Carbon Pulse

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

Analysts offered varying forecasts for Canada’s Clean Fuel Regulations (CFR) average price out to 2030 in a webinar on Wednesday, with changes in regulatory design expected to impact future credit prices.

A still early-stage, but already well funded startup in the Voluntary Carbon Markets space is seeking a Carbon Project Developer with at least 2 years of experience in the area of project development and management for nature-based solutions, e.g. with Verra and Gold Standard projects and methodologies.

Gasoline sales in California declined in April to offset March's uptick, while both gas and diesel consumption posted their first months below 2021 levels so far this year, according to state data published Wednesday. 

US President Joe Biden (D) on Wednesday announced several measures to help kickstart offshore wind developments as part of a suite of forthcoming climate-related executive actions, after Democratic Senator Joe Manchin and all Congressional Republicans have blocked clean energy-focused legislation.

A London-based brokerage has been fined for breaking rules in booking an off-exchange EU carbon allowance trade.

Verra will begin the long-awaited public consultation process on third-party crypto instruments next month after the standards body temporarily halted the tokenisation of its retired carbon credits this spring, the organisation announced Wednesday.

The Bank of Montreal (BMO) has purchased Calgary-based offset developer and sustainability firm Radicle, the companies announced Wednesday, as financial players have yet to relent on taking a stake in the voluntary carbon market (VCM).

An energy efficiency scheme in the US has been given a low chance of avoiding or removing a tonne of CO2 by a ratings agency in its latest round.

A cookstove project in Africa expects to generate 3 million carbon credits over the next seven years after securing new funding.

EU member states should curb their natural gas demand by 15% over the coming eight months from August, the European Commission said on Wednesday in a plan designed to increase the bloc’s resilience in the face of potential Russian gas supply disruptions.

Another Chinese company has been caught falsifying data under the national emissions trading scheme as regional governments continue efforts to identify and stamp out carbon market fraud, though available sanctions against wrongdoers remain weak.

EUAs tumbled below a key technical level and prompted additional selling as the market reacted to details of the European Commission's plan to reduce gas demand ahead of the winter demand season.

Global electricity CO2 emissions are expected to fall, albeit slightly, in 2022 as weakening economic growth and soaring energy prices put the brakes on power consumption while renewables have a bumper year, according to the IEA in a report published Wednesday.

An increase in approvals for new coal power facilities in China has reflected rising concern over energy security at home, an NGO report published on Wednesday found.

The level of CO2 captured and stored at CCS facilities annually is well below total yearly global capacity, by 19-30% on average, highlighting the urgent need for uniform and more comprehensive reporting on CO2 capture and storage rates, a study has found.

Prices in China’s national emissions trading scheme will grow steadily in coming years, but by the end of the decade could be more than 50% higher if the government sets an absolute cap on ETS emissions compared to if it carries on with an intensity-based scheme, according to analysts.

Australian heavy industry's push to offset emissions is expected to drive massive demand in the country’s carbon market, with the help of the government’s revamped Safeguard Mechanism, according to analysis set to be released Thursday.

An Australian resources company planning on turning 1.4 million hectares of forest in Papua New Guinea in to a series of  REDD+ projects has had its carbon permits revoked by the country’s National Forestry Authority (NFA).

BHP has signed a Memorandum of Understanding (MoU) with Tata Steel to jointly study and explore the development of lower carbon technologies for iron and steelmaking, the global mining giant announced on Wednesday.