Carbon Pulse

In a pre-emptive move ahead of a potential ‘no-deal’ Brexit, the European Commission will temporarily suspend the allocation and auctioning of EU Allowances by the UK, as well as the exchange of international credits by the country’s emitters in the bloc’s registry.

Virginia will propose cap-and-trade legislation to raise revenue from auctions as the state aims to join the RGGI programme by 2020, a state official told Carbon Pulse.

An ultra-bullish trader has made a bet that EU carbon prices will top €100 before the end of 2020.

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

The New York Independent System Operator (NYISO) advanced a proposal Monday that would price carbon in its wholesale electricity market, but stakeholders continued to express reservations about how to set the level as the mechanism inched closer to a final vote.

A Massachusetts commission recommended the northeast US adopt a transportation-focused ETS and a clean fuel standard, while New York Governor Andrew Cuomo called Monday for the decarbonisation of his state's electricity sector by 2040.

Switzerland has announced the dates for its next two carbon allowance auctions, which could be the market's final sales before it links with the EU ETS.

The Finance and Administration Officer is expected to drive best practices across all finance and administrative management activities within the organization to maximize efficiency and growth.

The EU and New Zealand have agreed to strengthen their bilateral cooperation on emissions trading, their respective climate bosses announced on Monday.

The Canadian environment ministry will publish new draft regulations on the output-based pricing system (OBPS) for large emitters on Wednesday ahead of the schemes' Jan. 1 start date, according to sources.

New Jersey proposed an 18 million-short ton cap for its re-entry into RGGI in 2020 and will align its regulations with other post-2020 policies in the northeast US ETS, Governor Phil Murphy announced Monday, though some thought the allowance budget was not ambitious enough.

The European Commission on Monday adopted its annual report on the functioning of the EU ETS, which covered the market’s developments in 2017 as well as summarising measures proposed or agreed this year. Here are a few of Carbon Pulse’s main takeaways from the report.

European carbon prices extended their end-of-year rally into a fourth day on Monday, climbing to a fresh three-month high above €24, though some warned the market could be over-extending itself.

A handful of governments and institutions are working to advance international emissions trading activities even as the rules remain unclear as to how those initiatives can be used to help meet the Paris Agreement.

Australia’s Clean Energy Regulator achieved record low volumes in last week’s Emissions Reduction Fund (ERF) auction, the agency said Monday.

Negotiators in Katowice reached agreement on a Paris rulebook late Saturday night, but Article 6 left a gaping hole as a decision on carbon markets was left for next year’s negotiations in Chile.

Governments look set to resume talks next year on a framework for international emissions trade under the Paris Agreement’s Article 6, as negotiators seek to postpone the issue rather than risk collapsing the entire Paris rulebook, numerous sources close to the process told Carbon Pulse in the early hours of Saturday.

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

Numerous delays from ongoing Paris rulebook negotiations have pushed the culmination of the UN climate summit past its scheduled conclusion on Friday, with talks slated to go at least through Saturday morning.

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