UK will need to subsidise carbon removal prices to bring them down to ETS levels -research
The UK government will need to subsidise a fixed price for carbon removal credits when it integrates them into the country’s Emissions Trading Scheme (ETS), at a cost of around £147 million per year, and more in the future, according to new research.
Read MoreVCM REPORT: CORSIA prices steady after months-long slide as market searches for floor
CORSIA futures stabilised after months of price declines, with benchmark contracts on ICE holding around the $10 per tonne mark last week as selling pressure appears to be easing, as participants appeared to have found on a floor amid demand uncertainty.
Read MoreForests and climate set to suffer under countries’ bioenergy reliance, warns coalition
Countries are relying too heavily on bioenergy to reduce carbon emissions in their national Paris Agreement pledges, which spells bad news for forests and climate as huge swathes of land are eaten up for growing biomass, according to environmental and social justice groups.
Read MoreLarge-scale carbon removal could save trillions in climate damages, but at cost of forgone health benefits -study
Large-scale deployment of CO2 removal technologies could substantially reduce the cost of reaching net zero emissions in the US and generate trillions of dollars in revenues for project developers, but may also lead to worse air quality outcomes than pathways that rely more heavily on direct emissions cuts, according to a new study.
Read MoreIndonesian palm oil firm prepares to launch biochar pilot
An Indonesian palm oil company plans to present a biochar pilot this week that aims to convert palm biomass residues into carbon removals.
Read MoreUS bank signs second carbon removal deal with bio-oil developer
A large US bank has signed its second carbon removal offtake deal with a developer of bio-oil projects, bringing its total commitment with the company to 90,000 tonnes.
Read MoreEU set to integrate carbon removals into national climate goals for the first time
Member states will for the first time be able to use EU-certified permanent carbon removal credits to meet their national climate targets for agriculture, forestry, and other non-ETS sectors under proposals due to be presented later this year, a senior official has said.
Read MoreUK waste wood BECCS project files planning application
A UK energy-from-waste wood company has submitted a planning application to add carbon capture technology to an existing bioenergy plant, it announced last week.
Read MoreFederal, policy roadmap shows US incentives needed to unlock 1 mln tonnes mCDR
Flagging waning federal investment in marine carbon removal (mCDR), a non-profit published a roadmap on Monday with policy and regulatory changes the US needs to implement to advance to the million-tonne scale of deployment.
Read MoreCarbon removal registry seeks to certify credits under EU’s CRCF
A major carbon removal (CDR) registry will evolve to issue three different classes of credits, it said Tuesday, after announcing plans to certify units under the EU’s Carbon Removals and Carbon Farming (CRCF) scheme.
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