Top Brazilian oil producer Petrobras enters voluntary carbon market with REDD+ offsets purchase
Brazilian state-owned oil company Petrobras on Tuesday announced its first purchase of carbon credits to fund the preservation of the Amazon rainforest.
Read MoreEl Nino prevented Amazon from acting as carbon sink, study finds
A study from the University of Leeds found that forests in South America, including the Amazon rainforest, stopped storing carbon and began releasing it during the 2015-16 El Nino event, the findings published in scientific magazine Nature showed on Monday.
Read MoreParaguay senator announces replacement carbon credit regulation bill
A Paraguayan senator on Friday introduced a carbon credit bill that he says has greater support than previous legislation that would regulate the voluntary market, and will ultimately replace an older proposal.
Read MoreBrazil ETS bill vote delayed in Senate after governors issue demands
A vote on legislation which includes Brazilian President Luiz Inacio da Silva’s draft emissions trading system proposal that was scheduled to take place in the Senate Environmental Committee on Wednesday has been postponed.
Read MoreUS offering $350 mln to reduce methane output from oil and gas
US states can now draw on $350 million in grants from the Inflation Reduction Act (IRA) to monitor and reduce methane emissions from their oil and gas operations.
Read MoreAmazonian governors demand Brazil ETS proposal include subnational governance, jurisdictional REDD+ harmonisation
Nine state governors whose jurisdictions cover the Amazon rainforest have penned a letter calling for the proposed Brazilian System of Emissions Trading (SBCE) to include existing subnational REDD+ programmes, and allow subnational representatives to help comprise the future cap-and-trade system’s governing body.
Read MoreRGGI Market: RGAs reach 4-week high on low volume before Q3 auction
RGGI Allowance (RGA) prices inched upwards on weak volume as a combination of speculator interest in the power sector carbon market’s Third Program Review, positioning before next week’s Q3 auction, and weather kept current year prices above the $14 mark.
Read MoreProducers pick up CCAs and sell off RGAs, while speculators shorten in both markets
Regulated parties picked up California Carbon Allowances (CCAs) before the publication of historic WCI Q3 auction results and sold off RGGI Allowances (RGA), while speculators let go of permits in both markets, data from the US Commodity Futures Trading Commission (CFTC) showed Friday.
Read MoreWCI Markets: CCAs lift on historic auction settlement, WCAs slide into Q3 sale
California Carbon Allowance (CCA) prices climbed significantly following the Wednesday publication of an all-time high clear at the Q3 auction, while Washington Carbon Allowances (WCAs) slid going into their second auction in less than a month.
Read MoreWCI cap-and-trade auction settles at highest level in programme history during Q3
The August California-Quebec current vintage carbon auction settled at its highest point of all time while slightly surpassing secondary market levels, as the advance sale clearing price also achieved a new peak, according to government data published Wednesday.
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