Carbon Pulse

A British businessman nicknamed Batman has been jailed by German authorities for more than three years after confessing to his part in using the EU carbon market to commit tax fraud valued at €125 million.

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A new Canadian voluntary emissions reduction (VER) investment firm has signed a multi-year agreement to purchase credits from a clean cookstoves project in West Africa, as part of a $100 mln (C$128 mln) offset pipeline it is pursuing in partnership with a global carbon markets consultancy.

California Carbon Allowance (CCA) prices fell during the early part of the past week before paring back all of the losses, while RGGI Allowance (RGA) values fell away from all-time highs on lighter activity as the holiday season approached.

Forest carbon project developers should better target their activities to areas that can have the most positive climate impact, according to an OECD report that ranks the best countries for offset projects worldwide.

A voluntary carbon trader is joining Statkraft's Amsterdam office after parting ways with commodities merchant Cargill, Carbon Pulse has learned.

France is seeking to strike a early deal among EU countries on the bloc's proposed carbon border adjustment mechanism (CBAM) under its upcoming six-month term as holder of the EU Council presidency, according to a government official.

Carbon prices slumped in volatile and very thin trading on Thursday amid a wider sell-off in European energy, as gas and power prices fell sharply amid reports of a flotilla of US LNG cargoes headed across the Atlantic.

Russia wants to make sure that the carbon pricing system it’s developing is recognized by the EU and other major trading partners, Bloomberg reported on Tuesday, citing Deputy Finance Minister Alexei Sazanov.

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The next Emissions Reductions Fund (ERF) will be held in April, the Clean Energy Regulator announced Tuesday, even as the biannual event is set to shed its importance as private demand is hoovering up all available offset supply at record high prices.

The New York Climate Action Council (CAC) on Monday approved a draft Scoping Plan for orchestrating the state’s GHG reduction strategy, with members of the body softening language that had endorsed a clean fuel standard while adding a section on possible economy-wide CO2 pricing strategies.

The Washington Department of Ecology (ECY) on Monday announced it has signed an agreement with WCI, Inc. to provide a platform for allowances sales under its forthcoming cap-and-trade programme, a decade after the state left the North American climate collaborative it helped jumpstart.

Voluntary emissions reduction (VER) prices slipped in most standardised categories this week as a limited amount of sellers accepted lower levels while many participants eyed a new year recovery.

Another London-based hedge fund has reported big gains this year stemming from bullish bets in EU carbon.

EU carbon prices will reach €140 by 2030, said a team of analysts that has launched coverage of the ETS, with their forecast representing the most bullish outlook to date.

The US EPA on Monday released its final rulemaking for setting light-duty vehicle GHG standards that were rolled back under the Trump administration, as President Joe Biden’s agency opted to implement more ambitious compliance targets than the proposed rule set out this summer.

Several EU environment ministers criticised the allocation of revised non-ETS emissions targets on Monday, signalling a troubled path into law for the bloc's climate legislation to help meet 2030 goals.

Volume in the EUA market dropped away sharply on Monday as the benchmark Dec-21 contract entered its final hours of trading before expiry, while natural gas rallied slightly as Gazprom booked less pipeline capacity than expected for January.

Italy’s Eni consistently tops climate action rankings for oil firms, with its strong focus on renewables and wide goal-setting establishing the firm as a global leader in a big-emitting sector falling short overall.