Carbon Pulse

The Quebec environment ministry (MELCC) has proposed limiting the level of free allowances for industrial emitters in the province’s WCI cap-and-trade programme, while also including a consignment-based structure for companies that implement GHG-cutting projects.

Utility Dominion Energy expects the Virginia government will leave RGGI by the end of July, though acknowledged in a filing on Friday that this date could change.

The UAE is to buy 500 gas decarbonisation devices over the next five years which will cut the equivalent of half a million tons of CO2 over the next decade, with the gas-rich Gulf nation aiming to make good on the multilateral pledge it signed up to at last year's UN climate negotiations.

Buying sentiment remained extremely weak across the voluntary carbon market (VCM) as the value of technology-based credits in particular continued to plummet, with multiple standardised exchange-traded offset contracts falling to their lowest end-of-week settlement since August.

A carbon credit ratings agency has awarded ratings to two more hydro projects, while a REDD forest protection project remained on firm's “watch” list for a potential change.

This role is a key contributor to Shell’s global carbon market analysis with a focus on offering comprehensive and regular fundamental analysis and forecasting of the global carbon offset market.

EUA prices made moderate gains on Monday as the market eyed proceedings in the European Parliament's environment committee (ENVI), where lawmakers were preparing to vote on proposed amendments to the ETS  reform bill and other Fit for 55 climate policy proposals.

Canadian company Carbon Streaming, the main seller of credits from the large Indonesian Rimba Raya REDD+ project, now expects a complete halt in offset issuances for the scheme until the government has finalised its new carbon market policy, according to news reports.

China last month saw its biggest plunge in thermal power generation – and likely in carbon emissions – since 2015, as Covid lockdowns hit demand while renewables recorded strong growth.

Alinta is looking for a Contracts Trader to join its Trading & Portfolio Management team, reporting to the Senior Contracts Trader.

The New Zealand government released its economy-wide Emissions Reduction Plan on Monday, however it has conceded that the technology needed to cut emissions from one of its most polluting sectors – agriculture – is still some years away.

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

A British man has been cleared after spending 3.5 years in jail for his alleged involvement in a 2011 EU carbon allowance cyberheist.

Countries made marginal progress over the past fortnight towards handing out this year’s free carbon permit allocations under the EU ETS, with two governments still yet to start the annual process.

Regulated entities’ California Carbon Allowance (CCA) net length reached a year-high this week before the May 18 WCI auction, while speculators’ allowance holdings dove to a year-low, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

More than half of the entities regulated under Massachusetts’ Global Warming Solutions Act (GWSA) hold excess V22 allowances than their annual average 2020-21 emissions, according to a quarterly market report published this week.

A pair of finished fuel providers will need to meet their 2021 Oregon Clean Fuels Program (OCFP) compliance shortfalls through the clean fuel standard’s Credit Clearance Market (CCM) this summer, a state agency announced Friday.

A major European reinsurer has committed to invest A$354.1 million (€234 mln) in Australian forestry assets, aiming to derive incoming from logging and carbon credits.

Norway is lining up a deal to bury London's waste emissions at its massive offshore CCS initiative in what it hopes will be one of many European contracts, while advancing plans to bury a lot of its own output.

California Low Carbon Fuel Standard (LCFS) prices marched to a one-month high this week on optimism that regulator ARB will propose more stringent GHG goals from the programme, but fell over the latter half of the week after the agency’s draft Scoping Plan provided few new details on this ambition.