Carbon Pulse

The Saskatchewan Court of Appeals ruled Friday that Ottawa has the authority to impose its ‘backstop’ CO2 tax and output-based pricing system (OBPS) on the province, upholding the legality of the Canadian federal government’s landmark climate policy.

RGGI allowance (RGA) prices dropped in early trading on Friday as market participants reacted to Virginia Governor Ralph Northam (D) decision to sign a budget proposal that bars the state’s participation in the northeast US carbon market.

Washington state Governor Jay Inslee (D) unveiled the first major climate policy announcement of his campaign for the US presidency on Friday, building on emissions reduction strategies that he pushed to varying levels of success during his state’s 2019 legislative session.

A summary of legislative and regulatory action on carbon pricing and clean energy at the US subnational level taken this week, including Maine’s governor unveiling a 100% clean energy bill, movement on New Hampshire’s legislative proposal to adopt the post-2020 RGGI Model Rule, the passage of new GHG reduction targets in Colorado, and the California state assembly signing off on an offset bill.

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

New Zealand carbon allowances fell to 7-week lows in Friday trade as emitters were seen selling off permits to raise cash to pay the NZ$25/tonne fixed price option.

Analysts have raised their near-term EU carbon price forecasts as a result of the Brexit delay and as new EUA supply will be more spread out than previously thought.

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

The UK is furthering plans to develop its own post-Brexit ETS, publishing a consultation paper late Thursday that sought views on a proposed design that closely aligns with the EU scheme apart from an auction reserve price and looser measures for airlines.

California Carbon Allowance (CCA) prices continued their months-long bull run this week as they eclipsed the $18 mark on the benchmark contract, while RGGI allowances (RGAs) remained stagnant amid limited secondary market activity.

Virginia Governor Ralph Northam (D) on Thursday refused to veto Republican-inserted language in the state’s 2019 budget that would prevent the state from joining the RGGI carbon market next year and the future Transportation and Climate Initiative (TCI) programme, but directed staff to explore ways to implement the state’s power sector ETS independently.

EUAs continued the week’s downward path on Thursday, breaking several technical support levels as traders saw little reason for buyers to emerge after the annual compliance deadline and amid bearish signals from the energy complex.

Just over 220 installations and airlines operating have failed to meet their obligations under the EU ETS in 2018, according to data published by the European Commission on Thursday, showing that the non-compliance rate has dropped under 2%.

Two offset project developers from the US and Canada have started a new joint venture to develop and sell voluntary credits from grasslands conservation, with the possibility of exploring other project types and entering compliance carbon markets.

A row over how much it would cost to increase Australia’s emissions ambition and the impact of using international offsets dominates the country's newspaper headlines ahead of the May 18 election, as the nation’s decade-old climate wars show no sign of receding.

The UK should adopt a 2050 net zero greenhouse gas emissions target and meet it without resorting to buying any international credits, the government’s independent expert body said on Wednesday.

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

The French government has put before its parliament a plan to achieve net zero GHG emissions by 2050 and launched a citizen-led process on Wednesday that aims to decide many of the steps needed to reach the goal.

EUAs slipped below €26 on Wednesday as gas prices weakened and trade thinned due to a public holiday across much of the bloc.

A New York power plant is facing penalties from the state’s Department of Environmental Conservation (DEC) for failing to comply under RGGI, but the facility may be exempt from future obligations, a state official told Carbon Pulse.