Carbon Pulse

EU policymakers are struggling to reconcile an international climate club and a carbon border adjustment mechanism (CBAM), with both seen as flagship new climate policies respectively endorsed by European heavyweights Germany and France.

EUA prices declined in volatile Tuesday morning trading after the day's spot auction was cancelled for technical reasons and as energy markets declined amid continued mild temperature forecasts and a sharp uptick in natural gas supplies to Europe.

Woodside Burrup and energy firm LGI received the largest shares of credits in the Clean Energy Regulator’s latest issuance round, while airline Qantas has withdrawn a project after going more than six years without generating any offsets.

Japan on Tuesday began recruiting participants for its voluntary carbon market, which will launch in pilot form later this year and begin its full-scale operation in Apr. 2023.

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

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The California Low Carbon Fuel Standard (LCFS) registered its largest quarterly credit build in almost five years over July-Sep. 2021, as renewable diesel volume beat analysts’ predictions and renewable natural gas and electric vehicle credit growth kept up their torrid pace.

The world’s carbon markets grew by more than 2.5 times in 2021 to reach a turnover of €760 billion compared to €288 bln in 2020, as prices in six of the seven main compliance markets rose by an average 225%, according to a report issued on Monday.

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Standardised nature-based voluntary emissions reduction (VER) prices eased back from record levels this week as some participants flagged a potential pause in the market's consistent upward rally.

How the EU measures, certifies, and uses carbon removal outcomes under its climate policy package is up for debate until the end of the year, a conference heard on Monday as experts explored ways of integrating removal credits into the EU ETS and working with voluntary market standards boards.

RGGI CO2 output jumped higher than both 2019 and 2020 levels in the fourth quarter of last year, with emissions rising in nearly every state in the power sector cap-and-trade programme, official data showed on Monday.

EUA prices sagged in quiet Monday morning trading, extending Friday's losses after the weakest auction of the year to date, while energy markets also slid on an uncertain weather outlook as tensions with Russia remained high.

Ryanair saw its passenger rate jump almost 300% year-on-year to 31 million in Q4 2021, its highest quarterly total since 2019 despite the re-imposition of travel restrictions due to the Omicron coronavirus variant, the airline said in financial results on Monday.

The firm responsible for minting the majority of voluntary carbon credits as on-chain tokens has over the past few days without warning withdrawn a significant amount of nature-based BCT units ahead of launching a separate token, seeking to prevent speculators from crashing the price of the new credit.

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A proposal to let the agriculture ministry veto some offset projects deemed to have unintended consequences for rural Australia could destabilise the nation’s carbon market, according to a chief industry body.

APPEA, Australia’s oil and gas peak body, on Monday called for the federal government to provide tax and other incentives to secure investment in CCS and fossil fuel-based hydrogen to help meet the country’s recently set net zero emissions goals.

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

The South African government this week published a draft framework to help develop domestic carbon offset standards for use under the country’s carbon tax regime.