Carbon Pulse

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A California Carbon Offset (CCO) livestock project in America’s Dairyland has applied to transition into the Low Carbon Fuel Standard (LCFS), according to documents posted Tuesday by state regulator ARB, even as biofuel credit values under several market-based programmes plunge.

Commodity trading platform Nodal Exchange and environmental products developer IncubEx will add CDM credits with different vintage definitions and other novel renewable energy contracts to their upcoming launch of voluntary carbon futures and options products, the companies said Tuesday. 

A Canada-based carbon investment company on Tuesday announced a deal with developer CoreCarbonX Solutions to generate over 5 million VERs from rice farming water management improvements in the Indian state of Telangana.

Carbon and LNG markets are suffering from poorly designed future contracts that undermine trading and hedging, according to executives from a new commodity exchange that aims to launch several tightly defined voluntary carbon futures, alongside three LNG contracts, by the end of the year.

Integrated shipping services firm Clarksons has launched a carbon mitigation platform that will allow its clients to purchase VERs from two global offset standards.

Hard-fought compromises on EU ETS reform are at risk of unravelling just a day ahead of crunch European Parliament votes, observer sources told Carbon Pulse on Tuesday, noting that several MEPs are set to break party ranks amid pressure from their home nation industries.

A carbon credit ratings agency has awarded a moderate rating to a forestry project in Paraguay in its latest update.

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.