Carbon Pulse

China’s Hubei province on Wednesday sold three quarters of the 2 million CO2 allowances on offer to ETS participants at an average price 2% below secondary market prices, pushing just over half a million permits on to Friday’s sale open to everyone.

China on Wednesday said EU talk about imposing border adjustment taxes on nations failing to act on climate change would “seriously undermine” the international process to fight global warming.

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

The California-Quebec current vintage carbon auction settlement retraced from the Q3 clearing price, despite embattled utility Pacific Gas & Electric (PG&E) taking part in its first auction since declaring bankruptcy in January.

A former US emissions trader for BP is liable for a $200,000 signing bonus after being fired within the first two years of employment, but questions still remain about whether the oil major terminated the position for cause, the US District Court of the Northern District of Illinois decided Monday.

Italian utility Enel published a new three-year business plan on Tuesday that aims to deepen its efforts to cut its global carbon footprint by shifting more funding to clean energy and networks.

The China Emissions Exchange in Guangzhou on Tuesday released rules for swap trades involving allowances from the Guangdong and EU carbon markets, as sources confirmed a trial deal had been executed between China Southern Airlines and a European company.

EUAs fought back from an early dip towards €24 on Tuesday, with a weak auction only causing a brief pause in their intraday recovery.

Countries must immediately peak their emissions and ratchet up GHG abatement to an 8% yearly clip over the next decade to keep the average global temperature rise within the more ambitious Paris Agreement limit, a UN report said Tuesday.

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

There was a time when people thought that forests were the low-hanging fruit of the climate challenge, and that reducing emissions from deforestation was fast, easy, and cheap. No one thinks that anymore.

Prices for California offset credits financially backed against invalidation could rise as a result of state regulator ARB's probe into a Michigan-based livestock project, developers and market participants said.

A Japanese consortium led by Mitsubishi Corp has agreed to buy Dutch energy company Eneco for €4.1 billion, beating rival offers from oil major Shell and private equity firm KKR.

The US EPA will likely not finalise its plan to introduce a supplementary proposal to next year's biofuel quotas under the Renewable Fuel Standard (RFS) until after the programme’s Nov. 30 deadline, as the agency reviews public comments on the strategy released this fall, according to a media report.

EUAs hit a two-week high early on Monday, but almost immediately retreated back towards negative territory and kept falling after a weak auction.

Global coal consumption is on track for a record drop of 3% year-on-year in 2019 amid lower electricity demand and a rapid increase in renewables and nuclear power, a report said Monday, with even numbers in China falling.

The EU’s southeastern neighbours have agreed to study imposing carbon taxes on their power sector to move towards EU ETS prices as a path to market linkage, though a poor clean energy record and stalled integration efforts cast doubt on the process.

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