Carbon Pulse

Companies' net zero commitments are becoming more robust, but still vary widely by sector and do not demonstrate a clear pathway to decarbonisation by 2040, according to analysis published Tuesday.

Virginia utility Dominion Energy backed its auction-focused approach to RGGI compliance amid criticism about failing to account for long-term CO2 abatement trends, while the company disclosed it held a small shortage in the regional power sector carbon market through Q1, according to public documents.

EU presidency holder Portugal is proposing to cap the carbon removals that can be used to meet a strengthened 2030 emissions target, according to documents seen by Carbon Pulse, in a compromise designed to unblock stalled negotiations on the bloc's Climate Law.

EUAs rose back above €44 early on Wednesday, but a challenge to this week's record levels was beaten back after a weaker auction.

France’s Saint-Gobain has launched an internal carbon fund to incentivise employees to cut the building materials manufacturer’s emissions, while monetising some of those actions to fund new abatement initiatives within the firm.

South Korea has postponed its scheduled CO2 allowance auctions for April and May amid the lowest secondary market KAU prices in more than five years, shifting the volume to the June sale just weeks ahead of the annual compliance deadline.

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The EU must tighten sustainability criteria for forest-risk imported commodities and introduce mandatory due diligence requirements, environmental campaigners said in a report published Wednesday.

A modest CO2 price could help spur investment, bolster economic growth, and help the US meet long-term climate goals, with the mechanism having little impact on economic recovery from the COVID-19 pandemic, according to a new report published Tuesday.

More than 300 businesses and investors active in the US have called on President Joe Biden to deliver a Paris Agreement target that roughly doubles the previous commitment made under Barack Obama’s administration, according to a letter published Tuesday. 

Transportation and Climate Initiative Program (TCI-P) jurisdictions should raise the proposed fuel sector carbon market’s minimum and reserve tier trigger prices, while providing additional clarity and responsibility for equity advisory groups, environmental organisations wrote in public comments.

Shipbrokers are launching dedicated carbon trading desks or forging ties with market experts ahead of looming regulation and amid rising interest in mitigating the climate impact of their voyages.

EUAs hit an all-time high for the second straight day on Tuesday, but prices quickly fell back below €44 on losses put down to profit-taking.

Five Washington state senators this week reiterated their support for significant changes made to a recently-passed low-carbon fuel standard (LCFS) bill, saying any final proposal must maintain its ties to a comprehensive transportation funding package and legislative reauthorisation to earn their backing.

California’s WCI-linked cap-and-trade floor price is on track to rise near $19.00 in 2022 due to higher inflation in March, according to federal data released Tuesday.

Australia's Clean Energy Regulator has issued just over 230,000 carbon credits in a little less than a week, while the government has opened funding applications for its new biodiversity pilot scheme.

A carbon tax of $25/tonne could put a significant dent in Asia-Pacific greenhouse gas emissions, but would have to be raised to three times that level to be in line with a 2C or lower global warming target, according to the International Monetary Fund (IMF).

An emissions trading scheme with steadily tightening benchmarks and increased use of auctioning could cut CO2 emissions from China’s power sector by over 1 billion tonnes by 2035, according to the International Energy Agency (IEA).

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Two of the world’s largest investment firms have teamed up to fund next-generation solutions to cut greenhouse gas emissions.