UPDATE – BRIEFING: Experts warn of double, triple counting in California CDR
California’s accounting practices for emissions reductions and carbon removal claims have come under fire from experts, who point to loopholes opening the door to double and even triple counting.
Read MoreCzechia calls for CBAM changes to cut admin burdens
Czechia is pushing for a “detailed evaluation” of the EU’s Carbon Border Adjustment Mechanism (CBAM) as part of a review of the legislation due to take place before the end of 2025.
Read MoreUKAs surge on reports of British govt push for ETS linkage with EU
UK carbon prices rallied above £40 on Tuesday on reports describing a push from Prime Minister Keir Starmer’s government to link the British emissions trading market to that of the EU – a plan strongly supported by the Scottish government.
Read MoreEuropean capacity markets have funnelled over €50 bln to fossil fuels since 2015 -report
Capacity markets across Europe have allocated nearly €53 billion in public subsidies to fossil power plants since 2015, funded through a levy on energy bills aimed at ensuring the lights are kept on at all times, a new report published on Tuesday has revealed.
Read MoreCOMMENT: The Project Developer Forum’s voluntary carbon market aspirations for 2025
The voluntary carbon market (VCM) faced challenges in 2024 with low prices and limited activity, but key developments – such as advancements in standards, Article 6.4 of the Paris Agreement, and COP29 breakthroughs – set the stage for growth. The Project Developer Forum outlines its seven aspirations for 2025, focussing on improving credit integrity, policy alignment, corporate engagement, and market innovation to revitalise carbon offsetting and advance climate action.
Read MoreEgypt lays out afforestation plans in support of national initiative -media
Egypt’s ministry of environment on Sunday launched a guide in support of national afforestation goals that also include a mitigation component, local media reported.
Read MoreVCM Report: Market ticks along amid cookstoves, US political uncertainty
Indecision and uncertainty continued to plague the voluntary carbon market after news broke that the Integrity Council for the Voluntary Carbon Market (ICVCM) may not decide on which cookstoves methodologies will qualify for the Core Carbon Principles (CCP) quality label until the end of March, while participants continued to digest the possible impact of US President Donald Trump’s withdrawal from the Paris Agreement.
Read MoreINTERVIEW: Offsets should only be allowed for unavoidable emissions, says EU Parliament speaker on Green Claims Directive
The lead European Parliament negotiator on the EU’s Green Claims Directive told Carbon Pulse she will push for climate neutrality claims based on carbon offsets to be allowed only for leading companies that need to tackle their “residual emissions” during final talks on the directive due to kick off this week.
Read MoreEuro Markets: EUAs drop in sync with gas, equities as bears try to correct ‘over-stretched’ market
European carbon prices began the week with a move lower as bearish traders sought to impose their views but ran into stubborn defence at technical levels, while natural gas eased back as the supply outlook improved even as EU storage levels fell to around 15% below the same time last year.
Read MoreINTERVIEW: Mid-year ocean conferences to mark turning point for High Seas Treaty
Several countries are on track to announce the ratification of the UN High Seas Treaty at two major ocean conferences in mid-2025, paving the way for the hard-fought agreement to come into force nearly two years after it opened for signature, a senior member at a large philanthropic organisation told Carbon Pulse.
Read More