Carbon Pulse

South Korea has delayed the annual compliance deadline in its emissions trading scheme by two months to allow all market participants to acquire the CO2 allowances they need, with the government opting to allow emitters more time amid a supply squeeze caused by permit hoarding.

Central Labor party officials on Thursday questioned the wisdom of backing market-based approaches to cutting emissions after last weekend’s election defeat, dimming the prospects for an Australian carbon market beyond government-funded offset buying.

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

EUAs climbed by almost a euro on Wednesday to notch a third straight day of gains as next week’s auction dearth continued to lift sentiment while higher gas prices lent support.

California regulator ARB this week awarded some 777,000 California Carbon Offsets (CCOs) across the forestry, ozone-depleting substances, and livestock protocols. 

The May California-Quebec current vintage auction sold out at the highest level in the programme's history, but the price marked a double-digit discount to the secondary market that has been driven by an influx of speculative interest in recent months, according to results released Wednesday.

British Steel has entered compulsory liquidation, putting one of the UK’s biggest emitters at risk of closure and throwing into doubt the government’s ability to recover a £120 million loan given for EU ETS compliance weeks earlier.

The UK should deploy sectoral carbon pricing rising to as high as £160/tonne ($204, €183), including breaking up pricing for EU ETS-covered industries, to meet a net zero 2050 goal, prominent academics said in a report on Wednesday.

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

Environmental organisations are calling on the technical advisor for the CORSIA global aviation offsetting mechanism to disclose more details in the coming weeks about its operating procedure and announce a call for programme applications.

Trade associations representing many EU ETS-covered sectors have shied away from backing a 2050 bloc-wide net zero goal and instead are engaging in subtle lobbying that is increasingly at odds with some of the companies they represent, a report found on Tuesday.

EU carbon prices lifted slightly for a second straight day on Tuesday as the energy complex rebounded, traders eyed a sharp drop in auction supply ahead, and British Prime Minister Theresa May offered MPs a chance to vote on a second Brexit referendum.

Concerns about the validity of California's forestry offset protocol are adding tension between the legislature and regulator ARB, but those worries are not putting the WCI-eligible credits at risk, three sources told Carbon Pulse.

California regulator ARB will not hold the first meeting of its Compliance Offsets Protocol Task Force (OPTF) until several months after it had originally planned, possibly delaying the development of new protocols aimed at providing direct environmental benefits in the state (DEBs) to just before the start of the post-2020 cap-and-trade programme.

China’s Fujian province has distributed a draft 2018 and 2019 allocation plan for its emissions trading scheme for public comment, proposing modest carbon reductions in major industries.

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

The American Carbon Registry’s (ACR) policy director has left his role at the US-based offset registry to take a position at an international carbon consultancy and brokerage firm.

EU carbon prices nudged higher above €25 on Monday as bulls drew encouragement from a stronger auction and a bullish outlook from observers.

A Utah lawsuit challenging both California’s cap-and-trade programme and a bill that sets emission performance standards (EPS) on baseload generation is beginning to take shape after state officials awarded a contract to a law firm late last month, the case's lawyer told Carbon Pulse.

Pennsylvania lawmakers are crafting a bill that would require the state to create an electricity sector carbon market that could link to the northeast US RGGI cap-and-trade programme, while a Keystone State agency is expected to take additional time to study a green group's economy-wide ETS petition.