Carbon Pulse

EUAs failed to hold their recent intraday highs near €54 for a second day on Thursday, as this week’s rally in European carbon risked petering out amid a less supportive energy complex and ahead of an upcoming supply influx.

The UK government has published the latest trigger price for the Cost Containment Mechanism (CCM) in its new emissions trading system, as the market is still on track to elicit supply-side intervention possibly as soon as August.

The increasing commoditization of carbon markets makes us forget that behind these board room discussions, there is a real-world problem out there with the plight of real people at stake. While being an invention of the global north, carbon markets came with a great promise for us here in the South. The idea of backing voluntary claims with corresponding adjustments puts this promise at grave risk, writes Sandeep Roy Choudhury - Co-Founder of VNV Advisory Services, Co-Chair of the International Carbon Reduction and Offset Alliance (ICROA), and Director at the Carbon Initiative Forum.

Organization: Natural Strategies GmbH Position: Chief Investment Officer Duty Station: Remote with preference in Europe Deadline for Application: 30 June 2021

Surging US inflation has pushed California’s WCI-linked cap-and-trade floor price expectations further above $19, with the secondary market trading significantly above the estimated reserve level, according to federal data released Thursday.

Organization: Europe Beyond Coal / CAN Europe Position: Energy Data Analyst Duty Station: Berlin, Germany | Possibility of working from other locations in Europe Deadline for Application: 30 June 2021

Responsible for the success and sustainability of the Climate Finance program in the UK and Europe.

Climate Finance Consultant to support the execution of the work of the Implementation Strategies Team through Climate Analytics’ New York Office.

The GEF Secretariat is looking for a dynamic and experienced Climate Change Specialist, with a passion for clean energy, zero-emission mobility, nature-based solutions, and other innovative climate mitigation technologies.

Australian Carbon Credit Units (ACCUs) traded at A$19 ($14.69) in the spot market for the first time on Thursday as future compliance risk is supporting demand for the domestic units despite access to much cheaper international options.

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

New York is seeing rising generation from carbon-emitting sources amid an uptick in electricity demand, with the trend coming as RGGI emitters ramped up allowance purchases at last week’s quarterly auction, data shows.

California compliance offset generation maintained a recent sluggish trend this week, while Quebec saw its credit issuances surpass the 1-million mark for the first time, according to government data released Wednesday.

The European Commission is joining a lawsuit filed at Europe's highest court by Czechia against Poland over an open-pit lignite mine near the two countries' border.

EU carbon prices rose more than €2 on Wednesday to top €54 for the first time in two weeks, as bullish technicals, a strong auction, and a supportive energy complex helped push prices back towards record levels.

The European Commission will create a ‘climate action social fund’ with revenues from an expanded carbon market if it decides to bring emissions from vehicles and buildings to the EU ETS, the bloc’s climate chief Frans Timmermans said on Wednesday.

Shell will “accelerate” its energy transition strategy and will likely take “some bold but measured steps” in the coming years to reduce emissions, its CEO said on Wednesday, after a Dutch court ruling ordered the oil major to substantially cut greenhouse gases by the end of the decade.

A veteran carbon market analyst is to join hedge fund Andurand Capital Management, where he will advise on the launch of new environmentally-focused investment vehicles.

Melbourne-based Tiverton Agriculture Impact Fund has taken a majority stake in an Australian offset developer and carbon advisory firm.

Corporate Carbon Advisory is seeking a Carbon Account Executive to play a key supporting role in a team-based approach to developing and operating the firm’s portfolio of Emissions Reduction Fund (ERF) projects.