Carbon Pulse

Australian oil and gas producer Woodside’s merger with BHP’s petroleum unit will enhance its ability to navigate the energy transition though it will rely heavily on offsets to meet climate targets, the company said on Friday, as it released a slew of documents recommending that shareholders approve the deal in a vote on May 19.

Allowance prices in China’s national emissions trading scheme edged up slightly this week on signals the government might make significant cuts to allocation, but a lack of confirmation and the long lead-time to the next compliance deadline tempered the market response.

Another exchange-traded fund tracking global carbon markets has added UK Allowances (UKAs) to its holdings.

The Australian Clean Energy Regulator has published new guidance outlining what it considers a fit and proper person (FPP) to be a carbon market project proponent in the Emissions Reduction Fund, in a bid to help restore confidence in the market.

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

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Germany’s national ETS for heating and transport fuels (nEHS) includes cost relief measures for households that should be mirrored by the EU in the design of their new carbon market the same sectors, according to a position paper from a network of environmental organisations.

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The northeastern US RGGI carbon market faces a number of challenging headwinds in the next few years that could potentially weaken the scheme or depress permit prices, an expert has warned.

The Oregon Department of Environmental Quality (DEQ) on Thursday announced it has made the first distribution of compliance instruments in its new market-based emissions reduction system.

Canadian Prime Minister Justin Trudeau’s administration on Thursday included investment tax credits for carbon capture, utilisation, and storage (CCUS) and clean technologies among its budget measures to get to net zero emissions by 2050.

The Pennsylvania Department of Environmental Protection (DEP) on Thursday filed a notice of appeal to the state Supreme Court after a lower court this week stayed the publication of the agency’s final RGGI-modelled cap-and-trade regulation.

Canada’s forthcoming oil and gas emissions cap could offer an avenue to carbon offset demand, as the government leaves all options on the table, including both domestic and internationally-sourced credits, a panel heard Thursday.

RGGI Allowance (RGA) prices leapt to a 1.5-mth high on Thursday after fluctuating for much of the week on news regarding Pennsylvania’s possible programme entrance, while California Carbon Allowance (CCA) values ticked up as traders maintained a bullish outlook.

The US EPA on Thursday reversed three dozen Renewable Fuel Standard (RFS) compliance waivers at the subject of a federal court order, though regulated parties won't have to retroactively turn in credits (RINs) as part of the decision.

US tech giant Microsoft’s climate innovation fund has made an equity investment in an Africa-based carbon credit developer, alongside a group of venture capital and family office investors.

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Sweden has become the first country in the world to adopt a target to reduce consumption-based emissions generated abroad, the government said on Thursday after a deal struck across political parties to include the goal along with international aviation and shipping.

The UK has extended its carbon compensation package for heavy industry for another three years, it outlined in an energy strategy released on Thursday, seeking to protect carbon leakage-exposed firms from indirect costs arising from the country's carbon pricing policies.

EUAs turned upwards after one of the strongest sales of the year early on Thursday, defying a largely weaker energy complex as Italy appeared to play down prospects of an EU ban on Russian gas.