**CP Daily will not be published between Dec. 25 and Jan. 1. Carbon Pulse will file stories and send out CP Alerts on merit during that period. Regular coverage will resume Jan. 2.**
Presenting CP Daily, Carbon Pulse’s free newsletter. It’s a daily summary of our news plus bite-sized updates from around the world. Sign up here
Subscription offer – We’re offering new subscriber organisations 15 months of access to our news and intelligence for the price of 12. Purchase an Annual Subscription by Dec. 20, 2024, and get 3 extra months for free. Have we recently quoted you a price? Our 15-for-12 offer applies to that too, if you purchase your subscription by Dec. 20. Email sales@carbon-pulse.com to inquire.
TOP STORY
FEATURE: Cookstove carbon project developers optimistic about ICVCM, even if sector shunned for quality label
Clean cooking carbon project developers are generally optimistic about the Integrity Council for the Voluntary Carbon Market’s (ICVCM) assessment process, even if methodologies are rejected from the organisation’s quality stamp.
AVIATION/SHIPPING
Dozens of airlines scoop up CORSIA credits “in the low $20s” at special auction -sources
Dozens of airlines have purchased several hundred thousand CORSIA-eligible carbon credits in a special auction organised earlier this month by the Guyanese government, trading firm Mercuria, and exchange operator CBL Xpansiv, sources said.
Carbon credit financier looks to cash in by converting CORSIA-eligible inventory
A Toronto-based carbon credit financier has tentative plans to transition its carbon credit inventories to one of the voluntary carbon standard methodologies recently approved for Phase 1 of CORSIA (2024-26) by the UN aviation body ICAO, although it is still awaiting formal guidance from Verra.
ETS revenues can help to scale up clean shipping and aviation fuels -analysis
Using just some of the revenues from taxing pollution from airplanes and ships could be used to cover the higher cost of lower-carbon fuels, according to analysis published on Monday.
US maritime emissions roadmap plans for sustainable fuel buildout
The US proposed a Sustainable Maritime Fuel (SMF) Grand Challenge to stimulate a faster decarbonisation transition for the US maritime sector, according to an action plan published jointly by four federal agencies.
VOLUNTARY
Verra refutes experts’ critiques on its REDD+ method being granted CCP status
Carbon credit standards body Verra has hit back against criticism aimed at its REDD methodology being approved under the Core Carbon Principles (CCPs) framework, describing the scrutiny as “flawed and inaccurate”.
VCM Report: Retirement levels drop, market subdued amid ICVCM, CORSIA confusion
Retirement levels of voluntary carbon credits were relatively low last week to dash hopes of a year-end flurry, while drama around a recent REDD+ decision from the Integrity Council for the Voluntary Carbon Market (ICVCM) brought the Core Carbon Principles (CCPs) badge of quality into the spotlight.
Carbon removal registry sees 2024 retirements surpass 150k
A carbon removal registry has seen annual retirements breach 150,000 tonnes for the first time in a market still massively dominated by Europe and the US.
BRICS can link up carbon markets by harmonising standards and methodologies -Russian report
Harmonising the rules around growing carbon markets in the BRICS countries would support international trade within the bloc, reducing barriers to cross-border carbon trading and attracting more investors, according to a Russian report.
Repurposing offshore infrastructure to farm seaweed could yield massive emissions cuts -study
Repurposing offshore wind farms and decommissioned oil and gas platforms for seaweed farming could sequester millions of tonnes of CO2 per year, while using the vegetation to produce low-carbon alternatives for industries like food and materials could displace tens of millions more, according to a new study.
AMERICAS
Canadian finance, deputy PM resigns in sudden move before annual fiscal update
Chrystia Freeland, Canadian finance and deputy prime minister, resigned from her cabinet post on Monday just hours before tabling of the national fall fiscal update, citing differences with Prime Minister Justin Trudeau about the best path forward for the country as reasons for her departure.
US EPA makes case for proper venue in small refinery exemptions lawsuit
The US EPA this month requested the nation’s highest court to transfer a case on small refinery exemptions under the Renewable Fuel Standard (RFS) to the DC Circuit by vacating a ruling from another appeals court.
RGGI Market: RGAs “squeezed” higher above $23
RGGI Allowances (RGA) in the secondary market continued to rebound from a weak Q4 auction over the week, with traders deliberating reasons behind unexpected strength into year end.
ASIA PACIFIC
South Korea to spend $2 bln next year on climate tech
South Korea has allocated 2.7 trillion won ($1.9 billion) in the government budget for 2025 for developing technologies aimed at tackling climate change, including hydrogen as well as carbon capture, utilisation, and storage (CCUS).
Australian state offers A$3.2 mln cash for forest, soil carbon projects
The West Australian Labor government has awarded its third round of funding for carbon farming and land restoration, with A$3.2 million ($2.03 mln) cash going to eight projects that will invest in fauna conservation, soil carbon, and reforestation.
China thermal power production stable in November, renewables addition slows
China saw annual growth in thermal power production slightly outpace total power output in November, while renewable additions slowed from the same period last year, according to government data published Monday.
PNG governor proposes rainforest nation summit ahead of COP30
Rainforest nations should meet for a summit in Papua New Guinea ahead of next year’s COP30 in Brazil, set to be a crucial event for nature, according to a PNG governor.
Japanese insurer invests $25 mln in forest carbon fund
A major Japanese life insurer on Monday announced it will invest 3.8 billion yen ($25 million) into the Manulife Forest Carbon Fund (MFCF).
EMEA
Euro Markets: Expiring Dec-24 contract posts 21% drop in 2024, as trading completes shift to new benchmark
Dec-2024 European carbon futures ended its run as the benchmark EUA contract 21% down from its level at the start of the year, with a 1.7% daily decline as weakening natural gas prices continued to weigh on carbon, while the front-December UKA ended its run down by 27% from Dec. 31, 2023.
EU climate chief outlines four key aspects of upcoming Clean Industrial Deal
The EU’s Clean Industrial Deal initiative, due at the end of February, will seek to rebalance climate action and economic growth, with four key areas of action to accelerate decarbonisation, said EU climate commissioner Wopke Hoekstra last week.
EU legislation on CO2 transport not expected until H2 2025
Legislative proposals to govern the transport of CO2 in Europe are coming, but may only see the light of day after Poland wraps up its six-month EU presidency, the country’s state secretary for climate and environment told an event in Brussels last week.
European oil and gas producers call for a ‘CCS Bank’
The EU should introduce a carbon contracts for difference (CCfD) auctioning mechanism, fed by the EU ETS Innovation Fund, to incentivise CO2 capture and storage, a Brussels-based advocacy group for oil and gas producers said on Monday.
Non-profit calls on Europe’s biggest banks to adopt science-based net zero targets
A London-headquartered NGO has written to the CEOs of Europe’s 20 largest banks, including HSBC, Barclays, and BNP Paribas, urging them to set science-based targets for financing sectors vital to the net-zero transition, it announced Tuesday.
UK seeks views on changes to ETS free allocation rules ahead of CBAM, confirms current period extension
The UK ETS Authority on Monday opened new public consultations on proposed changes to its method of calculating adjustments to free allocations related to carbon leakage, as well as on future adjustments to free allocations to account for the introduction of the country’s carbon border adjustment mechanism (CBAM).
UK govt launches consultation on implementing CORSIA
The UK Department for Transport (DfT) has launched a consultation on Monday laying out proposals for how to implement the UN’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
Electromobility group urges EU to mandate corporate fleet electrification for transport decarbonisation
An alliance of automakers, fleet operators, and civil society groups has called on the European Commission to introduce binding electrification targets for corporate fleets, with the aim of accelerating the take up of electric vehicles and cutting transport sector emissions.
European cement giant partners with carbon capture startup, aiming to decarbonise portfolio
A large European building materials company has signed a cooperation agreement with a carbon capture startup, aiming to use the technology to help decarbonise its global portfolio of industrial plants.
UK university collaborates with recycling firm to generate soil carbon credits
A waste management company has teamed up with a UK university to measure and verify carbon capture in soil, targeting what it said could be a £200 million opportunity in the carbon credit market.
INTERNATIONAL
Zimbabwe awards Sri Lankan firm licence to build its national carbon registry
Zimbabwe has awarded a Sri Lankan firm the contract to develop its national carbon registry, as part of efforts to advance its climate policies and align with Article 6 of the Paris Agreement.
BIODIVERSITY (FREE TO READ)
All our nature and biodiversity articles remain free to read (no subscription required). However, we now require that all readers have a Carbon Pulse login to access this content in full. To get a login, sign up for a free trial of our news. If you’ve already had a trial, then you already have a login.
Australian state consults on draft biodiversity handbook for renewable energy project developers
The Victorian state government has published a draft guide for renewable energy project developers, proposing that each project must ensure there will be ‘no net loss’ to species of concern.
England proposes environmental overhaul to unblock development
The English government is consulting on plans to overhaul its environmental rules for the construction of buildings, aiming to shift away from a fragmented approach on topics such as nutrient mitigation towards a system centralised around a new fund.
Food giant pulls out of plastic offsetting project in Indonesia
A food and drink multinational has dropped a plastic offsetting project in Indonesia, withdrawing its accreditation request under Verra’s plastic programme.
—————————————————
EVENTS
Carbon Forward Middle East – Jan. 16-17, Abu Dhabi – Announcing Carbon Forward Middle East in Abu Dhabi, a great new event to explore carbon markets in the MENA region. We’ll be releasing more details about this conference soon. For now, put Jan. 16-17 in your calendar and email info@carbon-forward.com to express interest in attending, speaking, or sponsoring.
—————————————————
Job listings this week
- *Asia-Pacific Environmental Markets Correspondent, Carbon Pulse – Remote
- *Event Coordinator, Carbon Forward – Remote (UK)
- Carbon Commercial Specialist, LDC – Singapore
- Carbon Registry & Reporting Lead, Terradot – San Francisco/Sao Paulo
*Premium listings
See all listings or post a job
—————————————————
SUBSCRIPTION OFFER
We’re offering new subscriber organisations 15 months of access to our news and intelligence for the price of 12. Purchase an annual subscription by Dec. 20, 2024, and get 3 extra months for free. Have we recently quoted you a price? Our 15-for-12 offer applies to that too, if you purchase your subscription by Dec. 20. Email sales@carbon-pulse.com to inquire.
—————————————————
BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
EMEA
Tough call – Germany is heading for early elections after Chancellor Olaf Scholz lost a vote of confidence on Monday, the FT reports, ending his fractious coalition government at a time of strain for the Eurozone’s largest economy. Scholz’s defeat by 207 to 394 votes paves the way for the dissolution of parliament ahead of the early elections pencilled in for Feb. 23, 2025. In pre-election polling, the chancellor and his centre-left Social Democrats are behind both the opposition CDU and the far-right Alternative for Germany (AfD). This had been expected, and the results of next year’s poll could spell trouble for German climate plans.
Lower prices, more grids, and more interconnections – The EU’s energy ministers during Monday’s energy council in Brussels all agreed that lowering electricity prices is essential in the next legislative cycle, but differed on how to do it. Italy’s energy minister said we need a “realistic and technologically neutral approach”, though did not provide details as to what that approach entails. Sweden’s energy minister Ebba Busch said the bloc should not put all its eggs in the basket of intermittent renewables, as nuclear can provide reliable, baseload power. Denmark, Ireland, Belgium, Germany all agreed on the need to boost renewables, reduce permitting times, increase interconnectivity — all essential elements to improve the EU’s competitiveness as well. The new European Commissioner for energy and housing Dan Jorgensen said electricity and gas prices should be decoupled for the retail market, but that the wholesale market should remain intact because it is working well as it is.
Coal exit in doubt – Germany Economy Minister Robert Habeck has cast doubts on the country’s plans for an early phase-out of coal-fired power generation, Bloomberg reported. He stressed that “energy security always has absolute priority” when asked about whether the 2030 target – eight years earlier than the original schedule – was in question. Habeck’s ministry last week dropped a plan for new gas-fired power plants – key to replacing coal power – as the measure couldn’t be voted on after the country’s three-party coalition collapsed last month. These gas plants would be hydrogen-ready and provide backup to renewables. However, Habeck stressed that coal could only be removed if there is sufficient back-up capacity. The ministry on Friday said the government is still working towards a coal exit in 2030, but highlighted that flexible new capacities are fundamental.
Another delay – Poland’s deputy climate minister, Krzysztof Bolesta, has urged the EU to consider delaying the implementation of its new carbon market for transport and heating fuels (EU ETS2), set to begin in 2027 or 2028. According to Bloomberg, Bolesta argues the postponement would give households more time to invest in clean energy alternatives and alleviate the financial strain caused by rising energy costs. The ETS2 is a key part of the EU’s strategy to achieve climate neutrality by mid-century and includes an €87 bln fund to protect vulnerable households from 2026 to 2032. However, concerns about affordability and economic challenges are increasing opposition to the plan. Other countries, including Czechia and Slovakia, have also called for reconsideration of the timeline. Any changes to the ETS2 would require approval from the European Commission, support from a qualified majority of EU member states, and endorsement by the European Parliament. Poland’s position comes as it prepares to assume the rotating EU presidency in January, potentially influencing future debates on the bloc’s climate policies. The country has outlined key priorities, including accelerating the energy transition, addressing high energy prices, and boosting economic competitiveness. Bolesta’s comments also come a week after he urged Brussels to also re-evaluate the Carbon Border Adjustment Mechanism (CBAM) to better support exporters and simplify its implementation.
Sub-sea links – The UK and Norway are set to announce plans to partner on transporting CO2 beneath the sea, according to a UK government statement released Monday. The broad agreement to be signed in 2025 “will support our aim to secure home-grown energy,” and will include “enhanced cooperation across a range of sectors”, the document said. The two nations are seeking to bolster their energy and defense ties following the energy crisis precipitated by Russia’s invasion of Ukraine. UK Prime Minister Keir Starmer is visiting Norway on Monday and is set to visit the Northern Lights carbon capture project, alongside Norwegian Premier Jonas Gahr Store.
Stick to it – The potential retreat from zero-emission vehicles (ZEV) targets in the UK would put thousands of jobs and billions of pounds of investment in the country at risk, according to industry bodies ChargeUK, BEAMA, REA, and UKSIF. In a release Monday, the bodies urged the government to confirm its commitment to EV sales targets to protect investment in EV charging infrastructure, and reassure consumers that ZEVs will come to dominate in the next decade. The government has been facing demands to water down the commitment for vehicle manufacturers to sell a minimum of 22% ZEVs in 2024, rising to 80% in 2030, and 100% in 2035. However, relaxing the targets would undermine investor confidence, delay road transport decarbonisation, stifle deployment of key charging infrastructure, and derail the EV transition, the bodies wrote. Adding that EV sales are crucial to the UK meeting its legally binding net zero target and a retraction of the targets would also contradict the government’s goal to secure economic growth. Overall, car makers are on target to meet their targets set out in the ZEV mandate thanks to the trading mechanisms allowed for by government and rising consumer demand, the statement said.
CCS compensation – The UK government has agreed to compensate developers of an £8 bln gas-fired power station and carbon capture project if much of the scheme is blocked in court by environmental campaigner Andrew Boswell. The guarantee has been granted to the power station in Teesside being developed by BP and Equinor, known as Net Zero Teesside Power. The compensation could reach £6 bln if planning permission gets revoked as late as 2027, according to modelling. The gas-fired power station will be operating by 2028 with the capacity to supply more than 1 mln homes, with about 2 mln tonnes of CO2 per year captured and stored, according to the developers. Last week, ministers announced they had signed contracts with the projects, allowing them to reach financial close, but details of the full extent of the support were not disclosed. (FT)
Pollution patrol – Investigators from the National Police of Ukraine have uncovered a systematic bribery scheme involving a Kyiv City State Administration (KCSA) official and accomplices from private enterprises. The scheme targeted the issuance of free permits for emissions of pollutants into the atmosphere, where artificial obstacles were created to prevent businesses from obtaining permits without payment. Prepared documents were deliberately returned for revision under false pretences, while intermediaries controlled by the official offered “assistance” for fees of up to 20,000 hryvnias ($480), depending on the number of pollution sources. The group coordinated their illegal activities using messaging applications, pseudonyms, and other concealment methods, with bribes transferred to controlled bank cards, withdrawn in cash, and distributed among participants. At least five companies were identified as victims of this scheme. The investigations resulted in indictments being sent to court for three individuals, including a KCSA official and two accomplices. The accused face charges under the Criminal Code of Ukraine that carry a penalty of up to 10 years’ imprisonment, disqualification from holding positions, and property confiscation. Pre-trial investigations into related aspects of the scheme are ongoing.
RusHydro update – RusHydro PJSC has announced an update pertaining to a project on the Russian registry of carbon units. The company has voluntarily published the documentation of its climate project “Reduction of Specific Greenhouse Gas Emissions at Vladivostokskaya CHPP-2 through Modernisation with Replacement of Coal-fired Boiler Units No. 12-14 by Gas-fired Units” in Russian and English, it stated. The document takes into account the requirements of the legislation on legally protected secrecy.
ASIA PACIFIC
Extending loans – Singaporean bank UOB has offered 6.5 billion Thai Baht ($190 million) to the energy conglomerate Bangchak Corporation in Thailand to build the country’s first sustainable aviation fuel (SAF) plant. UOB Thailand has extended loans under its Transition Finance Framework. The project is designed to produce SAF from used cooking oil and the facility is structured to provide carbon credit rebates to support Bangchak’s own decarbonisation goal, the press statement said. The SAF output will be offloaded to Bangchak as the primary trading or marketing entity and supplied to customers such as fuel suppliers, airlines, and oil traders. Recently, Bangchak also signed an offtake agreement with Shell International Eastern Trading Company in Singapore.
And now we train – Indian developer EKI Energy has enrolled into the Partnership for Carbon Accounting Financials (PCAF) accreditation programme, it announced Monday. Through the PCAF accreditation, EKI will empower financial institutions to adopt the PCAF Standard, enabling them to measure and report GHG emissions associated with their loans and investments and integrate science-based targets into their operations. The programme involves rigorous training and equips organisations with the knowledge and expertise required to support financial institutions in adopting the Global GHG Accounting and Reporting Standard for the Financial Industry.
SAF progress – State-owned oil refiner CPC Corp has become the first oil company in Taiwan to receive certifications from ISCC CORSIA and ISCC EU for its sustainable aviation fuel (SAF) products, it announced Monday. The refiner has said it aims to begin supplying SAF in the first half of 2025 to help the local aviation sector meet its net zero goals.
PNG resource split boon – Papua New Guinea announced its highest-ever resource sharing contract for its Pasca A gas-condensate field, at 70%, with the rest owned by Twinza and Mineral Resources Development Company. It is higher than the 63% share of another field, P’Nyang, and better than its initial PNG LNG deals with ExxonMobil, which industry watchers quietly said was unfairly slated to the US giant. Pasca A, which has seen multiple delays, will first develop liquids such as LPG and then LNG.
NZ partners with researchers for new energy – The New Zealand government has awarded cash to two research teams to work with Asian partners for what it calls “cutting edge research” into alternative energy after an open call for research proposals under the e-ASIA Joint Research Programme. One project will take waste material, from forestry or other biological sources, to turn into hydrogen to be used as an energy source. The plan is to use this instead of fossil fuel imports, such as the LNG import terminals New Zealand has been mulling. The second project will study the future of solar cell tech and build a virtual platform to predict solar cell material combinations and how they will perform in real-world adaptations. The work is hoped to de-bottleneck commercial development of next-generation solar power devices.
Plan of action – New Zealand’s coalition government has published a hydrogen action plan which it says sets out key steps to unlock private sector investment in hydrogen energy. Transport Minister Simeon Brown said the plan seeks to lower regulatory barriers and enable industry to further develop hydrogen energy solutions. The plan focuses on the following priority areas: reducing barriers for consenting hydrogen projects through ElectrifyNZ and RMA reform work programmes, promoting a cost-effective and market-led transition, and supporting access to international investment markets.
AMERICAS
SCOTUS watch – The US Supreme Court agreed on Friday to review a legal challenge around a provision of the Clean Air Act that allows California to adopt its own emissions standards. The state set its own GHG standards since 2009 through a waiver granted by the US EPA, which was partially withdrawn during the Trump administration and reinstated in 2022. California requires all passenger vehicles sold in the state to be zero-emission vehicles by 2035 as part of the 2022 waiver. Fuel producers filed an appeal of a decision by the US Court of Appeals for the District of Columbia Circuit which said they had no legal right to challenge the waiver. The case, Diamond Alternative Energy vs EPA, will be argued in the spring. The Supreme Court denied a broader challenge to California’s authority to set stringent pollution standards for vehicles led on Monday – an effort taken up by the Ohio Attorney General and other Republican-led states.
Cartel collusion? – The US House Judiciary Committee released a preliminary report on Friday into their investigation of the role of climate coalitions and financial institutions in the replacement of oil giant ExxonMobil’s board members. The report dubs climate coalitions, including the Glasgow Financial Alliance for Net Zero (GFANZ), the Net Zero Asset Managers initiative (NZAM), Ceres, and Climate Action 100+, as a “climate cartel” for allegedly colluding since 2020 to replace three ExxonMobil board members after they refused to make a series of climate pledges. The report also accuses the Biden administration of failing to investigate and enforce US antitrust law “despite clear evidence of collusion”.
Concrete jungle decarbonisation – Large buildings in New York City have reported reductions in site energy use for the fifth consecutive year, moving towards closer compliance with emissions reductions mandates, non-profit Urban Green Council said Monday. Across NYC buildings over 25,000 sq. ft, 92% of all buildings have met the 2024 carbon limits set by Local Law 97 (LL 97) and 43% meet the 2030 carbon limits. Analysis by Urban Green also found that emissions dropped 26% among regularly benchmarked properties since 2010.
Steel yourselves – Brazil’s steel sector has rejected the country’s ambitious emissions reduction targets announced at COP29, calling them unrealistic and financially burdensome. Marco Polo de Mello Lopes, head of industry group Aco Brasil, said the goals “petrified” the sector, which refuses to adopt unachievable commitments. The government aims to cut emissions by 67% from 2005 levels by 2035, positioning Brazil as a climate leader ahead of hosting COP30 in 2025. However, Aco Brasil estimates the industry would need R$180 bln ($29.3 bln) in investment to achieve net-zero emissions by 2050. The sector, already under pressure from “predatory imports”, particularly from China, is urging the government to introduce a carbon border adjustment mechanism (CBAM) similar to the EU’s to protect domestic production. Without it, industry leaders warn of increased imports and harm to local steelmakers. While Brazil’s iron and steel industry accounts for 4% of national emissions, below the global average of 7%, Aco Brasil highlights agriculture’s outsized contribution to the country’s carbon footprint. The industry said it remains committed to emissions reduction but argues it alone cannot meet Brazil’s climate commitments. (Bloomberg)
Chile e-fuel – HIF Global, an international e-fuels company, announced Monday the arrival of a direct air capture (DAC) unit in Chile, in what it claims to be the country’s first. The test unit was developed by HIF Global alongside Porsche and Volkswagen Group, detailed in a Sep. 2023 announcement. The unit will be integrated into production of clean fuels, and construction of the unit is expected to be completed during Q1 2025.
Verra for me, Argentina – Verra has joined the Argentine Carbon Roundtable, a group of over 45 entities working to strengthen Argentina’s carbon markets. Verra said it aims to share its expertise in managing the Verified Carbon Standard (VCS) and support Argentina’s integration into voluntary and compliance carbon markets globally. The roundtable’s goals include promoting regulatory frameworks, building capacities, certifying measurement and verification mechanisms, and advancing Argentina’s role in international carbon credit markets. A key initiative is the drafting of a bill to enhance legal certainty and transparency, aligning Argentina with Article 6 of the Paris Agreement.
VOLUNTARY
Carbon trading focus – Switzerland-based commodities trader Trafigura has released its annual financial results for the fiscal year ending Sep. 2024, reporting the issuance of its first carbon credits from investments in nature-based removal projects. The company confirmed its focus on expanding the carbon trading division in the coming year, with nature-based solutions playing a central role.
SBTi updates – The Science Based Targets initiative (SBTi) has updated its terms of reference for the oil and gas, chemicals, and power sectors, in what it said was an effort to prioritise sectors with the greatest potential to drive decarbonisation. The SBTi plans to present a draft of its oil and gas standard for public consultation early next year, followed by a second consultation of 45 days. Meanwhile, the SBTi is now holding a second public consultation on its chemicals sector criteria, and asking chemicals companies to pilot the criteria, with responses to both due by Jan. 10. It expects to release the final chemicals criteria in Q3 2025. For power, the SBTi plans to release its first public consultation draft on the sector’s standard in Q2 2025.
RusHydro – Russian hydroelectricity company RusHydro has published documentation for a climate project aimed at reducing greenhouse gas emissions at Vladivostokskaya CHPP-2 power station. The project, listed on Russia’s Carbon Units Registry, involves replacing coal-fired boilers with gas-fired units, aligned with RusHydro’s low-carbon development strategy targeting a 9% reduction in CO2 emissions by 2035 compared to 2015 levels. By transitioning to natural gas, annual emissions are expected to decrease by an average of 63,637 million tonnes, according to the document.
Partners – TUV SUD has partnered with SustainCERT to enhance the SustainCERT digital verification platform, the first of its kind for validation and verification Bodies (VVBs). The collaboration leverages TUV SUD’s decades of carbon market expertise and SustainCERT’s leadership in digital solutions, the companies said, integrating data science and AI to streamline verification processes, improve efficiency, and boost transparency in carbon markets. The AI-powered platform enhances workflows, ensures data accuracy, and strengthens trust in climate reports, enabling scalable and credible carbon credit verification. Both companies aim to support the carbon market’s growth by delivering reliable, high-quality solutions that align with global standards, ensuring greater integrity and transparency. SustainCERT, known for its technological innovation and climate expertise, continues to drive digitalisation in carbon markets to scale climate action effectively, it added.
AND FINALLY…
What’s your eco-tipple? – The environmental impact of alcohol consumption has been largely overlooked in sustainability discussions, though its carbon footprint can be significant. For instance, a Swedish study found alcohol generates 52kg of CO2e per person annually, equivalent to four steaks or 70 glasses of milk. The carbon footprint varies widely depending on the type of alcohol, production methods, packaging, and transportation. Beer generally has a smaller footprint per litre compared to wine and spirits, though portion sizes even this out. Sparkling wine and spirits like brandy tend to have higher emissions than other alcoholic beverages. Glass packaging is a major contributor to alcohol’s carbon footprint. Glass bottles, especially heavier ones perceived as higher quality, are energy-intensive to produce and transport. Alternatives such as bag-in-box wine and cans are more climate-friendly due to their lighter weight and lower energy demands. However, boxed wine faces challenges like lower recyclability of plastic components and shorter shelf life, making it less suitable for aging wine. Sustainability improvements are emerging across the industry, including regenerative farming, renewable energy use, and innovative recycling methods. Some businesses have experimented with turning waste streams into spirits or using captured CO2. Consumers are advised to seek organic wines, which avoid synthetic pesticides, and prioritise producers employing sustainable practices. Ultimately, the simplest solution to reduce alcohol-related emissions is to drink less, which also brings health benefits. Shifting focus to smaller portions, better quality drinks, and sustainable packaging could make alcohol consumption more environmentally friendly. (BBC)
—————————————————
Subscription offer – We’re offering new subscriber organisations 15 months of access to our news and intelligence for the price of 12. Purchase an annual subscription by Dec. 20, 2024, and get 3 extra months for free. Have we recently quoted you a price? Our 15-for-12 offer applies to that too, if you purchase your subscription by Dec. 20. Email sales@carbon-pulse.com to inquire.
Got a tip? How about some feedback? Email us at news@carbon-pulse.com
