Carbon Pulse

EUA prices fell for a fourth day on Thursday to test technical supports despite rallying briefly after a strong auction, while energy markets weakened as Russia's Gazprom resumed deliveries of natural gas to Europe through the Nord Stream 1 pipeline after completing a maintenance turnaround.

Japan and Singapore have both approached Papua New Guinea seeking a framework under which they would be able to buy carbon credits aligned with Article 6 under the Paris Agreement, according to the PNG Climate Change and Development Authority (CCDA).

The international Green Climate Fund (GCF) has begun the formal process for its second replenishment, following its latest meeting, along with commitments to fund four new projects valued at $380 million.

The Northern Territory (NT) government in Australia and Japanese oil and gas firm Inpex have signed a “statement of commitment” to achieve a “net zero emissions future” as part of an agreement that also involves the expansion of a key gas and LNG project, it was announced on Thursday.

Australian downstream oil company Ampol will expand its “carbon neutral” fuels programme which aims to offset emissions from the sourcing, refining, distribution, retailing, and consumption of its petrol and diesel products, the company has announced.

Exchange operator ICE has acquired a provider of global corporate emissions and climate transition data, it announced Thursday.

Heavy polluters in New Zealand will have their free allocation of NZUs dramatically slashed as the government looks to ensure it can meet its emissions reduction targets.

The Australian resources company Mayur Resources, which had its REDD+ development licence revoked by the Papua New Guinean government, said it will “vigorously challenge” the decision.

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

Analysts offered varying forecasts for Canada’s Clean Fuel Regulations (CFR) average price out to 2030 in a webinar on Wednesday, with changes in regulatory design expected to impact future credit prices.

A still early-stage, but already well funded startup in the Voluntary Carbon Markets space is seeking a Carbon Project Developer with at least 2 years of experience in the area of project development and management for nature-based solutions, e.g. with Verra and Gold Standard projects and methodologies.

Gasoline sales in California declined in April to offset March's uptick, while both gas and diesel consumption posted their first months below 2021 levels so far this year, according to state data published Wednesday. 

US President Joe Biden (D) on Wednesday announced several measures to help kickstart offshore wind developments as part of a suite of forthcoming climate-related executive actions, after Democratic Senator Joe Manchin and all Congressional Republicans have blocked clean energy-focused legislation.

A London-based brokerage has been fined for breaking rules in booking an off-exchange EU carbon allowance trade.

Verra will begin the long-awaited public consultation process on third-party crypto instruments next month after the standards body temporarily halted the tokenisation of its retired carbon credits this spring, the organisation announced Wednesday.

The Bank of Montreal (BMO) has purchased Calgary-based offset developer and sustainability firm Radicle, the companies announced Wednesday, as financial players have yet to relent on taking a stake in the voluntary carbon market (VCM).

An energy efficiency scheme in the US has been given a low chance of avoiding or removing a tonne of CO2 by a ratings agency in its latest round.

A cookstove project in Africa expects to generate 3 million carbon credits over the next seven years after securing new funding.

EU member states should curb their natural gas demand by 15% over the coming eight months from August, the European Commission said on Wednesday in a plan designed to increase the bloc’s resilience in the face of potential Russian gas supply disruptions.

Another Chinese company has been caught falsifying data under the national emissions trading scheme as regional governments continue efforts to identify and stamp out carbon market fraud, though available sanctions against wrongdoers remain weak.