Weekly News Highlights

This week, the world of carbon and biodiversity credits buzzed with exciting progress, signalling a shift towards more sustainable futures. In a bold move, TotalEnergies is investing $100 million in US forestry projects aimed at generating carbon credits for its post-2030 emissions goals. Across the globe, African nations are pushing for a united front, with a call for a continent-wide minimum price on Article 6 carbon credits to safeguard impactful carbon projects.

In a surprising twist, King, the creator of the beloved Candy Crush game, stepped into the environmental arena by purchasing the first-ever biodiversity credits under the UK’s new voluntary scheme, helping restore nature in Sussex’s South Downs National Park. Mexico, too, is making waves as a conservation project in the Sierra Gorda Biosphere Reserve prepares to generate the first biodiversity credits under the BioCarbon standard. As August came to a close, the carbon credit market surged, with nearly 40,000 tonnes of credits trading hands on the Xpansiv CBL platform, underscoring the growing momentum of this vital market.

Here are this week's highlights:

French energy giant TotalEnergies has committed $100 million to a series of sustainable forestry projects in the United States, aiming to generate carbon credits to meet the company’s emissions goals beyond 2030.

The lead negotiator for the African bloc at the UN climate talks has called for a unified minimum price on Article 6 carbon credits across the continent. This proposal aims to prevent countries from undercutting each other and support the financing of high-quality, impactful projects.

King, the company behind the popular Candy Crush game, has become the first to purchase biodiversity credits under the UK’s newly launched voluntary scheme. The company acquired 543 credits at approximately $66 per unit, supporting a nature restoration project in the South Downs National Park, Sussex.

A groundbreaking conservation project in Mexico is on track to generate the first biodiversity credits under the BioCarbon standard. This initiative, led by Rancho La Onza and CarbonPlus, focuses on the restoration and protection of 200 hectares within the Sierra Gorda Biosphere Reserve in Guanajuato.

The carbon credit market saw significant developments in the final days of August, with the Xpansiv CBL platform at the forefront. A major highlight was the trade of 39,414 tonnes of credits at $7.15 per metric tonne. This transaction underscores the increasing importance of carbon credits in today’s markets.

Read the full articles on Green Earth News here.

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