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TOP STORY
UKAs surge on reports of British govt push for ETS linkage with EU
UK carbon prices rallied above £40 on Tuesday on reports describing a push from Prime Minister Keir Starmer’s government to link the British emissions trading market to that of the EU – a plan strongly supported by the Scottish government.
VOLUNTARY
Credits from world’s largest soil carbon project could be invalid after landmark ruling
More than a million credits from the world’s largest soil carbon project, the Northern Kenya Grasslands Project, could be invalid after a landmark court ruling this week.
FEATURE: DAC startups seek to stand out by offering added benefits of water, electricity production
A couple of early-stage direct air capture startups seek to stand out from the pack by offering the added benefits of generating electricity in one case, and water in the other, alongside capturing CO2 from the air.
CDR project portfolio manager unveils initiative to widen access to BECCS market
A CO2 removal (CDR) project portfolio manager has unveiled a new initiative aimed at widening access to bioenergy carbon capture and storage (BECCS) technologies.
US carbon firm, Estonian project developer ink deal for first EU-based afforestation credits
A California-headquartered carbon solutions provider and an Estonian project developer announced Tuesday what they called the first-ever offtake agreement for afforestation credits from an EU-based project.
CO2 transformed to renewable methane via solar energy -study
Researchers in Navarra, Spain are using the power of the sun to turn CO2 into methane – a possible substitute for natural gas.
INTERVIEW: Voluntary buyers must act now despite SBTi uncertainty on carbon credit use
Uncertainty over whether the Science-Based Targets initiative (SBTi) will approve carbon credit use as part of corporate net zero goals does not have to deter buyers from participating in the voluntary market — but they should adopt a creative approach to accounting while they wait for clarity, according to the CEO of a brokerage.
EMEA
EU centre-right divide deepens amid “violent” talks on ETS2 and CBAM
The ruling centre-right European People’s Party (EPP) is facing intense internal divisions over the future of the EU’s Emissions Trading System for road and heating fuels (ETS2) and the Carbon Border Adjustment Mechanism (CBAM), and has so far failed to reach consensus on what the bloc’s 2040 emissions reduction target should be.
Czechia calls for CBAM changes to cut admin burdens
Czechia is pushing for a “detailed evaluation” of the EU’s Carbon Border Adjustment Mechanism (CBAM) as part of a review of the legislation due to take place before the end of 2025.
Germany set to transpose EU ETS reform this week
There will not be a fixed price in Germany’s national emissions trading system (ETS) next year and it will not unilaterally opt in waste incinerators to the EU ETS, according to a last-minute cross-party compromise seen by Carbon Pulse that is set to be approved by the Bundestag on Friday.
Euro Markets: Bulls drive late spike in EUA prices to erase early losses and defend positions ahead of auction pause
European carbon prices jumped late in the session on Tuesday as bullish traders drove prices higher ahead of the settlement window to defend the recent rally in the face of growing bearish sentiment, while UKAs gained by the most in the market’s history after the Financial Times reported that the British government has asked for relinking to the EU ETS to be added to the agenda of an upcoming summit in Brussels.
Thermal energy storage could cut costs by 30-150% while decarbonising industrial heat -report
Thermal energy storage (TES) could reduce energy costs by 30-150% while helping to decarbonise industrial processes and stabilise power grids, according to a report released Tuesday.
Ecocem set to break ground on its first low-carbon cement technology plant
Low-carbon cement producer Ecocem intends to build the first production facility dedicated to its new cement technology in the French port city of Dunkirk, the company announced on Tuesday.
AMERICAS
US judge temporarily halts federal funding freeze
A federal district judge issued an order Tuesday temporarily blocking US President Donald Trump’s executive order (EO) pausing all federal funding on the same day that the measure was scheduled to go into effect.
BRIEFING: Experts warn of double, triple counting in California CDR
California’s accounting practices for emissions reductions and carbon removal claims have come under fire from experts, who point to loopholes opening the door to double and even triple counting.
Texas AG threatens Wall Street banks with enforcement action over ESG policies
The Texas Attorney General (AG) has threatened enforcement actions against six major financial institutions if those institutions continued their commitments to environmental, social, and governance (ESG) standards.
US industry leaders urge congress to preserve 45Q tax credit
A coalition of over 160 businesses and organisations spanning the energy, manufacturing, and environmental sectors have called on congress to maintain bipartisan support for section 45Q tax credits, a federal policy incentivising carbon management technologies.
Canadian manufacturer commits C$1.1 bln to electric vehicle development
A Canadian manufacturing company plans to invest approximately C$1.1 billion ($763.7 million) to develop electric vehicle (EV) technologies, including funding from multiple levels of government, it announced Tuesday.
Australian lithium developer looks to generate carbon credits using CDR in Quebec
An Australian lithium developer has announced partnerships with several carbon removal (CDR) technology firms to develop carbon sequestration capabilities at a former diamond mine in Quebec.
ASIA PACIFIC
Value of Australian carbon market grew by 31% in 2024 -analysis
The value of the Australian Carbon Credit Unit (ACCU) Scheme reached A$1.1 billion ($688 mln) in the 2024 calendar year as a direct result of compliance buying by companies covered under the Safeguard Mechanism, a report published Tuesday has found.
Indonesia’s clean rhetoric must be balanced with clear new regulations, think tank says
Indonesia’s new leadership has failed to implement the policies necessary to achieve its updated 2050 net zero target or its energy independence target in the first 100 days, a local think tank said.
Australian state halts wind farm approval process for projects set to supply miner, smelter
Queensland has paused plans for several large-scale wind farms whose electricity was to be purchased by mining companies with facilities under Australia’s Safeguard Mechanism.
Japanese developer debuts IFM methodology
A Japanese climate solution developer has debuted a new methodology that will credit forests owned by corporate entities in a move it said will rival and improve upon J-Credits.
Blue carbon financing faces permanence risks in Southeast Asia mangrove conservation -researchers
The vast majority of mangroves in Southeast Asia face permanence risk, thereby jeopardising their long-term viability as investable blue carbon sinks, a new study has warned.
INTERNATIONAL
FEATURE: ‘Avoided’ emissions confusion hangs over international carbon markets
Competing understandings of ‘avoided’ emissions have proliferated across international carbon markets and the greenhouse gas (GHG) accounting landscape, perpetuating confusion over the term while sending mixed signals to prospective buyers of credits.
ICE to launch new carbon registry platform, host ACR, ART credits
The Intercontinental Exchange announced Tuesday it will launch a new digital platform in late 2025 to streamline carbon credit lifecycle management, with Winrock International’s Environmental Resources Trust (ERT) serving as its first partner.
Geological CO2 storage development skewed towards wealthier nations, study finds
Rich countries with established oil and gas industries are leading the development of geological CO2 storage (GCS), leveraging existing infrastructure and expertise, while lower-income countries, despite often facing greater climate challenges, struggle to access the resources needed to implement this critical technology – exposing deep inequalities in global climate action.
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.
UK charities join forces to scale nature-based solutions in Kenya
Two UK-based NGOs have partnered to scale nature-based solutions (NbS) in Kenya, aiming to advance conservation and restoration efforts across freshwater and mangrove habitats, they announced on Tuesday.
Portuguese firm launches initiative to support roll out of plastic credit projects in developing countries
A Lisbon-based advisory firm has launched an initiative to support collection and recycling projects entering the inaugural plastic credit market, aiming to scale private financing towards developing countries, its co-founders told Carbon Pulse.
Canada funds satellite observation for biodiversity
Canada’s federal government is offering up C$5 million (US$3.5 mln) to projects aimed at developing space-based solutions for biodiversity protection and restoration across the country.
Biodiversity Pulse: Tuesday January 28, 2025
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
Calyx Webinar: 5 Ways to Minimize Environmental and Social Risk – Jan. 29 – As a carbon credit buyer you want to maximize your impact and minimize your risk. Join sustainable development experts as they share strategies for decreasing environmental and social risks in carbon projects so you can make informed purchasing decisions and investments. Register now!
India Climate Week – Feb. 3-7, New Delhi – Carbon Markets Association of India (CMAI) is launching India Climate Week at Hotel Le Meridien, New Delhi. This event will bring together policymakers, industry leaders, and climate action advocates to discuss carbon markets, green technologies, and India’s Net Zero path. Highlights include panel discussions on emerging climate trends, a two-day certification workshop on carbon markets by Indian Institute of Corporate Affairs (IICA), the launch of India SAF and EPR Alliance, and field visits to CBG and Article 6 technologies. The event will feature Shri Nitin Gadkari, Hon’ble Union Minister of Road, Transport and Highways, and Shri Manohar Lal Khattar, Hon’ble Union Minister of Power. Register here.
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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BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
What’s up docs? – Ahead of the next meeting of the Article 6.4 mechanism’s Supervisory Body, the agenda and documents for consideration have been published on the UN website. Stakeholders are invited to provide input on the topics covered in the annotated agenda and related annexes via the public call for input. The deadline for input is Feb. 3. Members of the SBM will hold their first meeting of the year in Bhutan from Feb. 14. Key items that will be discussed during the meeting include: the selection of a new chair and vice chair of the SBM, as well as the Methodological Expert Panel (MEP), and the Accreditation Expert Panel; the 2025 work plan; consideration of the Article 6.4 mechanism registry procedure; methodological standards related to baseline setting and additionality demonstration; and consideration of Clean Development Mechanism transition request cases. The work of the SBM is considered key to implementing Article 6.4 and the Paris Agreement Crediting Mechanism (PACM) in 2025 following last year’s historic decision in COP29 to finalise rules on UN carbon markets. Meanwhile, the MEP, which is undertaking key work relevant to the PACM, is meeting this week in Bonn to discuss key draft standards, including baseline setting, additionality demonstration, and addressing leakage in mechanism methodologies.
ITMO lift-off – Nasdaq said it has now fully developed new capabilities to support ITMO markets for international carbon credit trading between nations, in an outlook video published Monday. No further details were provided, though the company said it offers a services platform for voluntary carbon markets and ITMO markets and registries on its website. “Our technology can now fully support that market,” Gerard Smith, head of post-trade product strategy, said during the outlook, referring to the rules finalised under Article 6 in Baku at COP29. Nasdaq also owns Puro.earth, a carbon removals registry.
EMEA
Airport expansion struggle – UK Energy Secretary Ed Miliband has said the expansion of Heathrow, Gatwick, and Luton airports won’t go ahead if they don’t meet the country’s emission reduction targets — putting him on a potential collision course with Rachel Reeves who has suggested she would be prepared to overrule environmental objections to allow a third runway at Heathrow to go ahead. Reeves focus is on growing the UK economy and is expected to use a speech on Wednesday to support the expansion, as well as similar plans for Gatwick and Luton, Sky News reported. However, Miliband, appearing in front of the Commons Environmental Audit Committee, told MPs that any aviation expansion must take place within the UK’s carbon budgets, including the 2050 net zero goal. The government’s Climate Change Committee (CC) has called for no net airport expansion without a proper national plan to curb emissions from the aviation sector and manage passenger capacity. Separately, analysis by Carbon Brief estimates a forest twice the size of Greater London would need to be planted in the UK to cancel out the extra emissions from the expansion of Heathrow, Gatwick, and Luton airports. New runaways at these London-area airports would result in cumulative emissions of around 92 Mt of extra CO2 by 2050, if the number of flights increases in line with their operating company targets, it found.
Assembling to save forests – Six signatory countries to the Joint Declaration of the Central African Forest Initiative (CAFI) will meet in Kinshasa, Democratic Republic of the Congo (DRC), from Jan. 27-29, in an event which will discuss Payments for Environmental Services (PES). During the meeting, experts across various ministries will draw up an ambitious roadmap for the large-scale deployment of PES in Central Africa, by identifying priority activities, financing needs, and the most appropriate methods of implementation. As well, two PES tools – a planning tool and PES management tool – developed in collaboration with CAFI and the countries in Central African sub-region are expected to be launched soon. These tools offer tailored solutions for preserving forests, providing direct revenues, and improving well-being of local communities. PES focuses on six key activities such as agroforestry, reforestation, perennial crops, regeneration, sustainable forest management, and conservation. CAFI’s six partner countries include the Central African Republic, the DRC, the Republic of Cameroon, the Republic of Congo, the Republic of Equatorial Guinea, and the Republic of Gabon.
Mines as carbon sinks – The Hautalampi battery mineral mine in Finland will be used as a potential regional pilot project for carbon capture and storage (CCS), mining company Eurobattery Minerals has announced. The CCS-project, which has been presented by the Outokumpu Industrial Park and VTT Technical Research Centre of Finland, would be made under the “Project for Rapid Structural Change”, funded by the Regional Council of North Karelia in Finland. The estimated volume of mine backfill of the Hautalampi battery mineral mine, which annually will be some 200,000 m³, presents a great opportunity for CO2 sequestration and storage, the release said. R&D will be performed by the Outokumpu Industrial Park. The project has potential to set a new industry standard for integrating GHG sequestration into mining operations, and by using CO2 in mine backfill, the need for cement in mining operations could be reduced, potentially enhancing the properties of the cement too. The hope is underground mines like this one could act as carbon sinks on a global scale.
Running 5K – The Egyptian Stock Exchange (EGX) has listed only 5,000 carbon credits between the launch of the country’s ‘regulated voluntary carbon market’ model last August and the end of the year, EGX Chairman Ahmed al-Sheikh has confirmed to CNN Business Arabic. Trades totalling over 2,000 tonnes CO2 were announced at the official launch ceremony last summer, with the remainder occurring since then. Egypt’s VCM has struggled initially both with integrating sufficient supply and with drumming up demand, prompting the government to proactively approach potential participants, Carbon Pulse learned.
(Hydro)carbon projects – Egyptian Minister of Petroleum and Mineral Resources Karim Badawi met this week with Environment Minister Yasmine Fouad to discuss inter-ministerial collaboration on emissions reduction. The meeting related to a time-bound roadmap for ongoing implementation of emissions reduction projects in the petroleum sector. In their discussion, the ministers also emphasised the use of modern technologies to achieve oil and gas production targets with a lesser environmental impact. (Awan Masr)
ASIA PACIFIC
Electrifying – Australia’s Climate Change and Energy Minister Chris Bowen has used statutory ministerial referral powers for the first time to ask the board of the Australian Renewable Energy Agency (ARENA) to look at backing more projects electrifying suburbs. The referral came about in cooperation with independent senators David Pocock, David Van, Jacqui Lambi, and Lidia Thorpe. It follows ARENA committing A$5.4 mln in Oct. 2024 to electrify 500 households in the 2515 postcode of New South Wales. The government said in a statement it was looking to replicate the project across the ACT, Western Australia, Queensland, Victoria, and Tasmania.
Rising sea level – A study conducted by researchers at the NTU Singapore and TU Delft, have found that global sea levels may rise by up to 1.9 metres by the end of the century, exceeding earlier projections, if no action to reduce GHG emissions were taken. The researchers developed a new forecasting method that combines complementary data from various sea-level projection models and found that under the low-emissions scenario, where global warming is estimated to be around 1.8C, sea levels are very likely to rise between 0.3m and 1m. In comparison, the UN IPCC had put the figure at up to 0.6m. The rise in sea level along with high tides, storms, and coastal flooding, will pose an existential risk for coastal and island communities. The researchers believe that their new method will provide valuable information for urban planners and governments, helping them plan and implement measures to protect vulnerable communities, The Strait Times reported.
Carbon capture deal – US-based MTR Carbon Capture has partnered with chipmaker Taiwan Semiconductor to supply a Polaris membrane carbon capture system in order to treat emissions from a semiconductor solvent incineration facility in Taiwan. The carbon capture unit will be installed at Taiwan Semiconductor’s Taichung Zero-Waste Manufacturing Centre by the end of 2025. Meanwhile, MTR Carbon Capture has said that it will deploy larger Polaris systems in the future at additional Taiwan Semiconductor facilities and waste-to-energy plants in the region. MTR is working jointly on this project with CTCI, Taiwan’s engineering, procurement, and construction company.
Umpteen agreements – The Odisha government in India has signed three agreements with IIT Bhubaneshwar, World Food Programme (WFP), and Council on Energy, Environment, and Water (CEEW), to tackle climate change challenges, promote sustainable livelihoods, and protect the state’s biodiversity and coastal ecosystems. Under the Enhancing Climate Resilience of India’s Coastal Communities (ECRICC) project, the state forest department and IIT will work on the protection and restoration of seagrass beds and salt marshes along the Odisha coast. In an MoU with WFP, the state government will work on a regional adaptation project between India and Sri Lanka called Adaptation for Resilience (ADAT4R) to strengthen the resilience of vulnerable farming communities facing increased impacts of climate change. Lastly, under the agreement with CEEW, the government will work on developing a net zero roadmap for the state.
Ore tie up – Australian iron ore giant Fortescue has made an offer to acquire a smaller miner, giving it access to a project with a relatively higher grade of hematite ore. Forescue offered A$254 million ($158.7 mln) for Red Hawk, and its Blacksmith deposit, which is close to the Fortescue’s Solomon mine. The offer, which Red Hawk shareholders must approve, is a 28% premium to its closing price of Friday, the last day it traded as the Australian bourse closed Monday for a national public holiday. Red Hawk has said its ore grade is almost 60%, putting it above some of Fortescue’s own Pilbara ore, but is not high enough alone to create direct reduced iron (DRI) which can help decarbonise steel production. Green iron is a focus of Fortescue and its founder Andrew Forrest.
Indonesia plans more carbon capture – Indonesia has said its Ministry of Industry is looking at carbon capture and utilisation (CCU) to reduce industrial emissions. CCU differs from carbon capture and storage (CCS) in that carbon captured is used in products rather than sequestered, typically underground. The MoI signed a MoU with UWin Resources Re Energy and PT Petrokimia Gresik regarding pilot projects for the use of capture technology and carbon utilisation, to reduce petrochemical emissions. This follows from a separate, larger deal with ExxonMobil this month to explore CCUS at a planned petrochemical plant.
Japan close to domestic SAF – Japan’s Cosmo Energy Holdings will soon be supplying sustainable aviation fuel (SAF) to Japan Airlines and All Nippon Airways, Reuters reported Tuesday. It will be the first supply of domestically produced SAF. It is aiming for production of 30,000 kilolitres per year from April, using used cooking oil as feedstock. Cooking oil has become enough of an in-demand commodity in recent years to develop a brisk seaborne trade.
CSG setback – Just over three dozen coal seam gas wells that are part of a much larger project in Queensland’s Surat Basin have been withdrawn by project proponent Arrow Energy, a partnership between Shell and PetroChina. Their Surat Gas Project (SGP) feeds one of the three LNG export consortia in the state, Queensland Curtis LNG (QCLNG). Arrow has said it may resubmit plans to drill six wells. Farmers worried for their water supplies led the charge. “This is believed to be the first time a gas company has withdrawn such an application in response to farmer opposition,” anti-CSG activist group Lock the Gate said in a statement Tuesday. However the wells pulled are a fraction of the 450 planned for development. Separately last week Arrow submitted plans to develop a small solar farm to reduce its operational emissions footprint.
AMERICAS
Blame game – California state Senators Scott Wiener (D) and Sasha Perez (D) introduced a bill on Tuesday to create a legal pathway for individuals and insurance companies to recover alleged damages from oil companies following the LA wildfires. The Affordable Insurance and Climate Recovery Act, SB 222, is supported by environmental group Center for Climate Integrity as well as consumer advocacy groups Consumer Federation of California and Consumer Watchdog. Oil and gas trade group Western States Petroleum Association told Politico that the bill is an ongoing effort to scapegoat the industry for political gain.
Energy bills advance – Pennsylvania’s Senate Environmental Resources and Energy Committee, chaired by Senator Gene Yaw (R), held its first meeting of the 2025-26 legislative session, approving two energy-focused bills. Senate Bill 186, introduced last week, proposes repealing RGGI regulations, citing concerns over higher electricity rates, job losses, and power plant closures. Senate Bill 187 seeks to establish an Independent Energy Office to provide nonpartisan analysis of energy policies, modelled after Pennsylvania’s Independent Fiscal Office. Both bills will proceed to the full Senate for consideration.
Carbon-neutral copper – The Government of Canada has announced a C$41 mln investment through the Strategic Innovation Fund to support Foran Mining Corporation’s C$263.7 mln McIlvenna Bay project in Saskatchewan. The project aims to establish Canada’s first carbon-neutral copper operation by integrating clean technologies, including a battery-electric vehicle fleet, ventilation-on-demand systems, and water recycling infrastructure. This funding builds on a previous C$20 mln investment made in Dec. 2024 by the federal government’s Critical Minerals Infrastructure Fund for hydroelectric connectivity and charging infrastructure.
Driving sustainability forward – Ontario Power Generation (OPG) will supply Clean Energy Credits (CECs) from its hydroelectric generating facility, Sir Adam Beck Generating Complex, to Magna International, a global automotive supplier, to support the company’s sustainability objectives. Businesses in Ontario can purchase CECs to meet environmental goals, with the majority of proceeds directed to the Government’s Future Clean Electricity Fund to invest in low-carbon electricity generation. The initiative aligns with Ontario’s strategy to address a projected 75% increase in electricity demand by 2050.
Concession consultations – The State Secretariat for the Environment (SEMA) in the Brazilian state of Amazonas last week met with leaders from 15 state conservation units (CUs) as part of a public consultation process for previously announced concessions on the CUs. Engagement with local stakeholders, particularly Indigenous and traditional communities, has been a source of controversy around the concessions, with public prosecutors filing a lawsuit in November to suspend the planned concessions. SEMA has previously told Carbon Pulse that it has followed in all applicable legislation in the design and execution of the concessions, and that planned consultations with local communities would be held and agreements only finalised once free, informed, and prior consent was granted by those groups. SEMA said the next step will be in-person meetings at the CUs starting in February, which will be followed by consideration of the management councils of the CUs of their interest in the proposed projects.
Piggy business – A pig farmers’ association (ASUMAS) in the Brazilian state of Mato Grosso do Sul has put in place incentives for farmers to take up biodigesters, transforming pig waste into biogas and fertilisers. This technology not only reduces GHG emissions, but also creates carbon crediting opportunities, local media has reported. ASUMAS has, in turn, promoted strategic partnerships to train its members and foster access to carbon markets. The programme has been devised in conjunction with Embrapa Agropecuaria Oeste, a federal research centre.
Just consider it – Trinidad and Tobago could consider introducing a carbon pricing mechanism to stimulate economic diversification and help reduce the twin island nation’s exposure to the EU CBAM, according to an IMF working paper published Friday. However, a CO2 price might have to extend beyond EU-oriented exports to be compliant with the WTO rules, it added. The carbon pricing mechanism would also need to take into account adverse impacts on carbon-intensive industries in the Caribbean petrostate.
VOLUNTARY
Chief checker – VVB body SustainCERT has announced it now offers validation and verification services for methodology change and re-quantification under the Verra Verified Carbon Standard (VCS) Programme. Project developers are able to voluntarily request a re-quantification to update their projects to new methodologies, or new versions of methodologies. For updating methodologies, they can either reconcile existing carbon credits with the new methodology for past monitoring and verification periods, or request a methodology change for future issuance of carbon credits during verification. Read more here.
A new me – GCC has said it will officially launch its ‘GCC 2.0’ on Feb. 1. The new version brings a streamlined approach, updated regulatory documents, and new tools to support projects, the Qatar-based standard said. Updated regulatory and procedural documents can be found on the GCC website.
CFO appointed – BeZero Carbon has appointed Sophie Corby as its Chief Financial Officer, the ratings agency announced Tuesday. Corby brings with her experience in finance, M&A, and commercial strategy from previous leadership positions at private equity-backed Houseful, owner of Zoopla, Alto Software, and Hometrack, the release stated. The hire follows BeZero Carbon’s $32 mln Series C raise earlier in January, led by Singapore-based GenZero, to help expand its rating coverage to Article 6 credits, the international aviation emission scheme CORSIA, and the voluntary sector.
AND FINALLY…
Tinderbox of the rich & famous – A study by the World Weather Attribution group has found that climate change significantly increased the likelihood of dry conditions fuelling devastating wildfires in Los Angeles and its surroundings. The researchers concluded that the region’s warming climate, now 1.3C above pre-industrial levels, made such conditions 35% more likely, with this probability expected to rise further as global temperatures increase. Prolonged droughts extending into winter have heightened fire risks, particularly during strong Santa Ana winds that exacerbate fire spread. As well, climate-driven “whiplash effects” – alternating between very wet and dry conditions – may have contributed, as previous wet seasons encouraged vegetation growth that later dried and fuelled the fires. The study also highlighted shortcomings in water infrastructure, which struggled to meet the demands of fast-moving fires. California Governor Gavin Newsom acknowledged failures in water pressure, while researchers stressed the need for better pressure management, early warning systems, and evacuation protocols. Notably, 17 of the fatalities occurred in West Altadena, where residents were warned too late. Human factors exacerbated the disaster, with experts noting the risks of building homes in fire-prone areas. Despite this, some residents plan to rebuild, and Newsom has pledged public funds for reconstruction. (Climate Home)
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