Carbon Pulse

A group of Japanese companies have scrapped plans to build a coal-fired power plant that would have emitted some 12 million tonnes of CO2 annually, and are considering constructing a gas-fired plant in the same location.

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The US EPA will incorporate many of the recommendations from the government’s trading regulatory body on reforming the biofuels credit market under the federal Renewable Fuels Standard (RFS), according to the environmental agency’s acting chief.  

Pennsylvania’s Environmental Quality Board (EQB) will discuss a green group's petition next month for the state to install an economy-wide cap-and-trade programme.

European carbon prices sank back toward €23 on Wednesday in cautious trade that saw sentiment weighed down by a weak clearance in today’s large auction.

The $300 million Land Degradation Neutrality (LDN) Fund has invested $12 mln in a carbon credit-generating agroforestry project in Peru as its first investment towards restoring degraded land worldwide.

The New Hampshire legislature is considering a carbon tax proposal that could potentially work around the northeast US state’s refusal to join a regional transportation sector carbon programme.

Japan’s environment ministry has agreed to fund another six projects under its Joint Crediting Mechanism (JCM) that are expected to generate more than a million carbon credits by 2030.

Stationary emissions regulated under the EU ETS fell by 3.1% in 2018 as new renewables capacity displaced coal, resuming a downward trend since 2010 that was interrupted in 2017, a report found on Wednesday.

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New Mexico Governor Michelle Lujan Grisham (D) signed a climate-based executive order on Tuesday committing the southwestern US state to cut emissions and uphold the goals of the Paris Agreement via a market-based mechanism and other clean energy measures.

More lenient standards for coal plants and other industries, along with a lower number of overall participants, will see the forecast compliance unit deficit for large Canadian emitters regulated by the federal Output-Based Pricing System (OBPS) nearly halved this year, according to new analysis released Tuesday.

European carbon prices climbed back above €23 on Tuesday, clawing back some of Monday’s heavy losses as the energy complex reversed its early declines.

California utility Pacific Gas & Electric (PG&E) filed for bankruptcy protection on Tuesday amid mounting liabilities from wildfires over the past two years.

NZUs have barely budged over the past week amid firm demand, making the NZ$25 fixed price option an increasingly tempting way for emitters to meet their 2018 obligations.

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

Numerous environmental groups urged New Jersey to adopt a more stringent RGGI cap at its first stakeholder meeting on Friday in order to further strengthen the environmental performance of the regional carbon programme.

Hawaii state legislators put forth two different carbon tax proposals last week, with one seeking to swap out the state’s fuel tax and the other allocating a portion of the revenue to taxpayers.

The possible bankruptcy of California utility Pacific Gas & Electric (PG&E) could prompt future changes to the state's cap-and-trade regulations depending on the outcome of Chapter 11 proceedings, but the company can't immediately unwind any renewable energy contracts without federal approval.

California carbon market participants need additional counterparties who can hold volume for future use amid the rising WCI allowance surplus and tightening holding limits, numerous sources said.