Carbon Pulse

FEATURE: CSRD challenges loom for businesses, but compliance tools offer path forward Businesses across Europe and beyond face mounting challenges to meet its stringent reporting requirements, as the EU’s Corporate Sustainability Reporting Directive (CSRD) comes into force on Jan. 1, according to experts. Read our coverage in full 👉 https://lnkd.in/eFtryd-r

Register for Carbon Forward Asia 2025 before 17 January for 30% off! Join us for our third year hosting this two-day carbon markets event in carbon hub Singapore, covering: • COP29 and Article 6 – Government and market readiness • Involving the private sector in Article 6 • Carbon markets and energy transition • CORSIA and shipping • Outlook for a common ASEAN carbon market • India and Japan and how they may change the Asian carbon market landscape • What is the outlook for China and Korea opening up their markets? • CBAM – international trade and the cost of carbon • The ever-important discussion on pricing Head to our website for more details: https://lnkd.in/engVrUMN Carbon Pulse | Redshaw Advisors Ltd #carbonforward #carbonmarkets #carbonpricing #netzero

Bill Gates’s clean tech venture fund has stumped up $40 million to invest in a carbon removal startup aiming to create a Canadian testing ground for multiple direct air capture (DAC) technologies, the companies said on Wednesday. Breakthough Energy Catalyst, set up by Microsoft founder Bill Gates, awarded the grant to Deep Sky, which is creating the 'Alpha' DAC test ground in Alberta that will initially have room for eight companies to try out their technologies and tune them up on the way to developing commercial-scale plants. Read our coverage in full 👉 https://lnkd.in/eYBzPgUG

The value of credits retired in the voluntary carbon market jumped to around $900 million in the first 11 months of the year, as the market recalibrated around quality and impact, according to research published by a marketplace. Although the voluntary market has endured a shaky year, and issuance of new credits dropped, the market “isn’t collapsing, it’s evolving”, according to Ceezer in a report published Tuesday. Estimated retirement value between January and November reached $894 mln, up from around £698 mln for the same period in 2023, nearly a 30% increase year-on-year. The platform expects the retirement value of credits will reach $992 mln by the end of 2024, although new issuance volume will fall 21% to 309 mln tonnes. Read our coverage in full 👉 https://lnkd.in/e9_sce94

The UK Department for Transport (DfT) has launched a consultation on Monday laying out proposals for how to implement the UN's Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), including potential fines for non-compliance. The consultation, open until Feb. 10, 2025, seeks views on draft secondary legislation that covers offsetting requirements, following the implementation of CORSIA’s monitoring, reporting, and verification rules in UK law. It also seeks views on how CORSIA and the UK ETS should apply to flights in scope of both schemes, which are those that depart the UK and arrive in the European Economic Area (EEA) or Switzerland. The proposals also include a possible £100 per tonne penalty for non-compliance. Read our coverage in full 👉 https://lnkd.in/ee3AYiBm

The money flowing into international carbon markets could be counted in future tallies of global climate finance — although the lack of a specific mention in the final agreement on a new global goal at COP29 means that the extent to which this happens, and how trust in the market is ensured, is largely up in the air. Some were excited, and others dismayed, mid-way through last month’s COP29 UN climate summit when a draft of the climate finance agreement explicitly encouraged the scale-up of the voluntary carbon market (VCM) as a source of innovative funding for developing countries. That wording was dropped from the final New Collective Quantified Goal (NCQG) decision in Baku, which sets two targets for providing climate finance to developing countries by 2035: for developed countries to take the lead in mobilising at least $300 bln per year of public and private funding, and the wider economy to shore up at least $1.3 trillion per year. But just because carbon finance isn’t mentioned doesn’t mean the funding can’t be counted towards the agreed goal, experts have told Carbon Pulse — regardless of whether they support this or not. In fact, the vagueness of the NCQG text keeps open the door for a wide range of financial sources to be included when the first accounting is done in a few years’ time. So whether the new finance goal becomes a driver for carbon market growth will ultimately rely on if, and how, governments in developed and developing countries introduce policy levers to encourage its growth and assure its integrity. Read our feature in full 👉 https://lnkd.in/eUJPkQtm

Forestry carbon credits, including from REDD and ARR reforestation sectors, now have the green light to scale via Paris Agreement carbon markets, following last month's historic decision at COP29, but the exact methodologies that will be used, and strength of demand, remain uncertain. After nearly 200 countries last month agreed on rules governing international carbon trade under Article 6.2 and Paris Agreement crediting under Article 6.4, the embattled forest carbon crediting sector could find new avenues of demand with final provisions allowing both REDD (avoid deforestation or forest degradation) and ARR (afforestation, reforestation, and revegetation) credits into the UN market mechanisms. Read our analysis in full 👉 https://lnkd.in/erqzBHgA

The Integrity Council for the Voluntary Carbon Market (ICVCM) has approved Verra's VM0047 methodology for its Core Carbon Principles (CCPs) quality label, as well as a fast-growing carbon removal standard. Read our coverage in full 👉 https://lnkd.in/dEMwbZA4

An advance market commitment for nature-based carbon removal, made up of a group of large technology companies, has launched its first request for proposals including methodology-related critera, as it aims to contract up to 20 million credits by 2030. The Symbiosis Coalition, made up of Google, Meta, Microsoft, and Salesforce, is now looking for reforestation and agroforestry projects as part of its carbon removal offtake initiative, with applications open until the end of January, the companies said on Wednesday. Read our coverage in full 👉 https://lnkd.in/ewDTS7sb