News

A consumer class action lawsuit filed Tuesday alleges Delta Air Lines inaccurately billed itself as the world's “first carbon-neutral airline” while relying on carbon offsets that were largely fraudulent.

Vietnam plans to officially run a carbon trade exchange in 2028, according to a draft carbon market project in Vietnam conducted by the Ministry of Natural Resources and Environment.

China's Daqing Oilfield Co recently completed its first online trade for 1,000 tons of liquefied CO2 by bidding in the domestic market with a premium of 210 yuan ($30.37) per ton added to the original price, China Media Group reported on Monday.

Analysts have raised their average price forecasts for EU carbon permits for the next three years after the EU gave green light to the bloc’s carbon market reforms.

The European Parliament approved on April 18 as many as three pieces of legislation from its landmark Fit for 55 package, which aims to reduce greenhouse gas emissions by 55% by 2030.

A number of big companies decided to create in-house carbon credits despite criticisms against offsets.

A record $63 billion was raised from the sale of carbon allowances across 28 emission trading systems (ETS) in 2022, as many countries increased ambitions to cut pollution despite record high energy prices following Russia’s invasion of Ukraine, a report

Prices of New Zealand Units, or NZUs, the country's emission trading carbon allowance unit, dropped to 18-month lows March 24 after a short-lived jump from a failed auction on March 15.

Guyana, which has pioneered offshore oil exploration, is leveraging its inland forests to access carbon markets, a business that the government sees as more profitable than mining or agriculture, Vice President Bharrat Jagdeo said.

Analysts have revised up their average price forecasts for EU carbon permits for the next three years in anticipation of improving economies in Europe as energy prices fall from record highs.