Carbon Pulse

Carbon credit issuance in Australia picked up this week after a slow period as the Clean Energy Regulator handed out well over half a million offsets.

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

A Canadian carbon capture firm has completed its latest funding round that will allow it to build its first commercial scale direct air capture (DAC) facility, potentially leading to deployment of the technology that could remove greenhouse gases at a lower cost.

BP and Phillips 66 offered competing opinions Thursday on a Washington state bill to implement a WCI-modelled cap-and-trade programme by 2021, months after both companies spent millions to defeat a voter-led $15 carbon tax proposal.

EU carbon prices dropped below €21 on Thursday as gas prices resumed their downward slide and the bloc’s leaders met in an attempt to stave off the prospects of a no-deal Brexit.

RGGI allowance (RGA) prices jumped significantly this week after the March auction results surprised market participants and prompted aggressive buying, while California Carbon Allowance (CCA) prices continue their surprising increase in early 2019.

The UK government has imposed fines totalling nearly £900,000 on more than 40 entities for EU ETS non-compliance in the latest round of climate-related penalties.

Czechia-based utility CEZ was lagging behind its historical hedging rates by the end of Feb, it said in financial results this week, potentially pointing to an uptick in its carbon buying for the coming months.

US Representative Paul Tonko (D) unveiled a set of nine principles for climate action on Thursday, aiming to shore up lawmaker and stakeholder support in pursuit of a comprehensive national plan.

China will publish new green bond standards later this month that will for the first time deem ‘clean coal’ ineligible, Reuters reported Thursday, citing unnamed sources.

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

Nevada state lawmakers introduced a bill this week to raise the state’s Renewable Portfolio Standard (RPS) and achieve 100% carbon-free electricity by 2050, building on increased climate action in the southwest US state over the past year.

EUAs climbed back towards €22 after touching a three-week low on Wednesday, as higher natural gas prices lifted the wider energy complex.

Recent gains in the California Carbon Allowance (CCA) market are leading traders to question whether prices could diverge from historic trends amid an influx of bullish new speculators, with some predicting the rise will be short-lived.

Japan’s most powerful business lobby this week urged the government to prioritise economic growth in the battle against climate change, such as backing exports of efficient coal power technology while steering clear of an explicit price on carbon emissions.

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

Carbon Pulse partner ICAP has published its annual Status Report “Emissions Trading Worldwide”. The 2019 edition provides a comprehensive overview of the latest developments and design elements of all ETS in operation, scheduled and under consideration around the world.

California regulator ARB will hold a public hearing on Apr. 5 to consider possible amendments to the cost containment provisions of the state’s Low Carbon Fuel Standard (LCFS), with the aim of keeping prices below the yearly Credit Clearance Market rate.

Alberta Premier Rachel Notley announced on Tuesday that voters will head to the polls next month for the provincial election that could have major ramifications for the future of the Canadian jurisdiction’s carbon levy and pricing system for large emitters.

EUAs lost further ground on Tuesday, extending their March low amid a bearish energy complex and continued Brexit uncertainty.