Carbon Pulse

Commodity price reporting agency S&P Global Platts announced the launch of four new voluntary carbon offset assessments on Tuesday, differentiating some credits between GHG reductions and removals while adding a tech-based category.

A Houston-based environmental trader has joined a US-headquartered bank to lead their environmental desk, as more financial firms look to expand into the compliance and voluntary carbon markets, Carbon Pulse has learned.

Czech utility CEZ saw its coal power output further decline in the first half of 2021, as a result of divestment of assets and a “deterioration of medium-term market conditions” following the increase in the EU’s climate ambition and a potential phaseout of Czechia’s coal-fired generation.

The head of European carbon research at BloombergNEF is leaving to join the trading desk of a large energy company, Carbon Pulse has learned.

*PREMIUM LISTING – A Senior Program Officer will coordinate and help implement our climate projects that help to shape climate policy in Asia.

Climate Investment Partners LLC is seeking a Project Associate and/or Project Manager of Natural Climate Solutions to lead feasibility and project development of nature-based carbon offset projects for the voluntary carbon market.

Analysts at a major investment bank have raised their EUA price forecasts for the period from 2022 through to 2030, citing a “rapidly tightening system leading to structural shortage" of allowances later in the decade.

The last three months have seen European power generation economics upended, as margins for gas-fired generation have been driven so low that not even a strong carbon price can restore them.

EUAs posted further gains in quiet trade on Tuesday morning, reaching a new five-week peak as energy markets also forged higher.

New Zealand carbon allowances rose to yet another record high on Tuesday, taking the spot contract to just a hair’s breadth away from the NZ$50 level that would release volume from the cost containment reserve at auction.

The Beijing environment exchange has launched tenders for the construction of a registry and trading system for the national offset market, bringing the restart of the Chinese Certified Emissions Reduction (CCER) programme a step closer, though the exact launch date remains unclear.

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

California approvals of new Compliance Instrument Tracking Service System (CITSS) accounts are taking longer than usual as the state sees an influx of new applications, including from more complicated financial participants hoping to enter the WCI carbon market, traders told Carbon Pulse.

Standardised voluntary emissions reduction (VER) prices surged to new records once again over the past week, as futures volumes spiked amid a groundswell in voluntary carbon market (VCM) activity from new financial players and fossil fuel companies.

Privately-owned utility EPH will shut down all of its coal assets by 2030, with the exception of its plants located in Germany, the Czechia-based company announced on Monday.

EUAs recovered early losses on Monday morning, despite a general weakness in the energy complex as Russian state producer Gazprom slowly resumed flows from a gas facility damaged by a fire last week.

The secondary market spot price for Australian carbon credits is holding at record levels above A$22 ($16.16) amid persistent, yet modest demand, while more than 70 million units have now been delivered to the government’s Emissions Reduction Fund.

The world faces crossing Paris Agreement warming limits within 20 years even with drastic emissions cuts this decade, the UN-backed IPCC scientific panel said in a landmark report published on Monday.

Organization: Climate Policy Initiative Position: Climate Finance Analyst Duty Station: London, Washington, or San Francisco Deadline for Application: 20 August 2021

Organization: Climate Policy Initiative Position: Program Assistant, The Global Innovation Lab for Climate Finance Duty Station: Washington, D.C. or San Francisco, US Deadline for Application: 20 August 2021