Carbon Pulse

Australia’s Clean Energy Regulator this week issued over 77,000 offsets to the Director of National Parks, the first time the agency has earned credits for its efforts to control savanna fires.

The price rise in New Zealand’s carbon market continued Friday as allowances hit the NZ$22 mark for the first time in the market’s 10-year history.

Hong Kong is planning to launch a carbon crediting scheme for its building sector that could generate 2.5 million credits a year and is developing a blockchain-based trading platform to create a domestic market, according to government officials.

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

US carbon prices moved in opposite directions this week, but the change in values and volumes was minimal in both markets as new WCI data was published and the holiday season neared its peak.

Average credit prices in California’s Low Carbon Fuel Standard (LCFS) continued to set new highs in June, as market participants await more information on credit figures from Q1 2018 and regulator ARB’s rulemaking package.

European carbon prices fell on Thursday, briefly dipping below €16 amid tumbling energy prices to end a 10% rally that had built up over eight straight days of gains.

A government white paper released Thursday that outlines the UK’s proposed post-Brexit relationship with the EU offered few further details on whether the country would seek to remain in the bloc’s carbon market, stacking up uncertainty as the format exit date approaches.

Sixty New Zealand companies on Thursday vowed to measure and report their CO2 output and set GHG reduction targets in line with the Paris Agreement, a move that will impact half the nation’s emissions.

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

The Northwest Territories (NWT) will begin taxing carbon-based fuels in July 2019 at a rate in line with the federal government’s pan-Canadian framework, it announced Wednesday, with an accompanying rebate system designed to defray the costs for residents of the remote subarctic jurisdiction.

Quebec's environment ministry granted almost 41,000 offsets this week to seven landfill gas projects in its first issuance since Sep. 2017, as traders said this fall’s approaching WCI compliance deadline is creating a supply crunch throughout the market.

California has reduced emissions included in the state’s GHG inventory four years ahead of schedule, achieving the target laid out in the state’s landmark climate policy but still exhibiting increases in several sectors.

A nationwide carbon tax on the US electricity sector would yield more emissions reductions and fewer ratepayer impacts than previously thought thanks to falling prices for renewables and natural gas, according to an environmental think-tank.

Norway has the capability to store all of Europe’s CO2 emissions, the Nordic country’s environment minister Ola Evestuen said Wednesday, adding that CCS is essential for reaching the ultimate goal of net zero greenhouse gas output.

Switzerland’s energy-related CO2 emissions continued to decline in 2017, the government reported Tuesday, attributing much of the fall to the increased use of biofuels.

South Korea on Wednesday released the allocation plan for the second phase of its emissions trading scheme, adding more than 30 million permits annually for industrials to support their short-term growth prospects.

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