Carbon Pulse

Australia on Monday said it would offer tax incentives for offset projects in the primary sector in a move designed to further drive supply of carbon credits.

Climate experts have paid tribute to one of the developing world’s foremost carbon market negotiators who died this week, just days after spearheading efforts to improve the environmental integrity of the voluntary carbon markets.

EU member states have doled out just over half of this year’s free allocation of ETS carbon allowances and some 94.5% of the quota for 2021, data shows.

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

We are looking for a Clean Fuel Standard Project Manager and Partnerships Specialist to oversee all of the work done by outside parties. This work includes managing a stakeholder advisory panel and overseeing agreements with outside parties covering equitable transportation electrification, an annual fuel supply forecast, and priorities for transportation electrification investments.

Emitters saw their California Carbon Allowance (CCA) net short position nearly flatten this week as prices lurched back from six-month lows, while speculators’ net long holdings sank to a new 10-month nadir, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

California and Quebec will slightly decrease the number of current vintage allowances offered in the jurisdictions’ May cap-and-trade sale, with a reduction in unsold volume offsetting a rise in V22 units, according to a notice published Friday.

International emissions trade could be used to incentivise the capture and removal of billions of tonnes of CO2, according to research commissioned by oil firms this week that set out how heavy industries could cooperate in light of net zero commitments.

California Low Carbon Fuel Standard (LCFS) credit prices spiralled to fresh four-year lows on Friday as traders saw little in the way of support coming into the transportation sector programme.

Italian utility Enel saw a 22% surge in ETS-covered power generation in 2021, according to annual results published late Thursday that showed an advance it its near-term hedging.

EUAs traded in a narrow range on Friday morning as high call options open interest at a strike price of €80 acted as a magnet for traders, while energy markets were mixed as Russia and the US traded words and analysts cautioned that economic risks from a drawn-out Ukraine conflict are underestimated.

The main body representing Australia’s carbon industry on Friday added its voice to those urging the government to delay the implementation of the rule allowing developers with a fixed government contract to abandon those and sell credits on the secondary market instead.

A sizable OTC block trade helped trading volume in China’s national ETS after the recent lull, though the market remains frustrated amid the continuing lack of regulatory progress.

A Nova Scotia-based carbon removal startup has raised nearly $8 million to build pilot facilities to deploy its proprietary carbon transition technology, which aims to speed up the earth’s natural process of removing carbon from the air and safely storing it in the ocean, the company announced on Friday.

The biggest of Japan’s regulated utilities said on Friday it will participate in the government’s voluntary emissions market that launches later this year, as the number of companies backing the scheme continues to tick up ahead of the Mar. 31 deadline.

Australia’s most populous state, New South Wales, will invest A$125 million ($92 mln) until 2030 to support farmers and land managers to reduce emissions, improve their access to environmental markets, and accelerate finance for natural capital and low carbon farming, the state government announced Friday.

This position will be responsible for leading the work to secure market access to high quality offshore mitigation.

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

As a Corporate Strategy Associate you will work in tandem with senior management to support the analysis of industry trends, and to leverage our knowledge base to shape projects and strategic initiatives across the group (with a particular focus on carbon project development).

A subsidiary of Occidental Petroleum has agreed to sell 400,000 direct air capture (DAC) credits to plane-maker Airbus, the companies announced late Thursday.