Carbon Pulse

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

Poll-leading Canadian Conservative Party leader Andrew Scheer said Wednesday that he would eliminate the ruling Liberals’ ‘backstop’ carbon tax and alter its output-based pricing system (OBPS) if elected as prime minister this fall, while potentially exploring the use of low-carbon exports to claim emission reductions towards the country’s Paris Agreement GHG target.

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Oregon’s WCI-modelled cap-and-trade bill is expected to face a Senate vote later this week, despite Republicans threatening to explore various options to halt the proposal.

California’s fuel consumption continued to fall below prior years early in 2019, while greater hydro generation is also reducing ETS-covered emissions from the state’s electric grid, according to government data.

US-based fund Climate Trust Capital (CTC) is beginning to sell California Carbon Offsets (CCOs) generated through its first round of project investments, and it is targeting the launch of a second fund by early next year.

The US EPA finalised its Affordable Clean Energy (ACE) rule on Wednesday to replace the stayed Obama-era Clean Power Plan (CPP), with trading and biomass co-firing barred as compliance options and Democrat-led states already lining up to sue the agency.

European carbon prices eased in another quiet session on Wednesday but remained within sight of €25, as the Jun-19 options expired to little fanfare.

European low-cost airline Wizz Air has taken up rival Ryanair’s challenge to publish monthly CO2 emissions statistics, declaring itself to be the continent’s “greenest” carrier.

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Eastern EU nations will better finance their clean energy transitions by transferring ETS auction proceeds to the bloc’s Modernisation Fund as rigid rules for other options would stifle investment, a report found on Wednesday.

Companies regulated by Europe’s carbon market have exchanged almost 16 million Kyoto Protocol offsets for EU Allowances in the past six months, significantly ramping up the practice as EUA prices hit an 11-year high and as the usage deadline approaches.

The Western Australian government is considering options such as an industry-funded carbon abatement fund as alternatives to mandatory offsetting for major resources projects, which it considers would impose significant economic costs on the state’s fossil fuel industry.

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

Pennsylvania’s Department of Environmental Protection (DEP) will partner with outside consultants to model the economic effects of implementing a cap-and-trade programme, likely extending the timeline on whether to advance a green group-backed petition until at least 2020, an environmental source told Carbon Pulse.

At least four more countries have announced their support for an EU net zero 2050 emissions target, bringing the bloc closer to agreement on an initiative that could lead to a more ambitious ETS cap next decade.

EU carbon prices inched up on Tuesday after a strong auction lifted sentiment, but prices remained rangebound near €25.

The British and Italian governments have agreed to partner on a proposal to co-host the 2020 UN climate talks, clearing the way for the UK to host the main summit, known as COP26.

Brussels urged member states on Tuesday to declare the extent of their planned EUA cancellations and to up their use of non-ETS trading amid a collective shortfall to the bloc's 2030 climate goals.

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