Carbon Pulse

The Washington Department of Ecology (ECY) on Thursday said linking its cap-and-trade regulation with the California-Quebec market could yield several benefits, and that maintaining an independent scheme could prove an existential threat to the programme.

The NZX has updated the ETS auction calendar for the next four auctions in line with the new price controls and settings recommended by the Climate Change Commission, as market observers look to what the future holds following Saturday's election.

California Carbon Allowance (CCA) prices sagged to a six-week low in recent days as bearish macroeconomic factors intertwined with “roll season”, while Washington Carbon Allowance (WCA) values sank as traders questioned the upcoming November Allowance Price Containment Reserve sale and state’s WCI linkage potential.

A large Brazilian financial services firm is working to set up a trading desk following its inaugural sale of carbon credits to a major multinational bank, the company announced Wednesday.

A scarcity of green hydrogen may force a Spanish steelworks to rely on fossil fuels for longer, diverting public money just weeks ahead of the first auction of the EU's new Hydrogen Bank facility.

EUA prices are set to remain broadly within their current range in the coming two years before resuming their upward trajectory from 2026, as the market works through the additional supply mandated by the EU’s REPowerEU initiative, according to analysts speaking at the Carbon Forward event on Thursday.

A UK-based carbon credit insurer on Thursday announced its clients can now get paid out in replacement offsets, after the company amassed four partners to build a pool of units with which to settle claims.

Multilateral development banks provided worldwide climate finance of almost $100 billion in 2022, up from $82 bln in 2021, with a record more than $60 bln going to low and middle-income countries, according to a report released Thursday.

London-based exchange ICE has seen its first trades in its newly-launched CORSIA-eligible carbon credits, transactions that give an early indication of how correspondingly-adjusted units will be valued.

The EU should first test whether its carbon border adjustment mechanism (CBAM) delivers on its objectives of reducing emissions in third party countries and providing carbon leakage protection for European industry, before expanding its scope within existing, or to additional, sectors, an industry representative said on Thursday.

Officials from Brazil's first homegrown carbon offset standards body will bring in smaller landowners and promote conservation across the country by reducing the significant time and costs involved in applying for credit certification.

Shipping companies may try to avoid paying carbon costs for their routes by engaging in ship-to-ship transfer of their liquid cargo at sea, a maritime industry expert told an audience at the Carbon Forward conference on Thursday.

The Johannesburg Stock Exchange (JSE) has teamed up with infrastructure provider Xpansiv to allow local participants to buy or sell carbon credits and renewable energy certificates held in either local or global registries.

The second funding round organised by the Modern Cooking Facility for Africa (MCFA) initiative will open at the end of November with €16 million up for grabs, designed to provide finance to scale clean cooking solutions across seven African countries.

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The World Economic Forum (WEF) is putting together a buyers club for biodiversity credits to be launched early next year with several major companies already signed up ahead of what is planned to be a pilot auction to be held at an undecided date next year.

More than 60% of EU companies say they have experienced losses due to climate change, an increase on last year, but only around half of those firms are taking action to build climate resilience amid increasingly stringent financial conditions across the region, according to a report released Thursday.

European carbon prices were modestly higher in thin trading on Thursday morning as energy prices resumed their upward march with natural gas rising to a seven-month high and triggering short covering that briefly took EUAs above a key level.

A wide disparity between some carbon credit prices and measures of their quality has been revealed after a rating agency teamed up with a marketplace platform.

Concrete is one of the world’s most emissions intensive industries with few ways to quickly and easily decarbonise, but an Australian junior has partnered with the UK’s largest cement maker with a new technology that could cut them by 15%.