Carbon Pulse

New Zealand carbon allowances have shed 4.3% this week, dipping below NZ$27 in Wednesday trade as emitters sold off permits, preparing to pay the NZ$25 fixed price option at the May compliance.

Carbon emissions from facilities regulated by Australia’s Safeguard Mechanism have increased 60% above 2005 levels and are set to balloon further over the next decade as major emitters are not required to reduce output under the policy, analysts Reputex said Wednesday.

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Voluntary offset projects on US forested and agricultural lands require greater amounts of private and public support and investment to stimulate emissions abatement and economic growth because a national carbon pricing system has failed to materialise, experts said Tuesday.

California and its supporting organisations argued Monday that the US Department of Justice (DOJ) has failed to show how the state’s carbon market linkage with Quebec violates the US Constitution, and sought a judgement in their favour ahead of a hearing next month.

The Virginia House of Delegates approved two bills on Tuesday to implement the state’s RGGI-modelled power sector ETS regulation with state-run allowance auctions, but several progressive Democrats broke ranks to oppose the legislation as it heads to the Senate.

EUAs inched further above €23 early on Tuesday as a fairly strong auction and rebounding energy complex lifted sentiment.

Italian luxury clothing and accessory producer Gucci has bought 500,000 forestry carbon credits from Cambodia, local media reported, citing a government spokesperson.

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German prosecutors on Monday reissued an arrest warrant for a British businessman suspected of masterminding a €125 million tax fraud using the EU ETS.

Existing RGGI states will likely support Pennsylvania’s plan to include an allowance adjustment mechanism at the end of ETS compliance periods because it mirrors carbon market language adopted by New Jersey, regulatory sources said.

Oregon Democrats intend to send a WCI-modelled cap-and-trade bill out of committee later this week amid a slew of Republican amendments and growing fears of a second consecutive GOP walkout.

A three-way tie in this weekend’s Irish general election could have a major impact on the country’s carbon pricing programme, with the party leading in the yet-to-be-finalised vote count having campaigned against the existing government’s planned CO2 tax increases.

Switzerland will buy 5 million UN carbon credits as part of a plan to cover recently-discovered chemical plant emissions that have potentially been discharged for decades.

Two of Europe’s biggest low-cost airlines have reported a dip in in-flight emissions to start the year.

De Beers is looking for a head of carbon neutrality to develop a credible carbon neutral strategy and a viable Group-wide Carbon Neutral Roadmap (CNR) with agreed milestones to achieve carbon neutrality by 2030. They will lead a collaborative team of technical professionals to implement the CNR across the organisation and grow the organisation’s carbon expertise and best practice.

Business Unit: De Beers Consolidated Mines Discipline: Engineering Site: Venetia Mine

EUAs dipped towards €23 early on Monday as a confluence of bearish technical and fundamental factors led experts to predict further falls.

The Programme Officer will be an integral member of the Energy Programme, which includes the Energy Market Initiative and the Coal Initiative.

This position will contribute to the work of the British Embassy’s COP Climate Change and Clean Growth Unit, including diplomatic action to support delivery of objectives related to the 26th Conference of the Parties to the UN Framework Convention on Climate Change (COP26) in November 2020, which the UK will host in Glasgow in partnership with Italy.