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Europe’s carbon market and national scheme for heating and transport brought Germany a record 13.2 billion euros in 2022, the Federal Environment Agency (UBA) said on Tuesday.

The FIFA 2022 World Cup is currently underway in Qatar, a small desert nation with the highest carbon emissions per capita in the world and generates most of its revenue from the extraction and sale of oil.

Criticisms raised by a whistleblower who described Australia’s carbon credit system a fraud that is hurting the environment and wasted more than $1bn in taxpayer funding have been supported in a new report commissioned by the Albanese government.

Australia’s carbon trading market has been booming over the past week with traded volumes leaping more than 50%, as big corporates race to secure offsets ahead of Labor’s pending industrial emissions reforms.

Washington state’s estimated revenue from a new carbon credit system for the first five years has increased by $1.6bn, because of rising credit values and plans to auction a portion of future allowances.

The London Stock Exchange has set listing rules for companies that finance carbon offset projects to grow the market and enhance transparency.

Cambodia has earned $11.6 million from 2016 to 2020 by selling carbon credits in the global voluntary carbon market.

The City of New Westminster in western Canada recently received 26.4 million Canadian dollar ($20.6 million) after selling the credits it had earned under the BC Low Carbon Fuel Standard (BCLFS).

Australia’s new Labor government has appointed a climate scientist to conduct a six-month review of the country’s carbon credit scheme, following concerns that certain projects receiving credits are not actually reducing carbon emissions.