Carbon Pulse

The much-anticipated EU climate law seeks to give the European Commission powers to set a “trajectory” towards climate neutrality in 2050, by setting five-year emission reduction benchmarks, according to a leaked draft.  

Australia’s Clean Energy Regulator distributed fewer than 40,000 new carbon credits in its latest issuance round, around 10% of the average weekly volume so far this year.

New Zealand carbon allowances have dropped to their lowest levels since December amid concerns the coronavirus will impact the economy negatively for at least a year.

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

The California Compliance Offset Protocol Task Force (OPTF) may provide guidance on altering existing methodologies in addition to developing new ones, state regulator ARB confirmed Monday, as the expert committee began its work to increase the supply of in-state credits under the state’s carbon market.

Stakeholders requested a variety of changes to the US Transportation and Climate’s Initiative (TCI) draft Memorandum of Understand (MOU) to better align the proposed regional fuel sector ETS with existing North American carbon markets and improve environmental integrity and equity, according to public comments.

The Director will be responsible for developing, supporting, and executing the Network’s activities. They will work closely with other members of the GGON secretariat, working groups and members to drive a variety of cross-organizational campaigns and initiatives to advance network objectives.

The candidate will work under the direction of the Climate, Energy, and Environment Department’s Vice President and Managing Director to analyze and research key international climate policies and trends, as well as to undertake in-depth research to develop new connections and insights.

The Climate Litigation Network (CLN), a project of the Urgenda Foundation, is looking for a Legal Associate to support its work on international climate change litigation, starting immediately.

IETA is recruiting for the position of Interim ICROA Programme Director in its Geneva office. This role will contribute to the strategic success of IETA’s programmes including policy work, research, communications, operations and events.

EUAs sank back from an early move above €24 on Monday, as a weaker auction outweighed positive signs from across financial markets amid prospects for stimulus measures to counter the economic impact of Covid-19 coronavirus.

The Singapore government has said it will cut greenhouse gas emissions 50% below 2030 levels by mid-century and is eyeing use of the international carbon market as one of three pillars to meet that goal.

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

A summary of legislative and regulatory action on carbon pricing and clean energy at the US subnational and federal level this week, including developments in California, Hawaii, Virginia, and a net zero agriculture bill in the US House of Representatives that favours carbon markets.

Washington’s Puget Sound Clean Air Agency (PSCAA) delayed decisions on advancing a low-carbon fuel standard (LCFS) for the greater Seattle area on Thursday, as a statewide clean fuel standard bill is primed for a critical hearing next week.

A federal judge this week denied California’s request to drop WCI, Inc. and the leaders of two state agencies from the US Department of Justice’s (DOJ) legal challenge of the state’s cap-and-trade linkage with Quebec, though he did remove two non-voting board members of the non-profit market administrator from the case.

Italy’s oil major Eni fleshed out its voluntary climate goals on Friday, pledging an 80% cut in full-scope emissions by 2050 with a shift from oil to gas output and a ramping up of forestry offsetting with REDD.

EUAs extended their downward plunge early on Friday, but found support above €23 despite global equities facing their worst week since the 2008 financial crisis on the spread of the Covid-19 coronavirus. 

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

The oil and gas industry again pushed up greenhouse gas emissions from Australia’s biggest companies last year, as the ongoing export boom outpaced a modest decrease from electricity generation.