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FACA Recommends USDA Carbon Bank Pilot Projects (Ind. Report)
Food and Agriculture Climate Alliance
Date: 2021-05-05
The Food and Agriculture Climate Alliance (FACA) has developed the following specific recommendations for how the U.S. USDA should approach a potential carbon bank -- a voluntary policy mechanism to help reduce barriers that producers and landowners face to participating in voluntary carbon markets and adopting climate-smart practices.

FACA recommends that USDA lay the foundation for a potential carbon bank by first developing a series of pilot projects aimed at:

  • Scaling climate solutions -- Pilot projects should help increase adoption of climate-smart practices that reduce, directly capture or sequester greenhouse gas emissions, and/or increase climate resilience. Pilots should deploy "critical climate infrastructure" to increase the capacity of farmers, ranchers and forest owners to adapt to climate change, while ensuring food and economic security.

  • Removing barriers to adoption -- Pilot projects should encourage the widespread adoption of climate-smart practices and critical climate infrastructure by removing barriers and making it easier for producers and landowners to adopt these practices.

  • Improving carbon accounting standards -- USDA should develop consistent and credible criteria to account for the carbon sequestration and greenhouse gas reduction benefits of climate-smart agriculture and forestry projects and practices.

  • Ensuring equitable opportunities -- Pilot projects must be developed with and provide equitable opportunities for minority, socially disadvantaged and small-scale producers.

  • Information gained from the pilots will serve two critical purposes -- First, it will help USDA build a durable foundation for a carbon bank that gains long-term bipartisan congressional support. Second, it will help USDA build confidence in how to verify the climate benefits delivered by specific practices and management approaches.

    According to the FACA, this approach will lay essential building blocks for a voluntary carbon bank that creates opportunities for all producers and landowners to participate in rapidly developing voluntary private markets and leverages private investment in agricultural and forestry climate solutions. As USDA develops a carbon bank, it must protect all existing funding for farm bill conservation and insurance programs, and it must ensure that a USDA-led carbon bank doesn't undermine voluntary private markets.

    The FACA consists of 70 member organizations representing farmers, ranchers, forest owners, agribusinesses, manufacturers, the food and innovation sector, state governments, sportsmen, and environmental advocates. These groups have broken through historical barriers to develop and promote shared climate policy priorities across the entire agriculture, food and forestry value chains, according to its website. (Source: FACA, Website PR, 3 Apr., 2021) Contact: FACA, www.agclimatealliance.com

    More Low-Carbon Energy News Voluntary Carbon Market,  Carbon Emissions,  Climate Change,  Carbon Bank,  Carbon Storage,  CCS,  


  • China Emissions Trading System Sets Interim Rules (Int'l.)
    China Carbon Market
    Date: 2021-02-05
    In Beijing, a set of interim rules for carbon emissions trading management in China came into effect on Monday, marking a key step in the establishment of a unified national emissions trading system (ETS). A total of 2,225 power firms across the country assigned with CO2 emission caps can now trade their emission quotas via the system whereby firms that exceed their caps can purchase unused quotas from those with low emissions. A stable carbon trading among power generators will pave the way for the gradual expansion of the national ETS to include more industries, trading varieties and trading modes, thus promoting the system's healthy and sustainable development.

    In an effort to build a national ETS, the country has been piloting emissions trading at the regional level since 2011, covering seven provinces and cities including Beijing, Shanghai and Guangdong. As previously reported, China aims to bring its carbon emissions to a peak before 2030 and become carbon neutral before 2060. (Source: China Ministry of Ecology and Environment, China Daily Global, Xinhua, 3 Feb., 2021) Contact: China Ministry of Ecology and Environment, english.mee.gov.cn

    More Low-Carbon Energy News China Carbon Markets,  China ETS,  


    Shanghai Pegged for China's National ETS Trading Platform (Int'l.)
    China Carbon Market
    Date: 2021-01-04
    In Beijing, the Chinese Ministry of Ecology and Environment is reporting China will set up the trading platform of its long-awaited nationwide emission trade scheme (ETS) in Shanghai and the registry platform in the central city of Wuhan. Shanghai and Wuhan are among seven cities that have carried out pilot trading schemes since 2011.

    The long-delayed scheme is expected to cover 2,267 power plants across China in its first phase and encourage firms to cut their greenhouse gas emissions through the purchase and sale of emission permits. Chinese President Xi Jinping has pledged to bring the country's carbon emission to a peak before 2030 and to reach carbon neutrality around 2060. Chine is presently the world's largest emitter of greenhouse gases.

    As reported in Dec., the China Securities Regulatory Commission is considering emissions trading futures to boost green development and help Beijing fulfill its promise to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.(Source: China Daily, Various Others, Jan., 2020)Contact: China Securities Regulatory Commission, www.csrc.gov.cnChinese Ministry of Ecology and Environment, english.mee.gov.cn

    More Low-Carbon Energy News China Carbon Markets,  China ETS,  


    Beijing Considering Emissions Trading Futures (Int'l. Report)
    Securities Regulatory Commission
    Date: 2020-12-21
    Yesterday, the China Securities Regulatory Commission reported it is considering emissions trading futures to boost green development and help Beijing fulfill its promise to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

    As previously reported, China has piloted emissions trading in seven provinces and cities, including Beijing, Shanghai and Shenzhen, since 2011 to explore market-based mechanisms to control greenhouse gas emissions. (Source: China Securities Regulatory Commission, China.org, Xinhua, 20 Dec., 2020) Contact: China Securities Regulatory Commission, www.csrc.gov.cn

    More Low-Carbon Energy News China Carbon Markets,  


    Climatetrade, Algorand Partnership Announced (Int'l. Report)
    Climatetrade,Algorand,
    Date: 2020-12-04
    Valencia, Spain-based carbon offsetter Climatetrade, a blockchain-marketplace for CO2 carbon offsetting, announced today it will leverage Algorand's scalable, secure and decentralized digital blockchain technology network to bring its technology to the next level.

    Climatetrade brings transparency and traceability into carbon markets with blockchain solutions services to large corporations. Climatetrade and its customers will be use Algorand as its primary infrastructure layer and leverage its carbon offsetting capabilities.

    Climatetrade aims to help companies achieve their sustainability goals by offsetting CO2 emissions and financing climate change projects. (Source: Cliamatetrade, Algorand Website PR, 2 Dec., 2020) Contact: Cliamtetrade, Francisco Benedito, CEO, www.climatetrade.com; Algorand, www.algorand.com

    More Low-Carbon Energy News Climatetrade,  Carbon Offset,  


    UK-Wide Carbon Markets Join Forces (Int'l. Report)
    UK Woodland Carbon Registry
    Date: 2020-12-02
    Two key UK-wide carbon markets -- the UK Woodland Carbon Registry and UK Peatland Code -- report they have joined forces to form the new UK Land Carbon Registry, a 'one-stop-shop' for woodland and peatland carbon schemes.

    To date, 526 woodland creation projects have registered with the new Woodland Carbon Code, with 40 pct being in Scotland. This represents a doubling of projects compared to the past year alone and these registered projects are predicted to sequester over eight million tonnes CO2 over their lifetime.

    "This new joint registry will support nature-based solutions to the climate and biodiversity crises. This builds on our existing support for the domestic carbon market, driven by our Woodland Carbon Guarantee scheme which provides landowners additional long-term income for capturing carbon through new woodlands. Well-managed woodlands and healthy peatlands play essential roles in helping us to reach net zero, " according to Government Forestry Minister Lord Goldsmith. (Source: UK Woodland Carbon Registry, FarmingUK, 30 Nov., 2020) Contact: UK Woodland Carbon Registry -- Woodland Carbon Code, www.woodlandcarboncode.org.uk; UK Peatland Code, www.iucn-uk-peatlandprogramme.org

    More Low-Carbon Energy News Carbon Emissions,  Carbon Markets,  


    Quantifi to Support Carbon Cap Investment Strategies (Int'l.)
    Quantifi,Carbon Cap Management
    Date: 2020-11-25
    Quantifi, a provider of risk, analytics and trading solutions, reports it has been selected by London-headquartered environmental asset management specialist Carbon Cap Management LLP to support its carbon emissions investment strategies. Carbon Cap's mission is to raise awareness about climate change and to provide solutions directly related to the capping and reduction of CO2 emissions.

    Carbon Cap recently launched the World Carbon Fund, a globally diversified fund investing in multiple liquid and regulated carbon markets. The fund pursues an absolute return strategy, seeking to deliver positive returns with a low correlation to traditional and alternative asset classes. It also seeks to have a direct positive impact on climate change.

    Quantifi's suite of integrated pre- and post-trade solutions allow market participants to better value, trade and risk manage their exposures and respond more effectively to changing market conditions. (Source: Quantifi, PR, 25 Nov., 2020) Contact: Carbon Cap, Michael Azlen, Founder and CEO, +44204 5265 480, investorinfo@carbon-cap.com, www.carbon-cap.com; Quantifi Solutions, Rohan Douglas, CEO, (212) 784-6815 -- NY, +44 (0) 20 7248 3593 -- London, www.quantifisolutions.com

    More Low-Carbon Energy News Carbon Market,  Carbon Cap Management,  Carbon Emissions,  CO2,  


    Vietnam Developing Carbon Tax, Pricing Tools (Int'l. Report)
    Vietnam
    Date: 2020-11-06
    The Vietnam Ministry of Natural Resources and Environment is reporting plans to develop a roadmap to implement market-based carbon pricing -- carbon tax -- tools as part of its effort to reduce greenhouse gas emissions.

    The Ministry has proposed adding the carbon market -- carbon tax to the revised draft Law on Environmental Protection which is expected to be approved by at the upcoming 10th legislative session.

    In 2012, Vietnam joined the Partnership for Market Readiness (PMR) which aims to establish carbon markets in developing, emerging countries like Vietnam. Vietnam became a member of the United Nations Framework Convention on Climate Change (UNFCCC) in 1994 and ratified the Kyoto Protocol in 2002.

    Vietnam is one of five countries most affected by climate change. If sea levels rise by one meter, one-fifth of the country's population could become homeless and 12.3 pct of farmland could disappear, experts have warned./. (Source: Vietnam Ministry of Natural Resources and Environment, VNA, 5 Nov., 2020) Contact: Vietnam Ministry of Natural Resources and Environment, (0243) 7956868, (0243) 8359221 -- fax, portal@monre.gov.vn, www.monre.gov.vn/English

    More Low-Carbon Energy News Carbon Tax,  Vietnam,  Climate Change,  


    ARPA-E Commits $16.5Mn for Biofuels Supply Chain Tech. (R&D)
    ARPA-E
    Date: 2020-09-04
    In Washington, the US DOE Advanced Research Projects Agency-Energy (ARPA-E) is reporting $16.5 million in funding for six projects as part of the Systems for Monitoring and Analytics for Renewable Transportation Fuels from Agricultural Resources and Management (SMARTFARM) program. These projects will develop technologies that bridge the data gap in the biofuel supply chain by quantifying feedstock-related GHG emissions and soil carbon dynamics at the field-level. These technologies will allow for improved efficiency in feedstock production and enable new ag-sector carbon removal and management opportunities.

    SMARTFARM teams will work to design and develop systems to quantify feedstock production life cycle GHG emissions at the field level reliably, accurately, and cost-effectively. Selected projects are capable of delivering a positive return on investment when field-level carbon emissions reductions are connected to associated biofuel carbon markets. The program also focuses on potential economic benefits to feedstock producers and future carbon management markets, potentially complementing yield-based revenues with incentives for input efficiency and restorative practices. This focus will also help to lay the groundwork for market structures to shift away from national averages and toward lower uncertainty field-based estimates for incentivizing efficiency and other services.

    Working to make the biofuel supply chain carbon-negative through the removal or sequestration of carbon would greatly improve biofuel's economic and environmental benefits. Achieving reductions in carbon emissions also encourages feedstock producers to adopt new technologies and practices to quantify their impact. SMARTFARM teams are working to develop robust quantification methods through these awards so that management practices can be linked to environmental and economic outcomes simultaneously.

    Download SMARTFARM projects funding recipients and details HERE (Source: ARPA-E, Website PR, Sept., 2020) Contact: ARPA-E, Lane Genatowski, Dir., www.arpa-e.energy.gov

    More Low-Carbon Energy News ARPA-E,  Biofuel,  Renewable Fuels,  


    Private Sector Cooperates to Scale Carbon Offsetting Markets (Int'l.)
    Carbon Markets,Institute of International Finance
    Date: 2020-09-04
    The Institute of International Finance (IIF) is reporting Unilever, Nestle, BP and Shell are among the 40 top private sector members of a new Taskforce on Scaling Voluntary Carbon Markets spearheaded by former Bank of Canada and Bank of England Governor Mark Carney.

    The Taskforce will work to take stock of existing voluntary offsetting schemes and identify key challenges to scaling them up while helping businesses meet their own commitments and to align with legally binding climate targets in the markets where they operate. It is also hoped the Taskforce will play a role in boosting carbon prices which stood at a global average of $2 per ton in Oct., 2019.

    According to Carney , the current market for offsets will need to grow by at least 15-fold by 2030 if the private sector is to align with the Paris Agreement's 1.5C trajectory by 2050. Carney noted it may need to be up to 160 times bigger than in 2020, should corporates rely on offsetting rather than emissions reductions. (Source: IIF, Taskforce on Scaling Voluntary Carbon Markets, edie, PR, Sept., 2020) Contact: Institute of International Finance, Taskforce on Scaling Voluntary Carbon Markets, info@iif.org, www.iif.com/tsvcm/Main-Page/Publications/ID/4061/Private-Sector-Voluntary-Carbon-Markets-Taskforce-Established-to-Help-Meet-Climate-Goals

    More Low-Carbon Energy News Institute of International Finance ,  Carbon Emissions,  Carbon Markets,  


    EU, Swiss Carbon Markets Link Set for Sept. Launch (Int'l.)
    European Commission
    Date: 2020-08-07
    In Brussels, the European Commission (EC) is reporting the planned link-up of the EU and Swiss carbon markets is slated to be operational from September 21, this year. The two registries are not yet connected by a permanent link, but will use a provisional system to launch trading this year.

    The EU carbon market is the 28-member trading bloc's flagship policy for cutting greenhouse gas emissions, which it does by forcing power plants, factories and airlines to buy permits to cover some of the pollution they emit.

    The EU carbon market covered just shy of 1.6 billion tonnes of carbon dioxide equivalent (CO2e) last year. The Swiss carbon market coveredless than 5 million tonnes of CO2e from industrial facilities in 2019. (Source: European Commission, europa.eu, Reuters, Aug., 2020)

    More Low-Carbon Energy News Carbon Market,  EU ETS,  Carbon Trading,  


    Growing Climate Solutions Act calls for USDA to Lead Voluntary Carbon Credit Markets (Reg. & Leg.)
    USDA
    Date: 2020-07-08
    In Washington, the recently tabled Growing Climate Solutions Act, a bipartisan bill seeking to address climate change by placing the United States Department of Agriculture (USDA) in a leadership role over voluntary carbon credit markets would "break down barriers for farmers and foresters interested in participating in carbon markets so they can be rewarded for climate-smart practices," according to the bill's Senate co-sponsors. While proponents tout the benefits of voluntary conservation practices, critics say the approach will result in limited climate action rather than meaningful change.

    The bill creates a certification program at USDA so that farmers and forest landowners can better participate in voluntary carbon credit markets that can help land managers pay for conservation practices, which in turn could help to store carbon in soil, trees, and ecosystem restoration projects.

    The bill's lead sponsor, Senator Mike Braun, (R-IN) serving on the Senate Agriculture Committee, is joined by Debbie Stabenow (D-MI), along with Lindsay Graham (R-SC) and Sheldon Whitehouse (D-RI.) The American Farm Bureau Federation, National Farmers Union, National Milk Producers Federation, Environmental Defense Fund, World Wildlife Fund, McDonald's, and Microsoft are among the bill's supporters. (Source: Daily Yonder, 7 July, 2020)

    More Low-Carbon Energy News Carbon Credit,  USDA,  Carbon Credit Market,  


    Ontario Forest Carbon Offset Agreement Announced (Ind. Report)
    AurCrest Gold,Blue Source Canada
    Date: 2020-05-13
    Further to our Aug, 2019 coverage, Toronto-headquartered AurCrest Gold Inc. is reporting an agreement with the Lac Seul First Nation (LSFN) and carbon offset developer Blue Source Canada ULC to develop a forest carbon project on the Lac Seul reserve northwest of Sioux Lookout, Ontario.

    On December 13, 2019, the Company announced an Emissions Reduction Benefits Management Agreement (ERBMA) with Lac Seul to develop forest carbon sequestration opportunities in the First Nation's territory in Northwestern Ontario. Under the terms of the ERBMA, AurCrest is the sole and exclusive agent for LSFN to manage and develop projects within LSFN traditional territory to harvest ERBs. AurCrest entered into the CDMA with Bluesource to provide the expertise associated with development and monetizing the carbon offsets.

    Bluesource helps forest owners evaluate opportunities and generate value in diverse carbon markets by developing and monetizing offsets on their behalf. (Source: AurCrest Gold Inc., PR, 11 May, 2020) Contact: AurCrest Gold Inc., Christopher Angeconeb, Pres., CEO, (807) 737-5353, christopherangeconeb@gmail.com, Ian Brodie-Brown, Dir. Bus. Dev., (416) 844-9969, ianbrodiebrown@gmail.com, www.aurcrest.ca; Blue Source Canada, (403) 262-3026, www.bluesource.com

    More Low-Carbon Energy News AurCrest Gold,  Blue Source Canada,  Carbon Offset,  


    Notable Quotes -- Carbon Markets and Carbon Emissions
    EU ETS
    Date: 2020-04-08
    "This (COVID-19 pandemic) is a perfect storm for Europe's carbon market, and it may well lead to some challenging questions about its role in Europe's decarbonisation strategy once the COVID-19 crisis has passed." -- Coralie Laurencin, IHS Markit Dir. (Note: Europe's carbon price has dropped 40 pct since early March when they were still trading at roughly €24 ($26) per metric ton to €16-18 per metric ton. In 2019 the high was €29 per metric ton.)

    "All of society, from consumers, to businesses, to governments, recognised the need to accelerate global efforts to reduce greenhouse gas emissions," -- Ben van Beurden, CEO,Shell Oil, April, 2020

    More Low-Carbon Energy News Carbon Market,  EU ETS,  


    Family Forest Carbon Markets Program Launched (Ind. Report)
    American Forest Foundation
    Date: 2020-03-30
    The American Forest Foundation (AFF), in partnership with The Nature Conservancy (TNC), is touting its introduced the Family Forest Carbon Program (FFCP). The program addresses barriers that deter family forest owners from participating in carbon markets while providing companies an opportunity to reduce their carbon footprint.

    The Family Forest Carbon Program offers a practice-based approach, where landowners are given incentive payments to implement science-based sustainable forest practices guaranteed to produce additional carbon sequestration. This unique, practice-based methodology takes into account the constraints of small forest ownership, yet is more credible and scalable, to allow small landowners to contribute at a landscape level. The program also provides a range of co-benefits that address biodiversity, forest health, water quality, ecosystem resilience and related issues.

    Download Family Forest Carbon Program details HERE . (Source: American Forest Foundation, Sustainable Brands, Mar. Apr., 2020) Contact: Family Forest Carbon Program, Tom Martin, President & CEO, 202-765-3472, tmartin@forestfoundation.org, www.forestfoundation.org

    More Low-Carbon Energy News American Forest Foundation,  Carbon Credits,  ,  


    Madrid COP25 Failure Bemoaned - Notable Quotes
    COP25
    Date: 2019-12-18
    "We're disappointed with the lack of willingness by some parties to work together to ensure environmental integrity, to respond to the needs of the most vulnerable communities, and to build upon rather than undermine the Paris agreement." -- Sonam Wangdi, Chair, Least Developed Countries negotiating group.

    "Some countries are championing double counting and pre-2020 rollovers... they are undermining environmental integrity” -- Grenada Environment Minister

    "It's time to move on. Countries that are serious about using carbon markets to increase ambition should move forward to set their own strong rules for high integrity international emissions trading." -- Nat Keohane, Snr. VP Climate, US Environmental Defense Fund. (Source: Various Media, Montel, 17 Dec., 2019)

    More Low-Carbon Energy News COP25,  


    Notable Quotes on Trump's RFS Action
    RFS,Iowa Renewable Fuels Association,
    Date: 2019-10-07
    "We welcome the (Trump RFS) proposal to restore integrity to the RFS. We will work with our champions and the White House to make sure the EPA's final rules ensure that a 15 billion-gallon RFS will actually be a 15 billion-gallon RFS. If that is accomplished, the integrity of the RFS will have been restored and President Trump's promise to protect and uphold the RFS will have been redeemed." - Monte Shaw, Iowa Renewable Fuels Association, (Source: Iowa Renewable Fuels Association, Waterloo Cedar Falls Courier, 5 Oct., 2019)Contact: Iowa Renewable Fuels Association Monte Shaw, Exec. Dir., info@IowaRFA.org, (515) 252-6249, www.iowarfa.org

    "It's up to each individual entity, but the innovation of taking advantage of low-carbon markets. I think if we can differentiate ourselves within the state of North Dakota, to take advantage of those and be long survivors in this industry." - Gerald Bachmeier, CEO, Red Trail Energy (Source: Red Trail Energy, West Dakota Fox, 5 Oct., 2019) Contact: Red Trail Energy, 701-974-3308, www.redtrailenergy.com

    More Low-Carbon Energy News RFS,  "Hardship" Waiver,  Ethanol.Ethanol Blend,  Iowa Renewable Fuels Association,  Red Trail Energy,  


    Global Carbon Credits Index Launched in UK (Int'l Report)
    IHS Markit, Climate Finance Partners
    Date: 2019-09-27
    London, UK-headquartered information and analytics provider IHS Markit reports the launch of its Global Carbon Index, the first benchmark for the global price of carbon credits.

    The Index tracks the performance of the largest, most liquid and most accessible tradable carbon markets -- the European Union Emission Trading System (EU ETS), the California Cap-and-Trade Program, and the Regional Greenhouse Gas Initiative (RGGI). The index is calculated using OPIS data and carbon credit futures pricing in those markets.

    The IHS Markit Global Carbon Index was developed in consultation with Climate Finance Partners, a specialist in climate finance. IHS Markit is also well known for its daily OPIS Carbon Market Report, national carbon policies database and for developing industry standard methodologies for greenhouse gas accounting and disclosures. Its research and expertise on carbon policy impact, low-carbon and cleantech technologies and carbon risk management guide companies in energy, petrochemical, automotive, shipping, agriculture and other sectors critical to the global economy. (Source: IHS Markit , 25 Sept., 2019) Contact: IHS Markit, www.ihsmarkit.com

    More Low-Carbon Energy News RGGI,  EU ETS,  IHS Markit Carbon Market,  Carbon Credit,  


    Universal Solar Tech Confirms Alt. Energy Strategy (Ind. Report)
    Universal Solar Technology
    Date: 2019-07-15
    Houston-headquartered Universal Solar Technology reports it is partnering with Entrex Capital Markets and its Blockchain enabled trading platform and other associated partnerships in solar utility sectors.

    To that end, the company's strategic plan for the second half of fiscal year 2019 includes: completion of the next round of funding for Entrex Carbon Markets and other partnerships; moving from strategic startup phase to functional operating phase by Q4 2019; recruiting the necessary executive leadership; take steps to develop first entry into Diversified Solar Utility; formalize investor relations efforts to stay in front of news cycles and improve accountability to shareholders; and target upgrading the stock from OTC Pink to OTC QB within the next 18 months. (Source: Universal Solar Technology Inc., PR, EIN, 12 July, 2019) Contact: Universal Solar Technology Inc., Paul D. Landrew, (832) -229-7046, www.universalsolartechnology.com

    More Low-Carbon Energy News Universal Solar Technology,  Solar,  


    Chinese Carbon Markets Trading Hits 337Mn Tonnes by June (Int'l)
    China Carbon Market
    Date: 2019-07-12
    In Beijing, China's Ministry of Ecology and Environment reporting China's carbon emissions allowances trading reached 337 million tonnes at the country's nine carbon markets with a turnover of 7.3 billion yuan ($1.06 billion) by the end of June.

    In June alone, the trading at nine carbon markets across the country were up 81.3 pct and 38.3 percent month on month, respectively, Xinhua said. (Source: China Ministry of Ecology and Environment, Xinhua, 11 July, 2019) Contact: China Ministry of Ecology and Environment, english.mee.gov.cn

    More Low-Carbon Energy News China Carbon Market,  China Cap-and-Trade,  


    Spark Change, BJSS Partner on Global Carbon Price (Ind Report)
    Carbon Emissions, Spark Change
    Date: 2019-05-08
    In London, Spark Change, a Seattle-London based FinTech company for the creation of green financial products, and UK-based business consultancy BJSS are reporting completion of the first phase of their partnership to deliver a unique combination of Commodity and Trading Risk Management (CTRM) and Distributed Ledger Technology (DLT) solutions to create the world's first global carbon price.

    Climate Change has been widely recognized as one of the greatest challenges for and threats to society. However, placing a cost on emitting CO2 has been limited to regional markets that are not interconnected, with the price paid by emitters being insufficient to incentivize investment in cleaner technologies.

    Spark Change has created a transformational financial instrument, Spark, that integrates regional carbon markets into a single product, simultaneously allowing investors to gain exposure to a global carbon price and forcing emitters to invest in cleaner technologies and accelerate the reduction in emissions.

    Spark Change's Cloud-based CTRM platform gathers live pricing information via regional integrations with exchanges across Europe, North America and soon China. Smart contracts are used to calculate a global carbon price using the weighted emissions per GDP of each of these regions, and the proceeds from every investment in Spark used to automatically execute the purchase of emission allowances from across the regional markets. The distributed ledger allows reconciliation of the number of Spark held by investors with the number of emissions allowances being held in reserve, creating a one-to-one asset backed financial instrument. (Source: Spark Change; PR, May, 2019) Contact: Spark Change, Joff Hamilton-Dick, CEO, www.sparkchange.io; BJSS, www.bjss.com

    More Low-Carbon Energy News Climate Change,  Carbon Emissions,  


    BNP Paribas Launches Quant Carbon Offset Fund (Int'l Report)
    BNP Paribas
    Date: 2019-04-01
    Paris-based BNP Paribas Asset Management is reporting the launch of a new Quant Europe Climate Carbon Offset Plan which aims to capture the performance of European liquid equities with high ESG standards. The strategy selects these according to their carbon footprint and the robustness of their energy transition strategy.

    The fund also aims to offset the carbon footprint of the investment strategy, which is achieved through the use of Verified Emission Reductions certificates from the Kasigau Corridor REDD+ project, which is based in south east Kenya. The project protects more than 200,000 hectares of endangered dryland forest.

    The launch of this latest Ucits funds is in line with BNP Paribas AM's Global Sustainability strategy, which includes the plan to reduce the environmental impacts of its operations.

    Paris, France-headquartered BNP Paribas S.A. is the world's 8th largest bank by total assets and currently operates in 77 countries. (Source: BNP Paribas, CityWire Selector, 29 Mar., 2019) Contact: Bank BNP Paribas, Neven Graillat, Chief Sustainability Product Officer at BNP Paribas Global Markets said: ‘The management of risks relating to www.group.bnpparibas/en

    More Low-Carbon Energy News BNP Paribas,  Carbon Footprint,  Carbon Markets,  


    UK Planning Post-Brexit Emissions Trading Scheme (Int'l Report)
    EU ETS
    Date: 2019-03-01
    In London, the UK Energy and Clean Growth Minister Hon. Claire Perry is confirming the government is working on plans to develop a "post Brexit" domestic emission trading scheme [ETS) that could link with the existing EU ETS from January 2021. The UK government is hoping to leave the EU with a Withdrawal Agreement that allows it to remain in the bloc's ETS through to the end of the current trading period at the close of 2020 at which time it would establish a domestic ETS that could integrate with the EU scheme,

    According to the Minister, the EU would be keen to integrate the two carbon markets, despite the fact formal talks on the issue will not start until the UK has resolved the current parliamentary stand-off over the Withdrawal Agreement. The UK is one of the largest participants in the continent-wide EU ETS which has been widely credited with helping to drive down emissions across the 28-member bloc.(Source: UK Energy and Clean Growth Minstry, BusinessGreen, 28 Feb., 2019) Contact: U.K. Energy and Clean Growth Minister, www.gov.uk/government/ministers/minister-of-state-minister-for-energy

    More Low-Carbon Energy News Claire Perry,  EU ETS,  Aviation Emissions,  


    ADB Touts $4Mn Facility to Help Asia Meet Climate Commitments (Int'l)
    Asian Development Bank
    Date: 2018-12-10
    Reporting from Manila, the Asian Development Bank (ADB) is heralding the launch of the $4 million, Article 6 Support Facility to help developing member countries (DMCs) in Asia and the Pacific combat climate change.

    Funded by ADB, the Government of Germany, and the Swedish Energy Agency, the facility will provide technical, capacity building, and policy development support to help the DMCs meet Article 6 of the Paris Agreement under which countries voluntarily committed to lower their carbon emissions.

    The Article 6 Support Facility is intended to help DMCs achieve expertise, draw lessons from pilot activities, and enhance their preparedness for participation in carbon markets beyond 2020, while contributing to international negotiations.(Source: ADB, Modern Diplomacy, 8 Dec., 2018) Contact: Asian Development Bank, +63 2 632 4444, www.adb.org

    More Low-Carbon Energy News Paris Climate Agreement,  Asian Development Bank,  Climate Change,  Carbon Emissions,  


    World Bank State and Trends of Carbon Pricing 2018 - World Bank Report Attached (Ind. Report)
    World Bank
    Date: 2018-06-06
    "Since it was first launched more than a decade ago, the annual State and Trends report has established itself as perhaps the most important reference document -- first on carbon markets and, later, on carbon pricing more broadly -- by providing up-to-date information on developments in initiatives and policies around the world. Previous editions also included analytical discussions on issues that related to these developments.

    "The 2018 edition of the report focuses exclusively on data and information on the evolving initiatives that put a price on carbon, in terms of their most current status and emerging trends. It includes an expanded discussion on what the trends are telling us about the underlying motivations of and the direction the world is moving in when it comes to carbon pricing.

    "The growing momentum for carbon pricing and the increasing prevalence of the topic in climate change discussions in recent years take us in a new direction for the report. More national and sub-national jurisdictions and private sector entities are adopting carbon pricing.

    "This report also includes a reflection on the engagement of non-state actors on climate action and carbon pricing -- a development that characterizes the implementation phase the world has embarked on since the adoption of the Paris Agreement. The inclusion of internal carbon prices in business operations, and how this is incentivizing action on climate change, has raised the need to expand the focus to include an important discussion on how carbon pricing is considered in other economies and the indirect measures taken to provide a carbon price signal."

    Download the World Bank Group State and Trends of Carbon Pricing 2018 report at www.openknowledge.worldbank.org/handle/10986/29687.

    Download an online dashboard to complement the publication HERE. (Source: World Bank Group, May, 2018)Contact: World Bank Group, www.worldbank.org

    More Low-Carbon Energy News World Bank,  Carbon Price,  

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