Carbon Pulse

An Australian technology start-up firm has raised A$42.5 million ($29.8 mln) from a group of local and international backers to improve the performance of electrolysers and lower the cost of manufacturing renewable-based hydrogen, the company announced on Tuesday.

The South African government has proposed tweaking the trajectory of increases to the country’s carbon tax in order to offer stakeholders more predictability.

The largest holder of California Low Carbon Fuel Standard (LCFS) credits boosted its net position over the past six months for the first time since 2019, as the programme’s surplus bank exploded to an all-time high, according to data from state regulator ARB.

The interim commercial director of a major US-based agricultural carbon offset firm has left the company, marking at least the fourth senior employee to depart the firm in the past 10 months.

The lifetimes of German nuclear power plants are increasingly likely to be extended beyond the end of the year, but the downside potential for EUA prices of such a move would be mostly offset by higher coal burn, according to EU carbon analysts.

CO2 emissions under the power sector RGGI cap-and-trade programme increased year-on-year in the second quarter of 2022, as gains in the Mid-Atlantic and upper New England offset steep reductions in Virginia, according to data updated Monday.

Only a fraction of voluntary carbon market (VCM) buyers chose to self-report their offset purchases in 2021, according to a new report published Monday that provided insight on entities' preferences for credit vintages, projects' geographical locations, and co-benefits.

Voluntary carbon offset (VCM) prices slipped lower at the start of the week and then stabilised amid very thin liquidity with some standardised emissions reduction contracts trading only slightly above Clean Development Mechanism (CDM) credits, while nature-based credits continued to command a healthy premium.

EUAs kicked off the month of August, in which auction volumes are reduced by 50%, on a quiet note with very low trading volume as many participants were on holiday, while energy markets edged higher as demand for cooling was expected to increase in the coming week.

China's cabinet on Monday released an implementation plan for the country's industrial sector, reiterating its commitment to peaking carbon dioxide emissions by 2030.

The Philippines’ Department of Finance (DoF) is hoping to learn from Indonesia’s foray into carbon markets as a way to develop its own carbon pricing scheme, local media reports.

India Prime Minister Narendra Modi may decide to launch a national carbon trading platform to begin on Aug. 15 to boost efforts to meet the country’s climate commitments, according to local media reports.

This role will primarily support AGL's carbon neutral program and will be responsible for conducting detailed project due diligence and quality assessments, carrying out domestic and international carbon and environmental market analysis, as well as reporting on progress against AGL's carbon neutral targets to support Trading activities and potentially, investment decisions.

The Queensland state government has selected five new carbon farming projects to receive A$11.5 million ($8 mln) in funding from its Land Restoration Fund (LRF), with more projects being finalised.

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

Financial participants trimmed their California Carbon Allowance (CCA) holdings for a third week in a row amidst price weakness across financial markets, while compliance entities continued to increase their net position, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

The credit bank for California’s Low Carbon Fuel Standard (LCFS) spiked to a record high during the first quarter of 2022, as the usage of renewable diesel (RD) and electricity-based transportation fuel pathways continued to proliferate.

Spain will send a proposal to the EU to cap prices in the bloc’s carbon market to try to curb energy prices and inflation, Prime Minister Pedro Sanchez said Friday.

European carbon prices are expected to bounce back from their recent dip as increased coal burn and EU market reforms will offset the impact of the bloc's recent gas use agreement to drive power sector emissions above 2021 levels, according to analysts.

European airlines were keen to highlight environmental credentials in results this week, with British Airways' owner IAG announcing on Friday it will double its sustainable aviation fuel (SAF) buying.