Carbon Pulse

Canada outlined ambitious plans and their role in hosting the largest global biodiversity UN convention at a technical briefing on Friday, having released a slew of domestic initiatives in the run-up to the Montreal conference scheduled from Dec. 7–19.

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

EU member states clawed back nearly 5 million free carbon allowances in November that had been allocated to heavy industry and heat producers for 2022, data shows.

Compliance entities disposed of California Carbon Allowances (CCAs) in the aftermath of the Q4 WCI auction result publication, while financials lengthened their WCI holdings and dumped RGGI permits in a reversal from previous weeks, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

A carbon credit ratings agency has this week reaffirmed its scores for six Turkey-based hydropower projects and two Brazilian forestry schemes, while assigning one new project rating.

KraneShares' carbon-focused exchange-traded funds mostly reduced their holdings across global cap-and-trade markets as they rebalanced and shifted positions further out on the curve this week, data from the fund showed Friday.

An energy company with a large stake in Guyanese offshore oil exploration announced Friday it will buy at least $750 mln in carbon credits from the country over the next 10 years, marking the first sale of offsets from the jurisdictional-scale Architecture for REDD+ Transactions (ART) programme.

The European Commission has greenlighted France's climate-related ban on domestic flights with train alternatives of two-and-a-half hours or less, a move welcomed by campaigners as a step towards EU-wide restrictions on shorter journeys with viable alternatives.

EU carbon prices reverted to a narrow trading range amid thin screen-based trading as participants appeared to focus on administration and account management after three days of volatile and active price action, while energy markets were also relatively quiet.

Trading volume in China’s national emissions trading scheme doubled from the previous week thanks to the contribution of four block trades, as spot prices edged down over the past five trading days.

The price for New Zealand carbon allowances closed lower on Friday, with the government yet having to announce which price settings it will adopt for the emissions trading scheme next year.

Sarawak’s inaugural forest carbon project will go ahead in early 2023, the first since a local law was adopted in May to set up a carbon market in the Malaysian state that will be guided by international protocols.

Australian Carbon Credit Unit (ACCU) issuance rose in the Clean Energy Regulator’s latest update, as Sydney-headquartered global carbon project developer New Forests has launched a fund aiming to raise A$600 million ($340 mln) to go towards forestry investments.

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

German oil and gas producer Wintershall Dea has signed an agreement with other companies to develop a CO2 hub in the Danish North Sea, a project that will be linked to the giant Project Greensand offshore CCS project, it was announced on Thursday.

California's forest offset projects are not seeing more carbon stored within them or lower logging levels, according to scientists, raising concerns that these initiatives largely ineffective.

The Climate Change Program Evaluation Branch of the Industrial Strategies Division has a position available for a motivated Air Resources Engineer (ARE) to conduct a variety of activities related to development, implementation, and analysis of the California Air Resources Board’s greenhouse gas (GHG) emissions reductions programs, principally a new Net-Zero Strategy for Cement Use in California.

The sensitivity of equity markets to carbon pricing risk has increased over the past 12 months due to rising energy prices and geopolitical tensions, according to a new study.

A major forest carbon developer has reportedly withdrawn from a project in Washington state that was forecast to yield almost 1 million voluntary credits.

California Carbon Allowance (CCA) prices fell this week as traders rolled their positions further out on the curve before surging back on Thursday, while RGGI Allowance (RGA) values declined on similar activity ahead of next week’s quarterly auction.