Carbon Pulse

Utility Dominion Energy plans to build a RGGI allowance bank and cover roughly a fourth of its annual obligations via quarterly cap-and-trade auctions, with the Virginia-based company aiming to recouping these costs on electricity bills, according to newly published documents.

European carbon prices receded on Tuesday, pulling back slightly after Monday's huge COVID vaccine-fuelled rise amid supply pressures and fundamental weakness from milder weather.

Ukraine will launch a system for monitoring, reporting, and verification (MRV) of emissions in 2021, the country’s environment minister announced on Tuesday, a milestone in the design of a national carbon market.

EU negotiators agreed on Tuesday a deal for the bloc’s €1.074 trillion seven-year budget and a €750 billion coronavirus recovery fund, with tighter scrutiny for climate spending part of the final package.

Czech utility CEZ continued to be less heavily hedged than in recent years over Q3, while its relatively resilient coal generation is set to tumble next year following a deal to sell its biggest facility.

California electricity sector CO2 output rose year-on-year for the second consecutive month as a September heatwave broke weather records across the Golden State, California Independent System Operator (CAISO) data showed.

The post will lead on the Scottish Government's policy for industrial climate regulation – developing and implementing new regulations post-EU Exit that cover several areas that originated from EU law - carbon pricing / emissions trading, and regulation of Fluorinated Greenhouse Gases (F-gas) and Ozone Depleting Substances (ODS).

German utility Uniper reported an 11% year-on-year drop in EU-based CO2 output for the first nine months, though the opening of the Datteln coal plant slowed its decarbonisation efforts, according to quarterly results published on Tuesday.

The voluntary carbon market should be standardised to allow credits to list on exchanges to help massively scale up and meet Paris Agreement climate goals, according to a consultation launched Tuesday by private sector taskforce steered by UN climate finance envoy Mark Carney.

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

The projected presidential victory of Democratic nominee Joe Biden this weekend opens the door for the US government to take swift action on domestic and global climate policy during the first days of his administration, although a potentially divided Congress could stifle some of the progress necessary to achieve rapid and deep decarbonisation.  

California Carbon Offset (CCO) market stakeholders threw their weight behind a committee report released last month that would reduce offset invalidation periods and allow regulated entities to trade compliance limits, though environmental justice (EJ) organisations called for the state to suspend the credit programme pending a further review, according to public comments.

On the eve of the release of an expert report that could help revolutionise the “murky” global voluntary carbon market, the head of South Pole - one of the world’s biggest offset developers - says the authoring taskforce led by former Bank of England head Mark Carney is "barking up the wrong tree" and should be focused more on how to significantly raise prices than on creating benchmarks or improving transparency.

The UK plans to become the first major economy to require all listed companies and investors to disclose their climate risks, Finance Minister Rishi Sunak said on Monday, setting a deadline three years longer than draft plans had outlined. 

Germany's European Energy Exchange (EEX) has been re-appointed by the European Commission as the Common Auction Platform (CAP) for carbon allowance auctions during the first half of the EU ETS' Phase 4 (2021-20).

US biofuel credit (RIN) values under the Renewable Fuel Standard (RFS) surged by 11% on Monday after Democratic nominee Joe Biden was projected to win the presidency over the weekend, but prices swiftly came off over the course of the morning.

Switzerland has successfully completed its first carbon allowance auction since linking its emissions trading scheme with that of the EU.

The International Consultant (IC) on identification and facilitation of private sector investments in support of the national REDD+ strategy (hereafter ‘the Consultant’) will provide technical assistance to the Government of Malaysia in the development and establishment of a sustainable and overarching investment plan that will guide the allocation of investments that will support the implementation of the country’s REDD+ strategy.

Background Climate Finance Policy Analyst or Sr. Policy Analyst  Join us in the fight to hold Wall Street accountable, and make finance work for us, not against us.  Americans for Financial Reform Education Fund (AFREF) is seeking a Policy Analyst to drive a developing area of work leveraging AFREFs expertise on financial regulation to contribute to the […]

The Policy Director, Climate Justice will be responsible for developing and advancing a climate justice agenda at Audubon including understanding, addressing, integrating and adding issues of environmental justice across Audubon’s climate state and federal policy portfolio.