CP Daily: Sunday, March 2, 2025

Published 01:28 on March 3, 2025 / Last updated at 01:28 on March 3, 2025 / Asia Pacific, Australia

CP Daily is Carbon Pulse’s free newsletter, providing a daily summary of our news along with bite-sized updates from around the globe.

TOP STORIES

COP16: Countries Strike Last-Gasp Deal on Nature Finance
At the resumed COP16 UN biodiversity summit on Thursday, nations reached a hard-fought agreement to mobilize finance for nature. This decision, while a step forward, has drawn criticism for postponing essential measures needed to close the existing funding gap by the decade’s end.

Carbon Pulse Strengthens Reporting Teams
Carbon Pulse has further enhanced its team of reporters focusing on carbon markets, nature, and biodiversity through new hires and promotions.

AVIATION ANALYSIS: Uncertainty Surrounds CORSIA Participation
New analysis from Carbon Pulse indicates growing uncertainty regarding the involvement of major aviation demand centers in CORSIA, posing a challenge for the EU as it seeks to enforce sectoral decarbonization in line with its climate goals.

Investment Funds Show Strong EUA Price Forecasting Ability
A recent study reveals that investment funds and other financial institutions have demonstrated a remarkable ability to predict long-term price trends in the European carbon market, despite holding a limited share of total long and short positions.

Ghana to Sell 24 Million Article 6 Credits
President John Mahama announced in his State of the Nation Address that Ghana will auction 24 million carbon credits under Article 6 of the Paris Agreement, aiming to finance sustainable development while reducing emissions.

Cookstoves Consortium Secures €4 Million for Project in Zambia
A London-based development group and a Belgian management company have invested €4 million to scale a clean cookstoves Article 6.2 project in Zambia.

EU’s Clean Industrial Deal Falls Short, Steelmakers Say
Steel association Eurofer criticized the European Commission’s proposal for a Clean Industrial Deal, stating that while it includes commendable initiatives, it lacks “structural solutions” to pressing issues such as trade and high energy prices.

Experts Advocate for Climate Dividend Schemes
European climate policy advocates are urging EU member states to adopt environmental dividend schemes to ensure a fair distribution of revenues from the Emissions Trading System (ETS), highlighting significant shortcomings in Italy.

Dutch Climate Fund Secures €150 Million for Green Hydrogen
A Netherlands-based fund has announced the establishment of a green hydrogen blended finance fund, raising an initial €150 million from European donors.

EURO MARKETS

EUAs Experience Largest February Fall in Nine Years
European carbon prices recorded their worst February in nine years, nearing their year-to-date low, as the market tracked the decline in natural gas prices.

AMERICAS ANALYSIS

Trump’s Tariffs Threaten US-Canada Energy Ties
Upcoming tariffs from President Trump pose a risk to the US-Canada energy relationship, potentially creating uncertainty in Northeast energy markets.

US Senate Bill Aims to Reverse Vehicle Emissions Regulations
A bill aimed at overhauling federal vehicle emissions standards has been introduced in the US Senate.

Alberta Predicts Budget Deficit Amid US Tariff Concerns
Canada’s Alberta province is preparing for potential US energy tariffs in its new budget, while also forecasting a significant drop in revenues from its carbon market.

ASIA PACIFIC

Chinese Permit Prices Dip to Six-Month Low
Permit prices in China’s national emissions market have fallen below 90 yuan ($12.35), hitting their lowest level in six months.

Australian Emissions Continue to Decline
Emissions from nearly 70% of sectors monitored by Australian greenhouse gas reporting have been decreasing since 2019, with additional reductions reported in 2024.

Thailand Launches €118 Million ‘Climate-Smart’ Rice Project
Thailand has initiated a German-backed €118 million project aimed at promoting ‘climate-smart’ rice farming to support over 253,000 farmers and reduce carbon emissions by 2.44 million tonnes of CO2e by 2028.

VOLUNTARY

Cookstove Credits Could Supply CORSIA
Industry experts believe that cookstove credits could become a significant supply source for ICAO’s CORSIA, particularly in its initial phase, providing airlines with a cost-effective means to offset emissions.

Embattled C-Quest Capital Files for Chapter 7 Bankruptcy
C-Quest Capital has filed for Chapter 7 bankruptcy in Delaware, citing financial distress and insufficient capital.

New Blockchain-Based Carbon Credit Aims to Reduce Methane Emissions
A climate technology firm has launched a blockchain-based voluntary carbon credit designed to cut methane emissions by diverting organic waste from landfills to compost.

New Tool Launched for Assessing Net CO2 Removals from DAC
A US non-profit has introduced an online tool to calculate net CO2 removals from direct air capture (DAC) facilities, providing a comprehensive lifecycle emissions analysis.

INTERNATIONAL

Domestic Cross-Border CCS Adoption Hindered by Challenges
A report indicates that carbon capture and storage (CCS) initiatives in China and the US face obstacles due to regional interests and fragmented regulations affecting CO2 transport and storage.

EVENTS

Carbon Forward Asia – Mar. 4-5, Singapore
Join us for our third annual Asian conference, gathering experts to discuss ASEAN markets and developments in carbon pricing.

EVision 2025 – Mar. 5-6, Brussels
This event will explore the role of electric vehicles in the transition to a net-zero energy system.

North American Carbon World (NACW) – Mar. 25-27, Los Angeles
NACW 2025 will address critical climate policy issues and provide networking opportunities for carbon professionals.

European Climate Summit – Apr. 1-3, Lisbon
Join us at IETA’s flagship European Climate Summit to engage with leaders shaping the future of carbon markets.

BITE-SIZED UPDATES FROM AROUND THE WORLD

• Absent Seats at IPCC Meeting: The absence of US scientists at a crucial IPCC meeting in Hangzhou raises concerns over the quality of expertise available for the next assessment report.

• Energy Transition Partnership: Malaysia’s national oil company Petronas has partnered with the UK’s Energy Institute to promote decarbonization and sustainable energy practices.

• Greek Government Reallocates EU ETS Revenues: The Greek government has shifted a portion of EU ETS revenues to support energy-intensive industries, leading to cuts in renewable energy funding.

• BASF Projects Slight Growth: BASF anticipates a slight increase in adjusted operating income this year, despite facing challenges in the global market.

• Final Countdown for UK Nuclear: The UK government has begun the final selection process for its Small Modular Reactor (SMR) program.

• Local Hydrogen Funding in Germany: Baden-Wurttemberg announces a €100 million funding initiative for regional hydrogen production projects.

• Agrivoltaics Potential in the UK: Research indicates that combining solar panels with farming could significantly boost solar energy production without sacrificing agricultural land.

• Cote d’Ivoire Strengthens Cooperation on Carbon Credits: During the International Agricultural Show in Paris, Cote d’Ivoire’s Minister of Water and Forests met with developers to enhance cooperation on carbon credits.

• Saudi Aramco Awards CCS Contract: Saudi Aramco has awarded a $1.5 billion contract for its CCS hub in Jubail, which aims to capture 9 million tonnes of CO2 annually.

• Yadgreen Partners with NCVC: Yadgreen collaborates with Saudi Arabia’s National Centre for Vegetative Cover to assess carbon sequestration in mangrove forests.

• Australian Offshore Wind Projects: The Australian government has granted feasibility licenses for two offshore wind projects, representing a significant step towards construction.

• China’s Belt and Road Initiative: A report reveals record engagement in China’s Belt and Road Initiative, with substantial investments in both green and fossil fuel projects.

AND FINALLY…

Carnival Collaboration: Galo da Madrugada, the largest street Carnival block in Recife, has partnered with Ambipar to offset CO2 emissions from its upcoming celebration, which is expected to attract 4 million attendees.

For further updates and insights, feel free to reach out to us at news@carbon-pulse.com.