Carbon Pulse

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

Australia’s Clean Energy Regulator this week distributed over 1.1 million carbon credits as developers continued to seek issuances ahead of the June 30 financial year end.

Two “silent catalysts” will push European carbon prices higher in the coming months, analysts predict, calling the market’s current focus on Brexit and gas prices “short-sighted”.

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

Four California assemblymembers asked state regulator ARB this week to adopt the Tropical Forest Standard (TFS) for international sector-based offset programmes despite ongoing disagreement and environmental justice opposition to the proposal.

California Carbon Allowance (CCA) prices dropped significantly on the secondary market this week as aggressive sellers caused the first major retracement since this spring’s bull run began, while RGGI allowances (RGA) dipped slightly amid New Jersey finalising its regulations to join the nine-state ETS.

The New York legislature late Wednesday passed an omnibus climate bill that will see the Empire State make deep emission cuts through 2050 with the possible use of some in-state offsets, though environmental justice groups lamented compromises made regarding the allocation of green project revenues.

EU leaders failed to agree on setting a 2050 date for the bloc to reach net zero emissions late Thursday, as talks broke with four nations holding out.

Oregon Senate Republicans fled the state on Thursday in protest of a scheduled final vote of a WCI-modelled cap-and-trade bill, leaving Democrats without a quorum to conduct any business in the interim.

The Netherlands formally launched a bid for an EU-wide carbon tax on aviation on Thursday, stressing that it would take unilateral measures if the effort failed.

Ontario Premier Doug Ford has appointed a new environment minister to replace Rod Phillips, who was shifted to the finance file in a major cabinet reshuffle on Thursday.

A former senior Chinese government official has rubbished claims from the power sector that the country must build more coal-fired power plants to avoid power shortages.

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

Australian Energy Minister Angus Taylor's claim that Australia should be credited for emission cuts caused by its natural gas exports does not hold up against scrutiny, argues this op-ed by Frank Jotzo and Salim Mazouz of the Australian National University.

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

Poll-leading Canadian Conservative Party leader Andrew Scheer said Wednesday that he would eliminate the ruling Liberals’ ‘backstop’ carbon tax and alter its output-based pricing system (OBPS) if elected as prime minister this fall, while potentially exploring the use of low-carbon exports to claim emission reductions towards the country’s Paris Agreement GHG target.

The successful applicant will manage key projects and related teams in CPI’s Climate Finance Tracking workstream, and develop new analytical approaches and products to continue to build CPI’s reputation for impactful analysis on the state of global climate finance and support to key stakeholders.

Oregon’s WCI-modelled cap-and-trade bill is expected to face a Senate vote later this week, despite Republicans threatening to explore various options to halt the proposal.

California’s fuel consumption continued to fall below prior years early in 2019, while greater hydro generation is also reducing ETS-covered emissions from the state’s electric grid, according to government data.

US-based fund Climate Trust Capital (CTC) is beginning to sell California Carbon Offsets (CCOs) generated through its first round of project investments, and it is targeting the launch of a second fund by early next year.