Carbon Pulse

Oregon Democrats do not have the votes to pass the cap-and-trade bill at the center of a Republican walkout, the Senate President said Tuesday.

The UN produced a new draft text on rules covering international emissions trade on Tuesday, after governments broke a deadlock that some observers said raises the prospects for a deal later this year on the Paris Agreement’s divisive Article 6.

**Following some reader suggestions, we’re trialling a new brief midday EU ETS market report.**

Tuesday's EU Common Auction Platform (CAP) auction was cancelled because the clearing price was significantly below the secondary market, sale host EEX said.

Australian Energy Minister Angus Taylor has warned state governments about setting more ambitious emission reductions than the federal Coalition, arguing this would be inappropriate and likely to push up power prices.

New Zealand carbon allowances climbed back up to NZ$23 ($15.28) as some buyers stepped in to take advantage of what they considered attractive levels.

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

Prices for biofuel credits (RINs) under the Renewable Fuel Standard (RFS) have climbed in recent days after a news outlet reported President Trump ordered a review of the EPA’s compliance waiver programme for refiners.

New speculators trimmed some length off their California Carbon Allowance (CCA) holdings over the past week, but the group’s large position remained relatively unchanged despite significant price decreases in the WCI cap-and-trade market, according to US Commodity Futures Trading Commission (CFTC) data.

California Low Carbon Fuel Standard (LCFS) prices have continued their steady increase over the month of June as compliance buying has persisted, but some participants have questioned how much further the bull run will last.

**Following some reader suggestions, we’re trialling a new brief midday EU ETS market report.**

Organisers of the 2022 Winter Olympics in Beijing have released a plan to minimise the event's greenhouse gas footprint, including a goal to buy or ensure donations of local carbon offsets and ETS allowances to make up for any emissions that can’t be avoided.

Spot emissions exchange operator CBL Markets will merge with commodity data firm Xpansiv, the companies announced on Monday.

New Zealand Climate Change Minister James Shaw has said he is “not keen” to shift the emissions trading scheme’s de facto price cap level up from the current NZ$25 level until the full market reform package is ready, the clearest indicator yet the cap will stay where it is and weigh further on NZUs.

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

California and Quebec will offer more than 66 million current vintage allowances in each of the next two quarterly sales, with the August volume roughly identical to the May auction supply, according to regulator data released Friday.

Oregon Democrats will not be entertaining any amendments to their cap-and-trade bill after Republican senators decided to walk out in protest over over the proposal, a state senator told Carbon Pulse.

Power plants linked to industrial sites should only be awarded free EUAs if the resulting heat is used in district heating or high efficiency co-generation, an EU court found this week, upholding a previous opinion in a move that could trim the allowance allocations of companies across the bloc EU next year.

The Netherlands won’t wait for the EU’s protracted lawmaking process to launch an aviation carbon tax and expects several fellow member states to follow or extend their own initiatives.

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