Carbon Pulse

We are now in the last four weeks of the Dec-20 EUAs' reign as the front-year futures contract. There are fewer than 25 daily auctions left this year, and yesterday (Nov. 17) we were told that the European Commission won’t be starting 2021 EUA auctions until the end of January or even early February.

EUAs leapt more than 5% to a two-month high on Wednesday on news that the start of the 2021 auctions would be delayed.

Switzerland has agreed a bilateral deal with Ghana to purchase carbon offsets under the Paris Agreement’s Article 6, in the second such agreement announced by the European nation in as many months.

The EU is not planning to include carbon removals certificates in the EU ETS, a European Commission senior official clarified on Wednesday as its climate department works on designing its first system to certify removals.

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

Washington state Democrats are optimistic that reintroduced low-carbon fuel standard (LCFS) and cap-and-trade bills could pass in the 2021 legislative session, while a New York environmental advocate believes the state could implement a clean fuels programme as early as 2022.

The anticipated growth in electric vehicle deployment over the coming decades may eventually require California to drop the credit generator from the state’s Low Carbon Fuel Standard (LCFS), a board member of regulator ARB said Tuesday.

British Prime Minister Boris Johnson on Tuesday unveiled a 10-point plan to mobilise tens of billions of pounds in public- and private-sector investment and spark a “green industrial revolution” in the country.

EU carbon prices will continue on their upward trajectory through the end of the year, despite the ongoing pandemic and economy downturn, before EUAs average above €35 in 2021, analysts forecast on Tuesday.

The California-Quebec carbon market will experience further GHG abatement in 2020 due to a slower recovery in gasoline and electricity demand than previously expected and more efficient gas plants running in the Golden State, analysts said in a report published Tuesday.

European carbon sank on Tuesday on profit-taking and policy and coronavirus concerns, as a late decline saw prices give back all of the previous day’s gains, though traders said EUAs could spike tomorrow on late-breaking bullish supply-related news.

A clerical error caused a Virginia business group to fail to pay the appropriate filing fee on a lawsuit challenging the state’s RGGI-modelled carbon market regulation, but the mistake should not void the case, according to court records.

Nations agreed a global maritime deal at the UN’s IMO on Tuesday that would allow the sector’s emissions to rise for another decade, a move that could strengthen the EU’s resolve to take tougher action in its own waters.

Reaching Paris Agreement commitments could be complemented with a rising carbon price floor at a global level, the International Monetary Fund (IMF) said on Tuesday.

The start of carbon allowance auctions in Phase 4 of the EU ETS (2021-30) will be delayed due to technical reasons, the European Commission announced late Tuesday.

An agreement between EU member states on a tougher 2030 climate target could be delayed until next year if governments are not able to iron out their differences on the bloc’s long-term budget, analysts said Tuesday.

The EU ETS will be an important source of financing for the 27-nation bloc’s energy transition, but it cannot alone bridge the ‘financing gap’ needed to bring poorer member states on board with an enhanced 2030 emission goal, a senior European Commission official said on Tuesday.

India’s biggest carbon and renewable energy credit trading company is preparing to list on the BSE bourse in Mumbai in a bid to raise funds that will allow it to expand its activities.

New Zealand emissions allowances rose to new record highs yet again in Tuesday trade as available supply remains thin and traders prepare for life without the fixed price option (FPO).

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