Carbon Pulse
News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 21 min 27 sec ago
Tired of waiting, Chinese firms begin placing bets on future CCERs
A growing number of Chinese companies are making long-term commitments on new CCER project development and transactions, despite a complete lack of clarity on when the programme might restart and which methodologies might be eligible if and when it does.
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Forestry-obsessed VCM market is missing the point, warns Africa’s largest project originator
Investors are too focussed on nature-based carbon projects, particularly forestry, in Africa, the largest project originator on the continent warned after releasing interim results on Thursday.
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Research warns against relying on blue carbon projects for carbon accounting
A new study has cast fresh doubts on the reliability of blue carbon projects being able to predictably sequester large amounts of carbon, while stressing marine ecosystems need to be protected and restored as part of climate mitigation efforts.
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Dubai tanker firm signs up to new offsetting platform designed for marine players
Dubai-based tanker operator and oil product trader Oilmar has teamed up with a Norwegian start-up, ESG-NRG, to complete a deal involving the first use of a new carbon offsetting marketplace that is specifically designed for use in the marine sector.
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CP Daily: Wednesday July 27, 2022
A daily summary of our news plus bite-sized updates from around the world.
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BC municipality gains windfall from low-carbon credit sale
A municipality in Canada’s province of British Columbia (BC) has acquired a windfall from the sale of low carbon credits to a Canadian commodity marketer, according to a statement released Wednesday.
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VAT cut in consumer energy bills could result in higher emissions, UKA prices -think-tank
A proposal to remove VAT from Britain’s household energy bills, as pledged by former Chancellor and prime ministerial candidate Rishi Sunak, could end up supporting UK carbon allowance prices, a think-tank has said.
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Manchin, Schumer strike deal on climate-adjacent US budget bill
Conservative Democratic Senator Joe Manchin (D) on Wednesday announced he had forged a deal with Senate Majority Leader Chuck Schumer to resurrect efforts to pass climate-oriented legislation through budget reconciliation, though the coal state lawmaker’s proposal emphasises the continued support of fossil fuels.
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California compliance offset issuances tick up, as prices draw closer to allowance values
California regulator ARB this week doled out the largest number of compliance offsets since April, according to government data published Wednesday, while a decline in WCI allowance prices has tightened the discount of offset values.
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Untangling the web: The knotty issues raised within IC-VCM consultations
Complex issues have already been raised on the first day of consultations on the Integrity Council (IC) draft requirements to define robust carbon credits in the voluntary carbon market (VCM), with IC-VCM chair Annette Nazareth elaborating on the quasi-regulatory nature of the group.
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Asian gas leak offset project sees rating downgraded
The grade of a high-yielding VCS-accredited pipeline gas leak offset project was downgraded by a ratings agency this week.
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Economic downturn splits VCM market into two, surplus in offsets grows
The deteriorating global economic outlook has split the voluntary carbon market (VCM), with a top half seeking to trade and retire more expensive nature-based solutions and a bottom half seeking out cheaper and older vintages, according to analysts.
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ANALYSIS: Best strategy for Canadian oil and gas CO2 pricing divides experts
The Canadian federal government's two proposed options to assign a carbon pricing mechanism to its oil and gas sector are dividing opinion among experts on the likelihood of the outcome and which option is the easiest to implement.
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Greece floats idea for EU-wide plan to compensate industry for demand cuts
Greece's prime minister has sent a letter to the European Commission proposing an EU-wide mechanism to compensate industry for reducing their gas and electricity use for the coming winter.
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Iberian hydro continues to suffer as Iberdrola reports 21.6% rise in ETS-covered fossil output
Utility Iberdrola posted on Wednesday a strong rise in gas-fired generation to send its ETS-covered output rising by more than one fifth year-on-year in H1, while hydro generation in Spain slumped some 52% due to drought across the country.
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Euro Markets: EUAs add a further 1.4% as traders assess margin call threat
EUAs opened with relative calm on Wednesday following multiple volatile sessions over the past week, trading flat across the first hours before finding strength as the Dec-22 moved to a 1.4% gain at midday.
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Lower cost for direct air capture means net zero less costly and more likely -report
The use of direct air capture with CCS, or DACCS, would reduce the total cost of decarbonisation in meeting global climate goals in a long term scenario where deploying the technology at scale is low cost, while also making it more likely that net zero emissions can be reached, according to a report released this week.
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China’s Supreme Court backs stronger carbon market regulations
China’s highest court has recommended complementing current regulations concerning the activities in carbon markets, in a move backing long-awaited legislation for the country's national emissions trading scheme (ETS).
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Australian Market Roundup: Regulator makes large ACCU issuance, as govt introduces climate bill
Australia’s Clean Energy Regulator has issued around 1.2 million new Australian Carbon Credit Units (ACCUs) to carbon projects, as the Labor Party government on Wednesday introduced its Climate Change Bill to the House of Representatives.
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Global group established to promote nuclear power as source for hydrogen
A coalition comprising of over 40 industry, government, academic, and non-profit group participants has formed the Nuclear Hydrogen Initiative, a body that will seek to advance the role of hydrogen sourced from nuclear power as a climate change mitigation solution.
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