Carbon Pulse

Carbon Vista, a joint venture between the Nigeria Sovereign Investment Authority (NSIA) and energy and commodity trader Vitol, has signed deal with Saudi Arabia’s Regional Voluntary Carbon Market Company (RVCMC) to channel climate finance into Nigeria.

The EU’s 27 national energy ministers failed to agree a unified stance on the bloc’s electricity market reform proposal on Monday as several nations refused to extend subsidies to coal power plants due to climate concerns.

REDD+ avoided deforestation prices continued to tick higher over the past week, but the avoidance credit market was a mixed bag of slight falls and gains as the overhang of available credits continued to grow, although nature-based removals commanded high prices.

The problem with carbon offsetting as a means for companies to bear responsibility for their emissions is not the concept itself, but its current implementation. Rather than limiting the use of carbon offsetting by banning terms like “carbon neutral”, policymakers should drive forward reforms to improve the quality of the carbon market, writes Lasse Leipola of Finnwatch.

The voluntary carbon market will consider credits tagged as aligning with the core carbon principles (CCPs) as a "minimum bar" on which to build, according to the CEO of an exchange.

The ecological success of the voluntary biodiversity credit market will be almost entirely determined by the quality of the governance mechanisms and the measurement methods used, according to a leading biodiversity finance researcher.

This role will be responsible for developing and deepening customer relationships in parallel with managing the Carbon and Biofuels sales funnel with a focus on the lead to contracting process.

This portfolio will be involved with a range of deal negotiations and assist with development of new contracting opportunities including: renewable power and environmental offtake agreements, energy storage offtake agreements, forward electricity derivatives, system security agreements, long term carbon project offtakes, and structure supply agreements to major end use customers.

European carbon prices fell for a third day on Monday along with natural gas though the correlation between the two markets appeared to loosen, with EUAs finding some technical support despite worsening fundamental data while gas continued to slide after its big technical gains over the past two weeks.

Adnoc, the state-owned oil company of the UAE, is to set up a desk to trade carbon credits, people familiar with the matter told Bloomberg.

China's environment ministry has published a set of draft policy regulations for the 'ultra-low carbon' transformation of the domestic cement industry, signalling the government's tighter control over one of its biggest-emitting sectors that is also set to be included in the national carbon market.

Swiss citizens on Sunday approved the introduction of a climate law to reach net zero emissions by 2050, two years after rejecting a similar bill on cost concerns.

Two digital fintech companies are collaborating on an integrated solution for banks and corporates to track and account for the carbon footprint of their digital assets and any aspect of their value chain, they announced Monday.

A major steel producer has joined an ongoing partnership focused on developing a Japan-Malaysia CCS value chain implemented under Japan’s Asia Energy Transition Initiative (AETI).

A government-imposed ban on new connections and setting a hard phase-out date should be the first step in Australia’s journey to weaning itself off natural gas, or risk failing to meet its climate goals, a report has warned.

Creating separate markets for emissions reductions and carbon removals is one of several drastic options considered by the NZ government, as it on Monday launched two brand new consultation processes to mend its stuttering emissions trading scheme.

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

Ahead of a key meeting, the World Bank has outlined how introducing a carbon tax on international shipping could raise up to $3.7 trillion through 2050 to finance the decarbonisation of the sector.

Three high-ranking executives, who previously worked for the Dublin-based fund services giant Waystone, have launched a new agtech venture capital firm that is exploring the possibility of establishing a blockchain-based carbon exchange.

Speculators raised their net holdings of California Carbon Allowances (CCAs) this week as producers took advantage of a steady price increase and reduced CCA net interest, but picked up RGGI Allowances (RGAs) despite a lack of momentum in the US Northeast power sector carbon market, data from the US Commodity Futures Trading Commission (CFTC) showed Friday.