Carbon Pulse

A major Dutch-headquartered firm has become the latest trading house to expand its emissions business to the Asia-Pacific region, with at least two carbon traders joining from Shell.

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

California Low Carbon Fuel Standard (LCFS) credit values lifted off recent lows this week, though market participants reported large offers were backing up in light of the uptick.

A wildfire in Washington state has lit up portions of a forestry offset project that has generated the second most credits to date under California’s WCI-linked cap-and-trade programme, according to data and sources.

Swedish utility Vattenfall’s EU ETS-covered power output fell nearly 2% year-on-year in H1, despite a near 3% increase in the company's overall generation, the company said in its quarterly results on Tuesday.

Australia’s Woodside and a quartet of Japanese companies are exploring the possibility of using Australian natural gas to produce ammonia for the Japanese market, with associated CO2 emissions to be offset from CCS or bio-sequestration projects.

EUA prices edged up on Wednesday, giving back earlier gains amid moderately firmer energy and equities and following an improved auction result.

Commodity trading house Glencore has set up an emissions desk in Singapore, with a former BP carbon trader heading up operations.

Oil and gas firm Sinopec on Wednesday bought 100,000 CO2 permits from industrial conglomerate China Resources Holdings in the first off-screen block trade since China's national emissions trading market launched last week.

Japan will double the share of renewables in its energy mix by 2030 and make large cuts in LNG and coal consumption, according to a proposal released by the nation’s industry ministry Wednesday.

Presenting CP Daily, Carbon Pulse’s free newsletter. It’s a daily summary of our news plus bite-sized updates from around the world. Subscribe here TOP STORY Green hydrogen could get free allocation in EU carbon market reform -official The European Commission is considering broadening the scope of product benchmarks under the EU’s carbon market rules for industry […]

Offset registry Climate Action Reserve (CAR) on Monday announced it is developing an ex-ante crediting methodology for fuel treatments, including prescribed burns, in order to reduce the severity of wildfires in the western US.

Amid a global voluntary carbon market it says is hamstrung by profiteering, criminal activity, and a lack of regulation, a team of market veterans has launched a new carbon offset firm with the goal of providing for its customers a 'genuine, fair, and transparent' path to net zero.

The European Commission is considering broadening the scope of product benchmarks under the EU’s carbon market rules for industry to include clean production methods - a measure that could grant free allowances for green hydrogen or clean steel production, a senior EU official said.

The International Energy Agency (IEA) has warned that current government spending on post-COVID recovery measures isn’t targeting sufficiently clean energy investment, and that carbon emissions may climb to record levels by 2023 as a result.

China’s environment ministry on Tuesday reprimanded the Shanxi provincial government for failing to control coal consumption and not dealing with regulation breaches by corporations.

European carbon prices fell to the lower end of their recent range on Tuesday following a very weak auction result, and as energy markets and wider macro sentiment remained bearish.

Strong interest from speculative and voluntary buyers on Tuesday pushed the Australian offset price to a record high for the fourth consecutive trading session, while delivered credits to the government’s Emissions Reduction Fund (ERF) is now within touching distance of the 70-million mark.

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