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TOP STORY
European countries outline conditions for EU-UK ETS linkage
EU countries are broadly “open” to support the linkage of the EU and UK emissions trading schemes in order to achieve efficiencies in cutting greenhouse gases — provided a number of conditions are met and that Britain contributes to the costs, according to EU filings seen by Carbon Pulse.
EMEA
Poland should leverage presidency to support EU engagement with Article 6, expert says
Poland should use its presidency of the Council of the EU to advocate reforms promoting international cooperation in the bloc’s climate policy, including reopening its cap-and-trade carbon market to international credits, an expert at a Polish government-affiliated organisation said on Tuesday.
EU methane regulations could hit LNG, but drive low-carbon cargo uptake -analysis
New European regulations on methane imports will pose challenges and possible boons for LNG importers and those planning exports to the continent, according to an analysis published this week.
EEX posts 10% rise in EU emissions traded volumes in 2024
Germany-headquartered EEX posted a 10% rise in traded EU carbon volumes last year, according to data published Wednesday, though open interest on futures has slumped to multi-year lows since the expiry of the Dec-24 EUA contract last month.
Germany waives first ETS2 deadline for regulated companies
Companies in Germany regulated by the incoming EU-wide heating and transport Emissions Trading System, ETS2, will not have to report their emissions in April, the national authority said on Tuesday.
Ukraine revives greenhouse gas monitoring, paving way for EU ETS integration
Ukraine has adopted legislation to restore mandatory monitoring of emissions, paving the way for its integration into the EU Emissions Trading System (ETS).
Grant programme awards £52 mln to emissions-cutting projects across Britain
Companies with innovative projects to reduce emissions have been granted £51.9 million as part of the UK’s Plan for Change to deliver on net zero, the government said on Thursday.
Euro Markets: EUAs slide for a third day on long squeeze as gas weakens amid speculative selling
EU carbon allowances followed natural gas prices lower on Wednesday, dropping to trade close to technical support levels despite weekly position data showing that investment funds ramped up their buying last week and now hold the largest net long position in 22 months.
ASIA PACIFIC
Bangladesh submits Art 6.4 project list to the UN
Bangladesh has included a list of project activities under Article 6.4 mechanism of the Paris Agreement in its latest submission to the UNFCCC, even as it prepares a positive and negative list for Article 6 projects that will be incorporated in its updated Nationally Determined Contribution (NDC).
Australia’s power grid decarbonisation will require gas as back-up -study
A recent study has highlighted the careful balance Australian policymakers must strike between growing the country’s renewable energy capacity and electrifying much of its natural gas demand.
Indonesia looking to expand customary forest management, says organisation
Indonesia is looking to protect 5 million hectares of forest land by forming a task force that will drive recognition of customary land holders, the Customary Territory Registration Agency (BRWA) said this week.
Carbon sequestration potential of guava orchards increases with tree age -study
Guava orchards sequester more carbon as the trees age, a study published on Wednesday demonstrates, which is valuable to land-use change decisions that consider environmental impacts.
AMERICAS
BRIEFING: California Diablo Canyon nuclear plant owner supports motion to dismiss lawsuit against US DOE funding
The owner of California’s Diablo Canyon nuclear plant filed a brief earlier this week in support of US DOE’s motion to dismiss an environmental NGO’s case against the agency for approving a $1.1 billion loan to prolong the facility’s operations.
Repealing US clean energy tax credits would save $852 bln in next decade -report
A Republican-led Congress is likely to revisit the Inflation Reduction Act (IRA) as part of broad tax reform, as the cost of the 22 clean energy tax credits almost doubles with EPA’s new emission rules, according to analysis from a conservative US think-tank.
US orphaned well non-profit launches insurance-backed carbon credit programme
A US non-profit dedicated to plugging orphaned oil and gas wells across the country will now offer insured carbon credits from methane abatement, it announced Wednesday.
Brazilian development bank, beverage giant approve $1.6 mln to restore biomes in Ceara
Brazil’s National Bank for Economic and Social Development (BNDES) has approved R$5 million ($800,000), matched by a multinational beverages company, for the restoration of territory in Ceara State as part of a nationwide initiative for ecological restoration and CO2 removal.
INTERNATIONAL
“Greater than the Amazon”: Bahamas pitches seagrass meadows carbon project to international buyers
The Bahamas is preparing to launch a new seagrass meadows conservation project under Article 6 of the Paris Agreement in the coming months, with a senior official telling Carbon Pulse the area under consideration has a CO2 sequestration rate “greater than the Amazon forest”.
BRIEFING: Long-time dream of nuclear fusion is set to reshape global energy sector, says WEF
Commercial nuclear fusion has finally moved from the realm of science fiction into reality, paving the way to reshape the global energy sector and help the world achieve net zero emissions amid rising electricity demand, the World Economic Forum (WEF) said on Tuesday.
Nickel mining has much larger carbon footprint than previously estimated -study
The carbon footprint associated with the precious metal should factor in biomass loss from nickel mining operations into emissions reports, which would show a larger and more accurate impact, according to a new study.
VOLUNTARY
New Climate Label certification kicks off with $15/t internal carbon fee
At least 20 consumer brands are launching $15/tonne internal carbon fees in 2025 under a new certification standard that could see them buy carbon credits to hit their targets.
BIODIVERSITY (FREE TO READ)
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Report flags “major problems” with UK biodiversity net gain small sites
The UK’s biodiversity net gain (BNG) legislation’s burdensome requirements for small sites will cause the scheme to fail without action, said a survey by a professional body of ecologists published Wednesday.
Researchers develop framework to reduce biodiversity monitoring cost
A group of international researchers, led by the University of Kent’s Durrell Institute of Conservation and Ecology, has developed a framework for improving biodiversity monitoring while reducing associated costs.
Conservationists slam Indonesian govt over plans to convert forest lands for industrial use
The Indonesian government has announced plans to convert 20 million hectares of forest into agricultural land, triggering loud concerns from environmental organisations.
Scottish coastal project seeks to develop innovative financing model
A government-backed Scottish coastal initiative is trying to develop an innovative business model to support large-scale nature restoration, potentially involving biodiversity and carbon credits.
A quarter of freshwater animals at high risk of extinction, IUCN says
Nearly a quarter of freshwater animal species on the International Union for the Conservation of Nature (IUCN) Red List face a high risk of extinction, according to an assessment released on Wednesday.
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ADVERTISING BROCHURE
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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. Coinciding with Abu Dhabi Sustainability Week and kicking off the day after IETA’s MENA Carbon Market Dialogue, we’re bringing together regional and international carbon markets experts to discuss opportunities and risks within MENA. The two-day event will be a must-attend for anyone working in, or wishing to explore, carbon markets in the region. Last chance to register
Carbon Forward Asia – Mar. 4-5, Singapore – Our third annual Asian conference will once again be held in Singapore. Like at our past events, we’re excited to bring together experts from Asia Pacific to talk ASEAN markets, regional opportunities, developments in local and global carbon pricing, and all the topics you need to hear about across a stimulating two days. Register here
North American Carbon World (NACW) – Mar. 25-27, Los Angeles – The annual NACW conference addresses the most pressing issues in climate policy and carbon markets to the largest gathering of climate professionals in North America. NACW 2025 will dive into major new policies and developments that will shape and scale carbon markets and climate solutions with integrity and ambition. In addition to outstanding speakers, discussions, and insights, NACW provides premier networking opportunities with an active and engaged audience of carbon professionals. Join us for the content, community, and connections for successfully navigating the low-carbon landscape and advancing market-based climate solutions. www.nacwconference.com
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Premium job listings
- Assistant Director, Carbon Markets, Asia Society Policy Institute (ASPI) – Washington DC/at Asia Society Centers in US, India, Korea, Japan, Australia, France, or Switzerland
- Senior Program Officer, Carbon Markets, Asia Society Policy Institute (ASPI) – Washington DC/at Asia Society Centers in US, India, Korea, Japan, Australia, France, or Switzerland
See all listings or post a job
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BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
Holding to account – The annual UN climate summits are dominated by powerful forces pushing false narratives and by tech fixes that divert attention from real, equitable solutions for the countries least responsible and most affected, said Elisa Morgera, UN special rapporteur on climate change, as reported by the Guardian. She argues for open sessions at COPs in which Indigenous Peoples, UN agencies, and others from civil society should be able to make textual suggestions for states to consider in real time, in addition to the UNFCCC ensuring total transparency over corporate interests. At COP29, following the late decision to adopt rules to govern carbon markets, Morgera issued a strong statement condemning the decision to fast-track and prioritize carbon markets over what she deems as other, more effective climate solutions, and without transparency or proper consideration of the negative human rights impacts.
EMEA
Vicious circle – A letter signed by civil society organisations including 350.org, Greenpeace Ukraine, and European Environmental Bureau (EEB) has called on European mayors to reduce oil demand via better urban mobility policies and raising awareness among citizens that every litre of petrol or diesel oil burnt in motor vehicles only prolongs Russia’s war against Ukraine. The letter points out that revenues from oil and gas rose by around 41% year-on-year in H1 2024, with oil export revenues four times higher than those from gas exports. Even though the the EU, the US, and other G7 countries imposed an oil embargo on Russian oil since the start of the war, the Kremlin has amassed more than €800 bln in revenue from its fossil fuel exports, due to weak enforcement and increased global oil demand, the letter stated. Weak enforcement includes: the “refining” loophole allowing Russia to legally ship its oil products refined by third countries such as India and China to the EU and the US; Russia’s “shadow” fleet of tankers that allows it to sell its crude oil above the established price cap of $60/bl, with almost half of Russia’s crude oil carried out on tankers owned or insured by G7/EU countries; and the role of Western firms in supporting Russia’s fossil fuel sector with critical technology. Enforcing these measures would increase oil prices, which governments are keen to avoid, it points out.
Africa climate call – The African Development Bank Group (AfDB) has launched a Call for Proposals for its Climate Action Window (CAW), offering $56 mln to support climate projects in 37 low-income African countries, a LinkedIn post stated. Proposals should focus on preparing climate-resilient projects, strengthening adaptive capacity, and reducing climate vulnerabilities at the systemic level. Projects can receive between $260,000 and $1.3 mln and the call is to open to governments, regional organizations, and UN agencies in the most vulnerable African nations. The initiative targets adaptation and mitigation efforts aligned with the Paris Agreement, Nationally Determined Contributions (NDCs), and National Adaptation Plans (NAPs). Proposals are due by Feb. 5, 2025, at 11:59 GMT. More info here.
ASIA PACIFIC
Consulting on carbon – The New South Wales Environmental Protection Authority has launched a consultation on proposed regulation to reduce upfront carbon emissions in major public infrastructure projects such as hospitals, schools, and roads. The Protection of the Environment Policy for sustainable construction proposes new standards for reporting and reducing upfront carbon emissions, while encouraging the use of recycled materials in public infrastructure projects. State government agencies would need to report on how they are decreasing emissions and prioritising recycled materials. A report accompanying the consultation by research firm the Centre for International Economics estimates the policy change could reduce GHG emissions in the long term by some 3% from infrastructure projects. The consultation runs until Apr. 2, 2025.
Net zero study – Global insurance firm AXA XL has partnered with University of Oxford’s initiative Oxford Net Zero for an 18-month project to understand private sector-approach to achieving net zero emissions in developing countries such as India, Kenya, and Mexico. The project will study how private sector entities, including small- and medium-sized enterprises (SMEs), can contribute to net zero transitions in these economies specifically in two sectors such as food and beverage, and construction and buildings. It will also explore criteria for responsible carbon offsetting in the three countries, aiming to extract insights with broad applicability across developing countries and emerging economies, the firm said. The study is expected to run from Sep. 2024 to Mar. 2026.
Low-carbon concrete – Two companies in Thailand Concrete Chonburi Product (CCP) and the energy conglomerate PTT have partnered to develop an innovative low-carbon concrete product named ‘G-Block’, which aims at reducing the construction industry’s carbon footprint substantially, the Nation reported. The concrete product has also seen its first implementation at a garden project in Rayong province. According to technical specifications, G-Block can lower CO2 emissions by 1.8-3.1 kgs per square metre compared with traditional concrete products. If G-Block gains market acceptance, it could catalyse a significant shift towards sustainable practices within Thailand’s construction sector, the media outlet added.
WA ups clean spend – Western Australia has allocated another A$18 million ($11.16 mln) via its Clean Energy Future Fund as part of its sectoral emissions reduction strategy, it said this week. The additional money extends the fund to a total of A$37 mln. The Clean Energy Future Fund is administered by the Department of Water and Environmental Regulation with support from Energy Policy WA. Rounds 3 grant applications closed in the middle of last year, with seven projects awarded a total of A$16 mln.
CCS clarity – Indonesia’s oil and gas industry has welcomed new carbon capture and storage (CCS) regulations from the government, the Indonesia Business Post reported Wednesday. The Ministry of Energy and Mineral Resources (ESDM) issued the regulations. The Regulation of the Minister of Energy and Mineral Resources No. 16/2024 on the Implementation of Carbon Storage Activities was released Dec. 20, 2024 and promulgated on Dec. 24, 2024, but was only reported by the press this week. Indonesia is betting big on CCS, and is becoming one of the most preferred potential locations in the Asia Pacific thanks to abundant storage, a knowledgeable local oil and gas industry, and multiple pieces of legislation.
Singapore and Vietnam credit cooperation – Singapore is looking to develop carbon credit collaboration with Southeast Asian neighbour Vietnam. The Voice of Vietnam reported this week that Singaporean President Tharman Shanmugaratnam told the new Vietnamese ambassador Tran Phuoc An, when the latter presented his credentials. Other areas of cooperation include clean energy, AI, finance, and education. Singapore has signed a slew of agreements, and a recent Memorandum of Understanding with Malaysia, on Art.6 collaboration. Vietnam’s planned carbon credit pilot scheme, which becomes mandatory in 2027, does not allow for it to sell into the international market but may allow its emitters to source up to 20% of credits internationally. Singapore’s allowance is a more modest 5%.
Renewables rise – Energy consultancy Rystad Energy said this week Australian solar PV and wind assets generated a total of 4,551 GWh in December, a rise of 4% over the same time last year. On an annual basis, renewables generation across the National Electricity Market (NEM)and Western Australian Electricity Market (WEM) reached 92 TWh or 39% of total generation, a LinkedIn post said.
AMERICAS
Solar for CO2 capture – UK-based renewable energy producer Low Carbon has signed a power purchase agreement (PPA) with direct air capture developer Deep Sky, based out of Quebec. The 10-year PPA is expected to include 10 GWh of renewable energy per annum from Low Carbon’s Lethbridge 1 solar project in Canada supplied to power Deep Sky’s first facility in Alberta, Canada, called Deep Sky Alpha. The solar energy supplied will be enough to power 100% of Deep Sky’s Alberta operations, said the release Wednesday. “Securing renewable power for novel CO2 removal projects is incredibly difficult, and we couldn’t be more excited to have Low Carbon as our partner in Alberta,” said Damien Steel, CEO at Deep Sky. The company received $40 mln from Bill Gates’s Breakthrough Energy Catalyst in December, to fund its DAC test ground in Alberta that will initially have room for eight companies to try out their carbon removal technologies in preparation for commercial-scale plants.
Railroad revolution – Californian Governor Gavin Newsom (D) announced a new plan to establish a fully connected, zero-emission rail network in the state by 2050. The State Rail Plan aims to increase rail and transit’s share of travel to 20% from 2%, which entails shifting nearly 200 mln daily passenger miles (322 mln km) to the statewide rail and transit network from highways. The initiative is expected to reduce GHG emissions and traffic congestion, in addition to electrifying rail lines and boosting regional connectivity. The plan is projected to be funded through a direct capital investment of $310 bln from local, state, federal, and private funding, with an estimated economic return of over $540 bln by 2050.
Testing, testing – Houston-based CO2 storage project developer Blue Sky Infrastructure is seeking a permit for the first carbon capture test injection well in Ascension Parish, Louisiana. The DOE-funded River Parish Sequestration Project will construct a Class V test well near Donaldsonville, LA. If successful, the well might be converted into a Class VI injection well for CO2 storage. A public hearing is scheduled for Jan. 30.
Brewing a greener future – Glasgow-based coffee roaster Matthew Algie has initiated a £50,000 two-year pilot project in Honduras aiming to decarbonise its supply chain and achieve net zero by 2040. With Scope 3 emissions accounting for 90% of Algie’s total carbon footprint, the Net Zero Supply Chains Pilot Project uses data from 100 Honduran coffee producers to identify and reduce emissions hotspots, in addition to protecting forests and improving gender equality throughout their operations. Partnering with Solidaridad Network, the project aims to scale globally to other coffee-producing countries including Brazil, Uganda, and Vietnam. (World Coffee Portal)
Brighton anchors eco achievement – The Port of Brighton in Trinidad and Tobago has become the first country in Caribbean Community (CARICOM) to receive EcoPorts PERS certification. The designation, granted in Dec. 2024 by the ECO Sustainable Logistics Chain Foundation (ECOSLC) under the European Sea Ports Organisation (ESPO), involved an independent assessment conducted by Lloyd’s Register Quality Assurance (LRQA), Netherlands. EcoPorts PERS incorporates established frameworks such as ISO 14001, and is the only port-specific environmental and sustainability standard tailored to port operations. The certification brings the Trinidadian port into a network of 66 certified EcoPorts around the world. (Loop News)
VOLUNTARY
Peatland tool – The Global Carbon Council (GCC) has launched a new online tool to help combat peatland emissions, a LinkedIn post announced. The GCC NbS Tool for Estimation of GHG Emissions from Oxidation and Burning of Peat (GCCTA004 v1.0) provides a structured, scientifically robust method to quantify GHG emissions from drained peatlands, addressing GHG emissions from oxidation, and peat fires, it said. Key highlights include thorough GHG emissions accounting and data-driven monitoring tailored to peatland restoration. The tool is now available to project developers, who can learn more here.
SHIPPING
Greener bunkers – Jaguar Land Rover has joined vehicle carrier firm UECC’s Sail for Change initiative to use low-carbon liquefied biomethane (LBM) in maritime transport. The inclusion of the British luxury car maker brings the total to four vehicle manufacturers participating in the initiative, which launched last July. The programme uses LBM or bio-LNG, supplied by Titan Clean Fuels, to bunker UECC’s five dual-fuel LNG pure car and truck carriers, which operate in European short-sea trade, aiming to drive emissions reduction in shipping. LNG bunker demand grew rapidly last year, but in the long term, the viability of these ships will depend on bio- and synthetic LNG supply being scaled up fast enough to meet new demand and deliver GHG savings beyond what fossil LNG can offer. (shipandbunker.com.)
AND FINALLY…
CO2-Crunching Critters in Your Cabinet – A new citizen science project is encouraging volunteers to look for CO2-eating bacteria and algae in their homes, Grist reported Wednesday. Scientists from The Two Frontiers Project, a US non-profit research organisation, will test CO2 capture abilities of microbial samples gathered by volunteers who are participating in its “Extremophiles: In Your Home” project. Participants are encouraged to source from “extreme” environments in their place of residence, namely those with extreme hot-cold cycles, including washing machines, refrigerator drip lines, and hot-water heaters. Those who sign up must upload photos of such environments, and, subject to review by researchers, will be sent a testing kit.
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