UPDATE- Global voluntary carbon market initiative seeks to define credible buying strategies
A new global cross-stakeholder initiative aims to agree on how companies should use carbon credits and ensure the voluntary carbon market contributes to Paris Agreement goals.
Read MoreCalifornia grants 1 mln new offsets, as wildfires near another forestry project
California minted almost 1 million new compliance-grade offsets over the past two weeks, but these issuances came as a new West Coast wildfire appeared to impact another existing forestry project registered under the WCI-linked cap-and-trade programme, state data and researchers reported this week.
Read MoreREDD developer Biofilica targets tenfold carbon credit growth following merger
Brazilian offset developer Biofilica announced its acquisition by a multinational environmental management firm on Tuesday, with the purchase aimed at generating 10 times as many voluntary emissions reductions (VERs) compared to current volumes and expanding into more nature-based project types.
Read MoreRGGI speculative firm opens new account, eyes California offset market
A Texas-based hedge fund opened a RGGI CO2 Allowance Tracking System (COATS) account on Wednesday, with the firm having been linked to two previous speculative accounts under a different name.
Read MoreRFS Market: RINs lift to month high on import flows
US biofuel credit (RIN) prices went on the upswing over the past week as traders pointed to a diesel arbitrage and gasoline import data as supporting factors for the Renewable Fuel Standard (RFS) market.
Read MoreCalifornia gasoline consumption continues steadily rise toward pre-pandemic levels in April
California gasoline usage increased for the second consecutive month in April, as consumer demand continues to skew back towards pre-COVID levels amid fewer state-level restrictions, according to state data released this week.
Read MoreMinisters to continue Article 6 talks through to Glasgow UN climate summit
Ministers from more than 50 countries will continue talks on key issues, including Article 6 international emissions trade, through to November’s COP26 UN climate summit, UK minister Alok Sharma said on Monday following an inconclusive two-day informal ministerial meeting in London.
Read MoreNew service plans CO2 removal certification system mirroring I-RECs
A new joint venture is planning to launch a certification system for carbon removals, with the aim of addressing issues regarding transparency and trust that have affected the existing voluntary emissions reduction (VER) market.
Read MoreVCM Report: VERs steady on upward path, as developers forgo forward contracts
Voluntary carbon market prices for nature- and non-nature-based credits rose once again this week, as project developers began shifting back to spot voluntary emissions reduction (VER) deals rather than forward contracts.
Read MoreTraders Hartree to fund major expansion of REDD developer Wildlife Works
Trading house Hartree Partners has struck a deal that could treble the REDD credits generated by established developer Wildlife Works within four years.
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