Carbon Pulse

EUAs resumed their record-breaking run on Thursday, climbing back above €50 to extend the week's all-time high as bullish sentiment continued to hold sway.

Steelmaker ArcelorMittal saw a substantial demand recovery in Q1, achieving the “strongest” quarterly results in a decade following the COVID-19 crisis, it said in financial results on Thursday that also unveiled new deals to reduce emissions at its European facilities.

Environmental markets platform IncubEx has hired a new director to further develop its European carbon and renewables certificates offerings.

California Low Carbon Fuel Standard (LCFS) rebounded towards a one-month high this week even after the programme posted its highest quarterly credit surplus in four years.

South Korean carbon allowances have rebounded 28% since hitting a 5-year low last month, though uncertainty is high in the market as the government has yet to announce the exact ETS emissions balance for 2020.

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

Standard-setting body Verra this week accused Greenpeace of misrepresenting its forest carbon offset methodologies and cherry-picking expert opinions to undermine the credibility of its REDD+ projects in two recent articles.

More lenient carbon intensity benchmarks at the outset of Washington state’s recently passed low-carbon fuel standard (LCFS) will limit the impact of the programme until the latter half of this decade, traders said.

The private sector Taskforce on Scaling Voluntary Carbon Markets (TSVCM) has collectively arrived at a solution for what ‘co-benefits’ should count as part of a carbon credit. It believes this will help maintain quality in the market, increase transparency and also create a mechanism to develop an appropriate pricing benchmark for these ‘co-benefits’, according to Chris Leeds of Standard Chartered.

EUAs lifted back above €49 on Wednesday, clawing back all of the previous session's losses that followed the market's first-ever break above €50.

The launch of Yara’s Agoro Carbon Alliance will address agriculture’s global greenhouse gas emissions and will turn the carbon capturing potential at farm level into a sustainable growth business while providing a new income stream to farmers worldwide.

As the Carbon Cropping Agronomist you will have responsibility for Agoro Carbon Alliance sales and agronomic activity within your geography. The Agoro Carbon Alliance, initiated by Yara, is a global business created to help farmers earn additional revenue through carbon cropping. Our mission is to build a more sustainable and profitable food future by decarbonizing the food value chain with the help of farmers and partners across the globe.

Pennsylvania released a draft final RGGI regulation on Tuesday that maintains its initial CO2 cap levels criticised as weak by academics, as well as a 2022 contingency plan amid fervent opposition to the power sector cap-and-trade programme from Republican lawmakers.

A new offset developer with an extensive pipeline of peatland credits is looking for a young energetic and highly motivated partner to implement & manage the offset delivery cycle. The founders have extensive carbon offset experience and well-established contacts with landowners in Scotland.

The German government will next week propose legislation to move its domestic climate neutrality objective forward by five years to 2045 and set higher targets for 2030 and 2040, its finance minister announced Wednesday, in response to a court ruling last week.

The US EPA’s proposed regulation to reduce high-global warming potential HFCs could impact voluntary offset initiatives in the short term, as well as limit expansion options for California regulator ARB’s ozone-depleting substance (ODS) protocol, market participants said.

The European Commission on Wednesday presented an updated EU Industrial Strategy, underlining its support for European clean steel production and hinting at the creation of an EU-wide carbon contract-for-difference (CCfDs) scheme.

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The British government will next week publish this year’s free carbon allowance allocation quotas under the new UK ETS, with distribution set to begin "shortly after" that following several months of delays.

UK-based firms ClimateCare and Natural Capital Partners have merged to help build global scale in the rapidly expanding voluntary carbon market.