UK halves subsidies for Drax biomass, puts BECCS support under review
The UK has halved subsidies for Drax’s biomass power station from 2027, and is putting under review future government support for bioenergy with carbon capture and storage – the technology Drax is counting on to decarbonise its electricity generation.
Read MoreDATA DIVE: UN postpones 2035 NDC deadline after few countries submit plans on time
The UN has pushed the deadline for the submission of new Nationally Determined Contributions (NDCs) to September, after just a handful of countries sent them in ahead of the initial date of Feb. 10.
Read MoreBRIEFING: Experts confident of strong CORSIA supply and demand, including from US
Carbon market participants are confident that there will be both strong supply and demand for CORSIA credits, including from US airlines, despite political developments this year that have cast uncertainty over international climate initiatives.
Read MoreMadagascar “enthusiastic” about Article 6, plans to develop national registry
Madagascar is keen to get involved with Article 6 of the Paris Agreement and is aiming to develop a national registry and standards to start generating credits, the country’s Designated National Authority (DNA) said on Thursday.
Read MoreVoluntary carbon market ratings agency launches new quality, pricing indices, says 2024 was “turning point” for credit integrity
The year 2024 was a “turning point” for integrity in the voluntary carbon market (VCM) and the prices that high-quality credits command, according to a new set of quality and pricing indices launched by a ratings agency and backed by a carbon market intelligence firm.
Read MoreVCM MONTHLY DATA: Millions of Shell retirements fail to stop January slump
Oil major Shell retired more than 5 million carbon credits in January across the major registries – but even with that contribution, total retirements for the month fell year-on-year.
Read MoreINTERVIEW: Carbon industry misinterpreting definition of ‘net zero’ emissions, says physicist
Carbon markets are misinterpreting how the target of “zero net emissions” should be reached, according to a physicist behind the concept, speaking to Carbon Pulse.
Read MoreVerra says safeguards requirements are improving, but more work needed
Standard-setter Verra said on Wednesday there is still work to be done to improve its requirements on safeguards in carbon projects, despite carrying out significant work in the area over the past year.
Read MoreWeaker gas influence on carbon, mild industrial recovery expected in Europe -analysts
The alignment of European carbon with natural gas could weaken in 2025, while speculators should support bullish EUA price development, according to an energy markets outlook published on Wednesday.
Read MoreINTERVIEW: 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.
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