Carbon Pulse

A global offset developer and a North American farming financier launched on Tuesday an industry-first programme for produce growers of primary crops to participate in the voluntary carbon market (VCM).

Washington electric and natural gas utilities are seeking further cost relief for consumers and a level playing field in the state's final cap-and-trade regulation, while offset protocols are also a concern for creating a viable carbon credit market and eventually linking with the California-Quebec programme, according to public comments.  

We are rethinking voluntary carbon markets by offering share-based models instead of offsetting, through which companies can participate in the success of carbon removal projects over the long term instead of merely incurring costs for short-term climate neutrality, as is the case today.

A US-based conservation organisation on Tuesday announced a multi-million-dollar green bond to support drastically scaling up its small acreage forest offsets programme.

Germany confirmed details of its proposed “global shield” on Tuesday, aiming to “acknowledge” and “address” loss and damage caused by climate change impacts on the world’s most vulnerable countries, while the nation also announced a new partnership to import natural gas and hydrogen.

The European Commission is set to propose mandatory gas rationing for member states should the EU declare an emergency amid a worsening supply outlook, according to a leaked draft seen by Carbon Pulse on Tuesday.

This role is a key contributor to Shell’s global carbon market analysis with a focus on offering comprehensive and regular fundamental analysis and forecasting of the Australian and New Zealand carbon markets. This role is responsible for bringing supply, demand, and policy views together, modeling key drivers to develop market forecasts across all time horizons.

The UK's net zero strategy for aviation assumes a carbon price rise to £378/tonne by mid-century to meet the goal of climate neutrality in the sector, and does not envisage emissions to rise above pre-pandemic levels, according to documentation published on Tuesday.

EUAs gave up ground for a second day on Tuesday but remained firmly entrenched within their recent range as activity continued to dwindle, while energy markets were generally slightly firmer after the European Commission said it did not expect the Nord Stream 1 pipeline to resume flows after maintenance ends later this week.

Following a legal challenges from environmental groups, a court has ordered the UK government to outline how it plans to meet emissions reduction targets as part of its net zero strategy with the current level of detail unlawful.

Australia’s environment minister has emphasised the expanding role carbon credits will play in protecting and restoring marine and land-based ecosystems, while ACCU delivery to the government fell slightly in the last financial year, according to regulator data.

India’s Modi government will shortly introduce legislation to the country’s lower house of parliament, the Lok Sabha, that will facilitate a national framework for carbon trading and boost clean energy use, according to local media reports.

Some utilities in the EU ETS behave more like financial institutions, according to analysis of historical trading data, suggesting that participant segmentation practices may need to be reviewed as lawmakers consider restricting the market access of some non-compliance players.

Hong Kong Exchanges and Clearing (HKEX) has appointed a head of carbon and ESG products and markets, underpinning its ambition to establish itself as an emissions trading hub.

Technological solutions to remove carbon from the atmosphere, like CCS, CCUS, and Direct Air Capture (DAC) are gaining traction in Australia with support from the federal government, however the technologies’ ability to work as intended and the way it is being used by the fossil fuel industry remain deeply questionable, according to its critics.

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

The Washington State Department of Ecology (ECY) on Monday released draft regulations to implement the Clean Fuels Program (WCFP) in 2023, with the initial compliance period extended to two years.

Director of Forest Carbon Project Origination to play a lead role in identifying viable forest carbon projects and contracting with landowners to create climate benefits via forest management.  Offset credits generated from these projects will be sold in the voluntary and compliance carbon markets in North America. 

IncubEx is looking for a Head of The Voluntary Climate Marketplace (“TVCM”). The ideal candidate is passionate about our company’s mission and the potential of environmental markets as all companies assess their ESG goals and as environmental products continue gaining traction as an asset class.

IncubEx is looking for a renewable fuels salesperson who is knowledgeable about Renewable Identification Number (RIN) markets and/or Low Carbon Fuels Standard (LCFS) market. This salesperson should have existing contacts in the RIN and LCFS marketplace. This is a client-facing role that requires travel to industry conferences and clients.