Carbon Pulse

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

Governor Gavin Newsom (D) is expected to survive a recall election that could have critical impacts on the state’s climate policy, as public polling shows him with a significant advantage going into Tuesday’s vote.

The UK pushed Monday for global shipping emissions to reach zero by 2050, a move that would significantly increase stringency from the current 50% goal under the UN's International Maritime Organisation (IMO), which foresees revising its emissions strategy in 2023.

California Low Carbon Fuel Standard (LCFS) values continued their bearish September stretch on Monday, falling to levels not seen since the initial outbreak of the COVID-19 pandemic.

Verra is looking for a Manager, Technologies for NCS, to lead our work in assessing potential opportunities and designing pathways and systems to take advantage of remote sensing (RS), artificial intelligence (AI)/machine learning (ML), distributed ledgers (DL) and other established and emerging technologies, in Verra standards, tools, programs, and registry, especially as they relate to natural climate solutions (NCS).

Standardised CORSIA-eligible offset contracts on the voluntary carbon market (VCM) came down from record highs in recent days, while nature-based voluntary emissions reduction (VER) values rose to retest the long-standing premium that evaporated this month.

Agricultural commodities merchant Louis Dreyfus Company (LDC) is launching a ‘carbon solutions’ platform to facilitate its decarbonisation efforts, the Rotterdam-headquartered firm announced Monday.

The Nature Conservancy seeks a proven and motivated forester to lead the forest operations of its 253,000 acre Cumberland Forest project in Tennessee, Kentucky and Virginia.

Unique opportunity as Head of Climate and Sustainability Solutions Deliver on NAB’s Group Strategy objective in driving commercial responses to society’s biggest challenges Lead this passionate team of Sustainability SME’s to success

ClientEarth is looking for a Banking Lawyer with a strong banking or financial services law, policy, regulatory or litigation background to join its team.

Verra is seeking a Senior Technical Advisor or Manager, Supply Chain Innovations, to lead our work in establishing new standards, tools, and programs to support and incentivize corporate GHG abatement activities.

Utility Dominion Energy will need to provide additional comments later this month to support its RGGI procurement plan after an environmental group successfully petitioned the Virginia State Corporation Commission (SCC) to suspend a ruling on the case.  

The 11 RGGI states announced a preliminary programme review schedule on Monday for the Northeast US power sector carbon market, with the first workshop to occur next month and the process expected to stretch into 2022.

EUA prices are not high enough to drive near term fuel-switching at power plants in Europe but are instead staying at levels that will support gas-fired power margins next year, according to bank research.

Carbon prices made a sharp recovery from Friday's sell-off along with other European energy markets, though EUA gains were capped by sustained selling above €62.

A London-based fund that focuses on compliance-grade carbon recorded a solid return in August, as it entered a fifth regional emissions market.

A new fund launched on Monday that aims to invest in forest planting on marginal land in New Zealand to profit from the nation’s rapidly rising carbon price.

China will develop a futures market for carbon in a bid to establish more funding channels for emissions cuts, said an official statement from the nation’s Cabinet, which also indicated a potential expansion in the types of projects that could be eligible to generate offsets for the national emissions trading scheme.

Another carbon trader has left BP to join a recently established emissions desk in Singapore, operated by a major commodity trading house.

Indonesia has terminated its decade-long deforestation partnership with Norway after a lengthy delay in the first results-based payment, which the European country had pledged to make last year.