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China is looking to bring two more sectors into its national emissions trading scheme from next year, according to the chairman of the carbon exchange in Shanghai.
A new non-profit organisation is aiming to reduce carbon emissions by investing in North American cap-and-trade programmes, with allowance revenues funneled back into commercialising CO2 removal technologies.
California fuel consumption dropped year-on-year for the second consecutive month in February as the ongoing COVID-19 pandemic continued to cause a slump in Golden State demand, according to state data released Monday.
The Oregon Clean Fuels Program (OCFP) recorded a modest credit build during the final quarter of 2020 after registering a deficit in Q3, with renewable diesel (RD) and electric vehicles helping lead the rebound, new state data showed.
A Swiss non-profit has developed a method for standardising climate neutral commodity transactions, including setting vintage limits for the seven eligible offset standards.
Voluntary emissions reduction (VER) values increased this week amid reluctant sellers and a wider bullish trend in global carbon, while traders said voluntary carbon market (VCM) buyers continued to procure small volumes of compliance-grade credits generated through the California cap-and-trade programme.
EUAs lifted by more than a euro on Monday in quiet holiday trade, consolidating last week’s volatile rebound as observers expected more sedate activity this week despite their overall bullish sentiment.
Australia Market Roundup: Latest ACCU issuance tops 1.1 mln, as regulator floats new soil carbon method
Australia’s Clean Energy Regulator has minted more than 1.1 million new carbon credits in its latest issuance round that included awarding nearly 500,000 to one energy company, while a much-awaited new draft version of an updated soil carbon method has been released for comments.
Job listings this week
- *Engagement Manager/Senior Engagement Manager, Climate Strategy for Financials, Vivid Economics – London/Amsterdam
- *Economist/Senior Economist, Climate Strategy for Financials, Vivid Economics – London/Amsterdam
- *Senior Technical Specialist, Forestry & Forest Carbon, Fauna & Flora International – Cambridge, UK
- *Climate and Land Use Manager, Lestari Capital – Singapore/Bali
- *Manager/Director, ESG & Carbon Solutions, Grassroots Carbon – San Antonio/Remote (within US)
- *Senior Renewable Energy Portfolio Manager, South Pole – Berlin/London
- *Associate Director, Nature Based Solutions Sourcing, South Pole – Berlin/Medellin/Bogota/Jakarta/London
- *Senior Managing Consultants, Climate Strategies, South Pole – Amsterdam/London/Paris/Berlin
- Deputy Director, Climate Policy Team, HM Treasury – London
- Director, CAN Europe – Brussels
- Climate Change Policy Adviser, Oxfam GB – Oxford
- Sustainability Consultant, Vertis – Madrid
- Director of Industrial Programs, American Carbon Registry – Remote Working
- Principal, Carbon Offset Origination, BHP – Brisbane/Perth
- Carbon Programs Manager, CO2 Australia Limited – ACT
- Low Carbon Trader, BP – Singapore
- Climate Program Associate, The Nature Conservancy – Arlington, VA
- Project Manager, Gordian Knot Strategies – Remote Working (based in US)
- Energy & Climate Change Policy Research, Modelling, and Analysis, Pacific Northwest National Laboratory – Maryland
- REDD+ Analyst, NatureBased Ventures – Remote (Europe/Asia preferred)
Or click here to see all our listings
BITE-SIZED UPDATES FROM AROUND THE WORLD
Arab summit – The United Arab Emirates has asked to host the COP28 UN climate conference in 2023 in its capital Abu Dhabi, Arab News reported from state news agency WAM. The UAE is offering to host the summit with a focus on the economic case for inclusive climate action and to leverage its experience as a regional and global convener. Next year is set to officially be Africa’s turn to host the COP27 summit, according to the UNFCCC’s rotating order, followed by Asia.
Agree to disagree – Poland’s biggest power producer has said “it cannot agree” with a European Court of Justice ruling to immediately suspend lignite mining at Turow, arguing that it would mean the closure of its adjacent 2GW Turow power plant. “[PGE] cannot agree to closing the mine in Turow,” the state-owned utility said in a statement late on Friday. “This would directly mean a complete shutdown of the power plant that supplies electricity to 3.7 mln of Polish households.” It argued that the Turow lignite-fired power plant provides up to 7% of energy demand in Poland and the Turow complex provides thousands of jobs. Europe’s top court last week ruled that lignite mining at the open-pit site near the Polish-Czech border must cease immediately after the Czech government filed a complaint that the activity was threatening its water supply. (Montel)
Warm to tax – The EU is moving closer towards agreeing a tax on aviation as part of a wide-ranging revamp of fossil fuel levies. EU finance ministers meeting in Lisbon on Saturday expressed broad support for upcoming proposals for a Europe-wide tax on kerosene jet fuel used in aircraft, officials told the FT. Brussels has struggled in previous years to extend its fuel taxation rules to areas such as aviation and maritime but the cause has been re-energised by the bloc’s commitment to reduce EU carbon emissions by 55% over the next decade and to net-zero by 2050.
Clubbing together – Germany wants the EU to create a “climate club” with other countries like the US, Japan, and possibly even China, to avoid trade friction linked to green tariffs such as a planned carbon border levy. German Vice Chancellor and Finance Minister Olaf Scholz said on Saturday after talks with Portugal’s Prime Minister Antonio Costa, the current holder of the EU’s rotating presidency, that Europe must engage with other countries to agree joint rules and common standards on how to reduce emissions. (Reuters)
Industry awards – The UK government has announced a new £166.5 mln spending plan designed to accelerate clean technologies across Britain’s energy-intensive industries, predicting the latest phase of its Green Industrial Revolution will help create up to 60,000 jobs. The new investment includes £60 mln for low carbon hydrogen projects, early stage GHG removal technologies, next generation CCUS, and cash to establish a new virtual Industrial Decarbonisation Research and Innovation Centre. A further £16.5 mln is to be assigned through the Industrial Energy Transformation Fund to develop new technologies and processes that help industry cut emissions, while reducing energy bills. (BusinessGreen)
Removal round – A separate £30 mln pot of UK funding is to be spent on trials assessing the potential of carbon removals from trees, peat, rock chips, charcoal, and energy crops such as willow and miscanthus grass. Funded by UK Research and Innovation, the project will test ways to do this effectively and affordably on over 100 hectares of land, making it one of the biggest trials in the world. (Guardian)
Turbine team – National Grid is teaming up with German energy giant RWE to pursue wind power projects off the east coast of the US, according to an announcement on Friday. National Grid Ventures, the utility’s non-regulated arm, and RWE, which has built offshore wind plants around the world, plan to kick off the partnership with a bid to build a wind power project in the New York Bight. The joint venture is just one of a number of big power industry players eyeing bids to develop wind power projects in the waters of the New York Bight, a stretch of ocean between Long Island and the New Jersey coast. (Utility Dive)
Fountains of Keohane – Washington DC-based think-tank C2ES on Monday announced that Nathaniel Keohane will serve as the market-based climate policy organisation’s next president, starting in July. Keohane will join C2ES from green group EDF, where he serves as senior vice president for climate. Keohane served as Special Assistant to the President for Energy and Environment under former President Barack Obama, and previously taught at the Yale School of Management. He will succeed Bob Perciasepe, who has served as C2ES president for the last seven years.
SCIENCE & TECH
Green dream – Global hydrogen demand is forecast to increase from around 80 Mt per annum in 2021 to upwards of 100 Mt/yr by 2030, according to analysts at Fitch Solutions. The green hydrogen sector could produce approximately 10 Mt/yr by 2030 – up from its current 0.1% of hydrogen market share – although this is a preliminary assessment, Fitch said. Green hydrogen is produced using renewable energy to power electrolysis – splitting water molecules into hydrogen and oxygen. The green hydrogen project pipeline stood at 71 GW in February this year versus zero in 2019-20 and has since increased over the second quarter to 121 GW, comprising 136 projects in the planning and development phases, Fitch said. The average known project price is $4.5 bln, Fitch said. The global growth is being driven by Western Europe and Asia Pacific, with these regions accounting for 82% of such green hydrogen projects, with Australia leading the project pipeline. (Upstream Online)
The Holy See-EV – The next popemobile will be an EV made by American startup Fisker, the first all-electric vehicle for the supreme pontiff, the company said Friday. The custom-made Ocean SUV will be designed to protect the pope while also allowing him to be visible to crowds and will feature sustainably-sourced elements, including carpets made from plastic bottles recovered from the ocean. Co-founders, and spouses, Henrik Fisker and Geeta Gupta-Fisker met last Thursday with Pope Francis, who has made addressing climate change and protecting the environment a key part of his papacy. (Climate Nexus)
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