Carbon Pulse

Prices for forestry conservation carbon credits held steady on Wednesday despite the publication of damning reports about Verra-accredited REDD+ projects that the standards body has refuted as untrue.

California Low Carbon Fuel Standard (LCFS) credit values this week continued to sink towards 5.5-year lows as traders pointed to depressed short-term fuel consumption, strong credit generation expectations for the third quarter, and uncertainty regarding the programme’s revised 2030 climate target.

Growing economic pessimism, increased borrowing costs, and policy uncertainty have forced many European carbon market participants to either change the way they trade EUAs or to reduce their exposure to allowances, as speculators in particular appear to be backing away from the market amid the clouded outlook for 2023.

Experts are bracing for increasing legal action linked to biodiversity in the coming years, the WEF annual summit in Davos heard on Wednesday, taking as a cue the recent rise in litigation against big companies and governments over their climate-related actions or inactions.

A global consultancy has launched an academy and series of training courses aimed at plugging the training gap for firms when dealing with Scope 3 emissions, it announced Wednesday.

As a Senior Carbon Market Analyst you will work with colleagues within the Accountability Unit, the Senior Associate for Natural Carbon Capture and other colleagues to further develop and implement an accountability unit strategy in the area of carbon markets.

EUAs jumped to a six-day high on Wednesday morning, repeating the pattern of the previous session amid rising gas and power prices and as participants suggested the market was roiled by a short squeeze.

The EU must toughen a law regulating the bloc's building stock to ensure overall climate goals are met, business and investor groups urged this week even as legislators are set to include the sector in a new carbon market.

Experts in biodiversity finance speaking at a meeting of the Coalition for Private Investment in Conservation (CPIC) expressed optimism that the global biodiversity framework agreed at COP15 would help to channel steady flows of private finance into conservation and restoration as well as scaling the nascent crediting market.

The United Arab Emirates (UAE)’s Abu Dhabi National Oil Company (ADNOC) has signed two deals, one involving a pilot project to mineralise CO2 in rock formations, and the other to create new markets for hydrogen and promote global clean energy value chains, at Abu Dhabi Sustainability Week, the Gulf state's national oil company announced on Tuesday.

The price for Australian Carbon Credit Units have soared by nearly 9% in the week following the release of the government’s final consultation of its Safeguard Mechanism framework, while the Clean Energy Regulator has made its first credit issuance for the new year.

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

A US-based climate biotech company on Tuesday announced it has completed a fundraising round that will accelerate the deployment of some 4 million photosynthesis-enhanced tree seedlings, with the firm’s CEO seeing a need for carbon removals-focused registries as its technological innovations continue.

Data and market infrastructure provider ICE is launching a first-of-its-kind futures index for carbon-neutral power in the US that will include the California Carbon Allowance (CCA) and RGGI Allowance (RGA) markets.

Carbon emissions from California's electricity sector through November nearly matched levels for the same period a year earlier, even as natural gas-fired generation climbed and output from renewables and large hydro retreated, data published Friday from network manager California Independent System Operator (CAISO) showed.

Another tool for analysing companies’ impacts and dependencies on nature was launched in Davos on Tuesday, with the UN Environment Programme (UNEP) and sustainability intelligence firm S&P Global Sustainable1 announcing the release of their Nature Risk Profile methodology.

Quebec’s initial free allowance distribution for 2023 increased from the previous year, while data showed the province's environmental ministry handed out more permits for 2021 emissions than it previously disclosed.

European Commission President Ursula von der Leyen called for closer ties with the US on clean tech subsidies during a speech on Tuesday, while setting out details about a Brussels plan to ensure the EU gets better at nurturing its own industry while meeting net zero goals.

The average age of retired carbon credits fell by three years in 2022 as corporates sought fresher vintages, helping to push the primary value of the voluntary carbon market up 30% last year, analysts noted in a webinar on Tuesday.

RGGI Allowance (RGA) prices recovered some ground with increased activity heading into the second week of the year, even as concerns remain over programme review delays and legal challenges to Pennsylvania’s linkage to the market.