Carbon Pulse

The cap-and-trade auction floor price in the California-Quebec carbon market will rise to $17.71 in 2021, as the total WCI-linked auction supply will climb by 2%, state regulator ARB confirmed Tuesday.

A UK high court judge on Tuesday ruled that a climate campaigner could sue the government for excluding waste incinerators from greenhouse gas pricing, teeing up a case that could help set a precedent for the EU.

CarbonCure is look for a Director of Carbon Finance who will build out and scale the company's carbon credit program. 

Free allocation of carbon allowances to intra-EU flights should be scrapped and revenues from auctioning them used to support innovation and the deployment of cleaner aviation fuels, said an NGO report released this week.

Germany has awarded payments to close 4.79 GW in hard coal-fired power by Jan. 1, 2021, in the country’s first tender as part of efforts to phase out the carbon-intensive fuel from its energy mix, while Poland’s grid operator also announced coal-fired capacity removals.

Offset standard developer and manager Verra published a consultation on Tuesday for a new carbon unit designed to help nature-based projects access financial flows prior to receiving verified credits.

EU carbon rose on Tuesday to tag €30 for the first time since September, with colder weather, a looming supply drought, and wider market strength continuing to lift EUA prices after a stellar November.

The European Commission has organised an expert workshop on the upcoming Market Stability Reserve (MSR) review, with the online session to be held this Thursday by Vivid Economics.

Gas producer Santos on Tuesday moved forward its net zero emissions target by 10 years to 2040, eyeing the emerging demand for carbon neutral LNG in Asian markets with plans for CCS and offsetting.

The issuance of new carbon credits in Australia over the past week fell to near zero, while generator EnergyAustralia demonstrated the bulk of voluntary demand remains for international units despite the string growth in the domestic offset market.

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

California gasoline and diesel consumption dropped in August as the coronavirus outbreak continues to impact fuel demand across the Golden State, with traders concerned current restrictions may erode future sales and depress WCI allowance prices. 

WCI regulated parties increased their California Carbon Allowance (CCA) length immediately before the release of the Q4 auction results as speculators reduced their position for the second consecutive week, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

EU carbon jumped above €29 to extend their two-month high again on Monday as the energy complex rose on prospects of colder weather, adding to bullish sentiment stemming from an imminent tightening of EUA supply.

The EU should avoid introducing a price floor in its emissions trading system as it would distort and undermine the market while making it difficult to link to others, a group of European energy exchanges has warned.

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The EU is on track to overachieve its 2020 objective to cut emissions 20% below 1990 levels, though progress at national level differs among the 27 states, a European Environmental Agency (EEA) report released on Monday found.

The EU should bring methane emissions from coal mines into the EU ETS from 2030 to curb its negative climate impact, comparable to those of the largest installations covered by bloc's the cap-and-trade system, a report released on Monday said.

New Brunswick is aiming to backdate compliance obligations under its provincial output-based pricing system (OBPS) once it is removed from the Canadian federal government’s ‘backstop’ mechanism, according to regulations posted last week.