China’s Ministry of Ecology and Environment (MEE) has approved a set of administrative measures that will support the relaunch of its national carbon offset program, which has been on hold for over six years. A US agricultural technology firm has raised over $250 million to develop sustainable agriculture products and services. The biochar market could benefit from better alignment of carbon credit pricing with the ultimate use of the biochar and the expected duration of carbon sequestration. Verra, a carbon credit certifier, has welcomed recent criticisms of REDD methodologies, noting that these concerns are addressed in its upcoming methodology updates. India should focus on producing high-quality carbon credits to attract more investment in its voluntary carbon projects. Norway’s sovereign wealth fund, overseeing $1.4 trillion, has released stricter climate action guidelines for companies, emphasizing that climate risk presents financial risk and opportunities. Bamboo is expected to be the next booming market for nature-based removal solutions, with afforestation carbon credits from Uganda projected to trade at $20. ICE is introducing a liquidity provider program to boost voluntary carbon credit futures trade. Carbon credit certifier, the Gold Standard, has partnered with two international institutions to develop methodologies for blue carbon and blue economy projects. EU carbon prices increased 1% last week, while UK prices hit a new record low and fell 10% from the previous week. The UK government will provide £500 million to keep a major steel plant open and reduce its carbon emissions. A carbon storage network off the coast of Scotland and 13 other companies have been awarded licenses in the UK’s first-ever carbon storage licensing round. Solar and wind power in the EU offset 54% of total fossil gas imports from Russia in August. The UK’s use of biomass for electricity production will be examined by the National Audit Office. US congressmen have introduced bills for a 10-year carbon removal technology research program. California and Quebec will offer more carbon allowances in their upcoming auction. The Rockefeller Foundation has pledged over $1 billion for climate transition. California’s environmental justice committee has called for the removal of methane credits. This report provides a summary of recent developments in the carbon market sector, including updates from Asia-Pacific and international markets. More than a trillion dollars have been committed to renewables and clean energy access, but additional funding is still needed to meet climate targets. Enhanced rock weathering in tropical agricultural sectors offers potential for climate change mitigation and improved crop yields. Environmental credits standard body Verra has proposed the integration of plastic credits into a global plastic treaty framework. The Insurance Council of Australia notes that extreme weather events and biodiversity loss pose risks for insurers but also present investment opportunities.
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“According to an official source, the US EPA shows no worry over the possibility of renewable diesel exceeding the Renewable Fuel Standard (RFS) mandates.”
The US Environmental Protection Agency (EPA) is currently not concerned about the recent increase in supply of biomass-based diesel, which...
