electricity systems. The updated tool, to be published under Verra’s Verified Carbon Standard (VCS), aims to align with the Integrity Council for the Voluntary Carbon Market’s (ICVCM) Core Carbon Principles (CCPs). Key changes include removing the option to set a grid emission factor for the entire crediting period, adjusting the build margin emission factor to increase its weight, including registered GHG projects in the build margin calculation, and ensuring conservative emission factors. The revision will also harmonise with a new tool calculating emissions from electricity consumption. Feedback is open until November 5, 2024.
SCIENCE & TECH
Industry reset – The high cost of green hydrogen is taking its toll, with some of the biggest would-be developers of the fuels having cancelled projects, orders, and scaled back investment in recent months. Examples include Origin Energy, which on Thursday cancelled a project to produce the clean-burning fuel in an industrial area of eastern Australia, and Norway’s Nel (maker of machines that produce green hydrogen) that had an order cancelled for 1 GW of equipment from Mississippi-based Hy Stor Energy. The latter would have been enough to build by far the biggest such project in the US. However, such signs could be a sign that the industry is recalibrating and that people are instead focusing time, capital, and talent on things that will work rather than on things that won’t, said Michael Liebreich, CEO of Liebreich Associates and managing partner of EcoPragma Capital. (Bloomberg)
Electrolyser funding – The Net Zero Technology Centre’s (NZTC) 2024 Electrolyser funding competition has awarded £500,000 to accelerate electrolyser development in the UK, with three UK developers selected from the 36 applications received globally. Each of the three winners will receive a share of the prize money to support their technology’s development. The winners are: Clyde Hydrogen Systems, which offers ‘decoupled electrolysis technology’ that claims to provide flexibility and opportunities not possible with existing electrolysers. Aqsorption’s high pressure membrane-less electrolyser technology that claims to reduce reliance on rare earth minerals and to have reduced maintenance costs. And finally, Latent Drive’s SeaStack technology that is a direct seawater-to-hydrogen electrolyser, which could be well suited to placing next to offshore wind farms. The initiative aims to scale the Scottish electrolyser supply chain and establish an export market.
AND FINALLY…
Bike for beers – Uber is set to open what it claims will be London’s first carbon negative pub, where drinkers will be invited to generate electricity while “sipping beer in the saddle”, the Evening Standard reported. The 55k Tonnes pop-up pub will open for just two days next week, from Oct. 7-9, with a host of “power bikes” and other technologies aimed at creating more energy than the pub uses. The aim is to highlight how kinetic technology can be used to create renewable energy in everyday life, Uber said. The pub’s opening may be short, but it fits perfectly for people attending our Carbon Forward Expo conference in London from Oct. 8-10.
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