Carbon Pulse

Compliance players shed California Carbon Allowance (CCA) holdings as speculators did the opposite, while both entities reduced their RGGI Allowance (RGA) and Washington Carbon Allowance (WCA) net length, US Commodity Futures Trading Commission (CFTC) data showed Friday.

A monthly report by a carbon market analysis firm revealed lower expectations for California Carbon Allowance (CCA) prices, with Washington Carbon Allowance (WCA) values also expected to slide, while the outlook for RGGI Allowances (RGAs) remained the same.

Standards body and registry Verra on Friday halted issuances for both Kasigau Corridor REDD projects in Kenya, initiating an investigation into the activities after it was made aware of what it said were serious allegations of physical and sexual abuse.

A major US veterinary pharmaceutical company and an Indianapolis-headquartered startup announced on Thursday the verification of credits for sale through the latter's cloud-based platform.

The Brazilian federal government has submitted stronger Nationally Determined Contribution (NDC) targets to the UNFCCC, increasing the country's ambition to reduce emissions - the first official change to its national emissions plan since President Inacio Lula da Silva was elected in Oct. 2022.

The Council of EU member states is firming up its largely favourable position on whether to obligate oil and gas firms to fund the bloc’s CCS infrastructure as part of the bloc’s Net Zero Industry Act, with Denmark and the Netherlands wanting to include provisions that would also safeguard non-oil and gas ‘front-runner’ companies.

US tech giant Microsoft has stressed the need for other buyers to join its effort to scale up emerging technologies such as direct air capture and enhanced rock weathering through the purchase of carbon removal credits, with the company's removals portfolio executive stating that a group effort is required to scale up the industry and bring down costs.

The UK government has earmarked £65 million to invest in five pioneering projects aimed at heating homes by harnessing waste heat from data centres.

European carbon prices were modestly firmer at midday Friday in relatively quiet trading after Thursday's volatile €3 move, as the market digested mixed technical signals after yesterday's fall generated a potential bullish reversal, while the main energy markets advanced for a second day.

The EU will provide funding for an Italian firm to adapt its existing approach for biodiversity credits, with the company now seeking to take advantage of opportunities emerging from European-wide corporate disclosure rules.

India's Ministry of Power has launched a National Efficient Cooking Programme (NECP) to distribute 2 million induction cookstoves in order to revolutionise cooking practises in the country while slashing carbon emissions.

Japan has started a first piloting phase for companies seeking to generate certificates by supporting government-certified biodiversity projects that they can use in reports under the Taskforce on Nature-related Financial Disclosures (TNFD).

CO2 allowance prices in China’s carbon market fell below the 80 yuan ($10.93) benchmark over the past week after hitting a fresh all-time high, with trading volume remaining stable amid continued compliance demand.

The body guiding the Paris Agreement’s carbon crediting mechanism has hastily scheduled an extra meeting for later this month after this week’s talks broke without sufficient progress.

Australia’s domestic gas pipelines could take up to 10% hydrogen blended into the natural gas stream, according to a report released Friday, which could eventually be increased to 100% to speed decarbonisation, add new jobs in the state, and ultimately ensure gas pipelines remain viable through the energy transition.

China is deepening power sector reform by speeding up the construction of the spot electricity markets, a move considered crucial to make the transition towards market-based electricity pricing and improve the effectiveness of the national carbon market.

New Zealand’s Electoral Commission has released the results of the special votes from last month’s election, showing that the National party and Act will not get a majority together, meaning they will need NZ First to form government.

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

Barclays is reportedly rebuilding its presence in the carbon market after retreating from them a little over a decade ago.

A British tribunal has upheld a £24,200 penalty against a Bulgarian airline for failing to surrender sufficient carbon allowances under the UK ETS.