Carbon Pulse

The premium for UK Allowance prices over EUAs has evaporated after rising to over €32 in mid-2022, as UK emitters are thought to have largely finished replacing forward hedges in European permits with the British equivalent and the impact of a deeper recession begins to be felt.

German carrier Lufthansa will begin offering more expensive flights to customers with their emissions fully offset via a combination of a majority of carbon credits plus some sustainable aviation fuel (SAF), it announced Monday.

A senior politician in the forest-rich Democratic Republic of Congo (DRC) has submitted a proposal to introduce a domestic carbon tax, establish an authority to govern market involvement, and push forward on the implementation of the country's nationally determined contributions (NDC), as the African nation seeks maximise revenues from its natural resources.

The European Commission on Monday adopted rules seeking to define what constitutes renewable hydrogen as part of a fast-track lawmaking process.

EUA prices dropped away on Monday morning in light trade as traders awaited this week's European Parliament vote on the REPowerEU initiative, and amid a wider energy market sell-off as recovering gas supply and forecasts for milder weather were expected to depress fuel and power prices.

A European-based project developer has launched a climate data analytics unit to help organisations decarbonise, also appointing a head of the new branch.

GHG emissions from future onshore shale gas production in Australia’s Northern Territory (NT) could largely be offset with the use of carbon credits within Australia and use of domestic mitigation technologies, in most cases, although a high production scenario would require the use of international offsets as well, according to a government scientific agency.

The Project Manager will lead a pilot project to develop a local carbon program that funds and delivers revegetation projects that are focused on environmental, social and economic co-benefits in our region.

The Australian Broadcasting Corporation (ABC) has reported that Verra has suspended a REDD+ project in Papua New Guinea and will conduct a review of it, in light of previous criminal charges laid against the developer’s chief executive.

A key Australian senator has urged the government to publicly release the carbon estimation areas of crediting projects, as a Climate Analytics report questioned the efficacy of land-based offsets in the Safeguard Mechanism.

Ethiopia has signed a $40 million agreement with the World Bank to access funds from a sustainable forestry programme to reduce emissions by tackling deforestation and land degradation, the multilateral development bank announced.

A London-based brokerage has lost its appeal against a British court ruling ordering it to pay nearly £10 million in compensation to liquidators for its involvement in an EU carbon trading fraud scheme.

*PREMIUM LISTING - As our structured carbon finance lead you will be working with project developers as well as investors to structure long-term carbon investments and support in ongoing deal processes and due diligences.

*PREMIUM LISTING - As our project sourcing lead you will primarily focus on originating early-stage Nature-based carbon projects.

The national authority in charge of Papua New Guinea’s carbon market regulations was raided by the country’s fraud squad on Friday, sparking concerns that its work to create a regulatory framework for the market could be impacted.

Some of the world's largest corporations are failing the climate credibility test, an analysis published on Monday found, pointing to shortcoming related to dubious “net zero” claims, marginal progress towards decarbonisation, erroneous use of carbon offsets, and a lack of transparency across companies such as Amazon, Walmart, PepsiCo, and Nestle.

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

A summary of legislative, regulatory, and policy action on carbon, clean fuel standard, and clean energy markets at the US federal and subnational levels this week, including a proposal for the Washington state government to sell carbon offsets, and the return of a CO2 tax and dividend bill in Hawaii.

A rating agency has downgraded three Verra-accredited Brazilian REDD+ projects, amid shaken market confidence in the avoided deforestation market following reports of widespread over-crediting. 

The transfer of big-emitting assets from publicly-listed firms into private ownership is on the rise as increased shareholder scrutiny tempts companies to offload facilities to those under no obligation to disclose their carbon footprint, with such carbon arbitrage posing a real threat to climate goals.