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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 11 min ago
NA Markets: CCA prices rise after coronavirus-fuelled meltdown, as RGGI recovers
California Carbon Allowance (CCA) prices rose week-on-week for the first time since permits plummeted below the current WCI floor price amid a speculator-led selloff, while RGGI allowance (RGA) prices recovered nearly all of their previous losses seen over the COVID-19 pandemic.
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COMMENT: Doubling down on climate action in the time of corona
Let this economic crisis not be a brake on the low-carbon transition, but an accelerator. With the Green Deal as a compass, we can marry our emergency spending with structural changes that will prepare us for a greener tomorrow. Because we cannot backtrack on our climate commitments, neither governments nor companies. That is more than crisis management, that is responsible policy, writes Renat Heuberger, CEO, South Pole.
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EU emissions to tumble on virus impact in 2020, but expect rapid recovery -report
EU emissions will decline 250-450 MtCO2e in 2020 as a result of coronavirus-triggered shutdowns, a steeper drop than that seen during the 2009 financial crisis but one that researchers expect will be shorter-lived.
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Colombia extends verification arrangements for carbon tax offset projects
Colombia has prolonged temporary verification requirements for domestic offsets eligible for use against the South American nation's $5/tonne CO2 levy as the federal government continues work on its accreditation programme for in-country projects.
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EU Midday Market Briefing
EUAs lifted back towards €18 early on Thursday as surging oil markets and a strong auction stirred buying, despite a bearish technical outlook.
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China readies rules for carbon finance products ahead of ETS launch
China is preparing a set of rules and standards for financial products tied to its emerging carbon market, indicating those will eventually become available for traders though it remains uncertain if the instruments will be allowed from the start of the national emissions trading scheme.
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NZ Market: NZUs hone in on FPO level as buying interest pushes up prices
New Zealand carbon allowances gained another 2.1% in Thursday trade, pushing prices to within touching distance of the NZ$25 fixed price option.
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UK should form national offset watchdog, think-tank says
The UK should set up a national body to guarantee the credibility of domestic carbon offsetting and spur land restoration, according to a report published by a think-tank on Thursday.
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CP Daily: Wednesday April 1, 2020
A daily summary of our news plus bite-sized updates from around the world.
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Utah GOP approves budget with funding for California ETS lawsuit
Utah Republicans have passed a budget that restores funding for a lawsuit to challenge the legality of California’s cap-and-trade programme and emissions performance standard (EPS), a government spokesperson confirmed.
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UPDATE – COP26 climate summit postponed to 2021 over coronavirus fears
Governments have agreed to delay the COP26 summit in Glasgow until 2021 due to the COVID-19 pandemic, meaning the nearly 200 parties to the Paris Agreement will probably have to wait at least another six months to agree the rulebook for international emissions trading under the 2015 climate pact.
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Free EUA allocation set to be a major front in carbon border tax battle
Big-emitting industries, national delegations, and green groups seem to agree on the need for an EU carbon border adjustment, but a tussle over the allocation of free EUAs is expected in the following months.
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LCFS Market: Credit rally peters out at $200
California Low Carbon Fuel Standard (LCFS) prices returned to a two-week high in recent days, but increased demand that picked credit values off a two-year low finally left the market.
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California fuel consumption dips in 2019, likely cutting ETS obligations
California fuel consumption fell slightly year-on-year in 2019 as gasoline demand slid, likely reducing WCI-covered emissions compared to the prior year, state data published this week suggested.
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EU Midday Market Briefing
EUAs fell almost a euro to below €17 early on Wednesday, halting carbon's recent recovery as markets dove on worsening coronavirus developments and the UK's auction barely cleared.
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Emissions Market Analyst, ENGIE – Brussels
ENGIE is looking for an emissions market analysts for its Brussels' office.
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Major EU ETS emitters report output drop of 20% in 2019 -analysts
The biggest 50 emitting installations in the EU ETS reported a 20% year-on-year drop in greenhouse gas output for 2019, analysts said on Tuesday, interpreting the first preliminary like-for-like data released by the European Commission.
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Tokyo ETS emissions edge up, but remain well below target
Companies participating in Tokyo’s municipal emissions trading scheme marginally increased their CO2 output in FY2018, but most have already met their target for 2024, according to government data.
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Carbon consultancy offering ‘Corona Credits’ to offset emissions reduced by global virus lockdown
*FREE READ* - A new carbon consultancy is calculating the global greenhouse gas emissions being saved by people working from home due to the coronavirus outbreak, and it is packaging and selling the reductions as voluntary carbon offsets.
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CP Daily: Tuesday March 31, 2020
A daily summary of our news plus bite-sized updates from around the world.
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