Carbon Pulse

Chinese market participants believe prices in the national emissions trading scheme will start off slightly higher than the level they estimated last year, though overall price expectations remain modest, a survey showed Tuesday.

The European Commission has released draft values for the benchmarks used determine free EUA allocations to each industry over 2021-25, a step in the delayed process for handing out the units from next year.

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

TradeFlow Capital Management will offset the emissions from the movement of goods under its commodity trading business, the Singapore-based hedge fund announced Monday.

Two Massachusetts generators are holding short positions in the state’s Global Warming Solutions Act (GWSA) programme, with recent prices averaging $7.00 in the thinly-traded market, according to a market oversight report.

The EU could freely allocate EUAs for shipping if the sector is brought into the bloc’s cap-and-trade system, which could prevent carbon leakage and ensure predictability, a senior MEP from the assembly's transport committee (TRAN) said on Monday.

EUAs slipped back below €30 on Monday as a weekend Brexit trade deal failed to materialise, though observers are still bullish on carbon due to the upcoming auction drought.

The TSVCM rightly calls for science-based target setting in tandem with robust carbon offsetting, clear claims guidance for credible communications and broad public support, and long-term corporate commitments and futures contracts to de-risk project development. Yet having sat in Taskforce discussions and observed several emerging instruments that seek to operationalise the forthcoming ‘blueprint,’ Gold Standard's Owen Hewlett spots several concerns about the quality of what is meant to scale.

Dominion Energy anticipates its Virginia-based emissions will declined by more than 10% over the post-2020 period as it joins the RGGI cap-and-trade scheme, and that allowance prices will near $10 by 2030, according to a public filing.

The University of Cambridge Institute for Sustainability Leadership (CISL) is a globally influential institute within the University of Cambridge working on a mission to develop leadership and solutions towards a sustainable economy. We are looking for a Maternity Cover Senior / Project Manager to support and deliver our European work programme.

South Korea plans to strengthen its carbon pricing system as part of its 2050 net zero emissions strategy, though Finance Minister Hong Nam-ki on Monday would not commit to putting in place a carbon tax.

Japan is planning an emissions trading market for its car industry similar to schemes operating in California to help reach its 2050 net zero target.

Australia’s Santos and Japan’s Mitsubishi are considering options for delivery of carbon neutral LNG from Santos’ Barossa project, after the two on Monday announced a 10-year deal worth 1.5 million tonnes of gas annually.

Corporate Carbon Advisory is seeking a Carbon Project Development Manager to play a key supporting role in a team-based approach to further developing and operating the firm’s portfolio of Emissions Reduction Fund (ERF) projects.

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

One of Apple’s co-founders has joined forces with an carbon market entrepreneur to launch a $1 billion blockchain company that tokenises energy efficiency measures.

California's free carbon permit distributions to industrial emitters declined by nearly 13% for 2021, with refineries accounting for the largest chunk of the year-on-year difference, according to data published by regulator ARB on Friday afternoon.

Compliance entities unwound their California Carbon Allowance (CCA) positions following the publication of the final 2020 WCI auction results, while financial entities added to their holdings, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

The California carbon market likely needs to adjust its allowance supply to drive future emissions reductions, while state regulator ARB should evaluate the need to continue distributing free permits to refineries, according to an annual watchdog report. 

The Gold Standard Foundation seeks a highly motivated individual to join our technical team, reporting to the technical director.