Carbon Pulse

SK E&S, an energy subsidiary of South Korean conglomerate SK Group, will invest $110 million in a CCS project that aims to capture and store CO2 from over thirty ethanol plants in the US mid-west, the company announced on Tuesday.

A collaboration of major global banks announced on Tuesday it had facilitated a carbon offset trade between a corporate client and project developer through a new settlement platform due to be fully operational by the end of the year.

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

The rapidly declining cost of renewable energy with battery storage, coupled with increasing volatility in gas prices, now reflect that it is cheaper to make the switch from coal to clean sources of electricity than it is to shift from coal to gas-fired power, research released on Tuesday has found.

US carrier Delta Air Lines will shift much of the focus of achieving its CO2 neutrality goal to solutions other than offsets after spending $137 mln on voluntary emissions reductions for its GHG output last year, the company said in a recent report.

CO2 emissions from California’s electrical grid decreased year-over-year in February and March despite rapidly deteriorating hydro levels across the US West, according to California Independent System Operator (CAISO) data published Monday.

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. 

Weak demand for technology-based voluntary emissions reduction (VERs) credits kept prices pointing to the downside over the past week, while nature-based offsets offered relatively greater resilience, moving sideways or to marginal week-on-week gains.

Vermont Governor Phil Scott (R) on Friday vetoed a bill that would implement a market-based Clean Heat Standard (CHS), though advocates are confident the Democrat-controlled legislature will override his decision as soon as this week.

France’s biggest lime production plant is set to undertake an industry-first carbon capture project for the EU ETS-covered sector after teaming up with a major fuels provider.

Senior MEPs have failed to strike an early compromise over how quickly to replace EU ETS free allocation with a carbon border adjustment mechanism (CBAM), with an interim vote likely to favour a more rapid transition even as the European Parliament remains sharply divided. 

A carbon credit ratings agency has assigned ratings to eight more projects, it said in an update on Monday while upholding the ratings of three that had been flagged for review.

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.