Carbon Pulse

Major EU airlines have reported shrinking revenues for Q1 2020 as coronavirus containment efforts ground flights and passengers, with results expected to worsen for the next two quarters as bosses predict the carriers will take several years to recover.

EUAs lifted slightly above €19 early on Thursday as auction demand stabilised and Chinese economic data brightened wider market gloom stemming from coronavirus impacts.

German utility Uniper eased its forward power hedging over Q1 following a ramp-up in the prior quarter, though its power sales revenue dropped considerably, it said in its financial results.

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The Operations Analyst will support critical services to identify, assess, account and report climate related components and impacts of IFC's investment, advisory and green bond issuance activities. The Operations Analyst will also support the development of novel methodologies and products to scale up IFC climate investments and green finance activity in emerging markets.

Prices for EU Aviation Allowances (EUAA) have collapsed in the past few days as experts see zero demand in the coming months from the sector, which has been ravaged by the coronavirus pandemic.

COVID-19 impacts will weigh on EU ETS carbon prices into next year but not on EU lawmakers’ resolve to reform the market or wider climate policies, a survey published on Wednesday found.

Italian utility Enel advanced its EU power hedging during Q1, resulting in a more heavily hedged position as its coal exit accelerated and it sidestepped major financial impacts from the coronavirus pandemic.

The Oregon Clean Fuels Program (OCFP) saw its credit surplus nearly halve in Q4 compared to the previous three-month period, though the addition of residential electric vehicle credits for the 2019 calendar year helped build the bank further, data showed Wednesday.

The physical link between Switzerland’s carbon market and the EU ETS has been delayed further due to the coronavirus crisis, the European Commission announced late Wednesday.

The European Commission will on Friday publish figures determining how many EU ETS carbon allowances will be removed from the market over the 12 months from September, with this year's calculation release date coming a week earlier than normal.

Robust California hydroelectric generation last year displaced carbon-emitting sources and mitigated lower nuclear output, likely reducing compliance obligations for the power sector in the WCI-linked ETS, according to preliminary California Energy Commission (CEC) data released Tuesday.

The Czech senate has passed a resolution demanding the country’s government re-negotiate the country's obligation under the EU ETS, citing an increased burden on the district heating system.

California Low Carbon Fuel Standard (LCFS) credit prices climbed to a one-month high on Tuesday, erasing all losses after state regulator ARB posted higher-than-expected credit generation figures for Q4 2019.

EUAs hung around €19 on Wednesday as the market absorbed a bumper Polish auction far more comfortably than a smaller sale the previous day, as fresh data showed an increase in speculative short positions.

Carbon pricing and the legislation governing it are “essential policy tools” to tackle climate change and governments must stand firm against voices demanding their weakening, a coalition of 40 businesses, financial institutions, and non-profits wrote in a report published on Tuesday.

The UK should consider expanding carbon pricing among its post-pandemic recovery measures, the government’s climate advisors said on Wednesday, adding that current low oil prices provide an opportunity to raise carbon taxes.

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South Korea’s carbon price is finally showing signs of reacting to the COVID-19 crisis, slipping steadily in recent days amid growing pre-compliance trading activity after weeks of stable prices.

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