Carbon Pulse

EU carbon prices climbed above €18 to set a new seven-year high on Monday, extending its run of recent gains amid thin volumes and August’s curtailed auction supply.

Australia’s Clean Energy Regulator last week issued 236,502 new carbon offsets, all of which went to projects seeking to save greenhouse gas emissions through land-use management.

New Zealand on Monday released a consultation paper proposing major revisions to its emissions trading scheme, including setting an annual absolute cap, replacing the fixed price option with a cost containment reserve and launching a process to phase down free allocation to industrials.

Power sector emissions and fuel consumption in California moved in opposite directions during recent months, roughly in sync with 2017 levels and potentially cancelling out the overall impact on the state’s cap-and-trade emissions.

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Entities participating in the WCI cap-and-trade programme will see their holding limits revised downward next month to account for Ontario leaving the linked carbon market.

European carbon prices reached their highest level since May 2011 on Friday, setting a fresh seven-year peak in thin trade amid curtailed auction supply.

Prices for California Low Carbon Fuel Standard (LCFS) credits retreated this week as sell-side pressure reversed gains made in late July that helped notch several records.

Closing prices, ranges and volumes for China's regional pilot carbon markets this week.

Several state ministers on Friday refused to back the federal government’s proposed National Energy Guarantee (NEG), choosing instead to await the outcome of next week’s Coalition party room meeting in the hope that some of their major concerns about the scheme might be addressed there.

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Activity in the California carbon market picked up this week as market participants looked ahead to next week’s quarterly auction, while RGGI prices fell as key member states advanced clean energy policies.

European carbon prices nudged back above €17.50 on Thursday, rising after a stronger auction to buck a three-day slide and push prices back towards their recent seven-year high.

Danish utility Orsted reported an 11% dip in its bioenergy and thermal power generation over H1, though any EUA demand decrease is likely to be limited as the company’s move away from fossil fuels continues.

Germany has launched a tender to procure nearly 300,000 offsets as part of its commitment to neutralise the GHG emissions generated from the business trips of federal government officials.

Spot NZU prices lifted on Thursday to set a fresh record high, the twelfth over the past two months, as available supply remained scarce and some emitters bet on impending clarity on government plans to amend the ETS.

Non-forestry firms covered by New Zealand’s emissions trading scheme handed in 6.8 million allowances more in 2017 than the previous year despite only a modest increase in emissions as the phase-out of the scheme's 2-for-1 rule began to take effect.

California regulator ARB on Wednesday provided updates to its proposal to incentivise the uptake of more zero-emissions vehicles (ZEVs) under the state’s Low Carbon Fuel Standard (LCFS), including a controversial measure to credit ZEV infrastructure build-out introduced earlier this summer.

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

California regulator ARB granted over 2.8 million California Carbon Offsets (CCOs) this week in the largest issuance since May, with an Oregon tribe’s forestry project receiving over three-fourths of that total.