Carbon Pulse

EUAs resumed their record-breaking rally on Monday, climbing towards €48 as some experts expected further gains this week before a correction upon the passing of the annual compliance deadline.

Washington state lawmakers this weekend approved a climate policy package that will see the state implement a WCI-modelled carbon market and low-carbon fuel standard (LCFS), but both programmes are still are contingent on the passage of a transportation funding package in the next year.

EU heads of state and government will on May 25 lay the groundwork on the bloc’s climate policy reform and debate key legislative proposals including the expansion of the carbon market to buildings and vehicles.

Veolia’s Australian subsidiary has delivered over 320,000 credits to the government’s Emissions Reduction Fund (ERF) in recent weeks, while NSW regulators declined to impose carbon offset requirements on a new coal mine despite the miner offering to accept such a measure.

CarbonCo is seeking an experienced Forestry Advisor to oversee the provision of carbon forestry advice to its customers, drive engagement with the forestry sector, and provide domain expertise in support of the ongoing development of our automated solutions.

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

The specialist will support the leader of the Intact Forest team in driving the three components of the initiative, namely building the science case, influencing global policy, and accelerating implementation of solutions in the field. The latter is linked primarily to our global portfolio of forest landscapes, and to national policy advocacy in the countries where they are found.

Verra is looking for a Director of Market Relations to build and strengthen relationships with market stakeholders to promote the use of Verra’s standards worldwide.

Verra is looking for a Director of Market Strategy to ensure the growth and maturation of environmental and social markets, with a particular focus on carbon markets, in a manner that fosters trust and confidence.

The Head of Climate Transition Risk will lead major client engagements, manage senior relationships, and direct key strategic growth pillars in this area.

Our Energy and Climate team works extensively on improving energy efficiency and mitigating greenhouse gas emissions at national and international level. Our experts work at the intersection of policy and practice, helping government and commercial clients worldwide devise effective energy and climate strategies and deliver implementation programmes.

The Lowering Emissions by Accelerating Forest (LEAF) finance coalition will impose high ambition requirements on public and private sector buyers and sellers of offsets, its founding nations the US, the UK, and Norway said on a webinar on Friday.

The US will need to leverage existing programmes and regulatory authority to drive near-term emissions reductions, but federal legislation is likely required to hit its enhanced Nationally Determined Contribution (NDC) to the Paris Agreement, panelists told a conference on Friday.

Speculators brought their California Carbon Allowance (CCA) holdings closer to pre-pandemic levels this week, as WCI emitters once again reduced their net length, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including developments in Washington, Pennsylvania, and New York.

US owners of lands smaller than 2,000 hectares are struggling both to maintain forests and generate credits under existing voluntary carbon offset (VCM) standards, but experts are divided on whether lower monitoring obligations can help alleviate the situation, panelists at the North American Carbon World (NACW) conference said Thursday.

EUAs ended their run of five consecutive record-breaking sessions on Friday, but the futures only slipped slightly as traders expected a few more days of tightness up to the annual compliance deadline.

The UK has fined seven companies a total of more than £600,000 for not complying with their obligations under the EU carbon market.

Government officials on Friday pushed for the public and private sectors to increase climate ambition ahead of the UN COP26 summit this fall, as the US and other countries announced a pair of initiatives to drive future reductions.

Offset standard manager and developer Verra on Thursday said it will not require corresponding adjustments for Paris Agreement-era voluntary carbon market (VCM) transactions, arguing such a move could hinder climate finance to developing countries and create needlessly complex accounting systems.