Carbon Pulse

Classification society DNV has given a world-first in-principle approval of a tank system for liquefied CO2 transport, seen as a key step towards being able to ship large quantities of carbon dioxide to storage sites, a service some large companies aim to earn offset credits for.

The New Zealand Unit (NZU) spot price fell slightly on Wednesday, as market players weighed in on the effect the government’s recently proposed ban on exotic plants would have on market prices.

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

The number of surplus allowances and offsets in the California-Quebec cap-and-trade programme rose during the first quarter of 2022 as entities snapped up more unsold volume at the Q1 WCI sale, according to programme data published Tuesday.

The size of the June RGGI auction will inch up by roughly 2% from the Q1 sale, the power sector cap-and-trade scheme announced Tuesday, as a court order threw Pennsylvania’s expected Q3 linkage into question.

The Pennsylvania Commonwealth Court on Tuesday stopped a state legislative agency from publishing the state’s RGGI-modelled cap-and-trade regulation, just one day after senators failed to block the power sector programme from taking effect in Q3.

Toucan Protocol, which has brought over 20 million carbon credits on-chain in recent months, will bring its tokens onto a second blockchain in a bid to drive demand and expand DeFi infrastructure.

Scrutiny over corporate carbon accounting is ramping up fast as the UK is poised to become the world's first nation to impose detailed mandatory climate risk disclosures, while investors pump millions into firms that help companies manage the reporting process in expectation of a global roll-out.

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US-based carbon offset developer ClimeCo has raised over $50 million in an investment round led by two financiers that will see the firm expand into reforestation, mangrove restoration, and carbon capture, utilisation, and storage (CCUS), the company said in a release on Tuesday.

The company behind the world’s largest direct air capture (DAC) facility has raised $650 million in equity to scale up its carbon removal facilities as it aims to reach multi-million tonne removal capacity, the firm said on Tuesday.

The full European Parliament voted to approve an extension of the withdrawal rate of the EU carbon market’s supply-curbing MSR on Tuesday, an early indication of lawmaker resolve on climate ambition in the face of the Ukraine war and sky-high energy prices.

EUAs dropped on Tuesday morning as demand and market activity remained low-key, while coal prices jumped after reports emerged that the EU is preparing to ban Russian imports and Germany's grid regulator took control of Gazprom's local subsidiary.

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*PREMIUM LISTING - NatureCo is looking for a Senior Project Officer to help deliver nature-based climate solutions for investors, business and other purpose driven organisations to scale up action on climate change and biodiversity loss.

*PREMIUM LISTING - NatureCo is looking for a Project Officer to help deliver nature-based climate solutions for investors, business and other purpose driven organisations to scale up action on climate change and biodiversity loss.

South Korea will shave a third off the number of CO2 permits available at next week’s auction due to low allowance prices and choppy trading activity, the environment ministry said Tuesday.

A Spanish bank is to launch a new carbon business line for compliance and voluntary markets and has hired a veteran to front up the Madrid-based team, while a major trading house has bolstered its carbon line-up with another veteran hire.

A US-based technology venture is preparing to launch trade in offset forward contracts in a bid to boost pre-issuance funding for project developers.

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