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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 5 min 44 sec ago
LCFS Market: California prices lift up to 8% after state reveals plans to strengthen regulation
California Low Carbon Fuel Standard (LCFS) credit values jumped on Monday morning after state regulator ARB published its plans to strengthen the environmental performance of the transportation sector climate programme, though some market participants are unsure about how bullish the proposed changes really are.
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RGGI Market: RGAs extend to new year highs on Third Program Review anticipation
RGGI Allowance (RGA) values reached new year-to-date highs through a US holiday-shortened and auction week prefiguring the next Program Review Meeting scheduled later in the month.
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Financial services company makes first fully automated sale of carbon credits
A new blockchain-based platform from a Chicago-headquartered financial firm has completed processing its first fully automated transaction of carbon credits, according to a press release on Monday.
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Verra deactivates 10 carbon credit methodologies, reviewing others
Carbon credit standards body Verra is eliminating the use of 10 VCS methodologies, including a deforestation and low-flow water project type, due to lack of use in the past five years, and is instituting a review of all their methodologies every five years.
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EU’s renewable energy directive set to overcome last hurdle with full Parliament vote
The EU is set to take its final step in approving a revised more ambitious renewable energy legislation as the bill faces a full EU Parliament vote on Tuesday, with most parties likely to vote in favour.
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EU metals sector deploys taskforce to work with EU on aligning with the bloc’s 2050 goals
The European metals industry started a process to establish its own transition pathway in collaboration with the European Commission, two sector associations announced on Monday.
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VCM Report: REDD sinks lower to add further gloom to the market
REDD avoided deforestation credits slipped lower last week to underline the lack of demand and reflecting an increasingly bleak voluntary carbon market as it waits the arrival of the ICVCM’s first batch of Core Carbon Principle labelled credits.
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Investor reduced its exposure to UK water companies due to pollution
Allianz Global Investors has reduced its exposure to UK water companies due to risks associated with them dumping sewage in waterways, an executive at the firm said as the company ramps up its nature-related engagement.
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IMO shipping strategy a major step forward for sector’s climate action -study
The International Maritime Organization’s strategy for the transition to renewable energy is a major step forward in ambition that has overtaken many of the national, regional, and industrial steps already in place, according to research released Monday.
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UK, South Korea commit billions to UN’s Green Climate Fund
Britain and South Korea have respectively pledged $2 billion and $300 mln to the latest replenishment of the Green Climate Fund (GCF), a mechanism established to channel climate finance from rich nations to the countries in the Global South to aid them with climate action.
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Canada-based carbon credit financier rebrands to showcase climate action mission
A Canada-based carbon credit project financier has rebranded to underscore the urgency needed in the global mission to decarbonise economies and the company’s focus on the climate action required.
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Euro Markets: Midday Update
European carbon prices rose slightly on Monday morning despite a relatively weak auction result, as EUAs garnered some support from a strong advance in natural gas after a major Australian LNG producer said there was little prospect of a swift resolution to strikes that have cut gas output.
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Project developer sets its sights on nature-based removal credits
A developer is seeking investment into a new afforestation project in India to boost the supply of removal credits in the voluntary carbon market (VCM), despite uncertainties about the country’s future carbon market.
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INTERVIEW: UK can play leading role in hydrogen production and CO2 storage, says gas pipeline operator
The UK is in a unique position to act as an important hub for hydrogen development in Europe thanks to its pressing need to decarbonise its gas-reliant heating system, wealth of renewable energy for powering hydrogen electrolysis, and ease of access to the North Sea for potential CO2 storage, said one of the country’s leading pipeline operators.
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GE-backed alliance to assess CCUS feasibility in Indonesia
A GE-backed business alliance has been established to develop a carbon capture, usage, and storage (CCUS) value chain feasibility study and joint solutions to decarbonise gas power plants in Indonesia, in a move to position the Southeast Asian country as the industry hub for the region.
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Carbon ratings agencies have valuable role but can improve, finds report
Carbon credit ratings agencies have a valuable role for raising the quality of the voluntary carbon market (VCM), according to a study published Monday of the four main players, though there is room for improvement in their activities and buyers must better understand their work to increase its effectiveness.
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More money and better policy: Executives open up in energy transition survey
Investment into lower carbon energy will need to rise steeply and policy settings improve if the world is to reach net-zero by 2050, but most executives believe they are doing better than their peers, a survey released Monday found.
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EU carmaker subsidiary to acquire carbon credits from Chinese agricultural group
Subsidiaries of a European carmaker and a Chinese agricultural conglomerate have teamed up to generate animal waste management system (AWMS) carbon credits in China's Anhui province.
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Global Biofuels Alliance launches at G20 summit to boost sustainable fuels
India along with several other leaders of the G20 launched a Global Biofuels Alliance (GBA) on Saturday to promote the use of sustainable and cleaner fuels.
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Trio releases reef credit method for grazing land management
A group of Australian companies on Monday released a draft method to allow landowners to earn reef credits from improved grazing land management in a bid to boost soil health and improve water quality at the Great Barrier Reef.
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