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Misplaced faith in long cycle bullishness for oil market risks stranded assets, value destruction, report warns

Published 08:14 on January 27, 2022  /  Last updated at 08:18 on January 27, 2022  /  Climate Talks, International  /  No Comments

Oil and gas companies should resist the temptation to respond to rebounding oil demand and prices by sanctioning high-cost, long-cycle projects based on a bet that the current bullish investment environment will be prolonged, a report released on Thursday has argued. Read More
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Singapore investment arm buys into green hydrogen outfit with Australian, Middle East projects

Published 05:34 on January 27, 2022  /  Last updated at 05:36 on January 27, 2022  /  Asia Pacific, Australia, EMEA, International, Middle East, Other APAC, South Korea  /  No Comments

Singapore’s sovereign wealth fund, GIC, has made what it calls a “strategic equity investment” into Hong Kong-based Intercontinental Energy (ICE), a company with a portfolio of large-scale renewable hydrogen projects on its drawing board, the key investment arm of the Singaporean government announced. Read More
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Offset marketplace Patch to integrate BeZero Carbon ratings service

Published 00:01 on January 27, 2022  /  Last updated at 00:18 on January 27, 2022  /  Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, REDD, Voluntary Market  /  No Comments

Carbon removals marketplace Patch has signed a deal to integrate offset ratings from provider BeZero Carbon onto its platform, seeking to offer more insights on the quality of available units. Read More
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Over-crediting leads to biggest international reversal of California compliance offsets to date

Published 23:23 on January 26, 2022  /  Last updated at 23:30 on January 26, 2022  /  Americas, Canada, Mexico, US, Voluntary Market  /  No Comments

California regulator ARB this week approved the single largest intentional reversal of compliance offset issuances in the history of the cap-and-trade regulation, as changing programme guidance for quantifying carbon stocks led an Arizona forestry project to overissue credits. Read More
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Business groups look to new agencies to point way forward for voluntary market

Published 18:10 on January 26, 2022  /  Last updated at 18:10 on January 26, 2022  /  International, Voluntary Market  /  No Comments

Voluntary carbon market participants are counting on newly-formed bodies to give direction following a UN Article 6 emissions trading deal. Read More
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Euro Markets: EUAs climb to new 2022 high as UKAs set record after strong auction

Published 17:34 on January 26, 2022  /  Last updated at 00:54 on January 27, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

EUAs on Wednesday reached their highest level since setting a record high in early December, as traders continued to amass positions in a lightly-traded market and the latest UK Allowance auction cleared at its highest level to date. Read More
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UPDATE - France promises to address EU exporter concerns in upcoming carbon levy talks

Published 13:39 on January 26, 2022  /  Last updated at 18:58 on January 26, 2022  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

EU presidency holder France will pay close attention to the effects the EU's proposed carbon border adjustment mechanism (CBAM) could have on the bloc's businesses, a senior official told an event on Wednesday, as lawmakers grappled with how to manage the phaseout of free allowances. Read More
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POLL: Analysts up EU carbon forecasts again, warning volatility is here to stay

Published 06:52 on January 26, 2022  /  Last updated at 06:52 on January 26, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

Analysts have raised their EU carbon price forecasts across the board following late last year's rally, with some warning that competing narratives could drive the market sharply in either direction in the months to come, all while maintaining a high level of volatility. Read More
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China power industry eyes peaking of its CO2 emissions in 2028

Published 11:21 on January 26, 2022  /  Last updated at 00:58 on January 27, 2022  /  China, China's National ETS  /  No Comments

Carbon emissions from China’s power industry could peak in 2028 with increased investments in nuclear and accelerated growth in renewables, two years sooner than previously planned for, according to the country's leading power industry association. Read More
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EUA prices set to consolidate in 2022 before resuming upward trend -analysts

Published 11:00 on January 26, 2022  /  Last updated at 16:39 on January 26, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

European carbon prices will consolidate in 2022 before resuming their upward trajectory in 2023, and will climb even higher than previously predicted in the second half of the decade, according to a bank analyst. Read More
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FEATURE: Japan, South Korea chase hydrogen supply, but forced to rely on dirtier options in the near term

Published 06:59 on January 26, 2022  /  Last updated at 23:28 on January 26, 2022  /  Asia Pacific, Australia, EMEA, International, Japan, Middle East, Other APAC, South Korea  /  No Comments

A liquefied hydrogen carrier will shortly leave Australia to deliver a cargo, the world’s first, to Japan in what has been touted as a new phase for hydrogen’s role in the energy transition, a fuel that key economies in Northeast Asia have also pinned their hopes on to help decarbonise their economies. Read More
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Australia Market Roundup: Regulator issues year’s first ACCU batch as spot price remains at record high

Published 10:21 on January 26, 2022  /  Last updated at 10:21 on January 26, 2022  /  Asia Pacific, Australia  /  No Comments

The Clean Energy Regulator has made its first Australian Carbon Credit Unit (ACCU) issuance of the year, doling out 220,000 offsets, while the spot price continues to set new records on wafer thin volume. Read More
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Veteran EU carbon analyst on the move again

Published 02:41 on January 27, 2022  /  Last updated at 02:41 on January 27, 2022  /  Bavardage, Conversations, EMEA, EU ETS  /  No Comments

A veteran EU energy and carbon expert is joining an Oslo-based renewable energy market intelligence firm to help expand its offering. Read More
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EU ETS reform plans risk failure to reach targeted emissions cuts, consultancy warns

Published 19:31 on January 25, 2022  /  Last updated at 19:31 on January 25, 2022  /  EMEA, EU ETS  /  No Comments

The EU risks missing its headline 2030 emissions goals because plans to reform the carbon market may do too little to shift the market’s surplus allowances, a consultancy warned in a study published on Tuesday. Read More
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Brazilian energy ministry recommends multisectoral emissions trading scheme

Published 15:44 on January 25, 2022  /  Last updated at 15:44 on January 25, 2022  /  Americas, South & Central, Voluntary Market  /  No Comments

Brazil should adopt a cap-and-trade programme that goes beyond coverage of the power sector and gradually phases out free allowance allocation, the Ministry of Mines and Energy (MME) said in a new consultation. Read More