Carbon Pulse

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

California Carbon Allowance (CCA) prices this week climbed to their highest level since the COVID-19 pandemic inflicted bearish pressure on the secondary market this spring, while RGGI allowance (RGA) values inched up on thin demand.

Oil majors’ plans to transition their California-based refineries to renewable diesel and other biofuels production are showcasing the impact of the state’s Low Carbon Fuel Standard (LCFS) and anticipated decline in petroleum-based fuel consumption, as momentum builds for a national version of the programme to replace or supplement the Renewable Fuel Standard (RFS).

Finland has confirmed it will end its scheme to compensate heavy industries for indirect EU ETS costs next year, replacing it with support to help the sectors electrify.

European carbon prices retreated by more than 5% on Thursday on what traders said was a 'buy the rumour, sell the fact' response to the European Commission publishing its plan to raise the EU's 2030 emissions reduction target.

Quebec does not intend to complete its cap-and-trade forestry protocol this year after delaying the timeline earlier this summer due to the coronavirus pandemic, a government spokesperson told Carbon Pulse.

The European Commission is considering a one-off emissions cap reduction and a tighter annual linear reduction factor in the EU ETS from 2026 as part of plans to raise the bloc’s 2030 emissions reduction target to “at least 55%”, it said in documents released on Thursday.

South Korean companies will only be allowed to use half the previously expected amount of offsets to help meet their compliance requirements in the emissions trading scheme during the 2021-25 period, according to a proposal by the environment ministry.

Australia on Thursday announced a A$1.9 billion ($1.4 bln) funding package for low-carbon technology development that will divert funds from renewables into hydrogen soil carbon, and carbon capture and storage, while also seeking to boost the domestic offset market.

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

A popular corporate standard for net zero emissions goals has relaxed its previously hard line against the use of carbon credits, in a move that may fuel further growth in the voluntary offset market.

Any allowance supply adjustment to California’s cap-and-trade scheme should be permanent or placed at a higher price tier, while the coronavirus pandemic may necessitate further evaluations of the WCI-linked scheme’s allocation methodologies, the state's carbon market watchdog said Wednesday.

Oregon Democrats will not attempt to pass a WCI-modelled cap-and-trade bill during the 2021 lawmaking session after two consecutive GOP walkouts thwarted action on ETS proposals in the Beaver State, a legislator told Carbon Pulse.

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In the Australian Carbon Projects Development Coordinator role, you will oversee the timely, effective generation and delivery of environmental products such as emission reductions or renewable energy certificates.

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EUA prices could rise as high as €51 by 2030 under the “at least 55%” emissions target to be proposed by the European Commission, as the carbon market cap would tighten considerably, analysts said Wednesday.

Working to the Head of Commonwealth, Regional Engagement and Climate, this role is at the heart of climate policy within our regional team. This role is working within a highly ambitious and active regional climate team and global climate network

A conservation organisation and two US-based offset project developers on Wednesday announced a five-year pilot programme for land trusts to access voluntary carbon markets, with a focus on forestry and grasslands initiatives.

EUAs stayed near €30 for a third straight session on Wednesday, after the European Commission confirmed its proposals for higher EU climate ambition and data showed a record number of investment funds piling into the market.