Carbon Pulse

China’s National Development and Reform Commission (NDRC) has distributed provincial-level renewable energy targets for 2020, pushing a slight increase in wind and solar this year as the nation prepares the launch of its mandatory market for renewable energy credits.

The Tianjin municipal government will auction off 2 million carbon permits under its pilot emissions trading scheme on June 10 to help firms meet 2019 compliance, with prices likely to come in well below current secondary market levels due to how the price floor is calculated.

Australian project developer Country Carbon has agreed to having its business practices strictly monitored by the government for a two-year period to address ‘compliance issues’ with regulations under the nation’s carbon offset market.

China has given provincial and regional authorities an additional two months to submit lists of companies in their jurisdictions that will be included in the national emissions trading scheme and their 2019 CO2 emissions data, extending the deadline to July 31 as the COVID-19 outbreak has made it difficult to stick to the original timetable.

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

WCI compliance entities built their California Carbon Allowance (CCA) holdings on the secondary market as they awaited Q2 auction results, while speculators’ net long position remained roughly unchanged, according to US Commodity Futures Trading Commission (CFTC) data.

Eastern European nation Moldova has this week been handed a plan to establish carbon market regulations within two years as part of efforts to ramp up climate action among the EU’s southeastern neighbours.

EUAs inched higher on Friday to end the week flat as bullish technicals continued to overshadow dips in the energy complex and wider fundamental weakness.

California lawmakers will advance language to a joint legislative discussion that would require regulator ARB to conduct an ETS rulemaking, though the provision's ultimate inclusion in the state budget is not a foregone conclusion, a senator's aide told Carbon Pulse on Friday.

The US Department of Justice (DOJ) urged a federal judge on Friday to reject a request that would push back a hearing for the government’s constitutional challenge over the California-Quebec carbon market linkage, saying the state had created the time conflict it is now seeking to remedy.

A European Parliament initiative to fast-track shipping into the EU ETS faces being blown off course after an influential committee rejected the idea this week.

A third-party submission to qualify RGGI ETS allowances and offsets for eligibility in the global aviation scheme CORSIA was not sanctioned by the Northeast US cap-and-trade programme and runs counter to existing regulations, the market administrator has told Carbon Pulse.

The Program Officer is a technical role within the American Carbon Registry (ACR), contributing to all aspects of ACR services, including, but not limited to ensuring the highest level of quality for all ACR-registered projects and related offset credits issued by ACR.

Closing prices, ranges and volumes for China's regional pilot carbon markets this week.

Australia’s Clean Energy Regulator issued just over 550,000 new carbon credits and registered 10 new offset projects this week, while researchers identified offset generating potential in a blue carbon site. 

Chinese companies will no longer be allowed to use the green bond market to finance efficient coal power plants, according to a proposal published Friday by the central bank, but the bonds can be used to back service providers for carbon credit and renewable energy credit trading.

Australia is in the process of reforming its carbon market, but the government will not put in place new policies to drive private-sector demand, hoping instead for an increase in voluntary buy interest, Energy and Emission Reduction Minister Angus Taylor said Friday.

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

Denmark will not consider raising its domestic carbon tax until this autumn at the earliest due to the current economic uncertainty from the coronavirus outbreak, the country's climate minister said.

The California-Quebec Q2 auction failed to sell out for the first time in over three years as entities purchased roughly 21 million current vintage allowances at the joint sale, according to results released Thursday afternoon.