Carbon Pulse

Recently-extended cost breaks for Alberta transportation fuel and natural gas consumption might run afoul of Canada’s federal CO2 pricing benchmark, but experts told Carbon Pulse they don’t believe Ottawa is likely to immediately challenge the relief measures in the oil-rich province.

The Nova Scotia government on Monday disclosed the allowance volume on offer for the province’s last regular cap-and-trade auction next month, which unlike the previous sale does not include permits from the scheme’s reserve.

Standardised carbon credits moved higher for a second consecutive week as the roll of two Xpansiv CBL contracts into new vintage eligibility years fed in support to the market, while news that buyer standards body VCMI has adopted CORSIA-eligible units within its rulebook continued to boost related products.

The EU on Monday gave the green light to the latest version of a Dutch scheme to support industrial decarbonisation by subsidising the difference between low-carbon and conventional forms of output, paving the way for other member states despite fears about distorting the bloc-wide market.

Nigeria's federal government has warned against unauthorised carbon trading, making the latest country to clamp down on market activities.

Uzbekistan has received a $46.25 million grant from the World Bank for its Innovative Carbon Resource Application for Energy Transition Project (iCRAFT), in an effort to decrease the greenhouse gas emissions and promote energy efficiency in the Central Asian country and help it access international carbon markets.

European carbon prices continued to trade in a narrow band between key technical levels early on Monday as the market awaited new direction amid the onset of summer, while energy markets were weaker as demand appeared to slacken.

Governments are drastically slashing carbon credit issuance rates from their own cookstove projects and helping craft a new global framework to tackle integrity concerns, moves that could point to an overhaul of a hefty chunk of the voluntary carbon market.

A nature consultancy has published a paper outlining how businesses should enact transformative change to become 'nature positive', proposing a practical framework to help firms understand how to implement biodiversity-friendly measures.

SK Energy, a subsidiary of South Korea's largest energy company SK Innovation, has received government-certified carbon credits with an offset project that cuts emissions by improving energy efficiency during asphalt production.

A New Zealand carbon forestry service company says it has already developed a biodiversity credit financing instrument which could be used in the government’s proposed market-based scheme to restore nature.

A North America-focused forest fund initiated by Sumitomo Forestry, a major forestry group in Japan, has commenced operations with the participation of nine other large corporates from the East Asian country. 

Underground coal mines are expected to bear the highest cost of emission reductions under the reformed Safeguard Mechanism, according to analysis, as the price of Australian Carbon Credit Units (ACCUs) fell further on Monday.

RepuTex is looking for a senior trading analyst to join our Melbourne based team to provide qualitative and quantitative analysis of the Australian carbon market.

Woodside Energy Group has doubled the amount of international credits it surrendered in the last financial year, according to a new report by the Clean Energy Regulator, as Australian companies saw mixed progress in meeting their climate and clean energy targets.

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

An Australian bank has made an equity investment in a local carbon and natural capital investor as part of a successful A$220 million ($147 mln) Series A capital raising, it announced Monday.

A Belarusian group, through former South African President Jacob Zuma, has donated 2 million questionable carbon credits towards Zimbabwe’s nascent emissions trading efforts.

Malawi has ordered a review of all carbon projects in the country, making it the latest African nation to seek more control and possibly a greater share of voluntary credit sale revenues.

Australia should cut GHG emissions by “well above 70%” by 2035 compared to 2005 levels, according to an industry body’s submission to the Climate Change Authority.