Carbon Pulse

Rhode Island has awarded a $250,000 contract to a consultancy to perform a statewide study to determine ways to reduce carbon emissions in line with previously approved GHG targets, a regulatory source said.

European carbon prices edged higher early on Friday as investors lowered their expectations of a no-deal Brexit, with EUAs poised to end the week some 5% higher on a bullish energy complex.

Advisors to the Dutch Supreme Court on Friday recommended that a judicial ruling ordering the country’s government to set a deeper emissions reduction target be upheld, in a move that could help establish a global precedent in forcing states to act to prevent climate change.

Closing prices, ranges and volumes for China's regional pilot carbon markets this week.

New Zealand carbon allowances recorded a sixth consecutive session of minor losses on Friday, with buyers taking their feet off the pedal after prices rose back above the NZ$25 fixed price option level last week.

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The US Bureau of Labor Statistics reported Thursday that year-on-year inflation skewed lower in August, setting up a potential 2020 WCI carbon floor price of $16.67.

RGGI allowance (RGA) prices will increase ahead of and during the post-2020 phase as a result of higher hedging activity from new and existing compliance entities, but the programme will not see a fundamental deficit over that period, analytics firm ICIS said Thursday.

Germany’s ruling CDU/CSU parties will next week propose a comprehensive national climate package centred around an emissions trading scheme for transportation and buildings, which recycles revenue back to consumers and companies and features allowance price controls.

California Carbon Allowance (CCA) prices hit a five-month low amid increased spread trading as RGGI allowance (RGA) flat lined on the secondary market following the Q3 auction.

Switzerland’s carbon credit procurement agency Klik aims to select 20 GHG-reducing activities by the middle of next year, with three confirmed Paris Agreement emission trade initiatives serving as insight into what the country is seeking. 

The EU risks backsliding on its climate commitments by not defending its right to include flights in its ETS, a senior lawmaker said Thursday, amid signs that several member states oppose speaking up at the UN on the issue.

Pennsylvania’s Department of Environmental Protection (DEP) intends for outside modelling for an economy-wide carbon market to be completed by the first quarter of 2020, a source told Carbon Pulse.

European carbon prices rose by almost 2% on Thursday, aided by firmer energy prices and a bullish auction result.

Australia’s Clean Energy Regulator issued fewer than 60,000 carbon credits this week, but delivery to the government’s Emissions Reduction Fund has picked up pace in recent weeks.

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Market participants do not see any near-term implications from PG&E's proposed restructuring plan, but the embattled utility could create bullish pressure for CCAs once it exits bankruptcy in mid-2020.

Switzerland and the EU remain on track to implement their ETS linking agreement in early 2020, though there may be a delay in the actual physical connection between the carbon markets, sources said.

California has awarded nearly 1 million new offset credits across two protocols in its latest issuance round, while the regulator minted fewer credits with reduced invalidation risk, according to data released Wednesday.

EUAs hit a four-week high above €27 early on Wednesday but dropped back amid a weaker energy complex, giving back some of Tuesday's huge gains.