Carbon Pulse

European carbon prices closed higher on Tuesday after trading lower for most of the session following another weak auction results and amid nervousness in wider financial markets.

The Utah legislature is unlikely to restore funding this year to challenge California’s cap-and-trade programme and emissions performance standards (EPS) due to budget constraints, though the issue may return next year, a state lawmaker told Carbon Pulse.

The European Commission plans to launch a second call for projects under the Innovation Fund in early December, shortly after the deadline for the first call has ended, an EU official said on Tuesday.

The energy demand drop due to the coronavirus pandemic will remove some 2.5 years’ worth of global energy emissions through 2050, according to researchers, who nonetheless say that the world is still heading for 3.3C of global warming.

Australia’s Clean Energy Regulator has released guidelines that will allow facilities with emissions or offset obligations at state level to establish projects under the federal carbon credit programme.

Vietnam has signed a deal with the World Bank’s Forest Carbon Partnership Facility (FCPF) that could earn the country over $50 million from cutting greenhouse gas emissions from forests over the next five years.

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

Oil major BP has agreed to buy carbon credits from a new forestry project in northern Wisconsin, adding to the company’s growing procurements of voluntary market offsets from US-based initiatives.

EUA prices tumbled back below €24 on Monday, giving back all of Friday's 5% surge on another weak auction and technical selling over wider market weakness due to rising coronavirus infection rates.

A lawsuit challenging Virginia’s cap-and-trade regulation is not expected to disrupt the state’s entrance into the Northeast US RGGI carbon market next year, according to regulatory and government sources. 

The EU must be fully transparent when designing a carbon border adjustment mechanism (CBAM) and join forces with other nations or it risks distancing itself from trade partners, a former EU trade commissioner said on Monday.

The Ministry for the Environment looks set to take up an interim role as auction monitor in New Zealand’s emissions trading scheme, as the COVID-19 pandemic has delayed the process of developing regulations for a permanent monitor, according to newly-released internal government documents.

Bluesource seeks a Manager of Remote Sensing & GIS to play a role in the Bluesource forestry team’s modeling efforts and support project implementation in the forest carbon space.

Bluesource seeks a dedicated forest industry professional to support the forest carbon implementation team through every stage of carbon project evaluation, implementation, verification, and monitoring.

GIZ looks for a project manager to provide expert advice as well as content-related conceptual tasks on sustainability with a focus on climate protection, decarbonisation and energy.

Bellona Europa is looking to recruit a Policy Assistant to support its EU policy work on the decarbonisation of transport and heavy industry.

Key ministries and financial regulators have circulated a set of opinions on climate finance regulations in China, boosting prospects for domestic and foreign investors to trade CO2 allowances and the development of carbon-related financial products.

Japan will reduce its net greenhouse gas emissions to zero by 2050, Prime Minister Yoshihide Suga said on Monday, though a full suite of policies to meet the target has yet to be decided.

Administer and manage AgriProve's portfolio of soil carbon projects under the Emissions Reduction Fund (ERF).

The Head of Certification will be responsible for oversight of all certification processes and the management of a remote, multicultural certification team.