Carbon Pulse

Ontario lawyers argued during the second provincial lawsuit against the Canadian federal government’s ‘backstop’ carbon pricing mechanism that Ottawa does not have the authority to impose its CO2 levy and large emitter programme on the jurisdiction.

California Carbon Allowance (CCA) prices declined during the week as many traders were out of the office, while RGGI allowances (RGAs) failed to budge on the secondary market.

EUAs gave back some of the week’s strong gains on Thursday as bulls looked to take pre-long weekend profits after carbon hit an 11-year high this week.

French analysis and consulting firm Enerdata has hired a former Bloomberg New Energy Finance EU power and carbon analyst.

The Carbon Pricing Research Fellow will work with the Cross-sector Climate Action Manager and will perform a variety of tasks including policy research and synthesis, drafting memoranda, development of written and online communication, and briefs, and project coordination.

Poland has increased the amount of free EU carbon permits it is granting to utilities this year, government data shows, reducing the number the country can auction next year.

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

New Zealand’s ETS consultation process has drawn support for allowing ETS companies to buy a limited amount of carbon credits from abroad, but a significant minority wanted restrictions such as having the government make the purchases or banning international units outright.

Australia's big emitters would have to buy carbon credits abroad to the tune of A$25 billion ($18 bln) if the opposition Labor party wins the country's election next month, Finance Minister Mathias Cormann said Thursday.

Australia’s Clean Energy Regulator again issued nearly 400,000 carbon credits this week, nearly twice the long-term average rate, but the influx of new projects has almost ground to a halt amid uncertainty over the domestic offset market’s future.

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

EUAs came within a few cents of breaking last week’s 11-year high near €28 on Wednesday as the lack of an auction and resilient gas prices encouraged both speculative and compliance buyers.

Twenty-three mostly Nordic firms led by Finnish utility Fortum are developing a platform to create and sell GHG removal units on the voluntary carbon market, in an effort to stimulate CO2 removal applications derived from soil and from concrete and wood used in buildings.

Virginia Governor Ralph Northam is likely to veto Republican budget amendments that would prevent the state from joining the RGGI and Transportation and Climate Initiative (TCI) programmes, a regulatory source said.

A record amount of California Low Carbon Fuel Standard (LCFS) futures have already traded on ICE just over halfway through April, marking the second consecutive month to set an all-time high.

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

Alberta's United Conservative Party (UCP) and leader Jason Kenney were elected in a landslide victory in the Canadian province on Tuesday, ending the ruling NDP's two-year old carbon pricing programme and setting up multiple battles with the federal government over the party's pledged climate policy rollbacks.

Nova Scotia allocated its first cap-and-trade permits on Monday following the start of its ETS on Jan. 1, though several design elements of the Canadian province’s programme are still to be determined over the coming year.

Canada’s economy-wide emissions rose in 2017 on the back of higher output in Alberta’s oil and gas sector, leading the country further away from hitting its GHG target under the UN Paris Agreement, according to government data released Monday.

US tech giant Microsoft announced Tuesday that it will nearly double its internal carbon price to further its GHG reduction goals, while also joining a Republican-backed organisation advocating for a nationwide CO2 tax.