Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 33 min ago
Australia Market Roundup: Bumper ACCU issuance as nearly 800,000 units generated, hydrogen tech awarded ARENA funding
Australia’s carbon market saw a large uptick of Australian Carbon Credit Units (ACCUs) issued Monday as the crediting backlog of human-induced regeneration (HIR) projects continues to wash out.
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Southeast Asian gas plans to balloon carbon emissions, report finds
Vietnam’s two largest undeveloped gas fields, Blue Whale and Block B, could add vast emissions to the atmosphere and are incompatible with climate goals, according to a report issued on Friday.
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New Zealand fund to prop up more decarbonisation projects
The New Zealand government has awarded NZ$33.3 million in funding to projects across the nation in its latest Government Investment in Decarbonising Industry (GIDI) round.
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UK government drives to improve business decarbonisation plans
The UK government has launched a website with a free carbon calculator and a suite of new tools to help businesses in the country track and report on their emissions and cut energy bills amid reports of low take up and shoddy attention to decarbonisation targets.
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CP Daily: Friday August 11, 2023
A daily summary of our news plus bite-sized updates from around the world.
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Brazil incorporates cap-and-trade in $346 bln plan to bolster economy
Brazil President Luiz Inacio Lula da Silva on Friday earmarked an infrastructure investment of R$1.7 trillion ($346 bln), with an emphasis on decarbonising Brazil through a regulated carbon market and issuance of sustainable sovereign bonds.
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Emitters lift CCA, RGA net length as financial players take profits
Emitters added to their North American carbon net holdings as California Carbon Allowance (CCAs) prices traded through a volatile stretch into next week’s WCI quarterly auction, while speculators closed out of net positions in both the California and RGGI Allowance (RGA) programmes, data from the US Commodity Futures Trading Commission (CFTC) showed Friday.
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Shell, KNOC join Korea-Malaysia CCS supply chain venture
Oil major Shell and the Korea National Oil Corporation are among a batch of companies that on Friday joined an ongoing carbon capture and storage partnership between South Korea and Malaysia.
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UPDATE – US government announces largest-ever investment in engineered carbon removal
US President Joe Biden's administration revealed on Friday that it will provide $1.2 bln in funding to advance the development of the nation's first commercial-scale direct air capture (DAC) facilities.
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Euro Markets: Midday Update
European carbon permit prices rose to their highest in eight days on Friday, bringing the benchmark contract level with prices at the end of July amid a resumption of buying activity based on technical and fundamental indicators.
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TNFD study calls for global nature-related public data facility
A global nature-related data facility accessible for the public should be created to support governments, businesses, and civil society stakeholders in drawing up policies, setting targets, and making investments to combat the global nature crisis, according to a study released Friday by the Taskforce on Nature-related Financial Disclosures (TNFD).
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CN Markets: CEA price climbs to fresh all-time high, liquidity increases after emissions verification deadline
CO2 allowance prices in China’s carbon market reached almost 70 yuan ($9.68) in the past week, the highest level seen since the market started in 2021, with a significant increase in trading activity after regulated entities completed their annual emissions verification work, while the offset market also saw improved liquidity despite the limited supply.
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ANALYSIS: China’s long-suspended voluntary market moves one step closer to relaunch, confidence returns
Participants in China's carbon offset market see a potential comeback for the long-suspended national programme later this year, with a recent policy document shedding some light on how one of the world's largest voluntary schemes will proceed in the Paris era.
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NZ business, climate groups call for urgent clarity on ETS reform proposals, outcomes
New Zealand sustainable business and climate groups have backed the intent of the government’s review of the ETS, but in consultation submissions called for “urgent” clarification on some of the key policy options proposed and Wellington’s desired outcomes for the review.
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Advisor International Carbon Policy & Markets, Carbon Growth Group – Sydney/Melbourne/Hong Kong
Carbon Growth Group offers the opportunity for a Carbon Market Advisor to help realise and sustain the group’s ambitious growth plans.
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Pulp and paper majors launch Amazon biodiversity protection programme
Two major players in the global pulp and paper industry have partnered to launch a pilot programme to protect biodiversity in the Amazon region.
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Chevron invests in carbon sequestration research projects in Western Australia
Chevron has announced investments in two carbon sequestration research projects in Western Australia, it announced Friday.
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CP Daily: Thursday August 10, 2023
A daily summary of our news plus bite-sized updates from around the world.
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WCI Markets: CCAs advance through volatile week before Q3 auction, Washington prices steady amid allowance reserve sale
California Carbon Allowances (CCAs) veered higher through another week of volatility as traders attempted to square the market's recent ARB cap-and-trade workshop-inspired rally with the Aug. 16 quarterly auction, while Washington Carbon Allowances (WCAs) remained unchanged even as traders expected reserve sale volumes to sell out at this week's offering.
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New York faces distinct advantages, drawbacks in aligning cap-and-invest programme with RGGI -expert
New York’s continued participation in the power sector RGGI carbon market would aid the development of the state’s economy-wide cap-and-invest system by ensuring programme stability and fostering greater regional climate ambition, though separating from RGGI could yield a larger in-state emissions cap and avoid multiple carbon prices, an expert said Thursday.
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