Carbon Pulse

The International Seabed Authority (ISA) wrapped up three weeks of negotiations in Jamaica Friday with no decision on deep seabed mining, denying the mining industry the green light to go ahead for at least another two years.

Two major Japanese companies have signed MoUs with a carbon project developer in Kenya to fund the expansion of its business and market a share of the resulting carbon credits to buyers in Japan and elsewhere in the Asia-Pacific.

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

Emitters favoured this year's California Carbon Allowance (CCA) vintage contract as prices stalled prior to a workshop-fuelled rally, while financial players went in the opposite direction on the V24 contract and also picked up a significant amount of RGGI Allowances (RGAs), data from the US Commodity Futures Trading Commission (CFTC) showed Friday.

This role involves the development and management of the KliK portfolio of Article 6.2 greenhouse gas mitigation programmes globally.

The candidate will be responsible for leading the structuring of initiatives associated with climate change, advising internal stakeholders on project development, and evaluating international investment opportunities in global voluntary carbon markets. They will also be responsible for structuring and modelling international carbon offset projects, evaluating funding options, negotiating project documentation, and conducting day-to-day interactions with business units in different jurisdictions.

A meeting of G20 environment ministers ended late on Friday without agreement on major climate issues, though the politicians were keen to stress the potential of emissions trade to enhance climate action despite being divided on whether to discuss the EU’s carbon border measures.

Advisory firm Finance Earth is launching the first nature-based solutions blended finance fund in the UK, a venture it co-designed with investment manager Federated Hermes and with proposed seed funding from the UK's environment agency.

The European Commission published on Friday its new “closer to nature” guidelines as well as providing guidance on ecosystem payment schemes as part of its strategy for improved management of forests across the 27-nation bloc.

Multiple impediments that are holding back demand for credits in the voluntary carbon market (VCM) include a lack of education on the part of potential buyers, the impact of bad press, the current economic climate, and buyer reluctance to sign up to ongoing carbon credit purchases, according to the head of carbon markets at a UK-based bank.

EUAs continued their retreat from a mid-week five-week high on Friday and were on course for a 3% weekly loss by midday, even as the August halving of auction supply looms.

Liquidity improved in China’s carbon market over the past week along with an uptick in prices thanks to the contribution of three block deals, while offset developers are placing bets on forestry projects ahead of the relaunch of the national voluntary programme.

The Australian state of Victoria has announced it will ban gas connections in new homes and public buildings from next year as it races to meet its ambitious 2035 and 2045 emission reduction targets, while the spread between generic and human-induced regeneration (HIR) Australian Carbon Credit Units (ACCUs) widens.

The Malaysian government has released the first part of its Energy Transition Roadmap, identifying 10 flagship projects that it says will help generate major investment opportunities to help the country achieve its climate goals.

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

California will factor in the viability of nascent low-carbon technology roll out and importance having a permit bank as it weighs steeper cups to cap-and-trade allowance budgets over the remainder of the decade, a senior official with state regulator ARB said Thursday.

Using North American automatic programme adjustments in the design of New York’s cap-and-invest scheme, rather than the supply-responsive approaches that their European counterparts use, would better serve to ensure programme stability, experts said Thursday.

California Carbon Allowance (CCA) prices barnstormed as much as 10% over the past two days to new record highs after the state published larger-than-expected scenarios for cutting cap-and-trade allowance supply, while Washington Carbon Allowance (WCA) values climbed ahead of the programme's permit reserve sale next month.

A top EU court has ruled against a Swedish company’s bid to stay in the EU ETS despite its exclusively biomass-fueled operations that had resulted in the facility having almost no reportable CO2 emissions.

Three EU governments are trying to direct public money towards more fossil fuels, rather than steering away as the 27-nation bloc’s overarching climate strategy requires, a report showed on Thursday.