Carbon Pulse

EUAs slid for a second day on Wednesday but found buyers just above technical supports despite ongoing weakness in energy markets, as trading data showed the number of participants in the market reached a new all-time high.

Beijing plans to set up a trading centre for voluntary carbon trading, the municipal government said Wednesday, a move seen as positioning the capital as the key hub for the voluntary market after Shanghai landed the right to serve the national compliance market.

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The EU cannot neglect the projected growth in emissions from least-developed countries (LDCs) when designing its carbon border adjustment mechanism (CBAM), an IPCC senior advisor said on Tuesday.

California regulator ARB spent months evaluating whether to open offset investigations after discovering potential regulatory violations at two livestock projects, according to documents obtained by Carbon Pulse.

A Washington State Senate committee moved a WCI-aligned cap-and-trade bill closer to a full floor vote on Monday, though lawmakers inserted a provision that will tether the programme’s implementation to the enactment of a transportation funding package.

EUAs fell 3.3% on Tuesday, giving back the previous session's gains as wider markets weakened on fears about how renewed coronavirus restrictions will hit consumer demand and impede an economic recovery.

Analysts have raised their short-term outlook for EU Allowances as new investors continue to stream into the market amid the start of a “carbon supercycle”.

US biofuel credit (RIN) values surged on Tuesday on strong bean oil prices and the reopening of a gasoline arbitrage, erasing much of the losses sustained under the Renewable Fuel Standard (RFS) last week.

China needs rapidly rising prices in its emissions trading scheme and a modest carbon tax for non-covered sectors in order to stand a chance of meeting its climate ambitions, but even then it will have to rely on technological progress, one of the country’s top investment banks said Tuesday.

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South Korea has issued its first batch of Korean Offset Credits (KOCs) generated abroad and intended for use in its domestic emissions trading scheme.

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Oil major BP saw a 10.1% drop in its 2020 full-scope GHG emissions as sales fell sharply due to pandemic restrictions, it said on Monday, reporting less of a decrease than that of its main rival Shell.

RGGI’s remaining auctions this year will see total volume decline by roughly 4% from the Q1 sale, after two member states set their allowance allocation levels following the power sector carbon market’s bank adjustment announcement last week, data showed.

Voluntary emission reduction (VER) prices between different exchange-traded products narrowed over the week, while voluntary carbon market (VCM) participants took note of entities tacking on a premium to credits eligible for UN body ICAO’s global aviation offset scheme CORSIA.

EUAs hit €43 on Monday, climbing back towards record levels as higher energy and equity prices helped counter renewed coronavirus lockdown worries in Europe.

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Years after being widely discredited, decade-old Kyoto Protocol offsets from Russia and Eastern Europe are still in circulation in the voluntary carbon market, with nearly 2.6 million sold to companies in the EU and US by an established trading house that said some buyers are seeking the cheapest possible credits.