Carbon Pulse

World Resources Institute (WRI) intends to award short-term contract to advise on establishing new carbon market mechanisms in Fiji.

South Korean CO2 allowances on Friday fell to their lowest level in nearly a year as traders sold off excess permits ahead of the compliance deadline in order to maximise the amount of units they can bank to next year.

The allowance price in China’s national emissions trading scheme remained unchanged again this week, but trading activity stalled as market participants said newly announced changes in allocation regulations spurred further bearish sentiment.

A South Korean asset manager is in the process of setting up what is thought to be the nation’s first large-scale fund for the international voluntary carbon market.

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

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A UK-registered carbon insurance company that seeks to reduce delivery risk in removals transactions has raised £350,000 in a “heavily-oversubscribed” pre-seed funding round.

California utility Pacific Gas & Electric (PG&E) will slash emissions from its fossil gas product and ramp up the availability of renewable natural gas (RNG) to its customers by 2030, the company said Wednesday.

California Carbon Allowances (CCAs) bounced back to recover most of their initial losses this week, while RGGI Allowance (RGA) prices stagnated following the publication of Q2 auction results.

A Canadian clean-tech firm is aiming to launch a multi-million dollar carbon credit blockchain initiative with Canada’s First Nations communities, they announced this week, as the federal government unveiled its national offset scheme.

A US farmer-owned cooperative has opened a second enrolment period for its 2022 voluntary agricultural carbon credit programme due to strong demand.

Investment manager SparkChange has cross-listed its physically-backed exchange-traded carbon commodity (ETC) on stock exchanges in Germany and Italy.

Carbon credit certifier Gold Standard issued new guidelines on Thursday for how its units can be used by voluntary buyers given the new Paris Agreement context, providing greater flexibility on the need for authorisation from the project’s host-country government.

Plans by EEX to grab market share in the voluntary carbon market (VCM) include beefing up its CORSIA-eligible VER future with Gold Standard credits, and introducing many individual future vintages for its nature-based VER as far out as 2025, the exchange revealed on Thursday.

The EU’s institutions are striving to avoid any ultimate delays to the passage of the bloc’s Fit for 55 climate policy package, sources close to the process said on Thursday as parliamentarians agreed to a swift return to vote following their chaotic failure to adopt positions a day earlier.

Analysts envisage a period of high volatility and low liquidity for the EU ETS as participants step back amid the uncertain outlook following the European Parliament's rejection of proposed reforms, with experts split on whether a second attempt by the assembly would lead to higher ambition.

Carbon prices of between $100 and $150/tonne are necessary for the global oil refining market to switch to using green and blue hydrogen in the long term unless their production costs fall sharply, a consultancy warned Thursday.