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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 38 min 19 sec ago
More speculators flock to Alberta compliance offset market
Two more speculative players have accumulated positions in the Alberta offset market under the Technology Innovation and Emissions Reduction (TIER) regime, building on the credit holdings that existing financial entities have accumulated in the programme.
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UAE asset manager flags plans for $250 mln carbon removals-focused investment fund
A UAE-based asset management firm plans to launch a $250 million fund to invest in carbon credit and other climate-related projects, the company announced on Tuesday as the first of its kind in the Middle East.
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CO2 engineered removal credits offered on two exchanges as market gears up for expansion
Standard body Puro.earth has listed its carbon units on two exchanges amid increasing demand for engineered removal credits, with an electronic payments firm the latest US-based technology company to have made a hefty purchase on Tuesday.
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Corporate biodiversity guidance to become more sector-specific, granular, say experts
Corporate biodiversity guidance and regulation is expected to eventually move towards a more sector-specific and granular model, a webinar heard Tuesday, given the highly localised nature of impact and mitigation action.
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EU nations take further step toward completing Fit for 55 climate package
EU member states formally adopted several key bits of climate legislation on Tuesday, to bring the 27-nation bloc closer to completing its mammoth climate policy package designed to ensure the it reaches its goal to reduce emissions by at least 55% by 2030 compared to 1990 levels.
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Indian parliament passes controversial biodiversity bill
India’s lower house of parliament on Tuesday passed an amendment to its 2002 biodiversity act amid concerns the bill weakens regulatory oversight and will make it harder for the mega biodiverse country to meet its targets under the Kunming-Montreal Global Biodiversity Framework (GBF).
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Kenya lawmakers propose new fees and taxes for carbon projects -media
Kenyan lawmakers have reportedly advanced a bill outlining how carbon credit revenues earned in the country are to be divided, forming part of their work to advance how the African nation will deploy carbon pricing to help meet its climate ambitions.
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Rwanda to ensure 40% of trees planted in carbon projects are indigenous species -media
Rwanda is to issue a directive that will force afforestation carbon projects to plant at least 40% of their trees using native species, local media in the country reported.
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Euro Markets: Midday Update
European carbon prices gradually climbed on Tuesday morning, eventually re-taking the one-month high achieved on Monday as continued accumulation ahead of the August supply cut underpins the market, while energy prices extended gains despite forecasts for lower temperatures.
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Korean GHG emissions fall to lowest in a decade despite 2022 GDP growth
South Korea's greenhouse gas emissions decreased by 3.5% in 2022 despite improved economic sentiment, reaching their lowest level since 2010 supported by a greener energy mix and declining output from carbon-intensive sectors, the government announced Tuesday.
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US EPA releases draft herbicide strategy as part of move to close lag on threatened species work
The US Environmental Protection Agency (EPA) has released for public comment a draft strategy for herbicide use, outlining actions to protect over 900 listed threatened species and designated critical habitats.
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Major Chinese papermaker secures nature-based offset deal ahead of CCER relaunch
The carbon management subsidiary of a major Chinese forestry and paper company has secured a 20-year contract with a state-owned firm to generate domestically-issued offsets that it expects can bring net profits of more than 30 million yuan ($4.2 mln), a move made amid growing optimism about the relaunch of the national programme.
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ACX’s Black Portal completes first three-day OTC trade
AirCarbon Exchange (ACX) has completed the first trade entered and settled through its ACX Black Portal, which it says will help speed up the process of OTC trades, the company announced Tuesday.
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New Zealand slashes NZUs available at auction, raises cost containment reserve price
The New Zealand government has reworked the price controls and settings of its ETS, which will come into effect in December, bringing it largely in line with the recommendations made last year by the Climate Change Commission.
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CP Daily: Monday July 24, 2023
A daily summary of our news plus bite-sized updates from around the world.
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*Compliance Officer, Verra – Remote (Worldwide)
As an integral member of Verra’s legal and compliance team, you will be responsible for providing timely and trustworthy support to all aspects of the organization’s compliance affairs.
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Canada eliminating most fossil fuel subsidies next year, becomes first in G20 to publish approach
The Canadian government announced Monday it will cease providing subsidies to fossil fuel operations and phase out public financing to the sector by 2024 with exceptions for carbon capture projects, drawing a mixed reaction from green groups.
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Brussels seeks input on existing methodologies for certifying industrial carbon removal practices
The European Commission is seeking input on existing methodologies for certifying industrial carbon removal practices, as the bloc moves towards establishing a voluntary framework for these activities.
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California gasoline sales stagnate, diesel recedes in April
California gasoline consumption held steady in April while diesel sales dropped, according to recently published state data, leaving transportation sector cap-and-trade emissions to still trail year-ago levels.
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Alibaba notches 13% cut in emissions, highlights progress towards Scope 3+ goal
Chinese e-commerce giant Alibaba Group on Monday announced a 12.9% reduction in net carbon emissions from its direct operations over the past fiscal year, also revealing for the first time progress towards its ‘Scope 3+’ goal.
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