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CP Daily: Friday September 30, 2022

Published 23:30 on October 1, 2022  /  Last updated at 00:44 on October 2, 2022  /  Newsletter  /  No Comments

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

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Asia and the Pacific Program Manager, Tradewater – Bangkok

Published 23:17 on October 1, 2022  /  Last updated at 23:17 on October 1, 2022  /  Job Postings  /  No Comments

To support its growth around the world, Tradewater is seeking a Program Manager to lead our greenhouse gas collection and destruction projects in Asia and the Pacific region. These projects typically involve finding and procuring old refrigerants at the end of their useful life, and building the systems and partnerships needed to have them safely destroyed according to published carbon offset protocols.

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Chevron-backed “alternative” European energy and carbon trading platform closes Series B financing round

Published 07:17 on October 1, 2022  /  Last updated at 18:25 on October 1, 2022  /  Bavardage, EMEA, EU ETS, UK ETS  /  No Comments

A German-headquartered energy and carbon trading platform, which has branded itself a “digital alternative” to traditional exchanges and brokers, has closed a Series B financing round with the support of oil major Chevron.

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British Gas latest firm to be found offsetting with old, dodgy carbon credits

Published 02:19 on October 1, 2022  /  Last updated at 02:50 on October 1, 2022  /  Americas, China, China's Offset Market, EMEA, EU ETS, International, Kyoto Mechanisms, Nature-based, Other APAC, South & Central, Voluntary Market  /  No Comments

British Gas has offset its energy production using hundreds of thousands of old carbon credits from a Chinese industrial gas project that have been banned in Europe due to their questionable environmental integrity.

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Emitters and speculators pare back CCA holdings while financials’ RGGI net length approaches 1 mln

Published 23:27 on September 30, 2022  /  Last updated at 23:27 on September 30, 2022  /  Americas, Canada, US  /  No Comments

Emitters cut down their California Carbon Allowance (CCA) net length to end five straight weeks of growth, while financial players followed suit in both the WCI and RGGI markets, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

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California carbon market reaches record number of participants in Q3 amid heightened speculative interest

Published 22:29 on September 30, 2022  /  Last updated at 22:29 on September 30, 2022  /  Americas, Canada, US  /  No Comments

California’s cap-and-trade programme grew to a record number of accounts in the third quarter amid interest from speculative and compliance entities, according to data published Friday.

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PREVIEW: In Brazil elections, fate of carbon markets hangs in the balance

Published 21:22 on September 30, 2022  /  Last updated at 23:35 on September 30, 2022  /  Americas, CBAM, International, Nature-based, South Korea, Voluntary Market  /  No Comments

In Brazil’s presidential election that kicks off this Sunday, pitting far-right incumbent Jair Bolsonaro against left-wing former president and current front runner Luiz Inacio Lula da Silva, the country’s path forward on climate policy – including the fate of carbon markets – hangs in the balance.

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Finnish report flags gaps in EU law on domestic offsetting

Published 20:38 on September 30, 2022  /  Last updated at 20:38 on September 30, 2022  /  EMEA, EU ETS, Nature-based, Voluntary Market  /  No Comments

EU nations lack the legal means to apply corresponding adjustments for carbon projects on their territories, a report commissioned by the Finnish government pointed out on Friday, complicating matters for companies seeking to buy carbon credits across the bloc.

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Voluntary carbon investor in 2.5-mln credit deal with rice farming project

Published 20:27 on September 30, 2022  /  Last updated at 23:33 on September 30, 2022  /  Americas, Canada, International, Nature-based, Voluntary Market  /  No Comments

A Canada-based voluntary carbon investment firm has agreed to buy around 2.5 mln VCUs from a Indian rise farming project.

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REDD credits seen offered $5 cheaper than CCB-certified equivalents

Published 18:29 on September 30, 2022  /  Last updated at 18:29 on September 30, 2022  /  Africa, Americas, Asia Pacific, Australia, Canada, China, EMEA, International, Japan, Mexico, Middle East, Nature-based, New Zealand, South Korea, Switzerland, US, Voluntary Market  /  No Comments

Major clips of VCS-certified REDD credits lacking CCB co-benefit certification were being offered at a $5 discount to VCS-CCB units on Friday, highlighting a hefty premium for nature units that can meet the specification requirements for delivery into futures contracts on the CME exchange.

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