Carbon Pulse

EUA prices continued to circle the €80 mark in the final hours before the Dec-21 options contracts expire, while German power dropped on news that a German coal plant had postponed its closure and would continue to run for an unspecified period.

The European Commission published its second set of ‘Fit for 55’ climate policy proposals on Wednesday, seeking to ensure the EU meets its 2030 emissions target and is on track to reach net zero by 2050.

Oil major Shell and India-headquartered carbon developer and trader EnKing plan to launch a $1.6-billion joint venture that will see the two generate up to 115 million nature-based carbon credits over the next five years, according to media reports citing unnamed sources.

Volumes in China’s emissions trading scheme have hit record highs in recent days as emitters have scrambled to meet Wednesday’s main compliance deadline for 2019 and 2020 emissions, but market participants reckon at least half the companies involved will have failed.

A major carbon credit developer and seller has unveiled plans to assess whether voluntary offset buyers are taking credible climate action before agreeing to sell to them, a landmark move to raise standards in the fast-growing global market.

Offset market participants are alarmed at the government’s rapid move to restrict some project types, while spot prices in the Australian market continue their rapid ascent amid thin supply.

Macquarie Group’s green investment arm has joined up with a European chemicals maker to form a green hydrogen industrial outfit to help develop the electrolysis market for hydrogen in Europe, the two companies have announced.

China’s thermal power generation fell in November for the first time in over a year amid slowing economic growth and ongoing curbs on energy intensive industries.

The Western Australia (WA) state government will make available 3 million hectares of unallocated land for carbon farming to assist in carbon mitigation and improve biodiversity in the state, it announced on Wednesday.

The Global Green Growth Institute is looking for a carbon markets officer to be based in its Seoul headquarters.

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

The technology firm that bridges retired VCS credits onto the blockchain has blacklisted two HFC-23 projects to make sure no more of the controversial credits get tokenised as BCTs.

The Chilean government on Monday recommended at least a $35 CO2 price by the end of the decade as part of its energy transition strategy, though it is uncertain how this weekend’s run-off presidential election between the left and far-right candidates will influence the government’s carbon pricing strategies going forward.

North American carbon offset developer and supplier Finite Carbon on Tuesday launched a new programme to generate credits from improved forest management practices in Canada, offering a private sector alternative to methodologies under development by Ottawa and provincial governments.

Voluntary emissions reduction (VER) prices could resume their rally into the second half of 2022 as trading houses look to further bolster their portfolios, brokers said in a research note on Tuesday.

US biofuel credit (RIN) prices continued to dive back towards week lows on Tuesday as bullish sentiment regarding the Renewable Fuel Standard (RFS) quotas published last week evaporated.

The UK will not introduce additional supply to calm allowance prices in the country's carbon market after the scheme's Cost Containment Mechanism (CCM) was triggered last month, the government said late Tuesday.

EUAs dropped sharply to trade near the most heavily traded call option strike price in early trading on Tuesday, while energy prices edged lower after a strong opening.

An Estonian agritech company on Tuesday launched a crypto venture that will seek to build an on-chain market place for not-yet certified carbon credits in a bid to fund offset projects.

China’s national offset trading platform will be finalised halfway through next year, though the exact launch date will depend on when the government restarts the carbon credit programme.