Carbon Pulse

The New York grid operator’s plan to implement a carbon charge on the state’s wholesale power market would have only a minimal impact on energy prices and customer costs, according to a study by consultancy The Brattle Group.

The US Department of Interior’s Bureau of Land Management (BLM) on Tuesday finalised a rule to roll back Obama-era standards on capturing methane emissions from drilling on public lands, the second time in as many weeks that the Trump administration has moved to ease regulations on the potent GHGs.

Mexico plans to roll out an emissions trading system (ETS) by 2022, one year later than the country's most recent thinking and after it will complete a three-year pilot programme starting next year, its environment ministry said in a statement.

EU trade association BusinessEurope said Wednesday it is wary about supporting an increase to the bloc’s overall 2030 emissions target, even though agreed policies put the bloc on track to outpace the current goal.

The UK’s spot EUA auction failed on Wednesday, marking the third time this year that an ICE-hosted sale has been cancelled due to weak demand.

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Emission prices have since recovered but no one knows if this will last. With consultation underway on improving the New Zealand Emissions Trading Scheme (NZ ETS), the government should seriously consider a “price floor” to rebuild confidence in low-emission investment.

Additional past vintage carbon allowances arising from regulatory provisions will also be included in the upcoming Western Climate Initiative (WCI) auction, California officials told Carbon Pulse.

European carbon prices gave back most of Monday’s near-5% gains on Tuesday as a weak auction result weighed, but EUAs still managed to close above €20.

**THIS IS A FREE ARTICLE** – The world's biggest carbon offset market is set to sunset in 2020, with governments at odds over how the UN CDM’s thousands of projects and billions of carbon credits should be subsequently treated under Article 6 of the Paris Agreement.

Governments need to raise carbon prices much faster if they are to meet their commitments on cutting emissions and slowing the pace of climate change under the Paris Agreement, according to a report by the OECD on Tuesday.

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EU carbon prices climbed almost 5% on Monday, rising by almost a euro following a strong auction in another choppy session in the wake of last week’s massive swing of almost €8.

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New Zealand carbon allowances made minor gains further above NZ$25 on Monday as supply has dried up amid expectations of further price hikes.

Australia’s new environment minister Melissa Price on Monday gave the nation’s offset market a boost by saying she was seeking to top up the budget of the Emissions Reduction Fund (ERF), the first government member to say so since the A$2.55 billion fund was established.

Four British men have been jailed for a combined 32.5 years after being found to have operated a £2.4 million fraud that involved mis-selling carbon credits to 130 victims.