Carbon Pulse

Polish oil company Lotos Group expects that it may need to buy only a minimal quantity of EU carbon allowances over the next decade as its annual free allocation could be enough to allow it to avoid cutting its emissions for the foreseeable future.

Poland believes setting EU carbon border adjustments are a good way to protect the bloc’s industry and promote wider climate action, though the government is yet to decide whether to endorse an EU-wide 2050 net zero emission goal, a climate ministry official said on Thursday.

A group of more than 140 Japanese companies and over 20 municipal governments has urged the government to raise its ambition under the Paris Agreement, warning that failure to step up efforts might see Japanese firms left out of international supply chains.

Another group of big emitters under Australia’s Safeguard Mechanism has seen emission caps increase, including facilities owned by BHP Billiton and Alcoa, as the government is implementing new rules that allow emissions to rise each year.

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

California’s fuel consumption through Oct. 2019 slipped slightly below the previous year’s total, potentially resulting in stagnant ETS-covered emissions compared to 2018, state data published Wednesday suggested.

Energy industry speakers urged lawmakers on Wednesday to advance legislation that would prohibit Governor Tom Wolf (D) from joining the RGGI ETS without the General Assembly's approval, citing the large economic impact and meagre GHG reductions from doing so.

EUAs continued their recovery on Wednesday from a four-month low hit this week, as the prospect of a breakthrough in tackling the coronavirus lifted oil and wider financial markets.

A senior EU carbon and power analyst has left based ICIS to join Swedish utility Vattenfall, marking the second such departure from the German-headquartered analytics firm this year.

Swedish utility Vattenfall saw its fossil-based production dip 1.6% in 2019 as hydro reservoirs filled from very low levels earlier in the year, the company said in its annual results on Wednesday.

US biofuel credit prices continued to tick up this week after a recent federal court ruling questioned the EPA's granting of Renewable Fuel Standard (RFS) compliance waivers, but other factors were also thought to have added to the bullish sentiment.

Carbon emissions from the EU’s power sector fell by a record 120 million tonnes or 12% in 2019 thanks to a sharp decline in generation output from coal-fired plants, a report published Wednesday found.

A law to bind the EU to a 2050 net zero emissions goal is due to be proposed by the European Commission on Mar. 4, the bloc’s executive said Wednesday, a date that was a week later than had been widely expected.

NZUs have halted last week’s slide and regained some lost ground the last two days amid limited supply and traders fixing their gaze on expectations of higher prices in the longer term.

Australia will let participants in future Emissions Reduction Fund (ERF) auctions sign an optional contract that allow let them to sell contracted carbon credits to the secondary market instead if they can achieve higher prices there, in a bid to attract more participation.

South Korea’s environment ministry on Wednesday finalised its proposal for the nation’s long-term emissions strategy, aiming for 40-75% cuts from 2017 levels by 2050.

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

Washington state’s WCI-modelled cap-and-trade legislation will likely stand a greater chance of passage next year as lawmakers continue engaging with multiple stakeholders on an economy-wide approach to reducing GHGs, a committee heard Tuesday.

The EU is proposing to link its ETS to a separate British carbon market under a post-2020 trade deal, but the idea faces headwinds as Britain has rejected applying similar rules in its opening salvo of post-Brexit talks.

California officials asked a federal district court judge on Monday to postpone the timeline for a US Department of Justice (DOJ) lawsuit challenging the state's cap-and-trade linkage with Quebec, arguing two pending motions could substantially alter the case.