Carbon Pulse

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

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

A global temperature rise of 2 degrees C could be avoided if large emitting countries collectively adopt a carbon tax of $75/tonne by 2030, as well as other ambitious actions, according to a report by the International Monetary Fund.

RGGI allowance (RGA) prices rose by double digits this week after Pennsylvania announced plans to design an ETS compatible with the Northeast US carbon market, while California Carbon Allowances (CCAs) continued to decline on the secondary market.

Ontario’s Progressive Conservative government has dithered on rolling out its climate plan unveiled nearly a year ago, with weaker industry carbon pricing standards and no progress on an emission reduction fund underscoring those delayed efforts, according to a report published Thursday.

The EU Parliament on Thursday confirmed its position on the 2021-2027 centralised EU budget, seeking a higher amount of climate-related spending to reflect the bloc’s net zero emissions ambitions.

Washington state’s Puget Sound Clean Air Agency (PSCAA) published a draft low-carbon fuel standard (LCFS) regulation on Wednesday, with the four-county region proposing the most ambitious carbon intensity (CI) reductions of any North American clean fuels programme.

Static year-on-year inflation kept the WCI cap-and-trade programme’s price floor on track for $16.67 next year, but a direct comparison with the Oct. 2018 rate suggests the price could slide further, according to US federal data released Thursday.

Oil major Shell will offer British drivers the chance to offset their carbon footprint, it said on Thursday, expanding from its Dutch initiative as part of a global commitment to invest $300 million in land-based emissions-curbing initiatives.

European carbon prices continued to rebound somewhat on Thursday, rising further from yesterday's six-month low on bullish auction results, as well as short-covering and opportunistic compliance buying.

Poland’s former Environment Minister Jan Szyszko died on Wednesday at the age of 75, the government announced.

Australia’s Clean Energy Regulator issued over 460,000 carbon credits this week, surpassing 12 million offsets in 2019 as vegetation and waste projects continue to dominate the programme.

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

A US federal judge threw out California utility Pacific Gas & Electric's bankruptcy exclusivity claims on Wednesday and will allow bondholders and wildfire victims to submit a competing reorganisation plan.

Germany’s ministerial cabinet on Wednesday approved the government’s new €54 billion climate plan after making a few tweaks, sending the proposals to tackle non-EU ETS emissions for passage by parliament and state lawmakers.

California stands a long way off from meeting its ambitious 2030 emission reduction targets at the current pace of decarbonisation, as increased wildfires further jeopardise the state’s climate progress, a new report found.

California regulator ARB granted more than 349,000 new offsets (CCOs) across two protocols this week, while it reduced the invalidation period on 3.3 mln existing credits, according to data released Wednesday.

Traders view Pennsylvania’s recent announcement that it will develop a RGGI-modelled ETS regulation as a positive step for the Northeast US programme, but several potential obstacles towards realising the policy may blunt any near-term secondary market impacts.

Oil and gas company Woodside Energy has teamed up with environmental firm Greening Australia to carry out a large-scale tree planting project that is expected to generate 1 million offsets over the next 25 years.

New Zealand Prime Minister Jacinda Ardern on Wednesday reiterated the need to reduce carbon emissions from agriculture and the opportunities such action might bring, amid a domestic row that is delaying plans for how to bring the sector into the NZ emissions trading scheme.