Carbon Pulse

The promise of a global green economic recovery from the Covid-19 pandemic has been dashed, sending a warning that the clean energy transition has stalled and making it unlikely that the world will be able to meet critical climate goals this decade, according to a report released on Wednesday.

Senior MEPs from the centre-right EPP, centre-left S&D and liberals from Renew – the three largest political groups – have sealed a provisional deal on the EU ETS late Tuesday that would see an earlier phaseout of free allowances and a slightly tighter annual cap cut than at last week's failed vote.

Fossil fuelled power generation in China continued to fall in May, though at a slightly slower rate than in the previous month as some of the country’s Covid-driven lockdowns eased.

The head of Papua New Guinea's Climate Change Development Authority (CCDA) has told national media that a delay in government policy-making is holding up hundreds of millions of dollars in potential carbon credit revenue.

Two main crypto carbon groups are considering to share the responsibility to rid the market of the over 670,000 remaining carbon tokens from a Chinese HFC-23 project brought onto blockchain last year.

UK oil and gas major BP has acquired a 40.5% stake and operatorship of the Asian Renewable Energy Hub (AREH), a massive solar and wind project in north-west Australia that aims to export green hydrogen or ammonia, the company announced on Wednesday.

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

The Climate Policy Fellow will be a member of the Global Policy and Government Affairs division, working closely with global, regional, and national policy teams to advance NCS in policy outcomes.

New Zealand’s second carbon allowance auction for the year cleared at NZ$76 ($47.31), while the entire cost containment reserve (CCR) for the year has now been exhausted, as was widely predicted.

*PREMIUM LISTING - ClimatePartner is a leading solution provider for corporate climate action: We combine individual consulting with a cloud-based software that is unique on the market. We help our customers calculate and reduce carbon emissions and offset residual emissions.

A French bank is raising €5 mln through a structured fixed rate investment product linked to EU carbon allowances.

EU nations should consider delaying by a year to 2027 the launch of a second ETS for buildings and road transport, according to a draft proposal by France, which is currently steering member state talks.

A US-headquartered private equity firm has purchased a majority share in a European energy markets news provider.

UN climate negotiations in Bonn have outlined several technical issues that need to be addressed to advance government-level emissions trade, including infrastructure to track trade, accounting practicalities, and other issues that also have implications for the voluntary carbon market (VCM).

A standardised contract touted as providing a single global price for voluntary carbon market (VCM) credits will launch on two exchanges later this week and should initially trade at $7-8/tonne, a webinar heard on Tuesday.

Vertically integrated utility NextEra Energy on Tuesday said it will decarbonise its operations by 2045, but without dependence on offsets to supply emissions-free energy across the US.

Corporates unwittingly buying bogus or dodgy offsets in the voluntary carbon market (VCM) may be able to get their money back in the future, just like buying a toaster or television that does not work, a board member of the Integrity Council for the Voluntary Carbon Market (IC-VCM) said Tuesday.

North American offset project developer Bluesource and environmental commodities company Element Markets have merged to form “Anew”, the companies announced Tuesday.

Two cross-party committees of the European Parliament voted by a thin margin on Tuesday against including natural gas and nuclear energy on a list of climate-friendly investments, teeing up a full Parliament ballot early next month.

EUA prices made solid gains on Tuesday morning in as European lawmakers agreed to resubmit proposed changes to the ETS reform package to the full Parliament later in June, and as power and coal prices advanced on increasing cooling demand across much of Europe.