Carbon Pulse

he American Forest Foundation (AFF) seeks a highly motivated candidate to join the Family Forest Carbon Program (FFCP) Team. Individuals and families own 36% of America’s forests – more than any other ownership group – and are critical to unlocking U.S. forests as a Natural Climate Solution.  Were 20% of these lands to implement management activities that improved carbon sequestration and storage by 2030, an additional 2 gigatons of CO2e would be sequestered and stored over the balance of the century.

UK-headquartered low-cost leisure airline Jet2 has launched what it calls “one of the world’s largest” aviation offset programmes, neutralising all emissions not already covered by compliance schemes.

EU nations should face penalties for every tonne of emissions exceeded in non-ETS sectors based on prices in the bloc’s carbon market, Bloomberg reported on Friday, citing draft plans set out by the lawmaker steering scrutiny of the revised Effort-Sharing Regulation (ESR).

Speculators significantly increased their California Carbon Allowance (CCA) holding this week as prices dove, while compliance entities modestly decreased their net short position, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

Quebec’s initial free allowance distribution for 2022 slightly regressed from the previous year, even as the number of industrial cap-and-trade emitters receiving allocation increased, according to data published by the province’s environmental ministry.

A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including a market-based climate policy in New Mexico.

President Joe Biden announced his nominations for three top Federal Reserve officials on Friday, advancing climate change considerations into the central bank’s influence over the financial sector.

Credit generators under the California Low Carbon Fuel Standard (LCFS) called on regulator ARB to strengthen carbon intensity (CI) reduction targets for the programme, while refiners said a long-term market signal was important but declined to provide specific goals, according to public comments.

Analysts predict that a reduction in French nuclear output flagged by utility EDF for 2022 will lead to a net rise of around 20 million tonnes of EU CO2 emissions, spurring additional demand for EUAs from the additional gas and coal burn and putting the carbon market on notice for future announcements.

This role is a key contributor to Shell’s global carbon market analysis with a focus on offering comprehensive and regular fundamental analysis and forecasting of the global carbon offset market. The analyst will be responsible for bringing all the internally derived Supply, Demand, Infrastructure views together and modelling those key drivers through custom In-house and external models to derive the short to medium term market forecasts across all the regions and products in the carbon offset markets.

The EU lawmaker steering ETS reform is working on measures to prevent carbon market "manipulation", he said on Friday, vowing to ensure such steps don't punish companies with emissions obligations.

Washington has adopted ground-breaking legislation to address climate change by sharply reducing Greenhouse Gas (GHG) emissions and achieve carbon neutrality. We are looking for an environmental engineer to be a part of the GHG review and verification efforts for reporting facilities and fuel suppliers.

The Air Quality Program (AQP) within the Department of Ecology is looking to fill a Senior VW Settlement Project Specialist (Environmental Specialist 5) position. In this position, you will work with a highly collaborative team to invest over $100 million in projects that reduce greenhouse gases and toxic pollution from transportation, improving air quality in communities around the state and combating climate change.

European carbon prices posted robust gains on Friday morning in concert with firmer energy markets, as traders reacted to news that French utility EDF expects to generate up to 30 TWh less power at nuclear units in 2022 after faults were discovered in several of its plants.

Chinese carbon allowance prices remained largely stable over the past week as market participants await the official allocation plan for 2021, while offsets are being offered at far above market prices amid severely limited supply.

Strong growth in global electricity demand of 6% in 2021, brought about by the recovery of global GDP from the Covid-19 induced slump from the year before and extreme weather conditions, saw electricity CO2 emissions spike by nearly 7% to reach a record level in the year of COP26, the International Energy Agency (IEA) stated on Friday.

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

EDF has downgraded its estimate for nuclear output for 2022, the French utility announced late Thursday, as a result of extensions of the outage periods for five of its reactors due to defects.

EU nations will need to ramp up their efforts in order to achieve the long-term ETS emissions reductions targets set out under the bloc’s new climate package, a European agency warned Thursday.

Slovenia has announced that it will pursue a coal phaseout by 2033 at the latest, as the Balkan nation becomes the 23rd European country to announce an exit strategy.