Announcing Carbon Forward Middle East – more details below.

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FUTURE INVESTMENT INITIATIVE 2024

FII24: Saudi Arabia to launch compliance carbon market within three years, close behind voluntary market -minister

Saudi Arabia is looking to launch a national compliance carbon market in the next two to three years, the country’s energy minister revealed on Tuesday at the annual event dubbed ‘Davos in the Desert’.

FII24: “Massive” hydrogen company to launch in Saudi Arabia, with Europe a key target market

Saudi Arabia’s Public Investment Fund is set to launch a “massive” green hydrogen company, with European industry the key target market.

EMEA

European power prices to extend drop through 2030 as renewables capacity outpaces generation demand -analysts

European power prices continue to fall from their 2022 record highs and are poised to extend this weakness through the end of the decade, analysts predict.

Setback as EU gas industry rejects just transition deal with trade unions

European gas employers have rejected a draft agreement with trade unions to wind down the EU’s industry, highlighting the difficulties in managing the social aspects of the green transition.

Europe continues to invest in gas grids, despite net-zero targets -study

There is a “significant disconnect” between gas infrastructure planning in Austria, Belgium, Germany, Italy and the UK, and what’s required to achieve their net-zero climate goals, according to research published on Wednesday.

Iceland proposes mileage tax on fossil fuel vehicles, doubles carbon tax

Iceland’s Ministry of Finance and Economic Affairs submitted a bill to parliament last week proposing a new mileage tax on fossil fuel-powered vehicles.

INTERVIEW: Oil and gas player taps geothermal to decarbonise UK heating

The geothermal energy deep beneath UK soil offers a huge, untapped opportunity to decarbonise the country’s heating, according to an oil and gas company developing opportunities in the sector.

EU fishing policy limits on vessel weight and power are no hindrance to low-carbon transition -report

Limits on vessel weight and power under the EU’s Common Fisheries Policy (CFP) pose no obstacle to transitioning the EU fishing fleet to energy-efficient and low-carbon propulsion technologies, according to a new report by a non-profit.

Euro Markets: EUAs climb as much as 2% to test significant technical resistance before late slide

European carbon prices resumed the recovery that began late last week, erasing Monday’s loss and surpassing Thursday and Friday’s intraday peaks to set a new eight-week high, as buyers returned to the market and pushed prices close to technical resistance levels, before a late dip amid renewed selling.

Spanish farming association launches carbon credit project for swine sector

A Spanish agricultural organisation has launched a project aimed at generating carbon credits from the livestock sector, targeting pollution reduction and emissions control in pig farming.

ASIA PACIFIC

BRIEFING: Vietnam looks at Korea, EU examples for international carbon offsets

Vietnam is finalising the details of a decree outlining how emitters will be allowed to meet 10% of their greenhouse gas reduction obligation with foreign offsets and is looking to South Korea and the EU as examples, officials said Tuesday.

Australian opposition refuses to be drawn on Safeguard Mechanism questions

Australia’s opposition climate spokesperson has refused to say whether a future Coalition government would support the reformed Safeguard Mechanism, as the lack of certainty continues to be a headache for investors and emitters, according to conference attendants.

Australia’s clean finance arm details first spend on forest project, plans to earn ACCUs

Australia’s Clean Energy Financing Corporation (CEFC) has for the first time invested A$75 million ($49.2 mln) in the forestry sector, according to the group’s annual report published this week, which details tens of billions of dollars of clean investments.

Carbon ratings agency teams up with Australian offset trading platform provider Trovio

A carbon ratings agency is partnering with Australian technology provider Trovio to make offset project grades accessible for risk and inventory management purposes.

China’s new economic stimulus policy adds uncertainty to emissions outlook

New economic stimulus measures to prop up household consumption could bring greater uncertainty to China’s emissions outlook, even though the country’s annual emissions may fall this year thanks to the massive additions of renewables, analysts said.

Taiwan adds two methodologies to encourage forest and bamboo management

Taiwan has given the green light to two new offset methodologies for nature-based projects, which can create carbon credits from forest and bamboo management activities.

AMERICAS

New York fiscal watchdog says NYCI design falls short, potential economic impacts $12 bln/yr by 2030

A state civil non-profit found New York’s proposed cap-and-invest programme, or ‘NYCI’, lacked sufficient analysis of potential fiscal and economic impacts of up to $12 billion per year by 2030, recommending a more robust, publicly available assessment and recalibration of the emissions reduction goal.

Quebec’s free carbon allocation declines slightly in 2023

Quebec distributed the remainder of its 2023 free carbon market permits, bringing the annual total slightly down from 2022 volumes as the number of recipients remained unchanged, data released by the province’s environment ministry showed.

INTERNATIONAL

BP’s faith in oil and gas hits snag in third quarter

BP’s pivot away from the green revolution hit a snag Tuesday after the oil major reported its weakest quarterly earnings since the fourth quarter of 2020, when industry profits cratered during the coronavirus epidemic.

Warming will worsen global economic divide by disrupting forest ecosystems, researchers warn

Rising global temperatures are likely to increase inequalities between wealthy and low-income nations by exacerbating disruptions in the carbon and nitrogen cycles of the world’s forests, placing critical ecosystem services and economic assets in jeopardy, a new study has warned.

VOLUNTARY

Asset manager launches carbon removal fund to help institutional investors tap in

A London-based asset manager is launching a carbon removal fund to give institutional investors access to solutions that can deliver investment returns and help them reach net zero emissions, it announced on Tuesday.

E-commerce giant partners with battery startup to boost solar storage

Global online retail firm Amazon has partnered with a Swiss battery startup to trial a new battery technology to address the limitations of solar energy storage in 24/7 operations, the two companies announced on Tuesday.

Environmental data company teams up with MRV tech firm to enhance data product

An environmental data software firm has partnered with a digital monitoring, reporting, and verification (dMRV) company to enhance their forest carbon data, the companies announced on Tuesday.

Demographics shape global support for tech-based climate interventions -study

Public support for climate interventions varies significantly by demographics, with younger people and those in poverty more supportive of engineered approaches to mitigation compared to older or wealthier groups, a new study reveals.

COP16 (FREE TO READ)

All our nature and biodiversity articles remain free to read (no subscription required). However, as of Oct. 24 we will 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.

Verra unveils nature framework, plans to list first biodiversity credits in April

Carbon crediting standard Verra on Tuesday officially unveiled its long-awaited nature framework for the voluntary biodiversity credit market, expecting to register the first batch of projects from April next year.

ANALYSIS – Who wants to talk about debt?

A spat on sovereign debt reform threatens to overheat talks at the ongoing UN biodiversity summit in Cali, as the UK and China have so far strongly opposed calls to address the issue in the final agreement, with potentially grave consequences on developing countries’ ability to effectively tackle the biodiversity crisis, according to experts.

Governments pledge $165 mln to GBF Fund

Eight governments on Monday pledged a total $163 million in new funding for the Global Biodiversity Framework Fund (GBFF), taking the total amount committed to the fund to just below $400 mln, less than 2% of what developed nations have promised to contribute by the end of next year.

Brazil launches revised national plan to restore 12 mln hectares by 2030

The Brazilian government launched Monday a revised national plan for the recovery of native vegetation that reaffirms the country’s commitment to restore 12 million hectares by 2030.

EIB, WWF to provide early-stage funding for nature-based solutions

The European Investment Bank (EIB) and the WWF on Tuesday announced they will collaborate to mobilise early-stage funding for projects to help adapt to climate change and stave off the biodiversity crisis.

Electricity company announces Colombian biodiversity credit project

A Colombian energy transmission company has announced its support for a small voluntary biodiversity credit project in Colombia with the aim of helping open up a market.

BIODIVERSITY (FREE TO READ)

All our nature and biodiversity articles remain free to read (no subscription required). However, as of Oct. 24 we will 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.

Finland to be first EU nation to set up voluntary biodiversity credit framework

Finland has become the first EU member state to announce plans to develop a framework for companies to invest in voluntary biodiversity credits that go beyond existing environmental offsetting provisions, in a bid to encourage companies to take nature action.

Biodiversity credit company announces data partnership

A biodiversity credit project developer and a data provider have announced a partnership with the aim of scaling projects in countries across Africa, South America, and Europe, Carbon Pulse has learned.

ADB issues first biodiversity, nature bond

The Asian Development Bank (ADB) on Tuesday announced it has issued its first biodiversity and nature bond, with the 10-year issue being purchased by Japanese life insurance company Dai-ichi.

Biodiversity Pulse: Tuesday October 29, 2024

A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).

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EVENTS

*NEW* 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.

Supercritical Webinar – Defining Biochar Quality – Nov. 5, 0900 EST (1400 GMT) – Essential insights for an impact-driven carbon removal strategy. Join Supercritical and panelists from Puro.earth, Isometric, and Exomad Green for this expert-led webinar. In the rapidly evolving landscape of carbon removal, biochar stands out as a method with immense potential. But not all biochar is created equal, and the lack of standardisation makes understanding quality critical for companies committed to having real climate impact. In this webinar, you’ll learn from industry leaders about the characteristics that set superior biochar apart, the tools and methodologies for quality assessment, and emerging trends shaping the future of biochar. Register

Calyx Webinar – How to buy high-quality carbon credits – Nov. 6, 1100 EST (1600 GMT): Buying quality carbon credits in today’s carbon market can feel like an obstacle course full of hurdles and roadblocks, but despite challenges, many sustainability leaders have done this successfully. We gathered experienced carbon market participants from across industries to share their processes, advice and secrets to success. If you’re purchasing carbon credits in the next six months, this is a discussion you won’t want to miss. Register here. If you register but cannot attend live, you will receive an on-demand recording after the webinar.

cCarbon’s Canada Clean Fuels and Carbon Markets Summit 2024 – Nov. 7, Toronto: Canada’s clean fuels and carbon markets face significant uncertainty as policy, regulatory, and market dynamics evolve. To provide clarity, cCarbon is hosting modeling-driven Canada Clean Fuels and Carbon Markets Summit in Toronto for businesses and investors navigating this landscape. The event will begin with a plenary session focused on policy, followed by two specialized tracks exploring clean fuels and carbon markets in depth. With over 40 experts sharing insights and nearly 200 business leaders and regulators in attendance, this summit offers an exceptional networking and learning opportunity for anyone interested in Canadian energy and environmental markets! Find out more

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Premium job listings

• *Chief Commercial Officer, CarbonPool – Zurich
• *Business Development, Carbon Markets (Market Intelligence), RepuTex Energy – Melbourne

See all listings or post a job

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BITE-SIZED UPDATES FROM AROUND THE WORLD

INTERNATIONAL

Tariff terrors – New research from the Grantham Research Institute at the London School of Economics has analysed the economic impacts of proposed tariffs by US presidential candidate Donald Trump, revealing significant potential harms to both the American and global economies. The study highlights that Trump’s proposed 100% tariff on imported vehicles and other tariffs could reduce US GDP by 0.64%, with further economic contractions in China (0.68%) and the EU (0.11%). Trump’s plan to impose a universal 10% import tariff, a targeted 60% tariff on Chinese goods, and a 100% tariff on imported cars could hinder the affordability and adoption of electric vehicles in the US, as imported EVs make up roughly 30% of the market. European economies, particularly Germany’s automobile industry, could face severe repercussions, while China would bear the brunt of the tariffs, with a notable GDP drop. The study advises the EU against retaliating through its carbon border adjustment mechanism (CBAM), as it could undermine its climate goals and prompt a damaging trade war. Instead, the EU and China are recommended to take measured responses, protecting vulnerable sectors like Germany’s car industry through targeted subsidies, tax relief, and export support. The authors caution that escalating tariffs could lead to a detrimental global trade conflict, impacting consumers and economies worldwide.

Marine CDR crack-down – An IMO meeting underway this week could lead to important developments for the international governance of marine carbon removal, according to experts at Columbia University’s Sabine Center for Climate Change Law. Countries that are party to the London Convention and London Protocol on the prevention of marine pollution are due to consider a resolution that would urge them to voluntarily regulate projects for storing carbon in the ocean, such as enhancing ocean alkalinity or sinking biomass like seaweed. If the resolution passes, countries will agree to make sure that such activities are part of “legitimate scientific research” and to defer or not allow their deployment. At the start of the week-long meeting it was unclear if the resolution would pass, since much of the wording was still in square brackets, the experts said. It would not be binding, but could impact the way countries regulate their marine CDR.

Far off target – Decisive action is needed to achieve net zero by 2050, as the world is currently on track for 2.5C to 3C of global warming, according to Wood Mackenzie’s Energy Transition Outlook. Some $78 trillion of cumulative investment is required across power supply, grid infrastructure, critical minerals, and emerging technologies and upstream to meet Paris Agreement goals, the analysts found. While renewables capacity grows two-fold by 2030 in their base case, it falls short of the global pledge made at COP28 to triple renewables by 2030. They project oil and gas to continue playing a role in the global energy system to 2050, and for innovation to improve the commerciality of carbon capture and low-carbon hydrogen and derivatives, driving uptake to 6 Btpa and 0.45 Btpa by 2050. Policy certainty is crucial to helping unlock demand for new technologies and increases capital flow into all segments, including supply chains and critical minerals, they wrote. “A price on carbon is maybe the most effective way to drive emissions reduction but it’s hard to see it coming together in a polarised environment,” said Prakash Sharma, vice president, head of scenarios and technologies for Wood Mackenzie.

Forest friends – On Monday at the UN biodiversity summit in Cali, Colombia, five countries – Germany, Colombia, the UAE, Malaysia, and Norway – expressed their support for the Tropical Forest Forever Fund, a global instrument proposed at COP28 in Dubai last year aimed at mobilising $250 bln to protect standing tropical forests in up to 80 countries. The ministers reinforced their commitment to continue the joint work to define the architecture of the mechanism, which will be launched at COP30 in Nov. 2025 in Belem. The facility seeks to mobilise the cash from existing resources as part of sovereign wealth funds and deploy them to pay for conserved tropical forests around the world. The initiative will make payments for each hectare of standing vegetation, with penalties for each hectare deforested or degraded, and will guarantee additional resources for the protection of biodiversity, traditional territories, and the maintenance of environmental services. Brazil’s environmental minister, Marina Silva, said the proposal is not intended to compete with other financing methods, such as carbon or biodiversity credits, but is instead intending to complement them.

Fake influencers – Scores of apparently fake social media accounts are boosting Azerbaijan’s hosting of the Cop29 climate summit, an investigation by Global Witness has revealed. The accounts were mostly set up after July, at which time seven of the top 10 most engaged posts using the hashtags #COP29 and #COP29Azerbaijan were critical of Azerbaijan’s role in the conflict with Armenia, using hashtags such as #stopgreenwashgenocide. By September this had changed, with all of the top 10 most engaged posts coming from the official Cop29 Azerbaijan account. The researchers said artificially inflating the reach of government posts was drowning out independent criticism of the country’s record on the climate crisis and repression of human rights. (The Guardian).

EMEA

Dutch horticulture ETS2 opt-out – The Dutch Parliament voted on Tuesday in favour of a motion seeking to prevent the horticulture sector from being included in the EU ETS for road transport, heating fuels, and small emitters (ETS2), reports Horti Daily. In June this year, the Dutch government filed a request with the European Commission to unilaterally extend the ETS2 to fuels burnt by vehicles on farmland as well as those used in agriculture, forestry, and fishing – but “excluding stationary combustion in horticultural greenhouses”. The EU Commission gave its green light to the Dutch request in September, including the exemption for the horticulture sector. The Dutch Parliament on Monday voted to confirm this, arguing that the opt-in is not necessary to meet the emission targets for greenhouse horticulture (4.3 megatonnes in 2030). The Dutch cabinet is expected to make a final decision on its ETS2 opt-in decision in the spring of 2025.

South Africa solar spat – Renergen, a South African energy company, has expressed concerns about the ongoing construction of a solar project in an area that was designated for natural gas extraction, saying the developer had started work without seeking its prior consent. In a statement, Renergen said it will seek an “amicable co-existence agreement” with project developer Springbok Solar with a view to protect its “legal right to access gas bearing structures” in the area. In reply, Springbok Solar said it “has obtained all necessary lawful authorisations to begin construction of its facility,” pointing out that Renergen did not express any objections until several months into construction. (Moneyweb).

Climate cemetery – The unprecedented temperatures in the summer of 2022 caused more than 68,000 deaths on the continent, according to a study by the Barcelona Institute for Global Health published in the journal npj Climate and Atmospheric Science. More than half – 56% – of the heat-related deaths in the summer of 2022 were related to human-induced climate change. According to the research, 38,154 of the 68,593 heat-related deaths in the summer of 2022 would not have occurred without anthropogenic warming. The team found a higher number of heat-related deaths attributed to climate change among women and people aged 80 years or more.

ASIA PACIFIC

Regional revitalisation – Tokyo Gas and Ashikaga Bank have signed an agreement with 11 towns in Japan’s Tochigi Prefecture to decarbonise road stations and other facilities, they announced Tuesday. The partnership aims to introduce renewable energy and utilise forests and rice fields to create environmental values like domestically issued J-Credits.

Low-carbon transport – Seoul-based project developer Hooxi Partners has teamed up with LS E-LINK, which promotes electric vehicle charging solutions, to implement voluntary emissions reduction projects, the companies announced Tuesday. Their carbon business will initially target around 250 transportation companies and 3,200 electric vehicles in South Korea, according to a statement.

Partnerships – The government of South Korea’s Jeju Island is set to sign agreements with 24 climate tech companies at a forum on Wednesday, as the regional government aims to promote a voluntary carbon market, according to Yonhap. Through the partnerships, the government said it would work to improve climate technologies and build a system to establish a voluntary market.

Latest financial results – India’s leading carbon credit developer and supplier EKI Energy Services has posted a net profit of INR 4.22 crore in the quarter ending September, a major turnaround from a Rs 43.47 crore loss in the same period last fiscal year, the Press Trust of India (PTI) reported. “Despite volatility in the carbon markets and unpredictable policy updates, we are strategically positioned to weather the turbulence,” company chairman Manish Dabkara said. Power trading, a new venture for EKI, generated INR 95.09 crore in revenue during the quarter, according to company filings.

AMERICAS

Cleaning up the ports – The Biden administration announced that it had chosen 55 applicants across 27 states to receive a combined $3 bln through the EPA’s Clean Ports program. The programme, originally announced in February and funded by the Inflation Reduction Act, aims to reduce diesel pollution from US ports by decarbonising port and freight equipment, like trucks, locomotives, marine vessels, and cargo-handling equipment. The award is divided into two categories – those that receive funding for zero-emission technology deployment, and those that receive funding for climate and air quality planning. Ports that will receive funding for zero-emission technology include those in New York and New Jersey, Detroit, Georgia, Philadelphia, and Oakland. And those that will receive funding for climate and air quality improvements include ports in Houston, Puerto Rico, and Washington.

DOE issues RFI for DAC – The US Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management is looking for advice on how the department can better help direct air capture (DAC) technologies attract more investments. On Tuesday, the department announced that it had issued a request for information to collect input on how current and future DOE programs could better help DAC technology developers “address challenges in raising project investment capital and achieving sustained facility operations”, the announcement said. The information will immediately help the department’s Regional Direct Air Capture Hubs program, which aims to develop four DAC hubs across the US.

DAC stack – A growing number of global technology companies are collaborating with the DOE’s National Energy Technology Laboratory (NETL) to advance direct air capture (DAC) technology, the lab said Tuesday. DAC, which removes CO₂ directly from the atmosphere, is pivotal in tackling hard-to-decarbonise sectors like agriculture, shipping, and aviation and is essential for the US to meet its 2050 net-zero emissions target. NETL’s DAC Center serves as a testing ground where partners, with support from programmes like the American-Made Direct Air Capture Prize, can advance DAC technologies towards commercialisation. Current partners include New York-based Nuxsen, which is testing sorbent-based CO₂ capture technologies, and Rhoic, which focuses on cost-effective DAC materials. Additionally, Kenyan company Octavia Carbon is developing a low-temperature sorbent to leverage Kenya’s geothermal energy and potentially use the Rift Valley for CO₂ storage. As part of its mission, NETL supports innovation in carbon management to drive environmentally sustainable energy solutions, aiming for broader adoption of DAC technologies.

More Moe – The Saskatchewan Party won its fifth straight majority government, with leader Scott Moe now entering his second year as premier. The party lost 12 of its seats, bolstering the opposition NDP to a total of 26 seats against the majority’s 35. Moe is staunchly opposed to the federal backstop carbon price on fuel and refused to remit the fee to the federal government in February. However, he has largely been silent regarding the province’s industrial carbon pricing programme, which was initiated in 2019 but has received criticism from the provincial auditor for its leniency towards polluters who have surpassed their emissions limits and that no funds have been allocated towards emissions-reductions technologies. Moe has also expressed vocal opposition against the Clean Electricity Regulations, which look to mobilise the country’s electricity grid to hit net zero by 2035.

More Eby – BC NDP Premier David Eby was asked by the Lieutenant Governor to form the next government, CBC reported Tuesday, following a recount of the provincial election, which was too close to call last week. The recount concluded that the NDP has been elected in 47 ridings, the Conservatives in 44, and the Greens in two. This marks the third consecutive NDP government in BC, but is also historic for the Conservative party, which received less than 2% of the vote in the province just four years ago. Eby vowed to scrap the provincial consumer-facing carbon levy but would only do so should the federal government first remove the requirement. The NDP supports development of LNG for export, maintaining that it will displace higher-emissions coal-fired electricity in the Asia-Pacific. Fossil fuel project developers have purported low emissions claims and ambitions towards net-zero, largely via abundant access to hydroelectricity in the province. Export facility LNG Canada in Kitimat – backed by Shell, Petronas, and PetroChina, among others – is expected to be operational by mid-2025, while at least three other facilities remain in the construction pipeline for operations in 2028.

More Smith – Alberta has applied for a judicial review of the federal government’s exemption of the carbon price on home heating oil, CBC reported Tuesday. Justice Minister Mickey Amery said it took one year for the province to assemble its legal argument and expects another year to work its way through court. Premier Danielle Smith said it’s unfair to Albertans who rely on natural gas to heat their homes, bolstering a long-standing spat between the province and the federal government, since Prime Minister Justin Trudeau announced the three-year pause on home heating oil in a measure directed towards Atlantic Canada in Oct. 2023.

Get planting – The Canadian Tree Nursery Association (CTNA) warns that Canada must plant billions of new seedlings to address massive forest losses from wildfires in 2023 and 2024. Planting 5.3 bln seedlings would restore just 15% of the forests burned in these years, according to new CTNA data. The association highlights that producing seedlings for restoration requires 2-4 years of planning and significant investment in workforce and infrastructure. The 2023 wildfire season was record-breaking, with 2024 expected to follow closely. Funding cuts, such as BC’s plan to plant 58 mln fewer trees in 2025, are said to exacerbate the situation. The CTNA contends that the federal government’s 2 Billion Trees (2BT) initiative, set in 2020, is insufficient for the scale of current forest loss. They advocate expanding the 2BT programme beyond 2031, increasing restoration funding, addressing nursery labour shortages, and ensuring trees are planted strategically with a mix of scientific and traditional knowledge. The CTNA calls for immediate action from government and stakeholders to rebuild forests, bolster rural economies, and strengthen environmental resilience. (Wood Business)

Facility upgrade – Renewable energy producer Western Plains Energy upgraded its bioethanol production facility with a fully integrated membrane dehydration system developed by technology developer Whitefox, helping reduce the plant’s carbon intensity score by over 10%. Implementation of the technology, known as Whitefox ICE XL, will support Western Plains’ goal to achieve 50% reduction in natural gas and steam usage, 25% increase in production capacity, and a reduction in operational costs. This project is the first ICE XL project in the US, but Whitefox’s 18th project, with a further six in construction.

VOLUNTARY

GRO the business – A Dubai-based nature-based blockchain platform is set to market its first credits after linking with the International Carbon Registry (ICR). Carbonmark has announced a strategic partnership with the GRO Foundation, which plans to plant 1 billion trees by 2030, focussing on afforestation projects in Uganda, and implemented under CDM-methodology AR-ACM0003 and ISO-14064 standards. “Our collaboration with Carbonmark is a game-changer for GRO,” said Paul Flynn, Founder and Trustee at GRO Foundation. “With Carbonmark’s advanced platform, we can accelerate the trade of carbon credits while ensuring the communities we work with benefit directly from these projects. Together, we’re creating a model for how nature-based solutions and innovative finance can drive environmental and social impact.” The collaboration is set to streamline the trade of ex-ante carbon credits from GRO’s projects in Uganda.

Building-level footprint – One Click LCA, a sustainability platform for construction and manufacturing, has launched the Materials Compass, which gives designers and engineers the ability to assess the environmental impact of more than 250,000 construction products. The construction lifecycle database helps construction industry professionals make more data-driven decisions throughout the design and construction process, to select lower-carbon materials, and ultimately to reduce carbon emissions from construction projects. Carbon emissions can be over one-third lower if people select the lowest-carbon materials compared to the highest-carbon choices available, said One Click LCA in the press release Tuesday. Almost 90% of construction industry professionals say the lack of environmental product declarations (EPDs) is the most limiting factor for lifecycle assessments and embodied carbon reduction, so one of Materials Compass’s key benefits is that it provides a complete overview of all global EPDs for construction materials on the platform, the release said. Buildings are responsible for 39% of global energy-related carbon emissions, with 11% from materials and construction.

NBS pilot – Gold Standard is looking for up to six nature-based projects to take part in the pilot programme trialling its draft labelling requirements for nature-based solutions (NBS), it said in a blog post last week. The standard-setter will carry out a two-year pilot programme of its draft NBS labelling requirements, which will allow it to evaluate the feasibility and scalability of NBS certification for projects tackling environmental and societal challenges. Applicants must show inclusive stakeholder engagement and ensure no ecosystem degradation. The certification process involves validation and verification by accredited VVBs. Insights from this phase will help to inform the final version. The pilot phase of the NBS labelling requirements will run for two years, over a one-year period for the projects, to provide a real-world test, Gold Standard said. Interested project developers must follow the application procedures, including signing agreements and undergoing interviews to demonstrate project alignment with the pilot criteria. This pilot programme serves as a testing ground to refine the NBS Labelling Requirements for broader certification under the Gold Standard for the Global Goals (GS4GG).

SCIENCE & TECH

Climate confidential – NATO has accused Russia of withholding crucial Arctic climate data, essential for accurate climate modelling, as part of a broader misinformation strategy against the West, the FT reports. Russia, which halted sharing key data following its invasion of Ukraine in 2022, has reportedly “paused” 21 of its 95 Arctic field bases that gather climate data. NATO officials warn that without this data, climate modelling used to guide emission reduction and policy decisions will be less effective. The Arctic, warming at over three times the global average, has significant geopolitical and environmental implications. Russia’s investments in icebreakers and frigates aim to exploit new naval routes emerging from melting Arctic ice, especially near its nuclear assets on the Kola Peninsula. NATO cautions that unchecked Arctic warming could increase vulnerabilities for the alliance. This development occurs as nations prepare for the COP29 climate summit, with NATO and other Western nations accusing Russia of obstructing international climate efforts, particularly around fossil fuel phaseout. WMO head Celeste Saulo confirmed that Russia is selectively sharing data, citing geopolitical tensions as a barrier to full cooperation.

Beam me up – Startup SpiralWave has developed a cold plasma technology capable of capturing CO2 and transforming it into methanol. The device uses three specific microwave pulses targeting different molecular bonds, breaking CO₂ and H₂O down and reassembling them into methanol. Methanol, a versatile hydrocarbon, can be burned, refined, or used in various industries. The device’s efficiency equates to 75-90% of electrical energy converted into chemical energy, outperforming other CO₂-to-methanol methods. SpiralWave’s prototypes range from a knee-high nanobeam to the larger microbeam. A gigabeam is also planned, capable of removing one bln tonnes of CO₂ annually. To scale production, the team aims to replicate smaller devices, housing them in shipping containers for easier deployment. With $1 mln in backing from IndieBio, the founders are optimistic, envisioning a future where ten 20-foot containers could form the world’s largest e-methanol plant. (TechCrunch)

Clean it up – Carbon Clean has unveiled the CycloneCC C1 series, a compact, modular carbon capture solution designed to reduce CO₂ emissions by up to 100,000 tonnes per year. This penultimate commercialisation stage uses innovative rotating packed bed (RPB) technology, which eliminates traditional columns, shrinking the unit’s height by 70% and its footprint by 50%, with steel use cut by 35%. Prefabricated and easily transportable, CycloneCC C1 lowers installation costs by up to 50%. With a modular “plug and play” design, Carbon Clean said CycloneCC C1 is ideal for space-constrained industrial emitters and can be scaled across multiple emissions sources. The CycloneCC C1 incorporates Carbon Clean’s APBS-CDRMax solvent, which enhances CO₂ absorption, reduces energy demands, and has a longer operational lifespan than standard solvents. Early adopters gain priority access to the final commercial version and early decarbonisation benefits, aiming to aid hard-to-abate industries in meeting 2030 emissions targets.

AND FINALLY…

Nike (Hot) Air – Nike’s carbon offset project, originating from the removal of sulfur hexafluoride (SF6) from its Air shoes, has resurfaced in the carbon market, Bloomberg reports, highlighting weaknesses in the carbon credit system. SF6, a potent greenhouse gas, was eliminated by Nike in 2006, but not due to carbon payments. The company initially aimed to avoid regulatory backlash. Despite this, Nike received nearly 8 mln offsets, now sitting in ACR’s buffer pool, which serves as an insurance reserve for projects that fail. However, reliance on such pools is under scrutiny as climate change intensifies forest fires and other disruptions, risking the integrity of stored credits. Recent fires have already pushed several projects close to exhausting their allocated buffers. Additionally, carbon offset projects like Brazilian wind farms, whose emissions reductions likely would have occurred regardless, contribute to these buffers, raising questions about the “additionality” standard that legitimises carbon credits. Critics argue that for carbon credits to be effective, stricter standards around permanence and transparency are needed.

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