Carbon Pulse

Spot allowances in South Korea’s emissions trading market on Friday rose to their highest level since the pandemic hit carbon last June, with this week’s monthly CO2 auction also reflecting the upwards trend.

Prices and volumes in China’s national carbon market remained relatively stable again over the past week, with little indication of impending pre-compliance volatility.

Japanese oil company Idemitsu is considering opportunities in the voluntary carbon market with generation of credits based on its technologies, and on Friday announced its first offset-backed crude oil transport.

Two of Australia’s major carbon offset developers on Friday announced a partnership that will allow them to take advantage of a project method expected next year that will allow several crediting activities take place on the same land.

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

New York-based carbon brokerage Evolution Markets on Thursday announced the launch of a new consulting arm to help companies establish and meet emissions reduction objectives and procure environmental credits.

EUAs climbed to a new five-week high on Thursday on what traders called "unconvincing" low-volume technical buying, which was helped by other energy markets rising on a Belarusian threat to Europe's gas supplies.

North American carbon prices continued to torch their recent all-time highs this week, with California Carbon Allowances (CCAs) failing to slow down before next week’s quarterly auction and RGGI Allowances (CCA) surpassing this year’s Cost Containment Reserve trigger level.

*PREMIUM LISTING – Finite Carbon is seeking a Forest Carbon Analyst to support the development of Finite’s growing portfolio of forest offset projects.

UN negotiations on Article 6 rules to govern international emissions trade took a step forward on Thursday when Brazil appeared to accept a compromise on accounting rules, two sources close to the process told Carbon Pulse.

Egypt was confirmed as the next host of the UN climate summit for late 2022, with the United Arab Emirates selected to host the meeting for the following year, current COP26 President Alok Sharma announced on Thursday.

The UK and Indonesia are eyeing a joint carbon trading exchange, according to reports.

A number of Chinese power plants unexpectedly face a shortage of allowances in the national CO2 trading scheme after neglecting to finalise the verification process for their 2019 emissions, according to market participants.

Climate talks in Glasgow carry on, with negotiators having just two more full days to agree on texts before entering the more or less obligatory overtime. Check in here for the latest news and updates throughout the day.

Fortescue Future Industries (FFI), the green energy subsidiary of Australian iron ore giant Fortescue Metals Group, has signed a memorandum of understanding (MOU) with US-based Universal Hydrogen to promote green hydrogen use in the aviation sector.

Chevron Australia will buy 5.23 million carbon offsets to compensate for failing to capture and store the required amount of CO2 emissions from its Gorgon LNG CCS project in Western Australia.

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

Countries facing exposure to the EU's planned carbon border adjustment mechanism (CBAM) are progressively easing their opposition as they envisage laying out comparable policies to avert carbon leakage, the European Commission's climate chief Frans Timmermans said on Wednesday.

California divvied out the fewest number of compliance offsets this week since spring 2020, although the number of California Carbon Offsets (CCOs) that lost their invalidation period swelled for the second consecutive issuance, according to data from state regulator ARB published Wednesday.

Washington’s WCI-modelled cap-and-trade system will not have any linkages when it commences from 2023, and it is uncertain when or even if the jurisdiction will ever join another programme, a state government official said this week.