Carbon Removal News - January 4
California VCM disclosure in effective; Taiwan's first carbon-neutral wasterwater plant; Bloomberg acquires carbon credit analytics platform; eChemicals and Bosch to scale CO2 electrolyzer production
In this newsletter
California's New Carbon Offset Disclosure Requirements
Taiwan's First Carbon-Neutral Wastewater Plant
Ocean Microbes' Cross-Feeding: A Carbon Cycle Regulator
IPCC Report Analysis: Emissions Pathways and Technological Advancements
Bloomberg acquires Viridios AI’s carbon credit data
EU Carbon Policies and Carbon Leakage: Evidence and Simulations
Taiwan Launches Carbon Fee System, Pledges Net-Zero by 2050
eChemicles and Bosch Partner to Scale CO2 Electrolyzer Production
Malaysia-South Korea MoU on Carbon Capture and Climate Cooperation
CRC receives EPA permits for CO2 injection and storage in California
Groundbreaking soil project to revolutionise carbon sequestration
UK Announces Stricter Regulations for Waste Incinerators
Accounting for CO2 Reductions in CCU Fuels
Carbon13 and Third Derivative Partner to Scale Climate Technologies
US Graphite Producers File Trade Case Against China
Hempalta Corp. Acquires Hemp Carbon Standard for Carbon Credit Expansion
Taiwan Launches Carbon Fee System with Preferential Rates
MIGA's new carbon market guarantee risks shielding big polluters
California's New Carbon Offset Disclosure Requirements
(December 01)
In 2023, California passed the AB 1305, the Voluntary Carbon Market Disclosures Act, requiring companies marketing, selling, or using carbon offsets to make climate-related claims to disclose specific information. From January 1, 2025 companies covered by the law are required to disclose this information on their websites.
While AB 1305 became effective on January 1, 2024, the author of the bill seeks to clarify that the intended date for the first disclosure is January 1, 2025. By the end of the legislative session on August 31, 2024, the California legislature did not pass AB 2331, a bill intended to amend AB 1305. AB 2331 was meant to be a “clean-up” bill that would have delayed the enforcement of AB 1305 until July 1, 2025, and clarified several ambiguities in the existing statute. Unless another amending bill is introduced in the January 2025 legislative session, the current disclosure timeline will remain unchanged. anthesisgroup.com
Failure to comply may result in fines up to $2,500 per day, up to a maximum of $500,000.
Taiwan's First Carbon-Neutral Wastewater Plant
(January 03)
Taiwan's Ministry of the Interior and Kaohsiung City Government have collaborated to launch the nation's first carbon-neutral wastewater treatment plant, the Qimei Wastewater Treatment Plant. This initiative aims to gradually expand the nationwide reduction of carbon emissions from the sewer system.
Overseas Community Affairs Council, Taiwan
Ocean Microbes' Cross-Feeding: A Carbon Cycle Regulator
(January 03)
MIT scientists have discovered that Prochlorococcus, the most abundant photosynthesizing organism on the planet, sheds DNA building blocks at night, which are then consumed by other ocean organisms, such as SAR11, the most abundant bacteria in the ocean. This cross-feeding interaction could be a major regulator of the ocean carbon cycle and helps many microbial communities to grow sustainably. The research was supported by the Simons Foundation and the National Science Foundation.
IPCC Report Analysis: Emissions Pathways and Technological Advancements
(January 03)
The IPCC assessment reports (AR5 and AR6) have shown that scenarios without specific climate policies have shifted lower due to falling low-carbon technology costs and reduced expectations for economic growth. Mitigation pathways consistent with 1.5–2 °C have seen increasing electrification rates and higher shares of variable renewables in electricity, reflecting changing costs. Despite the shrinking carbon budget, mitigation costs have not increased given more optimistic low-carbon technology cost projections. Scenario producers must continually recalibrate to keep abreast of technology, policy and societal developments to remain policy relevant.
Bloomberg acquires Viridios AI’s carbon credit data
(January 02)
Bloomberg L.P. and Viridios Group have completed a strategic transaction.
Ownership of the comprehensive voluntary carbon credit projects and resultant pricing and valuation analytics developed by Viridios AI over the past five years will be transferred to Bloomberg
Several Viridios AI team members will also Bloomberg.
EU Carbon Policies and Carbon Leakage: Evidence and Simulations
(January 02)
The EU has implemented the EU Emissions Trading System (EU ETS) and the Carbon Border Adjustment Mechanism (CBAM) to reduce carbon emissions. A study using French firm-level import data found evidence of carbon leakage, where firms shifted sourcing to non-ETS countries to avoid carbon taxes. The CBAM aims to address this leakage by extending the carbon tax to imported products, which could significantly increase emission reductions but also raise prices for consumers.
Taiwan Launches Carbon Fee System, Pledges Net-Zero by 2050
(January 01)
Taiwan, under President Lai Ching-te, announced the official start of its carbon fee system on January 1, 2025, as part of its commitment to achieving net-zero emissions by 2050. This aligns Taiwan with global climate action and is a key component of its broader sustainability goals. The government also plans to continue investing in renewable energy and green technologies.
Office of the President of Taiwan
eChemicles and Bosch Partner to Scale CO2 Electrolyzer Production
(December 2024)
Hungary-based eChemicles, a CO2 electrolysis company, has partnered with Bosch Thin Metal Technologies to scale up CO2 electrolyzer stack production. This collaboration leverages Bosch's expertise in high-precision manufacturing to accelerate the commercialization of eChemicles' CO2 utilization technology, aiming to deliver advanced green solutions.
Malaysia-South Korea MoU on Carbon Capture and Climate Cooperation
(December 31)
Malaysia and South Korea signed three Memoranda of Understandings (MoUs) focusing on higher education, carbon capture and storage, and cooperation under Article 6, Paragraph 2 of the Paris Agreement. Over 200 participants from 147 South Korean firms explored Malaysian business and investment opportunities, particularly in sectors like semiconductors, EVs, and AI. As of June 2024, 392 manufacturing projects with Korean participation have been implemented, totaling RM43.10 billion (USD11.50 billion) in investments.
Malaysian Investment Development Authority (MIDA)
CRC receives EPA permits for CO2 injection and storage in California
(December 31)
US-based California Resources Corporation (CRC) and its carbon management business, Carbon TerraVault (CTV), have received final Class VI well permits from the Environmental Protection Agency (EPA) for underground injection and storage of carbon dioxide (CO2) into the 26R reservoir in California. The 26R reservoir, part of a joint venture with Brookfield, has an expected injection rate of 1.46 million metric tons of CO2 per year and a total estimated capacity of up to 38 million metric tons.
California Resources Corporation
Groundbreaking soil project to revolutionise carbon sequestration
(December 30)
UK’s Teesside University and Scott Bros have partnered to develop an innovative soil mixture for carbon sequestration using an enhanced rock weathering (ERW) technique. The project, funded by Innovate UK, integrates AI and IoT technologies for enhanced monitoring and reporting of carbon captured in the soil. This aims to revolutionize carbon sequestration, particularly in urban and industrial areas, and create new opportunities in the carbon credit market.
UK Announces Stricter Regulations for Waste Incinerators
(December 30)
The UK government announced new, stricter planning approvals for waste incinerators. New plants must maximize efficiency, support net-zero goals, and utilize produced heat. The government aims to reduce reliance on incineration by increasing recycling rates and improving existing infrastructure.
Accounting for CO2 Reductions in CCU Fuels
(December 26)
The Institute for Global Environmental Strategies (IGES) in Japan has published a preprint reviewing the attribution of CO2 reductions for CCU fuels. The paper analyzes current issues, proposes solutions for counting CO2 emissions from CCU fuels, and suggests approaches for international rule-making involving the IPCC, ISO, EU, and UNFCCC.
Carbon13 and Third Derivative Partner to Scale Climate Technologies
(December 19)
US-based Carbon13 has partnered with Third Derivative, a climate tech ecosystem, to support the development and scale-up of climate-critical technologies globally. This collaboration will focus on accelerating the growth of climate tech startups, particularly in heavy industry decarbonization, leveraging Third Derivative’s network and Carbon13’s venture-building expertise.
US Graphite Producers File Trade Case Against China
(December 18)
US-based NOVONIX Limited, along with other members of the American Active Anode Material Producers (AAAMP), filed a trade case with the U.S. government alleging that China is exporting graphite at unfairly low prices, harming the domestic industry. NOVONIX's Riverside facility, slated to begin commercial production in 2025, has received a US$100 million grant and a US$103 million tax credit from the Department of Energy, and a conditional commitment for a US$754.8 million loan for a new production facility.
Hempalta Corp. Acquires Hemp Carbon Standard for Carbon Credit Expansion
(December 10)
Canadian Hempalta Corp. completed the 100% acquisition of Hemp Carbon Standard Inc. for a total consideration of C$90,000 cash and potential earnouts of C$75,000 and C$335,000. This acquisition strengthens Hempalta’s capacity to scale carbon credit solutions and advance biochar expansion initiatives. The company now has full operational control of Hemp Carbon Standard’s proprietary methodologies and technology for measuring, reporting, and verifying carbon credits.
Taiwan Launches Carbon Fee System with Preferential Rates
(December 10)
Taiwan has implemented a carbon fee system, effective January 1, 2025, initially targeting power, gas, and manufacturing industries with annual emissions exceeding 25,000 metric tons of CO2e. The standard fee is NT$300 (US$9.34), but preferential rates are available for companies with approved emissions reduction plans. Funds generated will be used for emission reduction efforts, research, adaptation initiatives, and education.
European Chamber of Commerce, Taiwan
MIGA's new carbon market guarantee risks shielding big polluters
(December 12)
The Multilateral Investment Guarantee Agency (MIGA), the World Bank’s political risk insurance arm, presented a Letter of Authorization (LoA) template aimed at de-risking carbon markets for private investors under Article 6.2 of the Paris Agreement. This move comes despite evidence that carbon markets have failed to reduce emissions and concerns that it will benefit big polluters and prolong the fossil fuel era. The LoA aims to secure enforceable host government commitments through compensation and dispute resolution procedures, potentially posing significant risks for host countries.
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