Carbon Pulse

Plots of tropical rainforest and peatland put up for sale as oil blocks in the Democratic Republic Of Congo (DRC) would likely be sold cheaply, an analyst told Carbon Pulse on Monday, bolstering the hopes of a group of carbon crypto activists who want to use the power of carbon markets to stop big oil.

VERs were steady for prompt and nearby offset prices this week, maintaining the uptick seen at the end of the previous week, while later dated vintages for nature-based credits climbed higher.

An offset project developer and carbon credit vendor has opened an account with a registry with the aim of building out several tree planting and sustainable charcoal projects in South America.

The Climate Investment Analyst will support CI’s Conservation Finance Division investment activities of the Carbon Finance team, which is responsible for developing the institution’s carbon pipeline of investible avoided deforestation, restoration, improved forest management, and blue carbon initiatives.

Germany has issued a tender for a contract to auction EU Allowances and EU Aviation Allowances for the second half of the present phase of the bloc's carbon market. 

EUAs rose to a new six-week high on Monday morning as the momentum generated by the reduced auction programme in August continued to drive the market despite very low volumes, as energy prices also moved higher amid persistent concerns over winter energy supplies.

The investment arm of Norwegian oil firm Equinor has made an early-stage investment in a carbon removals venture that aims to store CO2 emitted from biogas producers.

Australia will not need to use international offsets to meet its 2030 emission reduction target but can rely on plentiful domestic supply instead, analysts said Monday, while environmental groups urge the government to rule out using them entirely.

South Korea this week is kicking off a consultation process with industry in a bid to inject more vitality in its emissions trading market, better allocate ETS-related revenue to efforts that reduce emissions, and meet requirements raised by the EU’s Carbon Border Adjustment Mechanism (CBAM).

China’s thermal power generation last month increased year-on-year for the first time since February, while total power output grew at a faster pace amid rising demand, official data showed Monday.

Bursa Malaysia will launch a voluntary carbon market (VCM) later this year in a key a move to facilitate growth in carbon trading in the Southeast Asian country which will be kickstarted with an initial carbon credit auction, the Kuala Lumpur-based stock exchange announced on Monday.

The narrative around carbon farming in New Zealand has been overtaken by financial and corporate interests at the expense of landowners who need greater financial assistance to participate in the sector, according to an intermediary group.

The Carbon Specialist’s primary responsibility will be to develop a pipeline of high quality reforestation carbon projects in the Asia Pacific region, to better position One Tree Planted to help our corporate clients meet their carbon goals and objectives.

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

Market administrator RGGI. Inc will reject the nearly 16 million Pennsylvania-owned allowances from next month’s RGGI auction unless a court-ordered injunction against the programme is temporarily lifted, the state’s Department of Environmental Protection (DEP) said Friday.

Financial players added to their California Carbon Allowance (CCA) holdings this week ahead of the Q3 WCI auction next week, while regulated entities pared back their positions as prices increased on the secondary market, according to US Commodity Futures Trading Commission (CFTC) data.

The US House of Representatives on Friday approved Democrats’ $430 billion climate change, healthcare, and tax bill, marking the largest-ever climate bill to pass through the US Congress despite several provisions designed to prop up the fossil fuel industry.

New Colombian President Gustavo Petro retained phase-in carbon tax provisions on coal from the previous administration’s planned reforms, as well as inflation-adjusted annual increases to the levy that target equality and social justice objectives, according to a draft tax reform package submitted to Congress this week. 

The UK government is looking to further boost compensation for energy intensive industries to relieve the pressure from soaring electricity prices

German utility EnBW has enough coal to supply its plants over the coming winter, it said in its half-year results on Friday that indicate the company won’t be impacted by low water levels on the river Rhine.