Carbon Pulse

Trade in the EU ETS was quieter than usual on Tuesday with numerous participants attending an industry event, while prices advanced ahead of the expiry of the June options contract on Wednesday.

Aviation industry group IATA urged governments to adopt an aspirational net zero emissions goal with a diminishing role for offsets, as a report has found that a growing market share for Sustainable Aviation Fuel (SAF) can be achieved with manageable costs to industry provided there is policy support.

Indonesia’s state-owned energy company Pertamina has signed an agreement with a local carbon project developer to pursue nine domestic carbon offset projects which could deliver almost 12 MtCO2e/year, it claims.

One of China’s biggest logging companies has teamed up with a local trading firm to form a carbon market partnership that includes a platform for transacting forestry-based offsets.

Offset project owners have delivered over half a million new Australian Carbon Credit Units (ACCUs) to the Emission Reduction Fund despite the option to exit their contracts, according to Clean Energy Regulator data, while the government seeks feedback on its biomethane methodology draft.

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

Lawmakers from a California Assembly committee on Monday advanced a bill that would bring in more regular reviews of the state's cap-and-trade scheme.

A Stockholm-based startup building a vertically-integrated web3 platform to finance and sell carbon credits has raised $1.5 million in a pre-seed funding round.

A Canadian former mining company is pivoting into the carbon credit space, with three nature-based projects in the developing world in the early stages of design.

Legislation to create a compliance carbon market in Brazil has been "completely disfigured" to exclude cap-and-trade amid pressure from allies of President Jair Bolsonaro, according to the elected representative who introduced the bill.

The Singapore Exchange (SGX) has joined forces with the city-state’s Accounting and Corporate Regulatory Authority (ACRA) to establish a committee to guide Singaporean companies on their sustainability reporting, it was announced on Tuesday.

The chances of a European Parliament compromise on EU ETS reforms appear to have improved as a crunch vote looms this week, amid few fresh submissions and as one well-placed source suggested to Carbon Pulse that a fourth political group may also support the move.

Gustavo Petro, a former guerrilla rebel who spent two years in jail, has won Colombia’s presidency, promising substantial changes including oil & gas policy reform and climate justice.

Switzerland's latest carbon permit auction has cleared at a new record high.

The sell-off across standardised verified emissions reduction credits (VERs) continued as traders moved to offload nature offsets over the past week, pressuring prices to lows last seen mid-autumn while volumes soared to record levels across several futures markets.

Gasoline consumption in California rose in March but still widened when compared to pre-pandemic levels, while diesel consumption notched a new 16-year high, according to state data published Friday.

A European over-the-counter trading platform is to offer "carbon compensated" gas contracts on its platform next month after linking up with a major Germany-based utility, it announced Monday

Several big-emitting nations signalled their intent to revise their Paris Agreement emissions pledges over the weekend, a move that could bring the pact's temperature limit goals within closer reach.

Countries made a bit more progress over the past month in handing out this year’s free carbon permit allocations under the EU ETS, with five governments still not past the halfway mark.

Switching EU steel mills to electric arc furnaces and optimising the use of domestic scrap metal could cut the sector's bloc-wide emissions by up to 73% by 2030, according to a study published by an environmental think-tank on Monday.