Carbon Pulse

A Colorado-based company announced a new service this week for consumers to buy voluntary carbon credits to offset their own emissions or those of others, with the initial product offerings coming from a handful of forestry projects.

EUAs neared €28 on Wednesday to continue this week's upward move as wider financial markets rose on prospects for a smooth US presidential transition and COVID-19 vaccine progress, while data showed investors continued to pile into the EU ETS ahead of the looming supply drought.

EU delegations have begun work on the conclusions of a key EU summit on Dec. 10-11 where the 27-nation bloc’s leaders could agree a higher 2030 GHG reductions target, although some hurdles remain.

Voluntary cancellations of Australian carbon credits in Q3 was 63% higher than in the same period last year, though numbers remain modest amid competition from international units and renewable energy credits.

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

Last week’s WCI current vintage auction sold out for the first time since February, but the settlement was beneath traders’ expectations as compliance entities purchased fewer allowances than the prior sale, according to results released Tuesday afternoon.

The successful applicant will work in a multi-disciplinary team to deliver analysis of Victoria's greenhouse gas emissions; provide robust and effective policy advice; and prepare papers, reports, briefings and correspondence. In particular, the role will include the development of an annual greenhouse gas emissions report for Victoria, based on data from the national greenhouse gas inventory.

In this job, you’ll develop air quality and climate change policy positions with a particular focus on transportation and building electrification. You will also lead cross-functional Southern California Edison (SCE) project teams on air and climate regulatory policy, as well as partner engagement and direct leadership of a regulatory team.

Canada could reach its 2030 and 2050 emissions reduction goals by increasing its carbon price over the next two decades, with the country achieving more abatement if it phases out its output-based pricing system, a report said Tuesday.

The non-CO2 climate impacts from aviation are at least as important as those of CO2 alone, according to fresh analysis published by the European Commission on Tuesday, which has angered campaigners by recommending waiting years to take any action.

Analysts have reinforced their bullish outlooks for EU carbon prices in the coming months following news last week that the start of next year’s allowance auctions would be delayed.

EU carbon allowances rose for the third straight session on Tuesday as bullish sentiment about a smooth transition of presidential power in the US lifted wider markets, with an upcoming supply drought also helping EUAs bust through a technical ceiling to notch their highest close in two months.

The TCI consortium is expected to release a final Memorandum of Understanding (MOU) by mid-December that would allow participating US jurisdictions to advance the proposed transport cap-and-trade programme next year, while new polling shows public opposition to the scheme.

US biofuel credit (RIN) values fell towards a three-week low on Tuesday, while biofuel and agriculture groups called on a federal court to force the EPA to address an improper waiver given out under the Renewable Fuel Standard (RFS) several years ago. 

Italy-based utility Enel unveiled plans on Tuesday to cut its emissions by 30% over the next three years and to bring forward its coal phaseout date by three years to 2027.

The Victoria state government on Tuesday announced A$92 million ($68 mln) over 16 years for a land-based carbon sequestration programme, while new Clean Energy Regulator data shows developers continue to sell well over a million offsets per month to the federal government.

The Danish government has backed down on moves to increase its carbon tax, with the measure excluded from reform proposals presented late Monday following months of debate among ministers.

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

The OECD urged has urged Lithuania to introduce a carbon tax and slash its fossil fuel subsidies in order to achieve its national climate objectives.

While stakeholders will be closely watching this week’s UK spending review for any sign of a decision on the government’s post-Brexit carbon pricing plans, some legal experts appear convinced that an ETS will be the chosen outcome and that the first allowance auction could be held in Q2 2021.