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China's Hebei to allocate 50 bln yuan for climate financing projects
The government of China's Hebei province, known as the country's steelmaking hub, has teamed up with a state-owned bank to provide financial support for the development of climate-related projects with a fund scale of 50 billion yuan ($6.98 bln) for the upcoming three years. Read MoreTop
Australia to hold consultation on Indo-Pacific Carbon Offset Scheme guidelines in 2023
The Australian government plans to launch a consultation on the draft programme guidelines for its Indo-Pacific Carbon Offset Scheme (IPCOS) next year, as some market participants are lamenting its go-slow approach to the policy’s development. Read MoreTop
Carmaker forms blue carbon alliance with South Korean govt
A domestic carmaker has agreed to work with South Korea’s Ministry of Maritime Affairs and Fisheries to develop and promote blue carbon projects in a bid to sequester CO2 and protect biodiversity. Read MoreTop
US forest carbon firm lays off nearly half its workforce amid weak voluntary demand, buyer cynicism
A US-based forest carbon tech firm has laid off nearly half of its workforce as a result of sluggish voluntary credit demand and widespread buyer cynicism surrounding nature-based solutions. Read MoreTop
New carbon credit marketplace aims to woo institutional investors
A startup tech company that secured $28.5 million in its Series A funding round this month has teamed up with a project developer to build a blockchain-based carbon exchange, with plans to launch a new standardised nature-based product for its target audience of institutional investors. Read MoreTop
SPONSORED: Companies turning to futures to meet carbon reduction goals -CME
As the voluntary carbon offset market grows, price risk is becoming a bigger factor. “Having a clear price signal is important for companies, giving them the confidence to move forward.” Read MoreTop
VCM Report: Value of trades falls sharply amid bargain-hunting
Prompt carbon credit prices edged lower over the past week, but the slight moves masked a much heavier bearish step identified by data aggregator AlliedOffsets, which flagged a slide in transactional value that likely reflects bargain hunting at the expense of fresher and more expensive vintages. Read MoreTop
Too much ‘hype’ around bioenergy CCS ahead of EU proposal, say campaigners
The potential of carbon capture and storage bioenergy (BECCS) carbon removal projects is being inflated, campaigners said in a report published on Monday as Brussels prepares a proposal on how carbon removals can integrate into EU climate policy. Read MoreTop
Expected size of Innovation Fund critical to design of EU industry support schemes
The European Commission is honing its support policies for clean hydrogen and other low-carbon solutions – with the first pilot Contract for Difference (CfD) expected next year – but uncertainty over the future volume of the Innovation Fund leaves questions hanging over the best design details. Read MoreTop
China releases spot power market trading draft for consultation
China's energy regulator on Friday issued a draft of trading regulations for the country's spot power market, a move considered crucial to make a transition towards market-based electricity pricing and improve the effectiveness of the national emissions trading scheme (ETS). Read MoreTop
RFS Market: RIN prices rise to 1.5-mth high amid refiner buying, imminent biofuel quotas
US biofuel credit (RIN) values lifted on Monday to levels not seen since June 2021, as traders said steady demand from obligated parties and the imminent release of blending quotas for the US Renewable Fuel Standard (RFS) were driving prices higher. Read MoreTop
Euro Markets: EUAs erase early 2.5% loss after technical bounce to end marginally lower
Carbon prices erased almost all their early losses on Monday after the market failed to break below key technical support and buyers re-entered the market, while energy prices also trimmed their losses after a weak start. Read MoreTop
Saudi power firm signs $7 bln agreement to develop green hydrogen in Thailand
Saudi Arabian energy company ACWA Power has signed a Memorandum of Understanding (MoU) with two state-owned Thai companies to launch a $7 billion deal to develop green hydrogen capacity in the Southeast Asian country for domestic use and exports, it announced over the weekend. Read MoreTop
CNOOC natural gas unit to develop forestry carbon sinks in Hainan
A natural gas subsidiary of state-owned China National Offshore Oil Corp. (CNOOC) has teamed up with a local government in Hainan province to jointly work on forestry carbon sink projects, as it prepares to get into the domestic offset market despite the years-long absence of national voluntary regulations. Read MoreTop
