- 23:01 GMTThe influential Nature Positive Initiative (NPI) on Wednesday launched a pilot of its draft metrics for businesses and financial institutions in a bid to enable the measuring of progress towards nature positive.
- 22:15 GMTThe 51st state – Luxembourg is officially joining the Global Green Growth Institute, becoming its 51st member state. This follows seven years of collaboration, the intergovernmental organisation said in a press release, including a project in Vanuatu to introduce solar-powered water pumps and develop a national climate funding mechanism. The GGGI and Luxembourg in 2023 formed the SIDS Climate Action Program, to support climate mitigation and adaptation across the Pacific and Caribbean, as well as launched the Global Trust Fund on Sustainable Finance Instruments, which leverages capital markets and builds capacity for sustainable finance. In its first two years, the GTF has mobilised $2.1 bln in climate finance for projects in 18 countries, including climate smart agriculture in Uzbekistan and renewable energy in Namibia.
- 22:15 GMTA global IT and consulting firm has reinforced its environmental commitments in an updated ESG policy, pledging deeper emissions cuts and expanded investment in “high-quality” carbon offsets as it targets net zero by 2040.
- The UK's Woodland Carbon Code has unveiled changes in a new version of its crediting framework, including lengthening the minimum project duration to align with the Integrity Council for the Voluntary Carbon Market (ICVCM) standards, as well as introducing biodiversity baselining.
- 16:25 GMTThe European Commission has unveiled on Tuesday a long-awaited roadmap detailing its strategy to phase out Russian fossil fuels for good by the end of 2027, with the plan to be followed by legislative proposals next month.
- 16:20 GMTEuropean carbon allowances shrugged off a weak session on Monday to advance to their highest in nearly five weeks as technically-focused buyers targeted a key resistance level, while gas prices climbed steadily as the EU confirmed it would legislate for a Russian energy ban, and UK Allowances rose to their highest in more than 18 months amid continued speculative buying ahead of a key EU-UK summit.
- Registry update - The operator of the Russian registry of carbon units has developed and approved the procedure for making changes to information on climate projects and participants in the circulation of carbon units. More details here.
- 15:50 GMTGreensand lift-off - Construction has begun on Greensand's CO2 transit terminal at Port Esbjerg in Denmark, it announced in a release Tuesday. Touted as 'the first gateway for carbon storage in the EU', the terminal will have six large holding tanks, each able to store about 1,000 tonnes of liquefied CO₂ to be shipped for permanent storage in the Greensand reservoir. It will also include the necessary infrastructure for offloading and shipping CO₂. Construction is expected to complete this autumn, at which point Ineos Energy will take over operations on behalf of the Greensand consortium. Greensand has secured liquefied CO2 from several Danish biogas plants, which will ultimately be stored in sub-surface reservoirs by way of the Greensand terminal. Offshore injection is expected end of this year or early next.
- 15:41 GMTEuropean lawmakers agreed on Tuesday to use the urgent procedure for a targeted change to CO2 emission performance standards for new cars and vans, adding the item to the voting list for May 8.
- Expanded cover - France's Label Bas Carbone is expanding its forest cover with a newly approved method titled 'continuous stock forest management'. This method applies to forestry projects lasting 20 years and located in metropolitan France, with the aim of sustainably maintaining forest carbon sinks made up of harvestable woodland. It only applies to mixed coppice-high forests, regularised or irregular high forests with a majority of broadleaf trees, irregular high forests with a majority of conifers, and mixed high forests.
- 15:22 GMTPeatlands for oil - The Democratic Republic of Congo (DRC) has greenlit the opening of 52 new oil blocks in the Cuvette Centrale peatlands – the world’s largest terrestrial carbon sink and a critical ecosystem for biodiversity. The move has sparked outrage from environmental and human rights campaigners for its lack of transparency and risk it poses to the country's forests, with fears that key conservation areas may fall within the new concessions. Concerns are also growing about crossover between the new blocks and recently created Green Corridor, set up by the DRC government as proof of its role in the climate change fight. Yet expansion of oil exploration into the peatlands risks derailing the country's credibility on climate and conservation on the global stage. (Rainforest Foundation UK)
- 15:17 GMTICE launched its EU ETS2 futures on Tuesday, with the nearest Dec-28 contract seeing trade at €73.57/tonne on thin volume, much higher than official reference prices for the scheme.
- Sylvera will now offer project developers access to pre-issuance assessments for carbon credits in a bid to raise supply-side integrity in the market, the carbon ratings agency and data provider revealed exclusively to Carbon Pulse.
- 13:26 GMTA Munich-based nature tech firm has launched a two-year initiative aimed at advancing biodiversity monitoring in agricultural areas in Germany, in a bid to reward farmers who implement nature conservation and restoration activities on their lands.
- 13:10 GMTCORSIA take-off is still stymied by uncertainty about supply, as well as a long haul until the compliance deadline, experts told a webinar on Tuesday.
- The EU must recognise technological removals in its emissions trading scheme and prioritise biogenic CO2 in infrastructure in order to achieve its 2040 emissions reduction goal, according to an industry body.
- 11:42 GMTSeagrass loss worldwide could lead to the release of nearly 1.2 billion tonnes of CO2 over the next 25 years, with estimated costs of more than $200 bln, according to a paper released on Tuesday.
- Maximising the value of forests as assets able to generate numerous revenue streams, from carbon credits to timber, can revitalise the voluntary market, provided developers ensure projects deliver real climate impact, according to a study published Tuesday.
- 10:57 GMTFrance-based asset manager Mirova has launched an engagement campaign on biodiversity disclosures targeting up to 20 European companies in an initiative it hopes to scale up over time.
- 10:47 GMTMoldova has submitted its new Nationally Determined Contribution (NDC) to the Paris Agreement, outlining an economy-wide 75% emissions reduction target by 2035, compared to 1990, while marginally raising the ambition of its 2030 goals.
- 10:00 GMTGlobal food companies progress on emissions disclosure, but fail to quantify climate targets -reportAn analysis of 50 multinational food companies with over $1 billion in North American revenues found that a majority of them have disclosed Scope 3 emissions but have failed to quantify emissions reductions targets.
- 09:50 GMTUniper has said it plans to build 2 GW of new gas capacity in Germany as it saw its coal-fired generation covered under European compliance carbon schemes halve in Q1 2025, compared to one year prior.
- 09:48 GMTCountries will once again come under pressure to strengthen and widen the scope of the national pledges to the Paris Agreement, as around 30 ministers and leaders gather for the Copenhagen Climate Ministerial on Wednesday and Thursday.
- Microsoft has boosted its agreement to purchase carbon removals from a Swedish energy provider and carbon removal developer, raising the volume of procured credits by over 50% to around 5 million, compared to the initial deal signed last year.
- 08:21 GMTGermany has notified the European Commission of its intent to cancel around 500,000 EUAs linked to the closure of coal-fired power plants in 2022, in a bid to ensure that its phaseout of the polluting fuel source delivers genuine climate benefits.
- 08:01 GMTSingapore on Tuesday inked an implementation agreement with Rwanda under Article 6 of the Paris Agreement, adding the East African nation to a string of potential suppliers of carbon credits to its domestic market.
- A carbon utilisation firm has partnered with a technology provider to launch a commercial CO2-curing solution for precast concrete production, the two companies announced Tuesday.
- 06:01 GMTVoluntary carbon standard Verra has unveiled a new methodology that will credit the early retirement of coal plants that are replaced with clean energy sources.
- 04:33 GMTIndia and the UK have reached a trade deal after three years of negotiations, with no current exemption in the agreement for the South Asian country from Britain's planned carbon border adjustment mechanism, although talks on this are reportedly set to continue.
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