Carbon Pulse

California Carbon Offsets (CCOs) with direct environmental benefits to the state (DEBs) have increased in price versus their out-of-state counterparts, ushered in by a new period in the jurisdiction’s WCI-linked cap-and-trade system and having potential implications for voluntary markets.

As the Climate Commitment Act Cap and Invest Policy Section Manager, you will take a key leadership role in ensuring the success of this program. We are looking for someone who has the experience and commitment to build and lead the team of experts responsible for developing and implementing statewide policy in the areas of carbon offsets, utilities, emissions-intensive and trade-exposed industries, and related areas

EU lawmakers are making steady progress in scrutinising the mammoth ‘Fit for 55’ climate policy package, with observers noting that early work is advancing in what is expected to be a lengthy process.

EUAs consolidated around the previous day's settlement price on Tuesday morning as energy markets posted strong gains amid news of additional US sanctions against the Nord Stream 2 pipeline.

Spot credits in Australia’s offset market are now within a hair’s breadth of the A$40 mark, while new credit issuance has dipped somewhat in the busy period after COP26 in Glasgow.

Oil major Shell has announced that it will build a 50,000-tonne per year pyrolysis oil upgrader unit at its Singapore-based energy and chemicals park, one of several commitments made on Tuesday which will contribute to the company’s goal to slash its operational emissions globally in half by 2030.

Companies in Fujian province’s emissions trading scheme have finalised their 2020 compliance process, with regulated emissions falling by 44% as power plants are now covered by the national market instead.

Australia and Germany will push forward with their bilateral hydrogen accord by allocating from early 2022 $90 million of jointly committed funds for new hydrogen projects, Australia’s energy and emissions reduction minister, Angus Taylor, announced on Tuesday.

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

The 23 generators regulated under Massachusetts’ Global Warming Solutions Act (GWSA) programme will have sufficient permits to cover their emissions this year, though prices in the power sector programme have trended up this year, according to a report published Friday.

Voluntary emissions reduction (VER) values on the over-the-counter and exchange-traded markets extended their year-long bull run this week, with voluntary carbon market (VCM) participants citing optimistic outlooks following the COP26 UN climate summit and blockchain ventures in driving up prices.

Several countries attempted to block efforts to raise the shipping sector’s emissions target to a 2050 net zero goal on Monday, as week-long talks begin at the UN’s International Maritime Organization (IMO).

EU gas suppliers may soon have to disclose the share of renewable and low carbon gas they sell within each member state and in total, as well as the carbon footprint for gas sold over the previous year, according to a leaked draft circulated on Monday. 

A senior employee at CME Group has taken on a carbon markets role at Xpansiv, marking the latest recent hire to depart the US-based exchange for the ESG commodities trading platform.

Portugal became the fourth EU nation to shut down its last remaining coal power plant over the weekend, with the Pego facility closing down on schedule amid record-high carbon prices.

EUAs rose to a new record for an unprecedented sixth consecutive day on Monday, ignoring weaker energy markets that reacted to growing concern over rising Covid-19 infection numbers and growing social unrest over renewed public restrictions in a number of countries.

Australian energy outfit Woodside completed its merger with mining giant BHP’s oil and gas portfolio on Monday, as it also announced a final investment decision on the $A16.5 bln ($12 bln) offshore gas Scarborough and Pluto Train 2 LNG projects in Western Australia.

Regulators in a city in central China on Monday withdrew announced restrictions to carbon project development and sales, but only after a major pushback from stakeholders fearing further disruption to the nation’s offset market.

The newly created role is responsible for the development and implementation of sophisticated and high-value trading strategies aimed at maximising the value of AGL Australia's Domestic and International Carbon offset portfolios.

This role will primarily support AGL's greenfield carbon project development opportunities and will be responsible for conducting detailed qualitative and commercial assessments, carrying out due diligence across investment proposals, identifying new development opportunities and reporting on progress against the carbon project pipeline.