Carbon Pulse

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

The British Columbia government on Wednesday announced a new interim emissions reduction target for 2025 to help the province reach its medium- and long-term climate goals, although an accompanying report shows more work to be done to hit the 2030 target.

The correlation between EU carbon and coal prices has strengthened in recent days as both have rallied on a mix of higher demand and constrained supply.

An NGO proposal to replace international offsetting with climate finance in order to avoid double claiming has been met with resistance from some in the voluntary carbon market, who fear a lack of corporate interest.

US biofuel credit (RIN) values edged toward a new 2020 high on Wednesday as the EPA prepares to publish next year’s long-delayed Renewable Fuel Standard (RFS) quotas by the end of the month.

Commodity price reporting agency S&P Global Platts on Wednesday announced it will begin assessing prices for carbon credits approved for use in ICAO’s global aviation offset system CORSIA, as interest in the voluntary market grows.

EUAs extended their record high for a fourth straight day on Wednesday amid buoyant financial markets, bullish technicals, and data showing record investor interest, before profit-taking pulled prices back.

Washington Governor Jay Inslee (D) on Tuesday outlined his climate policy package for the 2021-23 legislative session, teaming up with Democratic lawmakers to pursue emissions trading and low-carbon fuel standard (LCFS) proposals that have repeatedly fallen short in the state in recent years.

Taiwan should introduce an economy-wide carbon tax of around $10/tCO2e that could transition to an emissions trading scheme over time, according to a report commissioned by the Taiwan EPA, just before the agency is expected to publish a proposal to adjust the country's 2015 GHG Reduction Act.

Oil major BP has acquired a majority stake in carbon offset developer Finite Carbon, deepening its interest in the forestry-focused company and targeting a major expansion internationally.

A veteran emissions trader has left one of the biggest emitters participating in New Zealand’s carbon market.

Japan should aim for getting more than 40% of its energy from renewable sources by 2030, around double the current government target, according to Environment Minister Shinjiro Koizumi, who is also backing a domestic price on carbon.

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

A Virginia court will hold a hearing early next year over a lawsuit filed by an industrial group that challenges the legality of the state’s RGGI-modelled carbon market regulation, court records show.

EUAs stretched their record high for the third successive session on Tuesday, as streaking energy prices added to bullish sentiment from a prolonged auction pause.

A UK-based low-carbon project developer has appointed a former Shell executive to lead its offering on nature-based activities, aiming to respond to heightened corporate offset demand from the sector.

The Transportation & Climate Initiative (TCI) will release a finalised Memorandum of Understanding (MOU) next week, with the framework expected to outline the long-term climate goal for the proposed fuel sector cap-and-trade scheme, two regulatory sources told Carbon Pulse. 

The US Congress will include bipartisan energy-related proposals to reduce potent HFC gases and incentivise research and deployment of energy efficiency and CCUS in a $1.4 trillion government funding package set for release as early as Tuesday, according to numerous media reports.

A Virginia generator opened a RGGI account this week ahead of the state’s entrance in the Northeast US emissions trading scheme next month, joining at least two other entities from the jurisdiction.

The EU will not rush to introduce a carbon removals certification system because it wants to minimise the potential for errors, a senior European Commission official said Tuesday.