Carbon Pulse

EUAs jumped to a new all-time high above €35 on Tuesday as gas and other European energy prices spiked on a looming blast of colder weather.

California’s lone nuclear power plant could be offline for several months, potentially resulting in the utilisation of more carbon-emitting sources to cover electricity demand in the first half of the year, several market participants said.

US GHG output is expected to have plummeted by double digits last year due to lower fuel consumption brought on by the coronavirus pandemic and a continued decline in coal-fired power, but analysts foresee these cuts will not sustain absent a structural change in the economy.

A Singapore-based energy trading firm has hired a former offset originator with Shell to help build a carbon trading business.

Developers under contract with Australia’s Emissions Reduction Fund have delivered more than 1.5 million carbon credits to the government since the start of December, while reports say Chevron is facing fresh problems with storing carbon at its Gorgon LNG platform.

South Korean carbon allowances have dropped by 38% since mid-December, as bearish sentiment has returned after a short-term surge in demand from energy companies ended.

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

Based at our Cannon Place office, the CBI Infrastructure and Energy team works with businesses and government to help change policy to enable the delivery of critical infrastructure and the transition to a low-carbon economy– including energy, transport and housing – which underpins the UK economy and supports a more prosperous and sustainable society.

As part of our continued efforts to lead the transition to a low carbon, sustainable global economy, an exciting opportunity has arisen for an experienced subject matter expert to help build and lead a new Climate Intelligence Unit for Macquarie Group, which will provide central resource to support businesses, functions and colleagues with actionable intelligence on climate science, markets, policy and competitors.

*PREMIUM LISTING (viewable by non-subscribers) – The Forestry Program Officer is an important technical role within the American Carbon Registry (ACR), providing support to the Director of Forestry, and other members of ACR staff on all aspects of registry management.

*PREMIUM LISTING (viewable by non-subscribers) – The Program Officer is a technical role within the American Carbon Registry (ACR), contributing to all aspects of ACR services, including, but not limited to ensuring the highest level of quality for all ACR-registered projects and related offset credits issued by ACR.

Governments and development banks pledged more than $14 billion on Monday over the next four years to restore 100 million hectares of land in northern Africa, an effort that would store an estimated 250 million tonnes of CO2.

The Northeast RGGI cap-and-trade scheme set aside slightly more allowances for free allocations in 2021, with an estimated 91 million carbon permits earmarked for quarterly auctions this year, according to programme data.

Two obligated parties under the US Renewable Fuel Standard (RFS) have filed separate lawsuits against a Texas-based commodity shop for failing to deliver biofuel credits (RINs) in fulfilment of contractual obligations.

The IEA plans to publish a roadmap for how the global energy sector can reach net zero emissions by 2050, it announced Monday while flagging that GHGs were set to rebound from pandemic-induced drops seen this year.

The Northeast US RGGI cap-and-trade scheme is expected to make a formal announcement soon about its upcoming programme review, kicking off the process to make further revisions to the power sector carbon market, regulatory sources told Carbon Pulse.

The Powering Past Coal Alliance is recruiting for a Programme Manager who will lead the administration and management of the PPCA secretariat. The role holder will work directly with members and partners in the practical delivery of the Alliance’s strategic objectives.

Ecorys is seeking new team members to join as consultants in the fields of Environment, Energy and Climate Change.

France will not advance an aviation tax increase suggested by a citizen-led panel, according to a leaked draft of its climate law that instead proposes compulsory offsetting of emissions from domestic flights. 

You will lead a dynamic team of six to seven officers responsible for developing and maintaining our competitive energy market, so that Singapore, as one of the few countries in the region that has liberalised its gas and electricity industries, can continue to enjoy affordable and reliable electricity and gas supply.