Carbon Pulse

EUAs slid below €34 early on Wednesday for the first time in four sessions, continuing the retreat from Tuesday's record high amid a major pullback in gas prices and signs of a technical reversal in carbon, as data showed the influx of participants into the market continued.

A third of the allowances on offer at 2021’s first South Korean carbon auction were left unsold on Wednesday as the market continues to be gripped by bearish sentiment.

Australian Carbon Credit Unit (ACCU) prices in the secondary market are likely to tick up this year as pressure continues to mount on the government to tighten climate policy settings, analysts said Wednesday.

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

Two environmental groups on Tuesday asked a North Carolina commission to move forward with a rulemaking to enact a RGGI-aligned cap-and-trade regulation, aiming to extend the regional US power sector programme further into the South.

An investment firm has acquired a majority stake in a Houston-based environmental trading firm, the two parties announced Tuesday.

Washington state legislators put forth a WCI-modelled carbon market bill this week as requested by Governor Jay Inslee (D), with the proposal aiming to enforce compliance obligations on power importers and natural gas suppliers several years after other sectors.

EUAs jumped to a new all-time high above €35 on Tuesday as gas and other European energy prices spiked on a looming blast of colder weather.

California’s lone nuclear power plant could be offline for several months, potentially resulting in the utilisation of more carbon-emitting sources to cover electricity demand in the first half of the year, several market participants said.

US GHG output is expected to have plummeted by double digits last year due to lower fuel consumption brought on by the coronavirus pandemic and a continued decline in coal-fired power, but analysts foresee these cuts will not sustain absent a structural change in the economy.

A Singapore-based energy trading firm has hired a former offset originator with Shell to help build a carbon trading business.

Developers under contract with Australia’s Emissions Reduction Fund have delivered more than 1.5 million carbon credits to the government since the start of December, while reports say Chevron is facing fresh problems with storing carbon at its Gorgon LNG platform.

South Korean carbon allowances have dropped by 38% since mid-December, as bearish sentiment has returned after a short-term surge in demand from energy companies ended.

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

Based at our Cannon Place office, the CBI Infrastructure and Energy team works with businesses and government to help change policy to enable the delivery of critical infrastructure and the transition to a low-carbon economy– including energy, transport and housing – which underpins the UK economy and supports a more prosperous and sustainable society.

As part of our continued efforts to lead the transition to a low carbon, sustainable global economy, an exciting opportunity has arisen for an experienced subject matter expert to help build and lead a new Climate Intelligence Unit for Macquarie Group, which will provide central resource to support businesses, functions and colleagues with actionable intelligence on climate science, markets, policy and competitors.

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*PREMIUM LISTING (viewable by non-subscribers) – The Program Officer is a technical role within the American Carbon Registry (ACR), contributing to all aspects of ACR services, including, but not limited to ensuring the highest level of quality for all ACR-registered projects and related offset credits issued by ACR.

Governments and development banks pledged more than $14 billion on Monday over the next four years to restore 100 million hectares of land in northern Africa, an effort that would store an estimated 250 million tonnes of CO2.

The Northeast RGGI cap-and-trade scheme set aside slightly more allowances for free allocations in 2021, with an estimated 91 million carbon permits earmarked for quarterly auctions this year, according to programme data.