Carbon Pulse

EUAs gave up Friday's gains by mid-morning after the daily auction cleared at a significant discount to the prevailing market, while energy markets weakened amid signals from Gazprom that a break in gas supplies could be avoided.

Competition intensified in the voluntary carbon market Monday after the London-based Intercontinental Exchange (ICE) launched its much touted first nature-based carbon credit futures contract as it seeks to pinch market share from rival Chicago-based CME.

The New Zealand government on Monday set out its first three domestic emissions budgets between now and 2035 ahead of the release of its economy-wide Emissions Reduction Plan (ERP) next week, though impact on the ETS cap was unclear while the nation's need to buy credits from abroad remains unchanged.

Reporting to the Energy and Carbon Supply Lead this role is required to be the Subject Matter Expert in the category of Carbon, maintaining appropriate systems and processes to manage carbon, effecting commercial agreements that optimise carbon offsets and strategies which eliminate carbon emissions.

Reporting to the Energy and Carbon Supply Lead this role is required to provide commercial analytical, financial modelling, research and negotiation support in the categories of Carbon and Energy.

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

US forest landowners on the NCX carbon platform received the same credit price for deferring harvests for a single year this spring as they did during the previous quarter, though the number of landowners was much larger compared to a year ago, according to data published Friday. 

Regulated entities in the California and RGGI cap-and-trade programmes added to their allowance holdings this week, while speculators trimmed their positions as the April contracts went to delivery, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

Senior MEPs negotiating EU carbon market reform may be nearing a deal on accepting a proposed second ETS for buildings and road transport, according to draft compromise amendments seen by Carbon Pulse on Friday.

Biofuel producer Renewable Energy Group (REG) saw higher year-on-year revenues from selling California Low Carbon Fuel Standard (LCFS) and Renewable Fuel Standard (RFS) credits during the first quarter of the year, according to a company filing published Thursday.

The UK is tightening the rules of additionality for forestry projects after a surge in the number of large-scale woodland planting projects tested the current criteria “to its limits”.

Hydro levels at multi-year lows across Europe will continue to support ETS-covered fossil fuel burn amid an already-tight regional power mix, with analysts expecting that the resulting rise in coal and gas generation could offset reductions from renewable capacity expansion in 2022 and support a year-on-year rise in EU power sector emissions.

Several European airlines this week reported greater confidence in achieving a sustained rebound in passenger numbers in 2022 due to easing pandemic restrictions, but demand will remain well below pre-pandemic levels meaning any resulting EUA and offset impact is likely to be muted.

Carbon prices repeated the early gains of the previous day on Friday, reaching a session high just below €92 amid robust buying, while energy markets drifted amid a worsening macroeconomic outlook and strong LNG supply to Europe.

A second shipping company has joined a unique scheme in the marine industry that allows participants to claim carbon credits for investment in retrofitting of vessels designed to reduce emissions.

Australia’s waste and resource recovery industry wants a bigger say in offset methodology issues on the basis that it generates more than one-third of all the Australian Carbon Credit Units (ACCUs) in the market.

Ontario’s opposition parties began campaigning this week to unseat the Progressive Conservatives in the June 2 election, with Premier Doug Ford’s decision to scrap the province’s WCI-linked cap-and-trade programme four years ago still looming large over the jurisdiction's climate policy.

AgriProve Solutions has added additional projects to the Clean Energy Regulator’s (CER) project registry, as opposition energy and climate spokesman Chris Bowen reiterated the Labort party’s commitment to add Safeguard Mechanism Credits and review Australia’s broader carbon market.  

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

The Pennsylvania Commonwealth Court has rescheduled a hearing for next week where GOP lawmakers and the coal industry seek to block the implementation of the state’s RGGI-linked cap-and-trade regulation in July.