Carbon Pulse

Spot allowances in New Zealand’s carbon market jumped to a record high in Wednesday trade as a persisting lack of supply finally forced buyers to pay higher after weeks of little action in the market.

South Korea’s monthly CO2 auction went undersubscribed on Wednesday, the fifth consecutive month the government has failed to sell out as COVID-19 and policy uncertainties cloud market outlook.

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

Record-setting California temperatures increased the deployment of CO2-emitting electricity generation through the first week of September, though the recent heatwave has yielded few impacts on California Carbon Allowance (CCA) prices.

Green hydrogen could help slash the long-term carbon footprint of global air travel in the coming years, while more stringent carbon abatement targets and a decreased reliance on traditional biofuels will also be necessary to increase the pace of emissions reductions, a conference session heard Tuesday.

The EU carbon market might not be the best policy for cutting road transport emissions but it could be more useful for the shipping sector, the bloc’s climate chief Frans Timmermans said Tuesday.

You will be a key member of our team assessing companies and financial institutions on climate change. This part of our work has had a major impact on the global climate agenda so far and we are expanding our coverage of industry sectors, policy areas and geographies. You will work within teams focused on the Corporate Lobbying and FinanceMap work streams and report to a Director or Program Manager in one of these teams.

Specific groups the Business Development Manager will work with include offset project developers, voluntary and compliance buyers, corporate representatives, other participants in the carbon market, associations, fellow environmental nonprofits and other players in carbon reduction initiatives.

European carbon prices slid along with the wider energy and equity markets on Tuesday, flirting with yesterday's two-week low as increased supply from the daily auctions weighs heavier.

RGGI traders anticipate allowance prices in the Northeast US ETS will stagnate or sink on the secondary market after emitters ramped up purchases during the Q3 auction, following permit values hitting four-year highs this summer.

The European Parliament’s industry committee (ITRE) on Tuesday narrowly backed the raising of the bloc’s 2030 emissions goal to 55%, though opposing MEPs contested the outcome, which could give an early indication of the level of climate ambition sought by the wider assembly.

Poland’s climate ministry on Tuesday unveiled an updated 2040 energy strategy, planning an accelerated shift away from coal power but without giving a phaseout date.

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

Concerns remain around the “murkiness” of the global voluntary carbon trade, but two of the main offset certifiers keeping the market running are confident that a new era of increased participation and scrutiny, including by the financial sector, will bring much-needed transparency and investor confidence.

Financial organisations in China’s Guangdong province and territories of Hong Kong and Macao have founded a ‘Green Finance Alliance’ that has developing a regional carbon trading market as one of its major ambitions.

EUAs hit a two-week low below €27 on Monday as the market struggled to absorb a hefty auction, in what will be the biggest sale supply week of the year so far.

The Western Australia EPA on Monday backed Mitsui’s plans for a new gas-fired power plant that would buy carbon offsets as part of a strategy to put it on a path towards net zero emissions by 2050.

Market observers expect the Australian government’s Emissions Reduction Fund (ERF) will have to pay at least in line with the previous round’s record prices to secure significant emission reductions at this week’s auction.

This position will include improving and managing internal processes for company, developing the company brand and expanding supply by bringing more eligible forestry projects into the portfolio.

The Senior Analyst role within Climate Change Operations underpins the expertise on forest carbon accounting and reporting in the NZETS.