Carbon Pulse

Emerging CO2 removal technologies, such as direct air capture, will require more early finance to bring down the costs of resulting carbon credits, though some potential buyers are not convinced they should immediately reallocate funds earmarked for in-house corporate reductions, a panel heard Wednesday.

Canadian oil major Suncor on Wednesday released its plan to cut emissions over this decade en route to a 2050 net zero goal, with half of the CO2 abatement slated to involve new Alberta projects that will generate carbon offsets.

California regulator ARB’s compliance offset issuance sunk to more than 378,000 new credits this week, continuing a trend of sluggish approvals by the state agency.

EUAs rose to a one-week high near €55 on Wednesday but reversed course in sympathy with gas, before taking a post-settlement tumble to close well below €53, as trading data showed waning interest by investment funds.

A Dutch court on Wednesday ordered oil major Shell to cut its net carbon emissions by 45% compared to 2019 levels by 2030, in what observers are calling a landmark ruling for the global oil industry.

A climate tech company announced the creation of the largest US-based forest carbon project by acreage on Wednesday, with large corporates and voluntary emissions reduction (VER) procurement firms among the first buyers.

Commodity traders Hartree Partners and sustainability firm Systemiq on Wednesday launched a joint venture designed to help clients buy carbon credits from high-quality nature-based offset projects.

Romania will exit coal in 2032, according to leaked government documents, as higher carbon prices squeeze coal power profitability and prompt other countries in Central and Eastern Europe to consider earlier phaseouts.

Japan will invest around $10 billion in efforts to reduce greenhouse gas emissions in South East Asia and help governments in the region design decarbonisation strategies, media reported Wednesday, citing government officials.

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

Russia is rolling out new domestic voluntary carbon offset rules and is considering extending its embryonic emissions trading scheme nationally in order to have its climate efforts recognised internationally, a high-level official said Tuesday, which should thereby spare the country from "unfriendly" protectionist actions such as EU border measures.

An industry group claimed Virginia’s revised RGGI regulation failed to adhere to enacting legislation in shifting to state-run auctions, while the finalised cap-and-trade rule should be stuck down as an illegal tax, according to a brief filed this week.

Voluntary emissions reduction (VER) prices are currently significantly undervalued, and must rise by several orders of magnitude in order to guarantee financial returns and ramp up climate ambition, the CEO of a private jet charter broker said Tuesday.

Companies regulated by the EU ETS used almost 1.6 billion Kyoto Protocol offsets against their surrender obligations over the past 13 years, data published by the European Commission late Tuesday showed, as the window finally closed on this cheaper compliance option.

Government revenue from global carbon pricing instruments swelled by almost a fifth last year as programmes largely withstood the impact of the coronavirus crisis, according to an annual report released Thursday by the World Bank.

North Carolina’s Air Quality Committee (AQC) will consider a petition next month to join the RGGI cap-and-trade programme via regulatory channels, with green groups arguing the proposed rulemaking would help the state reach long-term climate goals.

The 27-nation EU’s heads of state and government on Tuesday failed to reach an agreement over the fate of national emissions reduction targets for sectors outside the bloc’s carbon market in a debate meant to provide guidance to the European Commission’s upcoming climate package.

EU carbon prices gained as much as a euro early Tuesday but fell back towards €52 following one of the weakest auctions of the year, while UK Allowance prices tested their recently record highs.

Responsible for delivering deal origination and execution, including agreements and complex structured transactions, providing deal assurance, driving new and existing business growth, leveraging BP's customer base, cross bench offerings and structured products, and building strategic relationships in support of these activities to maximise value.

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