Carbon Pulse

Recent actions by Indonesia and Papua New Guinea to pause the authorisation of new voluntary carbon market (VCM) credits represent the start of country level accounting impacting the VCM, as the mechanisms laid out in Article 6 of the Paris Agreement begin to be implemented, writes Sebastien Cross of ratings firm BeZero Carbon.

The Brazilian government's bottom-up sectoral climate plan is set to drive domestic demand for offsets despite many details that are yet to be made clear, carbon project developers told Carbon Pulse.

The FIFA football World Cup to be held in Qatar in late 2022 aims to be the first to be carbon neutral, according to the event’s organisers, but a green group report published Tuesday argues that emissions may have been understated and the carbon credits used are unlikely robust enough.

EU leaders gathered on Monday aiming to strike a partial deal banning Russian oil imports amid resistance from Hungary, while sources said as many as nine member states could already oppose MSR sale plans that are due to be discussed Tuesday. 

Key standardised prices for technology voluntary emissions reductions (VERs) failed to gain for an eighth consecutive week, while nature credits moved sideways amid a dearth of buyers, as participants dismissed the potential for Verra's ban on tokenising retired units to significantly shift prices.

There are likely no Norwegian companies with significant CO2 emissions that are climate neutral currently, although the firms have not been deliberately greenwashing, a report claimed Monday in findings that reflect the uncertainty faced by companies worldwide in implementing climate strategies.

An industry group representing Australian’s carbon market industry on Tuesday outlined its list of priorities for the newly elected Labor government, including opening up to exporting ACCUs and reconsidering the need for introducing a new credit type for Safeguard Mechanism companies.

Malaysia’s stock exchange has teamed up with carbon credit standard manager Verra ahead of the launch of a domestic voluntary carbon market in the Southeast Asian nation later this year.

EU carbon was little changed in very thin trade on Monday morning as traders dialled down activity amid holidays and an EU summit where leaders were expected to discuss energy and a proposal to auction EUAs from the market stability reserve.

China’s central government will support the use of carbon credits from “qualified” new energy projects in its emissions trading scheme, it said on Monday, though without clarifying exactly which projects would qualify.

The New Zealand government has announced a NZ$10 million ($6.5 mln) Maori landholder development fund, but some observers have described it as a weak bid to make up for the proposal to ban exotic plantings from the country’s ETS, which would largely affect Maori landholders.

Australia’s Clean Energy Regulator has finalised a benefit sharing framework between landholders and project developers who choose to exit their contractual obligations with the government.

Reputex is seeking an Energy and Carbon Analyst to expand its research team in Melbourne.

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The Brazilian Development Bank (BNDES) has agreed to buy BRL 8.7 million ($1.8 mln) in voluntary carbon credits under its pilot tender process.

An independent watchdog committee along with environment justice group representatives found inconsistencies in California’s 2022 draft Scoping Plan on the role of cap-and-trade in achieving the state’s emissions targets, but differed in their approaches to reforming the programme, a virtual meeting heard Friday. 

Compliance entities saw their California Carbon Allowance (CCA) net length hit a 13-month-high prior to the publication of Q2 WCI auction results this week, while speculators added to their holdings for the first time in four weeks, according to US Commodity Futures Trading Commission (CFTC) data published Friday. 

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An offset investor has facilitated a $79 million offtake deal between a Vietnamese project developer and a US investment bank.