Carbon Pulse

Current sky-high energy prices must not divert EU lawmakers from reforms to meet the bloc’s climate goals, the MEP tasked with steering carbon market legislation through the European Parliament said Wednesday.

A Japanese government energy agency will commence work to develop a standard for the measuring of emissions from the LNG sector, it was announced this week.

South Korea is likely to bump up its 2030 emissions target again, according to domestic media reports, just weeks after the previous increase, with most of the additional commitment likely to be met through purchasing credits from abroad.

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

California and Quebec regulated entities continued to move permits into their compliance accounts ahead of the Nov. 1 full surrender deadline for the third trading period of the WCI cap-and-trade programme, data published Tuesday showed.

A coalition of business and academics has launched a new global carbon pricing index that shows how the existing pricing mechanisms represent a small share of the worldwide total, in an effort to ramp up emissions-cutting ambition in line with the goals of the Paris Agreement.

A summary of voluntary carbon market (VCM) news and developments on Tuesday, including the launch of stock exchange-listed carbon credits, a multi-million investment in South American REDD+ projects, and a long-term forestry credit offtake from a US company catering to small landowners.

The Northeast US RGGI cap-and-trade programme will offer 23.1 million allowances for its Dec. 1 sale, a volume slightly higher than the September auction, the power sector scheme announced Tuesday.

Two new US-listed exchange-traded funds tracking European and California carbon allowances started trading on Tuesday, adding to the expanding field of options available for investors seeking exposure to compliance-based emissions trading schemes.

Greece has proposed auctioning carbon allowances from the EU ETS' Market Stability Reserve as a short-term measure to help raise cash to urgently deal with Europe's energy crisis.

Japan’s Ministry of Energy, Trade, and Industry (METI) will cooperate with domestic and international industry to develop a common understanding and standards for a mechanism to allow CCS and CCUS projects earn carbon credits.

EUAs posted modest gains early on Tuesday as European energy prices surged higher, with some contracts gaining in excess of 20% as the region faces up to continued supply tightness and regulatory uncertainty over the Nord Stream 2 pipeline.

The International Air Travel Association (IATA) has committed the global air transport industry to achieve net zero CO2 emissions by 2050, the group announced on Monday.

Dutch-headquartered trading firm Vitol has hired an experienced trader to head up its China carbon trading team.

Commodities trader Trafigura has hired a former Shell trader to lead its carbon trading operations in Asia, Carbon Pulse has learned.

Fortescue Metals Group (FMG), one of the world’s largest iron ore producers, will target net zero Scope 3 greenhouse gas emissions by 2040, the Perth-based company announced on Tuesday.

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

Record carbon permit prices and the emergence of new emissions trading markets around the world are leading to a surge in demand for emissions traders and analysts, with multinational banks, oil majors, and commodity merchants stopping at nothing to poach top staff and aggressively build out their desks.

US biofuel credit (RIN) prices surged to a fresh 3.5-week high on Monday, counteracting significant losses over the month of September as market participants searched for a reason for the upswing.

Voluntary carbon market (VCM) prices largely held steady or ticked up over the past week, while registry data showed voluntary emissions reduction (VER) issuances and retirements more than doubled in Q3 when compared to last year.