Carbon Pulse

New Zealand carbon permits on Monday fell back to the lower end of their recent range, curbed by the ongoing policy inertia and the fixed price option (FPO).

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ICAO’s Assembly on Friday backed the progression of work on setting a long-term emissions target for aviation and to advance the UN body’s CORSIA global offsetting mechanism towards operationalisation, though a fifth of the countries in attendance voted against the two resolutions in a surprise secret ballot.

A fast-track EU climate bill will propose a net zero 2050 emission goal early next year but is expected to omit any ramping up of the 2030 goal, observers said Friday.

The WCI cap-and-trade programme’s allowance surplus rose further towards the 200 million mark during the third quarter of 2019, while California and Quebec regulated entities shifted additional units into compliance accounts ahead of the November deadline, according to the carbon market’s joint compliance report published Friday.

President Donald Trump on Friday tasked two federal agencies with taking steps to elevate next year’s biofuel quotas under the US Renewable Fuel Standard (RFS), also requesting that the departments continue to evaluate credit market reforms after previous proposals were shelved this year.

European carbon prices consolidated near yesterday’s six-month lows on Friday, taking a breather after two days of heavy losses.

Norway has agreed to release the final $50 million of its forestry protection payments to Guyana after the South American nation agreed to increase its renewable energy use.

South Korea plans to reduce the number of allowances issued to participants in its emissions trading scheme over the 2020s as part of its strategy to meet Paris Agreement obligations, according to a draft government climate plan.

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RGGI allowance (RGA) prices reversed course this week after Pennsylvania’s governor announced the state will seek to join the Northeast US ETS, while California Carbon Allowance (CCA) values dropped as participants took advantage of a declining spread.

A proposed federal clean energy standard could help promote renewable generation build out in the US, but could also create technology conflicts and market inefficiencies if state-led policies set more ambitious goals, panelists said at the Environmental Markets Association (EMA) conference Thursday.

The New York Independent System Operator (NYISO) will seek support from a yet-to-be formed state council to help push a carbon price in the jurisdiction’s wholesale electricity market, a grid operator official said Thursday.

The European Commission will advance work on carbon border adjustments as part of its new programme of climate action, its incoming finance chief said on Thursday, reaffirming Brussels’ resolve as the US slaps fresh duties on European goods.

Pennsylvania Governor Tom Wolf (D) issued an executive order on Thursday for the state to design a power sector carbon market in alignment with the US RGGI system, a move that could balloon the size of the nine-state programme in the next decade.

Cambodia has asked Germany to consider buying some of its nature-based carbon credits, the government said in a statement, likely putting the country's REDD programme in the frame.

California regulator ARB rebuked a recent academic report on Tuesday, saying it had not invalidated any forest offset credits and only the state agency had the authority to do so.

European carbon prices plummeted to a six-month low on Thursday, with technical selling, investor exits, and bearish fundamentals weighing.

The managing director for environmental markets at US green group Environmental Defense Fund’s Global Climate Programme has left the organisation.

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