Carbon Pulse

Next year’s UN climate summit will be held in Glasgow, the UK government announced on Friday, assuming the country wins in its bid to host the annual conference.

The Canadian government may push back releasing a list of provincial offset protocols eligible under the federal ‘backstop’ output-based pricing system (OBPS) due to delays with several jurisdictions, sources told Carbon Pulse.

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

Australia’s carbon credit issuance ballooned this week, with the Clean Energy Regulator handing out over 580,000 offsets and landfill projects claiming the vast majority.

Participants in New Zealand’s emissions trading scheme paid the NZ$25 fixed price option instead of surrendering permits for over half the 32.8 million tonnes CO2e in compliance requirements for 2018, government data showed Friday.

Vietnam is planning to launch a two-year pilot carbon tax for thermal power generation and cement production across four provinces as it steps up market-based efforts to stymie its rapidly rising greenhouse gas emissions.

Korea Midland Power and trading firm Ecoeye have signed a deal with subsidiaries of state-owned oil and gas firm PetroBangla to develop a CDM project that will generate some 1 million carbon credits annually for use in the South Korean emissions trading scheme.

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

Carbon emissions from two of Europe’s biggest low-cost airlines rose considerably in July, putting both on track to record higher CO2 output and face costlier EU ETS bills this year.

The World Bank’s Nitric Acid Climate Auction Program (NACAP) has extended the emission reduction generation period that eligible CER and VER carbon credits can be delivered into the programme.

California Carbon Allowance (CCA) prices dropped on the secondary market this week ahead of the quarterly WCI auction, while RGGI allowances (RGAs) plumbed a five-month low as compliance entities took advantage of the price drop.

The Transportation and Climate Initiative (TCI) jurisdictions in the northeast US and Mid-Atlantic are likely to see tranpsort sector emissions decline from more stringent federal fuel economy standards and greater deployment of electric vehicles, according to initial reference case results.

Paying landowners to protect their land could play a vital role in tackling climate change, though large-scale bioenergy use and storage could worsen the effects without careful management, according to UN-backed scientific panel IPCC in a landmark report.

European carbon continued to show little direction on Thursday, with traders holding prices between €28 and €29.

The British Columbia Assembly should review its C$40 carbon price as part of a comprehensive evaluation of the Canadian province’s taxation system, a legislative committee said on Wednesday.

Germany-based utility Uniper saw its earnings almost halve over H1 as higher CO2 prices increased hedging costs and reduced the operating hours of its big-emitting coal generators.

South Korean CO2 allowances rose to all-time highs in Thursday trade as demand continued to outweigh the slow trickle of supply in a market deemed short overall, forcing emitters to consider borrowing from future allocation.

Energy major Chevron on Thursday announced it has started injecting CO2 underground from its Gorgon LNG plant in Western Australia, nearly three years after the project was meant to commence, likely limiting its demand for carbon credits to offset emissions.

Hainan province in southern China is working with state-owned power companies and others to establish itself as a carbon trading hub, pulling together domestic as well as international carbon traders.

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