Carbon Pulse

New Mexico and Nevada are maintaining schedules to outline potential climate change and CO2 pricing strategies by later this year even as the COVID-19 pandemic presents logistical challenges for the Southwest US states.

Estonia’s finance minister has formally called for his country leave the EU carbon market in order to reduce power prices amid the coronavirus outbreak, though any efforts are likely to be in vain.

The Congressional Research Service (CRS) Resources, Science and Industry Division is seeking an Analyst in Environmental Policy.  The analyst will conduct analyses that inform congressional deliberations on environmental policy and/or science issues related to climate change. 

EU member states’ push for stricter measures for European industry emissions and support for a higher 2030 target will face a big test in the following months as the 27-nation bloc is coping with the COVID-19 coronavirus crisis, a report by Refinitiv released on Wednesday finds. 

Nearly half of the world’s coal power plants will run at a loss this year even as carbon prices have a negligible effect in many countries outside the EU, a report published Wednesday found.

EUAs rose back towards €21 early on Wednesday as the market absorbed bumper supply from two daily auctions and withstood pressure to give back recent gains.

Guangdong province has become the first Chinese region to officially deviate from the central government’s national ETS preparation timetable, though others are expected to follow, sparking fresh concerns over whether the world’s biggest carbon market will be able to launch this year as planned.

South Korea’s monthly auction of CO2 allowances sold out on Wednesday, fetching the highest price since the regular sales started last year.

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

The US Transportation and Climate Initiative (TCI) should include a supply-curbing mechanism in its final cap-and-trade design to ensure reliable revenues to invest in fuel sector CO2 abatement, according to a think-tank report released Tuesday.

Northeast power consumption declines due to the COVID-19 are increasing, while California fuel use appears set to dip based on initial state and national data points.

EU carbon prices will resume their downtrend to average €11 this quarter amid an ongoing reduction in power demand and a big fall in the bloc’s 2020 GDP due to the coronavirus, analysts said Tuesday, warning that EUAs could eventually crash to as little as €5 if the crisis persists.

EUAs extended their recent gains into a fourth session on Tuesday, adding as much as 6.6% to hit a new three-week high before retreating to erase the day’s rise as more observers questioned the sustainability of the rally.

California Low Carbon Fuel Standard (LCFS) prices declined ahead of utility Pacific Gas & Electric's (PG&E) Tuesday auction, though some participants thought the market was already primed for a retracement amid the prolonged coronavirus outbreak.

The Northeast US RGGI carbon market will offer more than 16.3 million allowances for sale at its June auction, the 10-state programme announced on Tuesday.

South Korea has extended deadlines for emissions reporting and compliance under the emissions trading scheme by a month amid disruptions caused by the COVID-19 outbreak, and has backloaded some of its monthly KAU auction volume accordingly.

A proposal to include shipping in the EU ETS has gathered an "encouraging" consensus among EU lawmakers, the EU parliament’s lead lawmaker on the issue said on Monday. 

The EU must increasingly focus on reducing the steel sector’s use of coal, analysts said on Tuesday in finding that coal-fired steelmaking facilities were the top emitters in seven EU nations last year.

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

A trading and risk management analyst at London-based consultancy Redshaw Advisors has left the firm to join Oxford-headquartered offset project developer Climate Care.