Carbon Pulse

ICF Next would like to add a Brussels-based Senior Consultant to the Energy and Climate team, specifically to contribute to and help support and manage the rapid growth of its EU policy and sustainable finance practice.

New Zealand would need a number of preconditions met before linking its emissions trading scheme to Australia’s offset market or any other carbon trading system, Climate Change Minister James Shaw said Friday.

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

RGGI Allowances (RGA) dipped slightly on the secondary market this week as traders expressed wariness of future bullish support, while California Carbon Allowances (CCA) began to stagnate ahead of the August WCI auction.

Pennsylvania intends to be an active participant in the 2021 RGGI programme review as it aims to join in 2022, with the Keystone State expected to be a net seller in the power sector ETS, officials said Thursday.

The supply-regulating MSR has so far worked well to stabilise EU carbon prices during the pandemic, a study released this week shows, but the mechanism as it is currently calibrated may prove ineffective in dealing with longer-term demand shocks.

Russia must take steps to clean up its big-emitting industry to avoid falling foul of the EU's proposed carbon border adjustment mechanism (CBAM), a Russian business group has warned.

EUAs hit a two-week high above €27 on Thursday as improved industry data and bullish technical signals encouraged buying, before retracing those gains following a bearish auction and signs that recent market strength may be over-extended.

Maine finalised its post-2020 RGGI regulation on Thursday, leaving New York as the only power sector ETS member state left to advance the revised Model Rule.

Airline Lufthansa has reported a 95% passenger capacity collapse in Q2 amid lockdown restrictions to contain the pandemic, with the company not expecting a full recovery from pre-COVID levels until 2024.

China’s response to the COVID-19 crisis has not been as carbon intensive as some had feared, but the backseat role given to environmental issues is raising concerns over the climate content of the forthcoming 14th five-year plan, according to a study published Thursday.

South Korean companies have cancelled nearly 800,000 UN-issued CERs from projects abroad over the past couple of weeks with a view to having them re-issued as credits eligible in the already over-supplied domestic emissions trading scheme.

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

The physical link between Switzerland’s carbon market and the EU ETS will become operational in late September, the European Commission has announced, though it will initially be comprised of 10 one-day transfer windows scattered through the remainder of this year.

The US Department of Justice (DOJ) is reviewing a federal court ruling last month that found the California-Quebec carbon market linkage did not violate the Constitution, with lawyers anticipating the government will file an appeal in the next month.

California Carbon Offset (CCO) issuances are expected to be slowed by various COVID-19 factors moving forward, with some protocols already experiencing those impacts in extended review timelines, sources said.

The EU is weighing whether to impose quotas on airlines to use a rising proportion of sustainable aviation fuels to power flights, according to a European Commission document released on Wednesday.

Low-cost carrier EasyJet has retired REDD carbon credits to offset 2.2 Mt of CO2 emissions for its current financial year, the company announced in a quarterly trading statement this week.

EUAs reached their highest levels in nearly two weeks on Wednesday, eyeing the €27 mark for a second day after a strong UK auction and as energy markets lifted.

Transport & Environment (T&E) is currently seeking a highly motivated and proactive individual in the area of climate and transport policy. This is a new role based in T&E’s Brussels office.