Carbon Pulse

Australian carbon project developers delivered over 1.2 million offsets to the government’s Emissions Reduction Fund (ERF) in the second half of July, to take the total GHG cuts generated under the fund so far past 57 MtCO2e.

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

BURN is seeking a Carbon Manager, who will be responsible for managing, growing, and improving BURN’s carbon offset generation projects. The Carbon Manager will be spearheading BURN’s carbon offset expansion across Africa and offset delivery through a variety of global offsetting arrangements.

A Massachusetts House of Representatives’ climate bill that passed Friday is facing heavy criticism from environmental groups for not imposing more stringent goals, while a non-profit fiscal group admonished it as a backdoor to a future fuel sector cap-and-trade scheme.

Fuel supplier Marathon Petroleum is exploring options for converting an idling California refinery into a storage facility or a renewable diesel plant for the state’s Low Carbon Fuel Standard (LCFS).

Public Service Enterprise Group’s (PSEG) decision last week to put its carbon-emitting sources across four power sector ETS member states up for sale could impact RGGI allowance prices, traders believe.

The 27-nation bloc's roadmap to add at least 40 GW of green hydrogen electrolyser capacity by 2030 paired with an increase in renewables generation could cause EUA prices to drop by more than €4/t, analysts said. 

Five trade associations filed a lawsuit on Friday claiming Oregon Governor Kate Brown (D) exceeded her authority by implementing a carbon reduction plan in targeted sectors and a more stringent clean fuels programme via executive authority earlier this year.

EUAs dropped below €26 early on Monday, tumbling after the first auction in a month-long run of half-volume sales cleared at a hefty discount.

Polish coal-fired power generation is expected to fully shut down by 2060 at the latest as the country is forced to reconsider its coal-based assets, the country’s minister for state assets said on Monday.

South Korea is considering reducing the average annual amount of CO2 allowances issued to participants in its ETS by 4% over 2021-25 compared to the 2018-20 period, according to participants at a government organised forum in Seoul.

Three major Australian institutional investors have subscribed A$140 million ($100 mln) to a series of green bonds linked to a new climate transition index launched by French-headquartered bank BNP Paribas.

Shell will buy an Australian carbon offset project developer as part of its global drive to cut GHG emissions through nature-based solutions, the company announced Monday, its first acquisition under the programme.

A specialist consultancy in energy and carbon management is looking for two people to join its Energy Accounting Solution team.

This is a key role within the climate change directorate at MfE leading work to transition Aotearoa New Zealand to a low-emissions economy and a climate-resilient future.

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

The British Columbia government and Coastal First Nations (CFN) signed a new memorandum of understanding on Friday that includes a five-year offset purchase agreement, with the document noting the struggles the Indigenous communities have faced in trying to sell their forest carbon credits to private buyers.

California transportation sector entities posted a Low Carbon Fuel Standard (LCFS) credit deficit of nearly 459,000 tonnes during the first quarter of 2020, with a more stringent GHG reduction target and lower biofuel credit generation unable to overcome a drop in gasoline and diesel usage during the COVID-19 pandemic, state data showed Friday.

Compliance entities and speculators kept their California Carbon Allowance (CCA) positions largely unchanged on the secondary market as prices began to retrace ahead of the August WCI auction, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

EU carbon prices rose on Friday ahead of a month-long reduction in auction supply and as a heatwave started to grip much of Western Europe.