Carbon Pulse

The British High Commission in Ottawa is recruiting a Senior Climate Change Policy Advisor to coordinate the mission’s work to combat Climate Change. This includes diplomatic action to support delivery of the 26th Conference of the Parties to the UN Framework Convention on Climate Change (COP26) in December 2020.

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

The world's biggest steelmaker ArcelorMittal announced plans on Friday to cut emissions from part of its EU output by 30% under 2018 levels by 2030, ahead of a planned global goal due next year.

European carbon soared to a five-week high near €26 early Monday, bolstered by news of a supply cut plus the Conservatives’ big win in the UK general election, which is expected to result in long-awaited clarity on Brexit, but prices recoiled deep into the red amid mounting bearish pressures.

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

South Korean negotiators play a far more active role than usual at this year’s UN climate negotiations in Madrid, hoping to push through rules that would allow Korean ETS firms to buy up to 55-60 million international carbon credits annually throughout the 2020s in a bid to avoid runaway domestic CO2 prices.

New Article 6 text dropped well behind schedule at the UN climate summit on Friday, with numerous contentious issues still remaining on agreeing the rulebook to international emissions trading under the Paris Agreement.

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

EU leaders have failed to achieve consensus on targeting net zero emissions by 2050, declaring a deal had been reached but acknowledging that one member state was unable to commit to the goal at this point.

EU carbon prices bounced back above €25 on Thursday, recovering all of the previous day's losses after hitting a six-day low this morning, as wider energy prices rebounded from their recent streak of declines and the market readied for the UK election results and their impact.

Australia’s Clean Energy Regulator on Thursday issued new baselines for several facilities covered by the Safeguard Mechanism, allowing most of them to increase their CO2 emissions, including three of those that were forced to buy carbon credits to meet their targets last year.

January’s start of carbon allowance sales for the EU’s Innovation Fund is being delayed due to “necessary practical arrangements” not yet being in place, auction host EEX announced late Thursday.

Negotiations on the rulebook with International emission trade plodded along in Madrid on Thursday, as slow progress on other elements of operationalising the Paris Agreement solicited fears the UN Climate Summit would once again run well into the weekend.

The US state of Minnesota is in the early stages of researching a low-carbon fuel standard (LCFS) to help reduce emissions from the transportation sector, a state official said Thursday at a UN COP25 side event.

The Transportation and Climate Initiative (TCI) collaborative will release potential ETS cap levels and allowance price expectations as part of the draft Memorandum of Understanding (MOU) that will be published next week, a US state official said at the UN climate summit Thursday.

The vast majority of Australian businesses polled in a survey want access to international emissions markets, but worry about the risk of other nations slapping border carbon adjustments on Australian goods over the government’s lack of climate action.

California Carbon Allowance (CCA) prices rose slightly on the secondary market as participants looked to push positions further out on the curve, while RGGI Allowance (RGA) prices dipped following the release of the Q4 auction results.

The New Jersey legislature will discuss two proposals next week that would cement the state’s participation in the Northeast RGGI ETS, potentially putting safeguards in place if Republicans regain the governorship.

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

The Canadian federal government on Wednesday gave the green light for New Brunswick’s proposed carbon tax on fossil fuels beginning in April, a move that will allow the province to avoid coverage under Ottawa’s ‘backstop’ CO2 levy.