Carbon Pulse

Stakeholder comments on potential updates and revisions to California’s cap-and-trade programme after 2020 have revealed a rift over the levels at which the state should set its various price tiers and how it should address overallocation in the scheme.

North American carbon markets were relatively low-key this week, with east coast prices moving up 3% on a brief surge of buying interest, while WCI prices stagnated amid a lack of interest in outright futures.

The Carbon Pricing Leadership Coalition (CPLC) on Thursday named a new co-chair, while the group’s managing body the World Bank announced a high-level forum on carbon pricing and competitiveness amid the release of a report on decarbonising the global power and chemicals sectors.

EU carbon prices fell to their lowest in a week on Thursday as a breach of a technical support level triggered selling despite a stronger auction.

A lack of technical infrastructure and guidance from the Ontario government regarding its compliance offset programme is holding up the first investment and project submissions, according to stakeholders.

Nova Scotia’s cap-and-trade programme should include auctions not currently part of the province’s market design, while also providing for more industry protection and linkage opportunities, according to stakeholders.

Some countries aren’t waiting until 2020 to make changes to their national climate commitments. As countries ratify the Paris Agreement, some have decided to revise their INDCs and communicate the changes as part of their first NDCs. WRI provides a summary.

Revenues raised from carbon pricing policies rose 45% last year to $32 billion, with most coming from taxes rather than trading and no clear trend emerging on where the money is spent, a report found on Thursday.

China’s State Council has approved an allocation plan for the power sector’s trial emissions trading system, local media reported Thursday, a sign that the government is on track to launch the simulated market this year as planned.

China will cut power prices for industrial and commercial users by around 10%, a move likely to squeeze the profits of monopoly grid companies and major generators and pave the way for further power market reforms.

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

Ontario and Quebec’s offset protocol development is back on track after a policy debate delayed around half of the 13 being designed, but concerns remain on the approach the provinces have decided to take.

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Although stakeholders believe that Ontario is unlikely to abandon its cap-and-trade programme should the Progressive Conservatives (PC) win the upcoming June provincial election, an exit from the WCI market could yield multiple economic and legal problems.

EU carbon prices resumed their upward trajectory on Wednesday despite another weak auction, as traders said buyers were looking to square their positions ahead of the annual compliance deadline.

The role of the ETS in meeting the EU’s long-term climate goals is being called into question all across Europe as Brussels prepares to revamp its strategy underpinning the targets.

A Beijing-based trader with China Carbon Futures left the company on Wednesday to take up the position of CEO of the Tianjin Climate Exchange.

A group of major Australia's business groups and other organisations on Wednesday urged state leaders to not ditch the proposed National Energy Guarantee (NEG) at a crunch meeting later this week.

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