Carbon Pulse

Finnish utility Fortum reported zero emissions from its ETS-covered facilities over Q3 on Thursday, as its remaining backup thermal units were not called upon.

The EU should prepare for a coal power phaseout by 2030 as market forces make the facilities increasingly unprofitable without subsidies, with just a fifth making any money today, a report said on Thursday.

Nova Scotia Environment Minister Gordon Wilson introduced legislation on Wednesday to craft more ambitious GHG reduction targets for 2030 and 2050, along with planning a new climate change strategy for the Canadian province by the end of next year.

The Canadian Council of Ministers of the Environment (CCME) on Wednesday released a framework for jurisdictions to develop offset programmes across the country, with an aim of establishing long-term harmonisation and credit transferability.

EUAs slid early on Thursday as France's all-clear of its nuclear facilities prompted power market falls, adding to the Brexit-related weakness that has seen EUAs tumble 6% this week.

The landfill gas arm of energy firm EDL has made good on nearly 460,000 carbon credits under government contract, while Australia’s Clean Energy Regulator this week issued a modest 150,000 new offsets.

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

The New Zealand government has backed down on plans to bring agriculture into its emissions trading scheme, agreeing instead to work with the sector to develop a separate carbon pricing mechanism for farmers by 2025.

California regulator ARB granted under 89,000 offsets (CCOs) this week, marking its lowest weekly issuance since spring 2018, according to data released Wednesday.

The US Justice Department has filed a lawsuit against California’s cap-and-trade programme, claiming the market is unconstitutional because it links to Canadian province Quebec, the Wall Street Journal reported Wednesday.

EUAs slipped towards €25 early on Wednesday as the Brexit process appeared to be heading for yet another extension that keeps UK emitters' ETS participation in doubt.

South Korea’s cabinet has approved a climate action plan that will see the CO2 cap in the emissions trading scheme drop faster over the next decade than previously planned.

A government-appointed panel examining ways to increase Australia’s supply of carbon credits has listed the possibility of awarding offsets to facilities in the Safeguard Mechanism that outperform their benchmarks as a potential option.

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

Canada’s ‘backstop’ output-based pricing system (OBPS) may not have an adequate supply of offsets available before next year’s inaugural compliance deadline, stemming from the slow rollout of federal and provincial protocols, a conference heard Tuesday.

New Jersey’s Department of Environmental Protection (DEP) has set a November deadline for regulated entities to submit documents to the US EPA linking their emissions to the Northeast ETS’ registry, a spokesperson told Carbon Pulse.

California regulator ARB plans to revise its life cycle analysis for its Low Carbon Fuel Standard (LCFS) early next decade, while potentially offering post-2030 carbon reduction goals by the mid-2020s, a state official said Tuesday.

EUAs slipped further below €26 early on Tuesday as UK lawmaker wrangling kept the prospects of a Brexit deal in the balance.

Australia’s New South Wales state government will this week introduce legislation that bans its Independent Planning Commission from taking Scope 3 emissions into account when deciding whether or not to let mining projects go ahead.

New Zealand is likely to avoid the foreign offset restrictions in its latest revised Zero Carbon Bill by setting domestic targets that are less ambitious than its international commitments, policy experts said Tuesday, though ETS linking might prove difficult.