Carbon Pulse

A California watchdog group plans to hold a mid-December meeting on its recommendations for the WCI-linked cap-and-trade programme, including possible automatic supply triggers to address growing concerns about the scheme's allowance surplus, regulatory sources told Carbon Pulse.

The EU’s failure to conclude negotiations on a budget and stimulus package this week could derail efforts to agree an increase the bloc’s 2030 emissions target by year-end, though experts say that lawmakers increasingly linking the two issues could smoothen their passage.

An allowance price cap in the proposed Transportation and Climate Initiative (TCI) carbon market may restrain member jurisdictions from reaching the regional US programme’s overarching GHG reduction goal, according to a study published Thursday.

China's environment ministry has tightened the overall benchmark for large coal-fired power plants in the national emissions trading scheme, but introduced loopholes that cancel out most potential CO2 cuts from the stricter standard, according to an updated draft released Friday evening. 

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

China needs to immediately halt construction of new coal-fired power plants and aim for a 200 yuan ($30) per tonne price of carbon in its emissions trading scheme to get on track to meeting its target of reaching net zero emissions by 2060, according to a report released Friday.

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RGGI Allowance (RGA) prices inched up on the secondary market this week on bullish outlooks for the post-2020 period, while California Carbon Allowance (CCA) values edged down slightly as traders await the results of the Q4 WCI auction.

Countries are progressing on their GHG reduction targets too slowly to reach net zero emissions by mid-century, even as the COVID-19 pandemic may inadvertently put the US on track to meet its previous Paris Agreement goals, according to two reports published Thursday.

EU carbon fell on Thursday on technical selling and profit-taking, as well as worries surrounding weaker fundamentals, policy disputes, and COVID-19, with EUA prices retreating further from a two-month high touched in the previous session.

Canadian Environment Minister Jonathan Wilkinson introduced a long-awaited bill on Thursday to install five-year GHG reduction budgets and a mid-century commitment to net zero emissions, with the forthcoming 2030 target to serve as an update to the country’s Paris Agreement goal.

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The European Commission plans to launch a second call for projects under the Innovation Fund on Dec. 1, with just a tenth of the cash that was made available during the first.

Vietnam’s National Assembly this week passed a revised environmental law, which included provisions to set up a domestic emissions trading market.

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UK utility SSE saw its ETS-covered thermal power output rise 16% over the six months through September as the company’s gas plants were called on more often to balance the grid, the company said on Wednesday.

A federal low-carbon fuel standard (LCFS) is unlikely to materialise unless Democrats can win both Georgia Senate seats up for grabs in a January run-off election, a conference heard Wednesday.

Stakeholders drew competing views of the US Federal Energy Regulatory Commission’s (FERC) proposed policy statement last month on CO2 pricing, with wholesale power grid operators supporting the move and fossil-fuel heavy states encouraging a more cautious path forward.