Drax received nearly £1 bln in subsidies last year, as power generation hit new record
The UK’s largest power plant – the Drax biomass station – received a record of nearly £1 billion in subsidies last year, despite also being the country’s top emitter, according a think tank’s analysis.
Read MoreINTERVIEW: Patchy emissions data risks slowing global carbon trading, UN reviewer says
Inconsistent methodologies and uneven data for calculating national greenhouse gas inventories are emerging as a constraint for the development of international carbon markets, a UN technical expert warned.
Read MoreFEATURE: Nature-based carbon market sees sun rising for ARR
Afforestation, reforestation, and revegetation (ARR) projects have been enjoying a spell of popularity with experts suggesting demand for nature-based removal credits will likely climb higher, but, amid this week’s uncertainty over Microsoft’s future as a major buyer in the carbon removal (CDR) sector, it remains to be seen whether such predictions hold true.
Read MoreMicrosoft to “build on and support” existing carbon removal portfolio, denies end to credit buying
Microsoft will continue to support its existing portfolio of carbon removal projects, the company said Tuesday, which could mean an expansion of its credit buying in future, as the firm sought to clarify speculation that its procurement programme had been shut down.
Read MoreANALYSIS: Microsoft’s ‘pause’ in CDR buying is a stark wake-up call for the nascent sector
A reported pause to Microsoft’s carbon removal (CDR) purchasing programme exposes a major demand challenge for the nascent technology-based market, but also represents a “bittersweet” opportunity for the sector to mature, project developers and experts told Carbon Pulse.
Read MoreEight firms apply for biogenic CO2 capture aid under €90 mln Finnish scheme
Eight companies have applied for investment aid to develop biogenic carbon capture projects under a Finnish government scheme with a €90 million budget aimed at scaling early-stage carbon capture capacity.
Read MoreTop buyer Microsoft suspends carbon removal purchase programme -sources
Microsoft has suspended its carbon removal (CDR) buying programme, according to several sources, in a move that threatens to upend a nascent but fragile market heavily reliant on the tech giant’s demand.
Read MoreMajor bank inks agri carbon removal deal with US developer
A large bank has struck a carbon removal deal with a US-based developer in an agreement that also aims to reduce wildfire risk, it was announced Thursday.
Read MoreCDR project developers near commercial stage face funding crunch, survey finds
Carbon removal (CDR) project developers are nearing commercial readiness but remain constrained by limited access to capital, with nearly 60% at risk of delays, downsizing, or cancellation without near-term funding, according to a survey.
Read MoreNew CDR portfolio aims to simplify corporate buying for 2030 net zero targets
A new carbon removal (CDR) portfolio launched on Thursday aims to simplify how companies source credits for 2030 net zero targets by combining multiple high-durability pathways into a single offering.
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