Carbon Pulse

The structure of voluntary carbon markets (VCM) is expected to change dramatically as financial institutions become ever-larger participants in the space and corporate purchasing decisions shift from marketing departments to finance, a conference heard on Tuesday.

EU coal power could be largely eliminated this decade as the bloc’s carbon prices rise to triple digits to incentivise a cleaner energy, analysts said in a report on Tuesday, a shift in line with UN aims to limit global warming.

US biofuel credits set an all-time high in the decade-old history of the Renewable Fuel Standard (RFS) on Tuesday, coming as refiners appealed a lower court’s decision to the Supreme Court regarding the curtailment of compliance waivers under the programme.

EU carbon prices recovered from earlier lows on Tuesday as gas prices surged on concerns over Russian supply into Europe.

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

If total greenhouse gas emissions in new or updated country plans offer a mere 0.5% reduction, greater ambition is needed from governments to fill this gap. Can a robust voluntary carbon market play an important role in this context?

California fuel consumption dropped year-on-year in January as COVID-19 restrictions imposed by Governor Gavin Newsom (D) continued to cause demand destruction in the transportation sector, according to state data released Monday.

The Canadian environment ministry on Friday announced that New Brunswick will be removed from coverage under the federal ‘backstop’ output-based pricing system (OBPS), instead allowing the province to apply retroactive compliance obligations to emitters under its alternative regime.

Voluntary emissions reduction (VER) values were largely unchanged week-on-week even with significant activity in a new exchange-traded, nature-based offset, while several forestry project developers have reportedly entered into long-term forward agreements with above-market price floors.

California Carbon Allowances (CCA) surged on the secondary market Monday morning amid further rises in outright and spread demand ahead of the May auction, as  some said the trend bore similarities to heightened speculative involvement over the 2018-19 period.

Organization: Sandbag Climate Campaign Position: Industrial decarbonisation analyst Duty Station: Brussels or Paris or home-based Deadline for Application: 30 April 2021

Organization: Asian Development Bank Position: Climate Policy/Strategy Specialist (Just Transition) Duty Station: Home based Deadline for Application: 3 May 2021

US biofuel credit (RIN) credits surged back toward record prices on Monday on reported strong refiner demand, while stakeholders readied for Supreme Court oral arguments in a lawsuit regarding the EPA’s compliance waiver programme under the Renewable Fuel Standard (RFS).

Four RGGI states have exceeded Q1 2020 carbon output levels for the first quarter of this year, while two large-emitting members are on pace to do the same, according to preliminary CO2 Allowance Tracking System (COATS) data.

EUAs resumed their record-breaking rally on Monday, climbing towards €48 as some experts expected further gains this week before a correction upon the passing of the annual compliance deadline.

Washington state lawmakers this weekend approved a climate policy package that will see the state implement a WCI-modelled carbon market and low-carbon fuel standard (LCFS), but both programmes are still are contingent on the passage of a transportation funding package in the next year.

EU heads of state and government will on May 25 lay the groundwork on the bloc’s climate policy reform and debate key legislative proposals including the expansion of the carbon market to buildings and vehicles.

Veolia’s Australian subsidiary has delivered over 320,000 credits to the government’s Emissions Reduction Fund (ERF) in recent weeks, while NSW regulators declined to impose carbon offset requirements on a new coal mine despite the miner offering to accept such a measure.

CarbonCo is seeking an experienced Forestry Advisor to oversee the provision of carbon forestry advice to its customers, drive engagement with the forestry sector, and provide domain expertise in support of the ongoing development of our automated solutions.

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