Carbon Pulse

Compliance entities and financials reduced their California Carbon Allowances (CCAs) over annual contract rolling and rebalancing activity, while RGGI Allowances (RGAs) were picked up by regulated entities ahead of the last allowance sale for the year, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

California free carbon permit distributions to industrials increased slightly for 2023 as economic sectors likely saw their production bounce back after the earlier stages of the COVID-19 pandemic, according to data from state regulator ARB published on Friday.

Gold Standard has dismissed the UK government’s statement that the standard body’s carbon credits could be used to mitigate a controversial new coal mine in the UK, branding the offsetting justification as “nonsense” and against its guidance.

2023 is shaping up to be a year filled with climate action from businesses, as new regulations come into place and carbon data becomes key to meeting reduction targets. Rachel Delacour, CEO of Sweep, Europe’s leading carbon management and reduction platform, shares her insights to help businesses get ahead of the curve. 

The Senior Program Officer, Carbon will be the recognized focal point for the project in Lao PDR and will have overall responsibility for timely and high-quality project delivery. The position-holder will provide day-to-day technical and strategic guidance and management, as well as liaise externally to ensure impactful delivery of the project and its outputs.

A French investment bank this week launched an exchange-traded commodity (ETC) contract in Europe that tracks EU carbon prices.

The Canadian government confirmed on Thursday that it would end new direct public support for the international fossil fuels energy sector by the end of 2022, in keeping with a pledge made at COP26 last year.

EUA prices dipped on Friday but still managed a weekly gain, as a supportive energy complex and options-related positioning eclipsed warnings that the recent rally to a three-month high is overdone.

Eight projects for energy infrastructure across Belgium, Croatia, France, Ireland, Italy, Austria, Poland, Romania, Slovenia, and Tunisia are set to receive a total of €602 million from the Connecting Europe Facility after gaining approval from Brussels on Friday.

RGGI's Q4 auction this week cleared at the lowest level in over a year amid weaker demand from compliance entities, according to results published Friday.

A rating agency has warned a cookstove project in Nepal has a moderate chance of achieving CO2 avoidance or removal because of additionality risks, while placing another six projects on watch for a potential ratings change, including three REDD+ projects in Kenya.

UK-based non-profit Global Canopy has cooperated with a number of financial market participants to draw up guidelines for how global family offices can help put pressure on asset managers to rid their portfolios of activities that drive deforestation.

An Indian start-up has raised $4 million in a seed round as it seeks to expand its operations in South Asia, it announced on Friday.

An Australian market firm has updated its base case spot price forecast for Australian Carbon Credit Units (ACCU) in light of the expected changes to the Safeguard Mechanism, as a policy watcher urged the government to expand the scope of scheme’s design.

Bursa Malaysia officially launched its voluntary carbon market (VCM) exchange on Friday, to be known as BCX, an initiative jointly developed with the Malaysian ministries of environment and finance, as the Southeast Asian nation seeks to unlock sources of VCM revenue to help meet its climate and environmental policy goals.

Spot prices and trading volume in China’s national emissions trading scheme both dropped over the past week, with unclear market prospects that observers attribute to possible changes in the proposed post-2020 allowance allocation plan amid opposition from power plants.

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UN body ICAO’s Council has given a jurisdictional REDD+ initiative full eligibility and three other carbon credit programmes conditional eligibility to supply emissions units to the CORSIA global aviation offsetting scheme, while delaying a decision on granting re-eligibility for already-approved standards past the scheme’s current pilot phase.

California Carbon Allowance (CCA) prices moved steadily higher through the week as market participants dissected the odds of lawmakers adopting a stronger 2030 emissions reduction target, while RGGI Allowances (RGAs) traded within a tight range into the last quarterly auction for the year on Dec. 7.