Carbon Pulse

California Carbon Allowance (CCA) prices moved higher as market participants positioned ahead of next week's rulemaking workshop, while Washington Carbon Allowance (WCA) values were up, with volumes picking up momentarily in the otherwise muted market.

Alberta Technology Innovation and Emission Reduction (TIER) system credit prices dropped below $50 as transaction activity in June slid from all-time highs into the 2023 compliance deadline with record levels of retirements, according to a report published Tuesday.

The UK is facing its first general election in nearly five years on Thursday, with polls positioning opposition Labour leader Keir Starmer as the clear frontrunner to become the next Prime Minister of the country, which would see the right-leaning Conservative government leave power for the first time since 2010.

A climate fund has chosen new nature-based carbon projects, and energy-focused emissions reductions activities, after assessing hundreds of applications among its 2024 cohort, following on from a durable carbon removals selection round earlier this year.

France will support the deployment of offshore wind power thanks to a €10.82 billion state aid scheme approved by the European Commission on Wednesday, despite opposition from the far-right which appears closer than ever to having a majority in Parliament following elections to be held on Sunday.

A voluntary carbon standard has released its new methodology for crediting durable removals from biochar production and storage, which will now face a public consultation.

As the UK faces declining oil and gas production in the North Sea, transitioning the region to offshore wind, green hydrogen, and carbon capture and storage (CCS) would provide energy security and valuable know-how, though the impact on workers and the environment needs to be carefully managed, experts say.

As power demand ramps up and generation becomes more dispersed and variable, electricity grid interconnectors will help to balance supply with demand levels and encourage countries to work together to secure energy supplies.

Half of the landfill gas credits issued by the Climate Action Reserve (CAR) likely fail additionality tests, despite the ICVCM approving the related methodology for its Core Carbon Principle (CCP) integrity stamp, according to analysis from a non-profit.

Ecuador signed a €23.4 million ‘REDD Financial Contribution Contract’ with German development bank KfW on Monday as the country seeks to promote mitigation projects and boost voluntary carbon market (VCM) activity following years of disengagement.

Two Argentine developers have partnered with a Switzerland-headquartered foundation to launch separate biodiversity credit projects in two South American forests over 11,000 hectares, with plans to market them at the upcoming COP16 summit, Carbon Pulse has learned.

The Austrian government is looking at the reforms needed to enable carbon capture and storage (CCS) in the country in an effort to tackle hard-to-abate emissions from sectors like steelmaking and cement.

UK-headquartered nature platform provider Natcap announced Wednesday it has secured $10 million in a Series A funding round to scale its technology for supporting companies in assessing nature-related risks and opportunities.

The EU ETS could end its current phase in 2030 with a total surplus of 1.7 billion allowances, including 900 million permits in various reserves, but progress in reaching targets for green hydrogen could alter this outlook, according to a new study.

Nature-related law cases focused on rights and corporate responsibility are set to increase in the next few years, the Network for Greening the Financial System (NGFS) said on Tuesday in a report.

The UK appears set to enter a new era of stronger, better coordinated climate policy and diplomacy under a Labour government  - although some changes will be soft, and still fall short of what’s needed to gain ground on the country's goal for net zero emissions by 2050.  

EU carbon prices were marginally higher at midday on Wednesday after a fairly volatile morning characterised by strong volume, as an EUA rally after the daily auction appeared to be a reaction to another increase in speculators' net short positions and was not matched by a recovery in natural gas, casting further doubt on the recent correlation between the two markets.

A tree-planting startup has raised €5 million seed investment to expand its voluntary carbon project development pipeline across Europe.

The US state of New York has drafted a plan to advance efforts towards protecting 30% of its land and sea by 2030, saying an additional 1.2 million hectares must be conserved to achieve this target.

A materials science company and a research institution based in Saudi Arabia have announced a year-long research and development partnership focused on CO2 removal via concrete, aimed at generating voluntary carbon credits.