Carbon Pulse

New Zealand carbon allowances continued their downward trend on Monday after Prime Minister Jacinda Ardern announced a shutdown of all non-essential services from Wednesday in a bid to prevent the COVID-19 virus to take hold.

Italy on Saturday ordered the closure of all non-essential factories as it struggles to contain the coronavirus outbreak.

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

Speculators trimmed their California Carbon Allowance (CCA) holdings by nearly 10 million allowances earlier this week amid growing concerns about a coronavirus pandemic reducing compliance demand under the WCI-linked carbon market, according to US Commodity Futures Trading Commission (CFTC) data.

The EU should extend the ETS to its eastern neighbours rather than imposing a carbon border adjustment that risks breaching a longstanding treaty linking energy markets, the head of the region's energy watchdog told Carbon Pulse on Friday.

The second quarterly WCI carbon auction of the year on May 20 will feature 66.2 million current and future vintage permits available for purchase, as the coronavirus pandemic and economic fallout raise concerns that the sale will be undersubscribed for the first time in three years.

EU member states and the UK handed out a further 8.5 million free carbon allowances to industrial emitters over the past two weeks, according to updated data released late Friday by the European Commission.

California Carbon Allowances (CCA) retreated beneath $13.00 on Friday morning as rising concerns about plummeting WCI-capped emissions and higher margin rates forced additional selling.

Germany will take into account instances where EU ETS compliance deadlines have not been met as a result of the coronavirus outbreak and could grant clemency in some cases, the government announced on Friday.

EUA extended their rebound into a second day on Friday, clawing back some of this week's massive losses caused by the coronavirus, as financial markets stabilised somewhat to digest the effect of government stimulus measures.

The Committee on Climate Change are seeking a high-performing policy analyst, ideally with existing energy and climate expertise to work on the organisation’s internationally-focused work programme, which is focused on supporting efforts to raise the global ambition on tackling climate change ahead of COP26 in Glasgow in November 2020.

China’s recent decision to loosen restrictions on building new coal-fired power plants could spark the construction of additional capacity larger than Poland’s entire fleet, analysts said Friday.

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

New Zealand carbon allowances continued to fall in Friday trade, shedding almost a dollar to hit their lowest levels in eight months as traders unloaded positions.

California Governor Gavin Newsom (D) issued a statewide ordered for all residents to “shelter in place” on Thursday amid the growing coronavirus pandemic, with the decision likely to reduce emissions in the state’s cap-and-trade programme.

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

California Carbon Allowance (CCA) prices fell dramatically this week as financial entities unloaded positions due to growing fears of a global recession and the bearish WCI emissions impact from the coronavirus pandemic, while RGGI allowances (RGA) sank to their lowest level since mid-2018.

US biofuel credit (RIN) prices rose on Thursday after the economic impacts of the COVID-19 virus pushed prices under the Renewable Fuel Standard (RFS) to a nearly two-month low earlier this week.

Offset standard developer and manager Verra is planning a series of alterations to its Verified Carbon Standard (VCS) project types that the ICAO Council declined to approve for use under the international aviation offset system CORSIA.

Poland may propose emergency EU reforms including ETS changes, the country's climate ministry told Polish state media on Thursday, aiming to reduce the burden on its economy as it comes under intense strain due to the coronavirus.