Carbon Pulse

UK carbon market consultancy Redshaw Advisors has hired a seasoned offset project developer, aiming to bolster its offering in voluntary offsetting and corporate climate strategies.

The European Commission will consider including six Western Balkan nations in the EU ETS before the countries formally join the 27-nation bloc, according to a new investment agenda for the EU accession candidates. 

US-based Nodal Exchange plans to list next month the first-ever physically-delivered Renewable Identification Number (RINs) futures and options contracts for the Renewable Fuel Standard (RFS), as it grows its suite of environmental products, bourse partner IncubEx announced Friday.

A business group is challenging Virginia’s finalised cap-and-trade regulation as it claims the state’s Department of Environmental Quality (DEQ) did not follow correct procedure when adopting changes earlier this year.

EUAs dipped below €26 for the first time this week as the market continued to be tested by heightened auction supply and worries about new government coronavirus clampdowns.

UK-based EU ETS trading accounts will be cut off from the end of this year due to Brexit, the British government confirmed this week, while any holders of Kyoto Protocol credits will lose access to those units for several months.

Australian carbon credit issuances slowed to just over 250,000 units this week, while a UN impasse over the future of the CDM could have major impacts on Australia’s voluntary emissions market.

Australia should impose clear restrictions if it moves ahead with crediting Safeguard Mechanism entities for emissions reductions, the Climate Change Authority (CCA) said Friday, aiming not to harm the offset market. 

British finance minister Rishi Sunak is examining proposals for a UK-wide carbon tax when the country’s Brexit transition period finishes at the end of the year, The Times reported on Friday, citing unnamed officials.

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

California Carbon Allowance (CCA) prices this week inched close to their highest levels since the COVID-19 outbreak as activity surged on the secondary market, while RGGI allowance (RGA) values rose slightly on thin volume.

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We are seeking a collaborative, impact-focused self-starter with a passion for and experience in climate and energy to join our mission-driven team as Program Associate, Climate & Energy. The Climate & Energy Program focuses on the global impact of a powerful class of climate “super pollutants” including methane, black carbon, and HFCs.

We are looking for a motivated and dynamic individual to fill the role of Regional Program Manager for Climate Finance in Africa, working as core team member to drive forward the GCA’s ambitions and its role as a solutions broker to create the conditions for successful adaptation.

EUAs fell towards €26 on Thursday, receding further from the previous session's two-week high as traders cast doubts on the influence of MEPs' higher climate ambition and the ability of EU and UK negotiators to reach a Brexit trade agreement before next week's deadline.

California regulator ARB should reduce the invalidation period for offsets, allow regulated entities to trade compliance limits, and implement four new or revised protocols to incentivise additional credit usage in the state’s WCI-linked ETS, according to a report published Wednesday.

Canada’s GHG reduction target may require a CO2 price of almost C$300 ($226) per tonne under the country’s ‘backstop’ fossil fuel levy and output-based pricing system (OBPS) if no additional climate policies are implemented, a government report said Thursday.

The world’s biggest steelmaker ArcelorMittal has decided to permanently close its blast furnace in Krakow, Poland, blaming the coronavirus-induced demand hit, cheaper imports, and higher costs for power and carbon.

A major public green spending programme combined with steadily rising carbon prices would help the world achieve net zero greenhouse gas emissions by 2050 at a moderate cost and with longer-term benefits outweighing those, the International Monetary Fund (IMF) said Thursday.