Carbon Pulse

A European renewables-focused market intelligence firm is seeking to hire several new analysts as part of an expansion of its coverage to compliance and voluntary carbon markets worldwide.

The world could still burn nine million barrels of oil a day and substantial amounts of gas under a mid-century net zero scenario if carbon capture use and storage (CCUS) was more quickly deployed at scale, according to analysis published on Wednesday. 

A firm specialising in direct air capture announced Wednesday it has secured £3 million through a UK government net zero innovation fund.

Tech giant Microsoft announced Wednesday that it has signed a multi-year commitment with direct air capture (DAC) pioneer Climeworks as its first supplier of long-term, technology-based carbon removal.

The UK’s governing Conservative party leadership contest features several climate sceptic candidates in the race to become the next prime minister, but while the new premier is likely to slow progress on climate, they will struggle to dismantle existing policy and the country’s mid-century net zero target.

Two Verra-credited projects were awarded a moderate chance of avoiding or removing a tonne of CO2 by a ratings agency in its latest update this week.

The European Parliament’s industry committee (ITRE) voted on Wednesday to substantially raise 2030 headline targets for renewable energy and energy efficiency – a move in tune with the EU’s overarching objective to wean itself off Russian oil and gas by no later than 2027.

EUA trading activity fell away sharply on Wednesday morning, with the lowest morning volume on the ICE exchange in more than a month as many traders were either absent or awaiting the outcome of the afternoon UK Allowance auction, while energy markets continued to climb as more European countries mulled options to secure energy supplies this winter.

*PREMIUM LISTING - As a Voluntary Carbon Market Analyst you will play a central role in achieving our ambition of becoming a globally leading supplier of analytics and insights supporting the path towards a net zero economy. You will join our highly skilled and motivated team of experts, delivering forward looking analytics combined with deep market expertise and delivered through a state-of-the-art tech platform.

*PREMIUM LISTING - As a Compliance Carbon Market Analyst you will play a central role in achieving our ambition of becoming a globally leading supplier of analytics and insights supporting the path towards a net zero economy. You will join our highly skilled and motivated team of experts, delivering forward looking analytics combined with deep market expertise and delivered through a state-of-the-art tech platform.

*PREMIUM LISTING - As a Lead Carbon Market Analyst you will play a central role in achieving our ambition of becoming a globally leading supplier of analytics and insights supporting the path to net zero. The right candidate has the drive, knowledge and creativity to work operationally while simultaneously scaling the team and coaching and guiding new team members. You will be a recognized thought leader in the field of carbon markets.

This role will identify and quantify new opportunities to undertake new projects that are eligible under the Emissions Reduction Fund (ERF), and other carbon accounting standards, and that will deliver biodiversity and other ecological co-benefits.

The American Carbon Registry (ACR) on Wednesday released the next version of its improved forest management (IFM) protocol, focusing on shoring up the additionality of CO2 mitigation activity and outlining new equations for calculating “removals” credits.

Despite having the world’s biggest portfolio of voluntary carbon projects the VCM is underexploited in India and market participants await direction from the government on issues such as corresponding adjustments (CA), according to a report released this week.

One of China’s five major state-owned power companies has signed a partnership with the government of Qinghai province to develop forestry-based carbon sequestration projects.

South Korea’s monthly CO2 permit auction on Wednesday was oversubscribed for the first time in over a year as the start of the 2022 compliance cycle brings a more upbeat mood to the market.

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

Plans in Europe to place several phased-out coal power plants on standby in case Russian gas supplies suddenly stop would add no more than 1.3% to emissions annually, an environmental think-tank said on Wednesday in findings that suggest the moves will have a limited bearing on climate efforts.

A prestigious British university and a global tech giant have joined forces to launch a research centre for decarbonisation and nature-based climate solutions.

Auction volumes offered at RGGI’s Q3 sale soared with the addition of PA’s quota of allowances, announced Tuesday, amidst ongoing legal machinations between PA state lawmakers and the coal industry.