Carbon Pulse

Germany could add waste incinerators and small lignite-fired power plants to its national carbon pricing mechanism (nEHS) that currently covers fuels used for buildings and road transport, media reports suggest.

European carbon traded in a relatively narrow range on Tuesday morning as the market waited for signals from Strasbourg where the European Parliament debated the Fit for 55 reform package ahead of votes on Wednesday, while energy markets weakened amid improved natural gas supply.

The European Parliament’s position on industry concessions under the EU ETS remains in the balance on the eve of a mammoth series of votes on eight climate policy bills, after the biggest political group introduced a last-minute amendment that could substantially ease carbon costs for big-emitting firms.

Australia-headquartered bank ANZ has hired a new head of commodities in Singapore who comes from a similar role at a rival bank.

Japanese industrial players Eneos and Mitsui have agreed with the UAE’s oil company ADNOC to study developing a clean hydrogen supply chain between their two countries, they announced Tuesday.

Mining giant BHP on Tuesday launched a A$3-million ($2.16 mln) grants programme to help drive the development of blue carbon projects in Australia, the latest initiative to boost supply of ocean-based offset credits in the region.

Spot Korean Allowance Units (KAUs) on Tuesday fell below the 20,000 won mark for the first time since March as Market participants are selling surplus permits they aren’t allowed to bank, though analysts expect financials to soak up most of the supply.

A cross-stakeholder initiative has published highly-anticipated provisional guidelines to help buyers ensure integrity when purchasing carbon credits for voluntary climate pledges, inviting several global firms to ‘road test’ its proposed grading system over the coming months.

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

The Chilean government on Sunday presented details of the country’s much anticipated climate legislation to reach net zero emissions by 2050, and followed this on Monday by announcing collaboration with Canada on carbon pricing initiatives.

California Low Carbon Fuel Standard (LCFS) credit values barrelled towards five-year lows last week as traders thought more downside was likely.

Standardised technology-based credits lifted for the first time in two months this week while nature-based units again stalled amid moderate trade.

Two startups hope to capture pricing benchmarks in the global shipping market ahead of the sector's expected entry into the EU ETS by offering a set of ocean freight and CO2 prices.

Governments kicked off a two-week UN negotiating session in Bonn on Monday, aiming to spur a boost in national commitments to tackle climate change and push forward on key issues ahead of the UN's main COP27 summit in November in Egypt.

European carbon made a lacklustre start to the week, with prices tumbling by nearly 5% in very thin trading on Monday morning as traders absorbed reports that the European Parliament is seeking more stringent restrictions on financial EU ETS participation in the EU ETS.

China National Petroleum Corporation (CNPC), the world’s third-largest oil company, plans to peak its carbon emissions by 2025 and achieve net zero by 2050 helped by a steadily growing portfolio of forest carbon projects, it announced Monday, both targets well ahead of the Chinese government emissions pathway.

The New South Wales state government is opening up to partner with private sector investors on conservation initiatives that can become eligible to earn carbon credits, with telecom firm Telstra the first to strike a deal.

Singapore’s Temasek has launched an investment platform company that will invest an initial $5 billion to accelerate the low carbon transition, the state-owned financial giant announced on Monday.

Elders is looking for a Carbon Farming Business Development Specialist to join its team on a Fixed Term contract until November 2023 and help it deliver a carbon farming service to the Australian agricultural industry.

A group of mostly US-based market veterans coming from firms like Macquarie and South Pole have teamed up to co-found a start-up aiming to produce “ultra-high quality carbon offsets” at scale in emerging markets.