Carbon Pulse

Investment manager KraneShares on Wednesday chopped allowance holdings in its flagship global carbon exchange-traded fund after disclosing an annual dividend that significantly exceeded its payout to shareholders during the previous year.

A New York-headquartered investment manager on Wednesday applied with the US Securities and Exchange Commission (SEC) to register a carbon-focused exchange-traded fund in the US, having already done so earlier this month in Australia.

Outgoing Brazilian President Jair Bolsonaro this week edited a provisional decree to make it easier for public forest concessions and conservation units to generate voluntary carbon credits.

The Indonesian Ministry of Environment and Forestry (MOEF) has validated the first REDD+ project under the country’s new carbon trading regulation, marking the first step in restarting offset generation after the government suspended issuances earlier this year as it crafted the rule.

California regulator ARB in 2022 granted the smallest amount of compliance offsets in eight years, though the number of these credits with direct environmental benefits to the state (DEBs) increased over 2021 levels, according to state data published Wednesday.

The Indian Energy Exchange (IEX) on Tuesday announced it has established the International Carbon Exchange, a wholly owned subsidiary that will serve the nation’s emerging domestic voluntary carbon market as well as foreign carbon offset buyers.

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

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Compliance players reduced their California Carbon Allowance (CCA) holdings this week as entities' V24 positions became public, while financials continued to scoop up WCI permits, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

US lawmakers on Friday passed a $1.7-trillion spending bill to fund the federal government, which among its many provisions includes establishing a programme to help rural stakeholders participate in the voluntary carbon market.

The World Bank Board of Directors on Thursday approved a $500 mln project to help Brazilian companies implement credible GHG reduction practices and access “high-quality” carbon markets.

Environmental organisations and market participants are at loggerheads over California regulator ARB’s Low Carbon Fuel Standard (LCFS) reform scenarios that may phase out credit generation from renewable natural gas (RNG), though stakeholders have largely formed a united front in wanting to beef up the stringency of the transportation sector programme, according to public comments.

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European carbon prices posted a 6.6% weekly gain as the market wrapped up ahead of the holiday break, with the benchmark price settling 10 cents higher on the day after encountering selling interest above a key level before trading activity petered out after the 1300 GMT settlement, while energy markets drifted lower again as concerns over supply constraints continued to ease.

A drop in power and gas consumption due to high energy prices saw EU CO2 emissions fall to a 30-year low in November despite sustained strong coal demand from the power sector, according to a report from a non-profit.

Australia on Friday published draft legislation for its planned voluntary biodiversity market, with the main elements unchanged since the initial draft was released in August, ignoring warnings that the scheme as designed is likely to be a commercial failure.

The UAE has stepped up its hydrogen plans after Masdar, the country’s biggest renewable-energy firm, teamed up this week with Germany’s Uniper to build a new plant in the Middle East country.

Trading volume in China’s national emissions trading scheme reached a new high since the end of the previous compliance cycle over the past week due to a significant contribution of block deals, though spot prices continued to drop over the period.

The New South Wales state government on Friday announced a new target of cutting greenhouse gas emissions 70% below 200 levels by 2035, while the Clean Energy Regulator in its last issuance of the year distributed 325,000 new Australian Carbon Credit Units (ACCUs).