Carbon Pulse

EU carbon prices have likely seen the bulk of the appreciation expected from upcoming supply-slashing market reforms, analysts forecast, with most predicting that EUAs would now sit tight and trade within sight of existing levels through 2023.

Speculative firms added to their California Carbon Allowance (CCA) positions over the week as prices hit a fresh record high, but the week-on-week changes revealed more modest growth compared to last month, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

Germany has launched a tender to procure around 175,000 Kyoto Protocol offsets to neutralise the carbon emissions generated from the business trips of federal government officials in 2020.

EUAs rose back above €54 on Friday, clawing back some of the week's heavy losses after a strong auction and as energy and wider markets also rebounded following a shaky week.

Austria will introduce a carbon price for sectors not covered by the EU carbon market from 2022, the country's finance minister said on Thursday, with a proposal expected to be released this autumn.

A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including developments in Oregon and the PJM wholesale grid.

EU plans for an upstream cap on emissions from buildings and transport are both welcome and worrying, says Sanjeev Kumar of the European Geothermal Energy Council.

Developing offsets from so-called blue carbon projects will play an important role in China’s efforts to meet its climate targets, and the country is also pushing for crediting sinks created by the farming of bivalves and other ocean life forms.

Limiting NZU positions or purchase volumes and requiring all transactions to go through an exchange are among the options considered by the New Zealand government as it plans to strengthen the governing regulations of its emissions trading scheme.

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

The “inefficient”, illiquid, and relatively small UK carbon market has yet to attract much investment in the six weeks since trading launched, experts said this week.

California Carbon Allowance (CCA) prices stormed higher this week with rising demand from financial firms in the WCI market, and RGGI Allowances (RGAs) also ticked up to a 6-month high as compliance entities and speculators sought out new positions.

Climate Investments Analyst to identify and form opinions on investment opportunities and to work within the Climate Investment Team on direct investments of all kind.

Responsible for overseeing, further developing, embedding and reporting on Tullow’s sustainability strategy and key initiatives across the group including the delivery of the Net Zero Plan.

Senior Policy Officer to work on analysis, development and implementation of climate change policy, including strategies and action plans.

The voluntary carbon market should have an important, if marginal, role in corporate climate action, UN climate finance envoy Mark Carney said Thursday while setting out credible offsetting buying strategies.

The European Commission will launch its second call for large-scale projects under the EU ETS-funded Innovation Fund in October, the EU’s executive announced Thursday.

Global carbon emissions from energy use dropped by the most in a single year since World War 2, as the Covid pandemic hit economic activity and fossil energy demand dropped, oil major BP said in its annual survey of the global energy sector.

EU carbon prices dropped by as much as 3.3% on Thursday to a three-week low, while UK Allowance prices slumped to a new nadir on more profit-taking and supply-related concerns.

The private sector Taskforce on Scaling Voluntary Carbon Markets (TSVCM) largely kept intact its plan to ramp up offset trade in final recommendations released Thursday, although the proposed governance body will now see the inclusion of active market participants in making key recommendations and decisions on core carbon principles (CCPs).