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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 43 min 9 sec ago
RGGI Market: RGAs extend to year-highs with steepest weekly transaction volumes for 2023
The rally in RGGI Allowance (RGA) values continued through another week with a high level of spread activity leading to the largest weekly transaction volumes on ICE, in step with the rally in California Carbon Allowance (CCA) values and global macro positivity.
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Climate contributions, not offsets, constitute best approach to raising global ambition -report
Climate contributions divorced from offsetting claims are necessary to increase the number of “high-hanging fruit projects" in cost-prohibitive sectors and unlock deep decarbonisation, a think-tank said Friday.
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VCM Report: Prices drift lower even as net zero pledges continue to rise
Carbon credit prices drifted lower generally in the voluntary market over the past week amid the over-supply of available units, but investment continued to pour into certain sectors to underline a positive outlook amid a steady rise in corporate net zero pledges.
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France votes through law to open up space for biodiversity and carbon credit stacking
The French parliament has voted through a green industrial law that is expected to open up ecosystem restoration projects in the country to biodiversity and carbon credit stacking.
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Spanish election result seen opening up new scenarios for EU climate policy
The result of general elections in Spain on Sunday has thrown the country into political disorder that could last for months and spill over into EU climate policy.
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Southern Europe sees gas generation spike as air conditioning ramps up to battle extreme heat
Parts of Europe have seen ETS-covered fossil generation spike due to higher demand for air conditioning after extreme heat has swept across Southern countries such as Greece, Spain, and Italy, as analysts point to sustained consumption this summer with temperatures set to remain elevated.
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Ryanair signals high EU carbon price risk on future business in new sustainability report
European carrier Ryanair has outlined the main climate-related risks to revenues in a 2023 sustainability report published Monday, with increased carbon pricing cited as "most impactful" on strategy in the firm's net-zero outlook.
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Euro Markets: Midday Update
European carbon prices gave up early gains on Monday morning to stand modestly weaker at midday, as prices consolidated after six successive days of gains ahead of August's annual drop in auction supply, while gas prices held on to early advances.
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European chemicals groups signals dismal outlook for regional output in 2023
Chemical production in the EU is on course to decline by about 8% in 2023 compared to the previous year, with no imminent recovery of demand in the region, a large industry group has warned, as it proposes a new climate manifesto for Brussels to follow during the next legislative cycle to keep the ETS-covered industry competitive.
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Korean renewable firm taps into Vietnam’s renewables market, eyes carbon credits
One of the largest energy solution providers in South Korea is planning to expand its renewable energy business in Vietnam and accordingly secure carbon credits, it announced on Monday.
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Productivity Commission comes out against Australian CBAM
Australia’s Productivity Commission used its latest report to rebuke the idea of the government introducing a Carbon Border Adjustment Mechanism, claiming it to be unnecessary and protectionist for local industry.
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South Korea to subsidise REDD+ feasibility studies for private sector participation
South Korea has launched a funding programme to encourage companies to conduct REDD+ feasibility studies for the private sector, as the country has pledged to secure more forest carbon credits abroad to realise its climate goals.
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Australia Market Roundup: Canberra commits A$50 mln to Indo-Pacific clean energy studies, ACCU issuance up
Australia has committed A$50 million ($33 mln) to support clean energy supply chains in the Indo-Pacific the government announced over the weekend, as the issuance of Australian Carbon Credit Units (ACCUs) rose, according to a regulatory update.
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CP Daily: Sunday July 23, 2023
A daily summary of our news plus bite-sized updates from around the world.
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Brazilian state’s public defender launches legal action over alleged REDD+ project ‘land theft’
The public defender of a forest-rich Brazilian state has launched legal action against several organisations and a local government over allegations of land theft linked to a REDD+ project.
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Stalemate as G20 fails to make progress on renewables, fossil fuel phase-down
G20 energy ministers wrapped up their meeting in Goa on Saturday without any progress on ambition to ratchet up renewable energy production and cut the use of fossil fuels.
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Blue Carbon Project Manager, Forest Carbon – Jakarta
The Forest Carbon's Blue Carbon Program Manager will be responsible for the overall implementation and effective project management of the program's activities in Papua.
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Stakeholders urge Uganda govt to bolster support for global carbon markets participation
Energy sector stakeholders have urged the Ugandan government for bolstered support to solidify the country’s standing in global carbon markets, as ministers acknowledged domestic fragmentation and a need for more regulatory enhancements.
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Producers boost CCA holdings, financials lock-in profits but scoop ACP, RGGI contracts as prices bolt higher
Emitters once again added to their California Carbon Allowances (CCAs) net length as prices made new year-to-date highs ahead of ARB’s public workshop next week, while speculators took profits, choosing to reduce CCA net positions but continuing to amass RGGI Allowances (RGA), data from the US Commodity Futures Trading Commission (CFTC) showed Friday.
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Senior Consultant, Land Use, Climate Focus – Berlin/Rotterdam/Amsterdam
We are seeking a senior consultant to join our Land Use team in Berlin (Germany), Rotterdam or Amsterdam (The Netherlands). This is an excellent opportunity to work with a pioneering, versatile and dynamic team that is committed to make an impact.
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