Carbon Pulse

China’s Tianjin has set the price floor at the market’s annual CO2 allowance auction on Wednesday, offering emitters and investors a shot at securing permits as much as 25% below current secondary market value.

EU nations on Tuesday decided to back a plan to modify the emissions baseline for the UN’s CORSIA international flight offsetting mechanism, teeing up a global decision this month that is expected to eliminate airlines’ carbon credit demand until the mid-2020s.

New Zealand carbon allowances traded up to an all-time high of NZ$30.75 ($20.13) on Tuesday, smashing the previous record as the market continued to move north on the back of last week’s government announcement on adjusting the fixed price option level.

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

Energy sector companies and trade associations from eight mostly Eastern EU nations warn that adopting a tougher 2030 bloc-wide emissions target could triple carbon prices, and as a result are seeking more compensation to help them cope as Europe’s top polluting plant heads for closure.

California electricity sector emissions collapsed to a new monthly low in April as a result of the statewide ‘shelter-in-place’ order that caused businesses, industrial sites, and schools to close to stem the spread of the coronavirus, data from the state's main power grid showed.

The European Central Bank (ECB) will continue to purchase green bonds and maintain the euro as the main currency for sustainable assets, but bank President Christine Lagarde requested on Monday for EU nations to scale up their ambitions for a more robust green finance regulation.

WRI’s Carbon Management Team is an interdisciplinary and cross-programmatic team that works to scale up U.S. investment in carbon removal—including terrestrial carbon capture (e.g., tree restoration and agricultural soil carbon management), technological carbon removal (e.g., direct air capture and carbon mineralization), and emerging ocean-based carbon removal approaches.

RGGI allowance (RGA) prices rose Monday after the June auction settled at a discount to the secondary market, with traders seeing near-term fundamentals and the entrance of a Virginia-based utility in the quarterly sale as bullish drivers for the Northeast US power sector ETS.

US biofuel credits under the Renewable Fuel Standard (RFS) over the past week receded from highs not seen since Mar. 2018 on heightened activity in the physical biofuels market, but prices appeared to stabilise on Monday.

EUAs slipped back below €23 early on Monday, retreating soon after extending last week's three-month high as weak economy data and this week's higher auction supply weighed.

The massive economic upheaval of the coronavirus pandemic has paused the surge in voluntary carbon trade, but companies' vastly differing fortunes and supply cut-offs are likely to prevent carbon credit prices plunging this year.

Project proponents have delivered another 635,000 carbon offsets to Australia’s Emissions Reduction Fund (ERF), taking the fund total past 55 million, while the Clean Energy Regulator issued another 270,000 units last week.

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

California regulator ARB opened an investigation on Friday into a Wisconsin-based livestock project for failing to meet regulatory compliance during its fourth reporting period, with nearly all the 15,000 credits under review used last year by an oil major.

A California budget proposal to amend the state's WCI-linked carbon market would likely not make any near-term changes to allowance prices, but is necessary to ensure the scheme helps the state reach its long-term climate goals, a state senator told Carbon Pulse on Friday.

WCI compliance entities cut California Carbon Allowance (CCA) holdings after the Q2 auction, while speculators’ kept their net long position roughly unchanged from the previous week, according to US Commodity Futures Trading Commission (CFTC) data released Friday.

The European Commission has toughened up its requirements to finance emission reduction projects under its yet-to-be-launched Innovation Fund, but some stakeholders pointed out inconsistencies after the EU's executive unveiled the mechanism's funding criteria on Friday.

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The Q2 RGGI auction settled below the secondary market, results published Friday showed, with a subsidiary of Virginia-based Dominion Energy participating in the sale prior to the state’s official entrance in the Northeast US power sector ETS next year.