Carbon Pulse

Prices for voluntary emissions reductions (VERs) edged up to new heights this week with both lower-end CORSIA-eligible credits and mid-range nature-based units making gains, while Xpansiv market CBL reported a fourfold year-on-year rise in its carbon trade for Q2.

Morocco wants to introduce a national levy on carbon emissions as part of a wider overhaul of the country's tax system.

The Senior Advisor and Team Leader leads the Country Office team in developing, designing and executing the Sustainability portfolio for UNDP India under the guidance of the Deputy Resident Representative. S/he also works in close collaboration with other policy and programme portfolios to ensure a collaborative and harmonized joint UNDP programme.

EU carbon prices climbed back to €58 on Monday, as more gas gains lifted EUAs while traded volumes appeared subdued amid a US holiday.

The European Commission intends to introduce minimum taxes for aviation and maritime fuels to align its energy taxation rules with its carbon market expansion, according to a draft seen by Carbon Pulse.

Agricultural Bank of China has approved a loan to an olive oil company taking future expected income from carbon credit sales as security, as lenders keep exploring ways for forest owners to secure hard-to-get loans after the government identified carbon sinks as a key means to meet China’s long-term climate goals.

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

UK carbon allowances just ended their second straight month above the trigger for possible market intervention, but views are mixed as to whether the British government will decide to unleash more supply into the market in an attempt to dampen rising prices if the Cost Containment Mechanism (CCM) is activated at the end of July.

The Green Climate Fund's board clashed this week over several climate adaptation projects, disbursing $500 million mostly to mitigation schemes and falling behind in its aim to balance its funding.

Speculative firms increased their California Carbon Allowance (CCA) positions over the week as their cumulative holdings rose above the 100-million mark, while emitters’ short positions increased at the futures expiry, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

EUAs failed to extend the previous session's all-time high on Friday despite steadier energy prices, but still managed to lock in a solid 4.2% weekly gain.

Colombia may have lost millions in carbon tax revenue while doing little to advance its climate goals, according to an NGO investigation into two REDD projects that raises questions about how forest carbon projects interact with government rules.

A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including developments in California, New Jersey, and Rhode Island.

New Zealand carbon allowances on Friday rose to new record levels as demand remains strong after a number of traders were left wanting at the June auction.

More than 12 million Chinese Certified Emissions Reductions (CCERs) traded across all platforms in the Chinese market in June, setting a new record, but the ETS delay and lack of clarity about future offset issuances is creating challenges for traders.

Swiss commodities trading house Mercuria has launched on environmental products, launching a new business led by veteran market players, many of whom have recently left oil majors including BP and Shell, Carbon Pulse has learned.

Private sector companies are likely to face more legal challenges seeking to force them to adopt more ambitious emissions-cutting policies in the coming years, as climate-related litigation increases “dramatically”, according to a report published Friday.

If Europe is serious about remaining a frontrunner in meeting the objectives of the Paris Agreement, then it urgently needs an ambitious EU ETS reform to clean up its historic addiction to free handouts so the practices of sustainable frontrunners become the market norm, argues Leon de Graaf of #SustainablePublicAffairs.

We are looking to hire an experienced hands-on Carbon Offset Project Manager on a permanent basis. Location for the role is based at our London office, and we are happy to consider non-UK citizens that are willing to relocate. There would also be regular travel to Africa.

The municipal government of Wuhai city in Inner Mongolia on Friday released documentation showing that provincial authorities have issued administrative punishment to a company for falsifying data related to its CO2 allocation under China’s national emissions trading scheme.