Carbon Pulse

Inter-institutional talks on EU carbon market reforms are due to resume in earnest only in October, several key lawmakers told Carbon Pulse this week, making it virtually impossible to meet an initial goal to agree the mammoth Fit for 55 climate policy package in time for this year's UN climate talks.

A Perth-based investment firm has set up a fund that will let investors tap into the growing market for Australian carbon credits.

EUAs fell for a seventh time in the last eight days amid a bearish mood ahead of September's resumption of full auction volumes, while energy prices halted their recent run of declines as Gazprom closed the Nord Stream 1 pipeline for a scheduled three-day maintenance that many stakeholders suspect may be extended as Russia continues to put pressure on Europe's energy supply.

The Shanghai municipal government is set to auction off 1 million CO2 allowances for its emissions trading scheme in early September, with the price floor expected to set near current market levels.

European Commission President Ursula von der Leyen has shrugged off calls by Poland to freeze carbon allowance prices at €30 as a way to help the bloc’s industry cope with soaring gas and power prices. 

China's forestry regulator has warned local authorities to be aware of potential risks associated with forestry and grassland projects in the voluntary sector, saying developers could take advantage of the existing policy vacuum, according to an internal note seen by Carbon Pulse.

Australia’s GHG emissions rose by 1.5% in the twelve months to the March quarter of 2022 from the previous year, reflecting a modest economy-wide increase despite emissions from electricity continuing to fall, government data showed Thursday.

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California Carbon Allowances (CCAs) experienced significant volatility on Tuesday, as bearish influences from the global macro picture, EUAs, and a Golden State clean electricity bill gave way to renewed bidding on two separate occasions.

The Oregon Clean Fuels Program (OCFP) notched a credit shortfall during the January-March period, as deficit generation from petroleum-based fuels outpaced stronger renewable diesel volumes, according to state data published Monday.

Standardised nature-based offsets rallied over the past week last week to extend a recent trend and catch up with over-the-counter trades, but there was little uplift in renewable or technology credit prices.

A major global bank has inked a multi-year agreement with direct air capture firm Climeworks that marks the latest in a string of similar purchases for removals credits from the firms growing portfolio.

A major Canadian bank on Tuesday announced a new exchange-traded fund (ETF) with international exposure to carbon allowance markets, having an initial focus on the EU ETS.

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California lawmakers on Monday evening advanced to the Senate floor a bill to strengthen the state’s 2030 GHG reduction target, while the Assembly turned down legislation that would have required regulator ARB to review the WCI-linked cap-and-trade programme.

Australia can improve the quality of its domestic market and lead the way internationally by setting up a marketplace for tokenised carbon credits, according to the chairman of one of the country’s “big four” banks.

A Berlin-based startup has secured fresh pre-seed funding to build a nature-based carbon credits and impact claims marketplace secured on the blockchain, it announced Tuesday.

The Nigerian government has announced it has started discussions towards the establishment of an emissions trading scheme (ETS) under which carbon output will be capped across certain sectors of Africa's biggest economy.

EUAs tumbled early on Tuesday as the imminent resumption of full auction volumes led to the fewest number of bidders in the daily auction for nearly six years, while energy prices fell as the market awaited details of a Brussels plan to uncouple gas and electricity prices.