Carbon Pulse

European Commission President Ursula von der Leyen said on Monday that the EU should aim to drive the cost of green hydrogen to below €1.8 per kilogram by 2030, hitting a price level that would secure market competitiveness for the low-carbon fuel.

A major US investment bank has added to its growing carbon desk in Singapore by hiring a dedicated head of Asian environmental products.

Oil major BP is planning to build a new, large-scale green hydrogen facility in the Teesside area of England’s north-east, with capacity that could reach 500 MW by 2030, the company announced on Monday.

Australian carbon offsets continue to rise to unprecedented levels but on small volumes, while the minting of new units the past week returned to regular levels after a brief dip.

The successful candidate will provide professional, efficient, and cost-effective forest management service to clients, oversee overall coordination of the registration and management of carbon projects.

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

The European Parliament's cross-party trade committee is seeking changes to the EU's proposed Carbon Border Adjustment Mechanism (CBAM) that could substantially lower costs faced by US emitters, according to a draft report published this week.

A voluntary measure to reduce shipping's black carbon emissions in the Arctic was adopted at the UN's International Maritime Organisation (IMO) negotiations on Friday, a move welcomed by green groups as a modest step while other climate decisions for the sector were deferred. 

The incoming German cabinet is laying out plans to compensate its citizens for higher energy prices, in a move designed to enhance the acceptability of carbon pricing on consumer-facing sectors while safeguarding social justice.

The UK ETS will face its first regulatory test at the start of December as the market’s Cost Containment Mechanism (CCM) will be triggered this month, though sources are fairly divided as to if and how the government will ultimately intervene.

EUAs gave up all of Thursday's gains in the opening minutes of Friday's session as traders reacted in line with sharply lower energy markets to reports of a new Covid-19 variant emerging in South Africa.

Offset standard manager Verra has disassociated itself from an offset-backed blockchain venture that has driven the retirement millions of its VCS units in recent weeks, but also said it would seek to work with market participants to find solutions.

Prices in China’s carbon market barely budged over the past week, as there is still a lot of uncertainty even with just three weeks left for 2019 and 2020 compliance.

Small groups of countries can band together in Climate Action Teams (CATs) under the Paris Agreement’s bilateral trading mechanism to drive high-quality economy-wide emissions reductions in seller countries to help all participants meet their climate targets at lower cost, researchers said Friday.

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

EU carbon will enter “calmer waters” in 2022 as permits follow gas lower, analysts said, while also raising their EUA price forecasts.

Switzerland sealed its fifth and sixth bilateral crediting agreements on the sidelines of the Glasgow UN climate talks this month, touting the deals as a model of Paris Agreement-era emissions trade for countries as well as for companies in the voluntary carbon market.

Climate progress under the UN’s International Maritime Organisation (IMO) faced another roadblock Thursday, as a handful of countries moved to block a resolution to reduce black carbon emissions in the Arctic – even though these were voluntary, non-binding measures.

EUAs reached their eighth record in nine days on Thursday morning as the market broke above €74.00 for the first time, as speculative participants resumed buying and options traders continued to hedge open call positions.

Australian-headquartered investment bank Macquarie Group has hired a nature-based solutions expert to take up the role of vice president of global carbon at its Singapore office.