Carbon Pulse

EU industrial companies should set out climate plans featuring emissions intensity goals and planned measures for every five-year period through 2050 to ensure they can continue to receive their full free allocation of carbon allowances, the European Commission said on Friday.

Germany’s plan to tender 24 GW of hydrogen and fossil gas units from 2024 could lead to the release of almost 5 MtCO2 emissions per year as industry is expected to take time to build a low-carbon hydrogen supply chain, analysts told Carbon Pulse.

US tech giant Amazon is among more than 60 companies identified by the Science-Based Targets initiative (SBTi) late on Thursday for falling to meet a deadline in submitting their emissions reduction goals for validation.

A small Oregon carbon services provider has introduced a new independent GHG programme for the validation and monitoring of community and nature-based projects, the company announced this week.

Experts have mostly reacted positively to the British government's publication of pricing tiers for statutory biodiversity credits, underlining that the high costs for this 'last resort' option mean that developers will be forced to consider their nature impact before undertaking projects, while also incentivising a local supply of units to emerge.

First Climate is looking for a Sales Manager North America, based in Germany, to execute the firm's sales strategy within the North American corporate marketplace.

European carbon was little changed on Friday morning, with prices fluctuating around a key resistance level as trading activity diminished sharply after the busiest Monday-Thursday in nearly two months, while UK Allowances consolidated even as the British market was poised to record its biggest weekly drop in almost a year.

The first nature improvement assets are expected to be issued this year by a provider of digital infrastructure for the burgeoning nature-based financing market, which sees itself challenging some of the conventions of the voluntary carbon market (VCM).

Prices for China's carbon permits edged up over the past week with a relatively sustained trading volume, as observers expect activity in the national carbon market to pick up this month after the announcement of carryover rules.

Greece's largest electricity producer PPC reported a 26% fall in fossil burn covered by the EU ETS over the first six months of 2023, compared to last year.

China has expanded the scope of the domestic Green Electricity Certificate (GEC) market through the announcement of new rules on the renewables scheme, a move that could add policy complexity to the country's national offset market.

A New Zealand exchange-traded fund tied to the country’s emissions trading market has seen its value fall further by some NZ$12 million ($7.3 mln) as a result of the destabilisation of the NZU price, quarterly figures showed.

Papua New Guinea has published its REDD+ safeguard guidelines, designed to enforce and ensure transparent and fair benefit sharing and distribution activities for local communities and stakeholders. 

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

California Carbon Allowances (CCAs) experienced a rollercoaster ride in recent days as prices surged on potential cap-and-trade budget cuts and subsequently unwound on profit-taking and auction positioning, while Washington Carbon Allowance (WCA) values once again climbed ahead of the programme's permit reserve sale next week.

The equitable and successful implementation of New York’s forthcoming cap-and-invest programme also hinges on the state adhering to its climate plan framework to transition off gas and thereafter retire fossil fuel plants, an environmental justice (EJ) advocate said Thursday.

US asset managers’ climate ambition appears to have decreased since 2021, coinciding with a recent ‘anti-ESG’ trend in some parts of the country, although globally, firms are also far from being aligned to the Paris Agreement, a think-tank has revealed in its latest report.

A California-based company that uses microorganisms to transform greenhouse gases into sustainable materials that can be used in everyday products has raised $125 million from investors.

A Toronto-headquartered voluntary carbon financier saw its net income turn from red to the black during the second quarter after receiving its first credit issuance and subsequently monetising those units, the company announced Wednesday.

European carbon rallied on Thursday, ending a run of four consecutive declines as aggressive early buying drove prices up by as much as 2.9%, tracking similar sharp gains in natural gas, while UK carbon prices fell to a new record low in thin trading.