Carbon Pulse

New Zealand should consider regulations to limit the potentially huge impacts that rapidly expanding carbon forestry in the nation could have on rural communities and traditional agriculture, according to a green paper released by a former lawmaker on Wednesday.

EUA prices plunged by more than €3 in early Wednesday trading after reports emerged suggesting a senior EU lawmaker will propose a relaxation of the parameters for injecting additional supply to the EU ETS in the event of a price spike.

A major Australian bank has invested $50 million in climate finance and advisory firm Pollination, as it aims to accelerate its global growth.

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WCI carbon market participants believe the Q1 sale on Wednesday will clear much more in line with historical levels after a massive discount in November, though they are less sure if the current vintage auction will settle at a premium or discount to the secondary market price.

The British Columbia Low Carbon Fuel Standard (BC-LCFS) recorded its first credit surplus in four years during 2020 amid a drop in petroleum-based fuel consumption and spike in renewable diesel supply, according to provincial data released Monday.

Offset developer and consultancy South Pole has bought a Swedish consultancy, it said on Tuesday, the latest of its acquisitions as it aims to keep pace with the rapid growth in corporate climate action.

The EU should hold off on proposing any EU ETS intervention until the bloc’s financial watchdog ESMA publishes a report on market behaviour, ten lobby groups urged on Tuesday, while Poland reiterated its call for Brussels to step in.

French utility Engie reported an 8% slump in EU ETS-covered coal and gas generation in 2021, it said in full-year results released on Tuesday that flagged new hydro capacity and high nuclear availability.

Carbon prices were volatile early on Tuesday as wider markets whipsawed in reaction to reports that some Russian troops were moving away from the border with Ukraine.

One of the most bullish EU ETS analysts has resigned from a German investment bank to increase his focus on carbon, Carbon Pulse has learned.

Japanese conglomerate Mitsui has teamed up with Gazprom Neft, the oil-producing, refining and retail fuel arm of Gazprom, in an agreement to promote the use of CCS in Russia and other countries where the two companies can collaborate, it was announced on Tuesday.

Three large banks have joined a venture launched by a group of regional financial institutions last year to launch a global voluntary carbon trading platform before the end of the year.

Japanese industrial giant Nippon Steel has signed an agreement to evaluate the feasibility of capturing and transporting up to 5 million tonnes of CO2 per year to an Australian offshore floating CCS project, Japan’s biggest steelmaker announced.

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Voluntary emissions reduction (VER) prices are likely to continue rising for up to five more years as supply struggles to keep up with increasing demand, analysts said in a report published Monday.

Entities regulated by the power sector RGGI cap-and-trade programme were not holding enough allowances to cover their CO2 obligations after the fourth quarter of 2021, according to a report published Friday.

Exchange-traded prices for standardised nature-based voluntary emissions reduction (VER) contracts fell for the third consecutive week, while CORSIA-eligible contracts retained greater resilience with talk of a major deal propping up prices.

Environmental organisations have urged the US Securities and Exchange Commission (SEC) to include mandatory reporting on carbon offset use as part of new climate-related financial risk disclosure requirements, with draft rules expected in March after repeated delays.

Speculators decreased their net length in California Carbon Allowances (CCAs) last week, as compliance entities added permits to their holdings, according to US Commodity Futures Trading Commission (CFTC) data published Friday.