Carbon Pulse

Nearly 400 million more carbon allowances will be withdrawn from the EU ETS through next summer and inserted into the MSR, the European Commission announced late Wednesday in its annual 'TNAC' update, with the oversupply figure rising slightly year-on-year to top analyst expectations.

German-based utility RWE slowed its hedging rate over Q1 but still has a slightly advanced position compared to a year ago, it said in financial results Wednesday, giving a slightly bearish signal for EUAs.

China has released provincial targets for its mandatory renewable energy credit scheme, which will launch in a test version this year before starting properly in 2020.

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

The influx of speculators into the California Carbon Allowance (CCA) market over the past several months will tighten the amount of available permit supply and raise prices going forward, though little change to the WCI programme’s emissions profile is expected, analysts said Tuesday.

The US Supreme Court refused Monday to hear an appeal from several fossil fuel and business trade groups that challenged that the Oregon Clean Fuels Program (OCFP) illegally regulates interstate commerce, thereby allowing the state’s low-carbon fuel standard to withstand another legal test.

EU carbon allowances are expected to remain volatile for the rest of the year, analysts said, with prices seen ending 2019 within a wide range that is mostly well above current levels.

EUAs surged by more than a euro in the final three hours of trade on Tuesday, reversing the previous day’s rapid afternoon loss as a stronger auction and supportive energy prices muted any selling.

California Carbon Allowances (CCA) are expected to clear underneath secondary market levels at Tuesday's WCI auction despite the recent price surge, as compliance entities seek out discounts at the quarterly sale.

The German government will discuss how, rather than if, the country can achieve a 2050 net zero emissions goal, Chancellor Angela Merkel said on Tuesday.

Australia’s Clean Energy Regulator on Tuesday published CO2 caps for four installations operated by the nation’s biggest cement producer, rejecting the firm's application to withhold the information and revealing that the plants have been granted the right to emit far more than they currently do.

A steady flow of supply from emitters looking to raise cash to pay the NZ$25 fixed price option ahead of this month’s compliance deadline is keeping New Zealand carbon prices in check.

Guangdong carbon allowances inched up 1% in Tuesday trade to stay near 4-year highs, as emerging power sector demand adds to speculation-driven trade in China’s biggest emissions market.

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

Alberta compliance offset traders and developers are taking a wait-and-see approach to making long-term investments as they await more details on how the new UCP government intends to overhaul the Canadian province’s large emitter programme.

Last week, Brazil’s top security adviser said that the Amazon forest was his country’s to exploit, regardless of the impact on greenhouse gas emissions. “I don’t accept this idea that the Amazon is world heritage, this is nonsense,” General Augusto Heleno Pereira said. “The Amazon is Brazilian, the heritage of Brazil and should be dealt with by Brazil for the benefit of Brazil.”

Carbon Tracker Initiative is an independent financial think tank that carries out in-depth analysis on the impact of the energy transition on capital markets and the potential investment in high-cost, carbon-intensive fossil fuels.

The successful Analyst applicant will undertake robust analysis that draws on methodologies from a range of disciplines including public policy, finance and economics.

Taxing aviation fuel in the EU would cut the sector’s emissions by 11% while having only a “negligible” impact on GDP and jobs, according to a European Commission report leaked on Monday.

Organization (Name/Acronym/Homepage): First Climate Markets AG Position (Title/Department/Project): Sales Manager (m/f/x) Climate Neutral, Green Energy