Carbon Pulse

Japanese conglomerate Mitsubishi and Switzerland-headquartered developer South Pole are planning a facility to assist companies in purchasing $300-800 million worth of carbon removals offsets a year.

A daily summary of our news plus bite-sized updates from around the world.

*PREMIUM LISTING (viewable by non-subscribers until June 7) – For ICAP’s Secretariat based in Berlin, Germany, we are now seeking to recruit an analyst, consultant or advisor – candidates will be employed in one of these roles based on their level of prior professional experience.

Speculators continued to fuel bullish pressure for California Carbon Allowances (CCAs) on the secondary market this week, as RGGI allowance (RGA) prices hit a two-month high with an uptick in compliance demand.

Nature United seeks a proven and dynamic Provincial Policy Advisor to work with the Director of Strategic Partnerships and conservation program leads to develop and implement strategies to advance provincial and territorial government relations and achieve Nature United’s conservation goals through public policy, funding, and programming. 

European utilities Enel and Uniper both reported a year-on-year rebound in power output for Q1 on Thursday, with last year’s generation levels disrupted by the start of the coronavirus crisis and dampened by warmer weather.

EUAs resumed their record-breaking run on Thursday, climbing back above €50 to extend the week's all-time high as bullish sentiment continued to hold sway.

Steelmaker ArcelorMittal saw a substantial demand recovery in Q1, achieving the “strongest” quarterly results in a decade following the COVID-19 crisis, it said in financial results on Thursday that also unveiled new deals to reduce emissions at its European facilities.

Environmental markets platform IncubEx has hired a new director to further develop its European carbon and renewables certificates offerings.

California Low Carbon Fuel Standard (LCFS) rebounded towards a one-month high this week even after the programme posted its highest quarterly credit surplus in four years.

South Korean carbon allowances have rebounded 28% since hitting a 5-year low last month, though uncertainty is high in the market as the government has yet to announce the exact ETS emissions balance for 2020.

A daily summary of our news plus bite-sized updates from around the world.

Standard-setting body Verra this week accused Greenpeace of misrepresenting its forest carbon offset methodologies and cherry-picking expert opinions to undermine the credibility of its REDD+ projects in two recent articles.

More lenient carbon intensity benchmarks at the outset of Washington state’s recently passed low-carbon fuel standard (LCFS) will limit the impact of the programme until the latter half of this decade, traders said.

The private sector Taskforce on Scaling Voluntary Carbon Markets (TSVCM) has collectively arrived at a solution for what ‘co-benefits’ should count as part of a carbon credit. It believes this will help maintain quality in the market, increase transparency and also create a mechanism to develop an appropriate pricing benchmark for these ‘co-benefits’, according to Chris Leeds of Standard Chartered.

EUAs lifted back above €49 on Wednesday, clawing back all of the previous session's losses that followed the market's first-ever break above €50.

The launch of Yara’s Agoro Carbon Alliance will address agriculture’s global greenhouse gas emissions and will turn the carbon capturing potential at farm level into a sustainable growth business while providing a new income stream to farmers worldwide.

As the Carbon Cropping Agronomist you will have responsibility for Agoro Carbon Alliance sales and agronomic activity within your geography. The Agoro Carbon Alliance, initiated by Yara, is a global business created to help farmers earn additional revenue through carbon cropping. Our mission is to build a more sustainable and profitable food future by decarbonizing the food value chain with the help of farmers and partners across the globe.

Pennsylvania released a draft final RGGI regulation on Tuesday that maintains its initial CO2 cap levels criticised as weak by academics, as well as a 2022 contingency plan amid fervent opposition to the power sector cap-and-trade programme from Republican lawmakers.

A new offset developer with an extensive pipeline of peatland credits is looking for a young energetic and highly motivated partner to implement & manage the offset delivery cycle. The founders have extensive carbon offset experience and well-established contacts with landowners in Scotland.