Carbon Pulse

As part of her “European Green Deal”, incoming EU Commission President Ursula von der Leyen has promised to introduce a carbon border tax to “ensure that European companies can compete on a level playing field”. This is a new wind coming from the executive branch of the European Union and it remains uncertain how von der Leyen plans to turn the idea of a carbon border tax into practice.

Australia’s Clean Energy Regulator issued a record 13.66 million carbon credits in FY2018-19, according to its annual report on Thursday, but data also showed that new project development fell by more than 50% while the government’s Emissions Reduction Fund cancelled contracts for more offsets than it signed.

The British government would aim to complete all EUA free allocations and auctions for 2019 before next year’s compliance deadline should a Brexit deal be reached and the country remains in the ETS, a senior UK official said Thursday.

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An economy-wide CO2 price in the US would help prevent against emissions leakage versus subnational and sector-specific initiatives, while Congressional action would be needed to clarify if federal law will allow for a power sector carbon charge, according to wholesale grid operator PJM.

New York’s Department of Environmental Conservation will release a draft post-2020 RGGI regulation this year and will hold a public comment period as it looks to conform to the US Northeast ETS’ revisions, a government source told Carbon Pulse.

Carbon market analysts have raised their medium-term EU carbon price forecasts by as much 18% on the view that coal-to-gas fuel switching potential will be exhausted sooner than previously thought.

European carbon hit a fresh three-week high on Wednesday, whipsawing around for another session as EUAs continue to be directed by Brexit-fuelled fluctuations in the British pound.

Several big-emitting Asian nations are considering stepping up their low-ball Paris emission pledges as they discover viable alternatives to coal and a limited role for emissions trade under Article 6, according to the operational head of intergovernmental body GGGI.

The Queensland government in Australia is looking to buy over 90,000 carbon credits through its CarbonPlus Fund to offset emissions from its vehicle fleet.

Australia needs a carbon price for its electricity sector to ensure continued emission cuts, though the sector could deliver much deeper reductions at only modest cost to consumers, Origin Energy said Wednesday.

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The European Roundtable on Climate Change and Sustainable Transition in Brussels is seeking a Researcher to work for 12 months starting in November/December 2019, possibly extendible beyond this period.

The US EPA will only factor in a portion of past compliance obligations exempted under the Renewable Fuel Standard (RFS) to project waived volumes under the federal biofuels programme next year, the agency announced on Tuesday.

A beefed-up MSR will be the most essential of a multi-pronged approach to EU ETS reforms to ensure the carbon market delivers its share of the bloc’s net zero emission aims, a report has found.

Regulated entities in the WCI-linked ETS are increasingly taking long positions in the programme as California Carbon Allowance (CCA) prices retreat from record highs, while also selling call options further out on the curve, according to US Commodity Futures Trading Commission (CFTC) data.

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European carbon prices climbed to their highest in almost two weeks early on Tuesday on building hopes that a Brexit agreement can be struck this week.

The Guangdong provincial government has issued some 200,000 carbon credits in a sign that its offset market is gradually returning to life after a 10-month hiatus due to restructuring of market regulations.

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