Carbon Pulse

Canadian Prime Minister Justin Trudeau’s Liberals lost their parliamentary majority in Monday’s federal election but still exceeded many pollsters' expectations, as a stronger showing by left-leaning parties could pressure a deeper commitment to climate ambition and stave off the oil and gas-centred demands of the resurgent Conservatives.

Project developer The Climate Trust’s first offset fund is projected to yield a 14% return, with the majority of that profit stemming from appreciation in value through California’s compliance market, the organisation said Monday.

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New Jersey compliance entities’ accounts previously registered in the CO2 Allowance Tracking System (COATS) will be re-opened as necessary ahead of the state’s return to RGGI next year, an official said, with numerous emitters having not yet registered.

Switzerland’s green parties took a combined fifth of the vote in the country’s general election on Sunday, a major swing that may give them a role in governing and pushing for more ambitious GHG reduction targets.

California Low Carbon Fuel Standard (LCFS) continued to set new records last week, marching past the $205 mark to draw closer to the programme’s proposed ceiling price.

EUAs edged higher early on Monday despite UK lawmakers' failure to endorse the latest Brexit agreement over the weekend that prolongs uncertainty about the fate of British emitters in the EU carbon market.

New Zealand should only be allowed to use international carbon units to meet its domestic emission target in special circumstances, the parliamentary Select Environment Committee said Monday in its revised Zero Carbon Bill, which also retained controversial GHG goals for the agriculture sector.

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The UK will update its Paris Agreement pledge early next year and is seeking the EU to follow in step or slightly later in encouraging other nations to act, UK climate minister Ian Duncan said Friday.

Front-year EU carbon futures are likely to expire near €25 or €30 in mid-December, based on signals from the EUA options market, according to a veteran trader.

Competitors' bankruptcy proposal for Pacific Gas & Electric (PG&E) would funnel nearly $29 billion through two stock offerings to help cover the embattled California utility’s wildfire liabilities, according to a filing by bondholders and fire victims on Thursday.

Analysts expect EU carbon prices to climb sharply over the next few years but to then fall back as demand from industrial emitters eases as factories invest in cleaner production methods, a conference heard on Thursday.

The Wong family of Peru amassed a fortune building up a chain of supermarkets, but much of their wealth today is in real estate – including the 220,000-hectare (543,400-acre) Madeacre forestry concession that family’s late patriarch, Erasmo Wong, cobbled together in the province of Tahuamanu.

European carbon prices fell back on Friday on a weak auction result and amid pessimism that the Brexit deal agreed this week between Britain and the EU would pass UK parliament, with bearish implications for EUAs in most outcomes.

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

With more than 5 million carbon credits sitting in the national offset registry, Australian developers are likely able to meet demand for the 2019-20 financial year, but the market could tighten considerably as issuance volume might shrink next year while government demand has yet to peak, Clean Energy Regulator data showed Friday.

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An erosion of Canadian voter support for the incumbent Liberals and poll-leading opposition Conservatives may open a range of minority government possibilities ahead of the national election on Monday, the outcome of which will have a significant impact on the country's federal and provincial climate policies and environmental markets.

European carbon prices hit a fresh three-week high on Thursday on news that a Brexit deal had been clinched between the UK and EU.