Carbon Pulse

Climate finance flows in 2020 fell short of the $100 billion per year promised to developing countries and central to achieving the Paris Agreement, but a new delivery plan released Monday shows this could happen by 2023.

Fossil fuel companies are brazenly greenwashing by marketing shipments bundled with offsets as "carbon neutral", environmental campaigners concluded on Monday in a report scrutinising the burgeoning trade. 

EUA prices retreated from an early rally on Monday morning in relatively thin trading, as natural gas prices rose on reduced pipeline flows despite predictions of milder weather.

Opec powerhouse Saudi Arabia will target net zero emissions by 2060, the kingdom’s crown prince, Mohammed bin Salman, announced at a conference in Riyadh over the weekend.

China on Sunday published its long-awaited “1+N” climate policy blueprint without offering any changes from previous documents, though analysts expect more detailed action plans to emerge ahead of COP26.

Carbon project developer Climate Friendly is looking for a lawyer to provide advice as part of in-house legal team on fast moving legal issues.

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

The Ontario Ministry of Environment, Conservation, and Parks (MECP) on Friday adopted an amendment package for the province’s Emissions Performance Standards (EPS) that will align the province’s electricity sector benchmark with the federal ‘backstop’, but did not indicate whether it will move to incorporate carbon offsets in the nascent scheme.

The UN International Marine Organisation (IMO) faces continued drag in developing policies to reduce GHGs, with some countries claiming that the cost is too high even as the container shipping industry sees record-breaking profits this year.

The Sustainability and Climate Change (S&CC) advisory team, part of Risk & Financial Advisory, is growing and requires outstanding, innovative, and engaging professionals to join our team. The Sustainability and Climate Change team is privileged to be working on one of the most pressing and topical business and societal issue of our time. Through our services, we help our clients understand, engage with and act on their sustainability-related risks and opportunities.

The Commodity and Carbon Trading Solutions team is looking for a Manager to create commercial demand and deliver commodities trading expertise for operational, risk and regulatory propositions delivered in a wide range of project scenarios.

Financial players unwound their California Carbon Allowance (CCA) positions slightly over the week, while compliance entities kept their holdings nearly unchanged, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

A group of Canadian fossil fuel companies on Thursday announced their three-step approach to reaching net zero operational emissions by 2050, with the first phase to focus heavily on a CO2 transportation and storage network in the oil sands heartland of Alberta.

North American carbon allowance prices set new all-time highs on Friday morning, with California Carbon Allowances (CCAs) surpassing $30 and RGGI Allowances (RGAs) bubbling closer to the programme’s Cost Containment Reserve trigger level before both products retraced.

Only around one in eight CDM projects could deliver abatement that would not otherwise happen if those carbon-cutting activities were allowed to transition into the Paris Agreement regime, according to researchers.

DroneSpeed is seeking a Carbon Specialist to help make reforestation scalable to mitigate the worst effects of climate change. DroneSeed is transforming a 300-million-acre global landscape deforested since the 1990s where it would take 300 years to replant this deficit with current tools. 

In this role, you will be an important member of the team working to ensure the success of this program.  We are looking for someone who will be an expert on carbon offsets and how offsets can be integrated into the cap and invest program.  

Japan should push for a global solution to be found for rules guiding the international carbon market and expand its Joint Crediting Mechanism (JCM) to drive bigger involvement from domestic companies in foreign offset projects, the nation’s biggest business group has said.

EUAs rose sharply to a one-week high on Friday morning as traders reacted to the strongest daily auction in more than two months and EU leaders appeared to shy away from intervention in the EU ETS. Energy prices were mixed.

Japan’s government has confirmed that it will boost the share of renewables and accelerate the return of nuclear power, with cabinet’s approval on Friday of a draft energy plan that will guide policy efforts to reach the recently upgraded emissions reduction target for 2030.