WCI Markets: CCAs fluctuate on low volumes, WCAs continue to creep higher
California Carbon Allowance (CCA) prices fluctuated throughout the week, ending with minimal gains as traders await next week’s workshop on potential programme amendments, while Washington Carbon Allowance (WCA) values crawled higher amidst limited activity in the under-fire scheme.
Read MoreUS DOE invests $8 mln in industrial decarbonisation
The US Department of Energy (DOE) on Thursday unveiled $8 million in funding for 14 projects that convert CO2 emissions from industrial processes into useful products.
Read MoreArticle 6 torn between private sector and geopolitics ahead of ‘bridge’ COP29, UN advisor says
Negotiations on Article 6 of the Paris Agreement are expected to be influenced by the private sector and geopolitics, as parties prepare for a ‘bridge’ climate conference in Azerbaijan, a UN advisor said on Thursday at IETA’s annual European Climate Summit in Florence said.
Read MoreDrax firms up $600,000 offtake deal for BECCS credits in the US
UK energy firm Drax Group has made another step in becoming a US leader in carbon removals through bioenergy with carbon capture and storage (BECCS) after firming up a reported $600,000 deal with an environmental consultancy.
Read MoreEuro Markets: EUAs post 2.2% gain but prices flat for the week as gas-driven volatility dominates
EU carbon prices extended their volatile price action for a fourth day with a solid gain to stand almost unchanged for the week to date, after the market fluctuated in a near-€4 range following significant swings in natural gas prices as traders considered supply issues.
Read MoreUK farming set for rockier outlook as impacts of Brexit start to bite
Farms in England are set to see substantial falls in business income due to dwindling commodity prices, sharper subsidy cuts following Brexit, and increased competition from cheaper imports, while uptake of natural capital payment alternatives is still lacklustre, industry experts said on Thursday.
Read MoreEU removals methodologies not likely to certify units before 2027, frustrating experts
Carbon removal experts expressed frustration this week at news that the EU’s carbon removal methodologies will not yield carbon removal units with the bloc’s stamp of approval until likely 2027.
Read MoreBrazil must drive G20 efforts on international standards for biodiversity disclosures, non-profit says
Brazil should lead G20 efforts in developing globally recognised standards for nature-related disclosures, non-profit CDP has said, as the country considers mandating compliance with target 15 of the Kunming-Montreal Global Biodiversity Framework (GBF).
Read MoreANALYSIS: Voluntary carbon actors eye narrative change but demand still lacking
Voluntary carbon attendees at an industry event held in Florence this week struck an optimistic note in light of imminent market developments that are expected to boost demand, but multiple sources highlighted a lack of tangible impact so far, with buyers still said to be holding back on offset investment due to reputational risk.
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