Carbon Pulse

Switzerland will in June hold its first carbon permit auction for Phase 3 of its ETS (2021-30), it announced Thursday.

The European Commission is planning to frontload more EUA sales this year in order to double the size of an Innovation Fund call, according to a leaked draft of the RePowerEU initiative seen by Carbon Pulse on Thursday.

An offset retailer has ditched its policy of allocating the full cost of buying credits back to the project developer after the surge in demand for nature-based offsets saw some credit prices triple over the last year.

The Oregon Clean Fuels Program (OCFP) saw credit generation outpace deficits during the final quarter of 2021, spurred by greater volumes from electricity-based pathways, according to state data published this week.

The London Stock Exchange (LSE) plans to rule out individual companies for its new Voluntary Carbon Market (VCM) listing, it said Thursday in a consultation note for a label intended to help direct capital from companies seeking to buy carbon credits to complement their net zero strategies.

Japan’s Sumitomo Mitsui Banking Corp. has joined an initiative by a group of global banks to set up a settlement platform for voluntary carbon trading transactions.

EUAs drifted slightly amid active trading as the market moved in its narrowest range for three weeks on Thursday morning after Wednesday's volatile price action, while energy markets jumped on renewed concerns over supplies of Russian natural gas.

RWE announced a €850 million writedown on a long-term supply contract for Russian coal ahead of an EU ban this summer, while Uniper's majority owner Fortum said it will divest all activity away from Russia and reported heavy losses from its exposure to the country's energy, the firms said on Thursday.

A Papua New Guinea REDD+ project developer has rebuffed allegations published by local NGOs that it was unlawfully expanding its project and was exploiting local communities’ lack of awareness on how the voluntary carbon market works.

Green hydrogen produced in the EU and imported from abroad will be cheaper than all fossil-based hydrogen, according a report published on Thursday, meaning that the bloc must ramp up capacity, build international alliances, and avoid gas-based hydrogen production altogether for climate goals.

Brazilian company Moss.Earth said late Wednesday it will buy back up to 10,000 of its MCO2 tokens daily in response to the price falling almost 30% over the past week amid turmoil in the crypto market.

A New Zealand agricultural sector group has until the end of the month to submit an emissions pricing scheme proposal to the government, tailor made for the industry, in a bid to keep it out of the nation’s emissions trading scheme in 2025.

Oil and gas companies are upgrading their climate targets but the sector still faces a credibility gap due to reliance on technologies to mitigate emissions that are expensive and unproven at scale, a report released on Thursday has found.

Japanese trading house Mitsui has taken a 33.7% stake in one of Australia’s biggest carbon credit developers, its third big investment in the Australian offset market in just a year.

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

HSBC is looking to enter the carbon market focusing on voluntary offsets. While this market is still relatively small and fragmented, it is bound to grow as more and more organizations pledge to be net-zero carbon by 2050.

Verra is creating the new role of Administrator, Legal, Policy, and Markets for an exceptional individual to develop and implement effective business processes and to assist with other administrative tasks to ensure the efficient and effective operation of the team.

Verra is a global leader helping to tackle the world’s most intractable environmental and social challenges. As a mission-driven non-profit organization, Verra is committed to helping reduce greenhouse gas emissions, improve livelihoods and protect natural resources across the private and public sectors.

Brazil will soon create a carbon market by presidential decree, bypassing legislation that has stalled in Congress since last fall, a media outlet reported Wednesday.

Pennsylvania will offer roughly 15 million permits at the Q3 auction if it successfully joins the RGGI cap-and-trade system this summer, a government official told a court hearing Wednesday as the coal industry warned of devastating economic impacts from the programme.