Carbon Pulse

European carbon prices rallied by nearly 10% on Wednesday ahead of the expiry of hundreds of millions of options contracts after market close.

If we’re to prevent global temperatures from rising to a level more than 1.5ºC (2.7ºF) above pre-industrial levels, we must dramatically improve the way we manage our forests, farms, and fields.

California regulator ARB is expected to approve the cap-and-trade amendments up for discussion at Thursday’s board meeting, with little chance of changing its position on the major elements of the proposal, sources said.

With negotiators struggling to break deadlock over an increasingly complex Paris Agreement rulebook text, the Polish presidency on Wednesday announced it was taking more direct control over the COP24 talks in Katowice.

Five countries have committed to curb N2O emissions nationwide from 2021 in return for Germany buying and cancelling carbon credits from their emission-cutting projects until that year.

Fifteen international organisations and development banks pledged Wednesday to make their operations carbon neutral in part through offsets, but they did not specify a target year or detail any of their potential demand for credits.

The Carbon Tracker Initiative’s managing director and head of research has resigned to take up a position at the asset management arm of French bank BNP Paribas.

California power utilities are poised to emit more CO2 in 2018 as hydroelectric power continues to decline and natural gas-fired generation rises, according to state and federal data.

The launch of Mexico’s pilot carbon market will be postponed for at least a few months after a consultation on the programme was withdrawn, a move that could delay the start of the actual market by upwards of a year, sources told Carbon Pulse.

Government officials are saying little about the possible start date for China’s national emissions trading schemes after two previous delays, but a number of experts familiar with the latest developments say late 2020 remains the likely launch time for the world’s biggest carbon market.

New Zealand on Wednesday announced a series of reforms to its emissions trading scheme that will limit permit supply and likely send prices higher in the future, though near-term impact on the market is expected to be modest.

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

European carbon prices sank back near €20 on Tuesday amid further Brexit-related developments and ahead of tomorrow's EUA options expiry.

Delaware and Rhode Island finalised regulations that would adopt RGGI’s post-2020 changes, and those new regulations will go into effect this month, documents show.

California and Quebec are continuing discussions with New Zealand about potential linkage opportunities after spending more than a year discussing each other’s carbon schemes, according to an ARB official and documents.

California Low Carbon Fuel Standard (LCFS) prices traded at a record $200 on Monday, breaking through a barrier that had proved elusive even as values skyrocketed throughout 2018, market participants said.

Australia is likely to face widespread international disapproval if it goes ahead with a plan identified by observers that involves using more than 300 million surplus units from the Kyoto Protocol era to help meet a massive shortfall in the country's Paris Agreement target.

South Korea is planning a number of amendments to trading rules for its emissions trading scheme in a bid to improve market liquidity and make the programme more effective.

As negotiators at the COP24 Katowice talks are tasked with producing a cleaner version of the Paris Agreement rulebook by Wednesday morning, a clearer picture of the strength of final agreement will soon emerge.

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