Carbon Pulse

Spot allowances in South Korea’s emissions trading scheme rose to a 19-month high on Monday as 20 financial institutions were accepted into the market to bolster liquidity.

The Alliance is rapidly expanding its portfolio of nature-based -solution programs and is seeking a motivated and experienced Technical Advisor to develop and support the technical work in carbon offset credits.

US Democratic Senator Joe Manchin on Sunday announced he will not vote for his own party’s budget reconciliation package, rebuking a critical component of President Joe Biden’s agenda and potentially destroying any chance Congress may have to pass significant climate-related bills in this term or going forward. 

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

*PREMIUM LISTING - The Policy and Data Analyst will be responsible for tracking and mapping the latest developments in sustainable finance, environmental markets, and scope 3 reporting and standards metrics. The role will also help shape the development of a digital version of the Gold Standard for the Global Goals (GS4GG) Standard and research to support the application of GS4GG metrics to corporate funds thereby driving investments to sustainable outcomes.

California and Quebec’s first auction of 2022 will decline in size from the last sale of 2021, as entities scooped up the majority of the remaining unsold allowances in the linked cap-and-trade market this year, according to an auction notice posted Friday.

Financial entities saw their net length in California Carbon Allowances (CCAs) usurp the 100-mln mark for the first time in a month, while regulated entities continued to shed holdings, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

Switzerland set out new climate proposals on Friday, upping its reliance on international credits and dropping flight and car fuel levies after its original plans were rejected this summer in a controversial referendum.

EU nations are struggling to get to grips with Brussels's 'Fit for 55' climate policy package, the outgoing Slovenian presidency warned on Friday ahead of a meeting of environment ministers next week.

A Utah livestock project registered under the California offset programme is seeking to transition into the state’s Low Carbon Fuel Standard (LCFS) via an electricity pathway, according to documents posted by regulator ARB this week.

EUAs collapsed by more than €10 on Friday as traders - some spooked by the threat of intervention - locked in profits ahead of the benchmark futures contract expiring on Monday, while energy prices weakened after Thursday's stunning increases.

*PREMIUM LISTING - The Programme Manager will support all Gold Standard sustainable development finance programmes and projects and help deliver their successful implementation. They are expected to also play a significant role in shaping the development of our in-house digital programme.

Global power generation from coal will rebound to an all-time high this year, driven by a worldwide economic recovery causing electricity demand to accelerate at a rate faster than low carbon sources of energy can keep up with, the International Energy Agency (IEA) said in a report on Friday.

Chinese carbon allowances rose to a 4-month high in Friday trade while volumes plunged, in what traders saw as a sign that emitters holding a surplus are unwilling to sell.

Expansion of scrap steel recycling technology will be a key nearer term opportunity to lower emissions from carbon-intensive steelmaking, especially among Asian producers such as China, Japan, and South Korea, where its use is lower compared with the US and EU, a report released on Friday has claimed.

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

EU leaders on Thursday failed to reach agreements on whether to intervene in the bloc’s carbon market and how to respond to sky-high energy prices, with the issues pushed to their next quarterly meeting.

Offset standard manager Verra is open to negotiating bilateral deals with companies that are creating assets based on its carbon credits, such as crypto firms, provided they pass a stringent due diligence test.

The Washington Department of Ecology (ECY) on Thursday presented its thinking on the baseline and initial allowance budgets for its WCI-modelled cap-and-trade programme, as it also revealed plans to adopt three offset protocols included in the California carbon market.

A US-based provider of specialised exchange-traded products intends to launch an ETF tracking carbon offset futures, according to regulatory filings on Wednesday.