Carbon Pulse

The Bank of Canada has modelled a rising global carbon price aligned to the Paris Agreement temperature goals, outlining how the Canadian economy would need to be restructured to avoid the worst shocks that this would pose on the financial system.

EUAs drifted lower in line with weaker energy markets on Wednesday morning, as natural gas fell back on news of increased LNG supply.

The Guangzhou Futures Exchange has entered into a partnership with Deutsche Boerse and its subsidiary EEX as it continues to position itself to take a share of China’s emissions trading market.

Analysts at an investment bank have doubled their carbon price outlook for 2023 and by almost 50% for the 2022-30 period as a whole, judging that EU ETS allowances are becoming “increasingly scarce”.

Japan has adopted new rules for its Joint Crediting Mechanism (JCM) that may see its carbon credits over time become available to the CORSIA aviation offsetting scheme or the international voluntary carbon market.

Australia has adopted three new offset methodologies, including a first approach to generate carbon credits from coastal wetland ecosystems, in a bid to increase supply to a squeezed market.

The CO2 price in Guangdong’s regional carbon market has risen to its highest level since June 2014, as the government has tightened allocation settings and plans to bring in new sectors to breathe new life into the system after power producers transited to the national ETS.

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

*PREMIUM LISTING: The Business Relationship Manager will be responsible for Gold Standard’s client management and ongoing relationships with its community of project developers and related market partners. The Business Relationship Manager, reporting to the Head of Environmental Markets, will play a key role connecting the ongoing work and evolution of Gold Standard with the experience, knowledge and priorities of its partners and users, ensuring we move forward together to deliver climate security and sustainable development for all.

Two EU member states are making moves to further complicate efforts to reform the bloc’s carbon market.

Russian oil giant Rosneft has inked a deal with one of the country’s commodity exchanges to cooperate on carbon trading, and in particular to explore holding emissions unit auctions.

Commodity price reporting agency OPIS on Tuesday announced it has deployed a series of new voluntary emissions reduction (VER) assessments, including a single combination of CORSIA-eligible and nature-based credits as well as the price premium associated with offset project co-benefits.

The Canadian environment ministry this week released the first two draft protocols under the national carbon offset system, as it revealed further details on the delayed timelines for developing and finalising additional methodologies under the nascent programme.

We are looking for a motivated professional in climate change with background in multilateral development bank operations to support in the assessment of the alignment of our operations with the objectives of the Paris Agreement.

The Policy Analyst works with a team of professionals to implement provincial commitments on Nova Scotia’s Cap and Trade Program and other climate change mitigation actions. The policy analyst supports work on developing the Climate Change Plan for Clean Growth to be released in 2022, implementing the plan, and reporting on progress.

The role of Commodity Risk Analyst is a key analytical and control position within the Trading &Shipping - Finance and Risk organization. As part of the Low Carbon Trading (LCT) Commodity Risk team, this role is accountable for providing deep business understanding and control through the delivery of value-added reporting and analysis.

Prospects for linking carbon markets could hinge on how closely jurisdictions make provisions for offset use, according to a report prepared for the regulatory authorities of the EU, California, Quebec, China, New Zealand and Switzerland carbon compliance markets.

The EU's new Climate Action Social Facility should pay out a minimum of €72.2 billion to support poorer households rather than be fully linked to prices in the bloc's second carbon market, media reported on Tuesday, citing a draft report set to be tabled by senior lawmakers.

The principal role of the GHG Project Developer is to execute day to day activities on client carbon offset projects by providing top notch customer service and using a continuous improvement mindset to create efficient and effective systems and processes.

The UK ETS Authority will not add any additional UK Allowances to the British market after the market’s cost containment mechanism (CCM) was triggered for a second successive month at the end of December, it said on Tuesday.