Carbon Pulse

US Senator and 2020 Democratic presidential candidate Bernie Sanders unveiled Thursday his wide-ranging environmental plan modelled on the Green New Deal, aiming to decarbonise the country’s energy supply over the next 10 years and ramp up America’s international climate commitments under the UN Paris Agreement and Green Climate Fund (GCF).

California Carbon Allowance (CCA) prices declined this week ahead of the Q3 WCI auction, while RGGI allowances (RGAs) continued their bearish trend to remain at an 11-month low on the secondary market.

European carbon prices hit a fresh six-week low below €26 on Thursday, though prices again rebounded after steady auction demand and signs that Europe's economy could be resilient to wider weakness.

China should allow the use of some CO2 allowances from its regional pilot emissions trading schemes in the national cap-and-trade programme in order to maintain market integrity and avoid a price crash in the pilots, according to a recent study.

New Zealand carbon allowances are holding steady well above NZ$24 after the minor bull run earlier this month amid sound demand, although the contract has some way to go before it is back above the fixed price option level.

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Speculators' RGGI allowance (RGAs) holdings rose during the second quarter of 2019 as trading activity also increased in the Northeast US ETS, according to a new report.

Forty-six companies worth $2.2 trillion have signed up to set tougher climate goals under the Science-Based Targets initiative (SBTi) ahead of an October ratcheting up of ambition.

The Canadian federal Conservatives’ climate plan would take the country even further off its Paris Agreement GHG target by scrapping or altering a variety of CO2 pricing and clean fuel measures and replacing them with negligible or difficult-to-measure initiatives, according to a new policy brief.

New York is expected to finalise draft regulations over the next two months to implement the post-2020 Model Rule for the Northeast US RGGI carbon market, a regulatory source told Carbon Pulse.

EU carbon prices lifted back towards €27 early on Wednesday, as a supply shortfall from the lack of auction helped reverse the previous sessions's late losses.

Asia’s ability to deploy carbon pricing instruments to reduce its greenhouse gas emissions at a lower cost remains hamstrung by regulatory shortcomings and a lack of success in attracting private sector finance, according to an Asian Development Bank think-tank.

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More abundant hydroelectric power generation and stagnant fuel consumption should help depress WCI carbon prices in the near-term, but increased power demand from electric vehicle adoption could take allowance values higher over the next decade, analysts said.

US biofuel credit (RIN) prices surged on Tuesday on news that President Donald Trump may reassess his position on Renewable Fuel Standard (RFS) compliance waivers following a backlash in the Midwest over the administration’s recent issuances.

German airline Lufthansa has begun to offer passengers the option of offsetting any flight emissions with sustainable aviation fuel, despite it costing around 30 times more than traditional carbon-cutting projects.

Implementing a power sector ETS in North Carolina and linking to the Northeast US RGGI programme may not stimulate significant emissions reductions in the state compared to other policy approaches, according to a new government report.

Traders are anticipating another settlement below the secondary market for the quarterly WCI auction, as compliance entities look to take advantage of the programme's recent bearish trend and scoop up allowances at discounted levels.

EU carbon prices extended their rebound into a second day on Tuesday, briefly climbing back above €27 on more bargain-hunting and technical buying and as selling pressures eased.