Carbon Pulse

Terraformation, the restoration company co-founded last year by former Reddit CEO Yishan Wong, made headlines this month for offering ‘reforestation in a box’, but the real news may be that more investors are willing to put money into sustainable land practices.

Japan Petroleum Exploration Co. (Japex) and major power company J-Power have signed separate agreements with Indonesia’s state-owned Pertamina to earn carbon credits under the Joint Crediting Mechanism from CCS projects.

Australia’s Clean Energy Regulator has issued almost 665,000 new carbon credits, while the optimism that Australia will set a 2050 net zero target this year – which some analysts say has been instrumental in pushing ACCU prices to record high levels – might be in question after the junior Coalition partner this week ditched its leader for being too pliant on climate.

Australia is considering allowing the use of offsets to carbon neutralise hydrogen made from fossil fuels, it said in a discussion paper on a domestic hydrogen Guarantee of Origin (GO) scheme.

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

Prices for CORSIA-eligible voluntary emissions reductions (VERs) ticked up once again this week, while US-based exchange CME Group announced it will launch a nature-based carbon offset futures contract this summer.

Speculators’ California Carbon Allowance (CCA) positions inched closer to 100 million over the prior week, as allowance prices under the linked WCI programme peaked at a fresh all-time high amid new financial interest, according to US Commodity Futures Trading Commission (CFTC) data published Monday.

JP Morgan Asset Management announced the purchase of a forest management and timberland investing company on Monday, with the New York-headquartered financial services firm seeking to become an “active participant” in growing carbon credit markets.

California fuel usage continued to edge back towards pre-pandemic levels in April, as monthly gasoline demand rose to its highest in 14 months, according to US Energy Information Administration (EIA) data released Monday.

The organisation is seeking a highly talented and motivated Business Development Advisor for Carbon Markets, with strong stakeholder engagement, relationship management, research of resourcing and partnerships opportunities for carbon programs and proposal writing skills to support the Head of Business Development and the Grants and Partnerships Team.

EUAs gained for a second straight session on Monday, climbing towards €53 as traders braced for a volatile spell ahead of options expiry.

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A respected and admired economist covering California’s carbon market has passed away after falling ill with the coronavirus.

As a member of our Natural Climate Solutions (NCS) team, you will play a key role in sustainable NCS projects benefiting the global climate and their local environment.

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Swedish payments firm Klarna has set out climate plans to invest in carbon-cutting projects without offsetting, a move some say assuages integrity concerns while supporting impactful activities at scale.

The Carbon Market Institute has postponed its annual Australasian Emissions Reduction Summit, originally scheduled to be held Thursday and Friday this week, due to the escalating COVID situation in Sydney and increased travel restrictions, it said Monday.