Carbon Pulse

EUAs clambered back above €24.50 on Friday, recovering to last week’s closing levels in rangebound trade aided by a bullish energy complex and a looming dip in auction supply.

A summary of legislative and regulatory action on carbon pricing and clean energy legislation at the US subnational and federal level taken this week, including a push to vote on New York’s omnibus climate policy bill, clean energy and GHG target developments in Maine, and news on California offset and hydropower bills.

EU carbon prices could be boosted by around a third by 2030 should the bloc decide to recalibrate its annual ETS emissions cap reduction rate to align with a more ambitious long-term climate goal, analysts said.

RGGI’s June auction aligned with traders’ expectations as it cleared under the secondary market for the first time since Mar. 2018, with speculators taking home the majority of allowances offered, according to results published Friday.

Pennsylvania’s Senate Democratic Leader is seeking co-sponsors for a bill to install a power sector cap-and-trade programme, a move that could give a legislative mandate for the Keystone State to join the northeast US RGGI carbon market in the future.

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

The number of planned or implemented carbon pricing mechanisms worldwide has grown to 57, but without expanded coverage and higher prices they won’t be sufficient to help meet the temperature goals in the Paris Agreement, a World Bank report said Friday.

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

California Carbon Allowance (CCA) prices rose slightly on the secondary market this week as traders continued to process the recent auction result, while RGGI allowance (RGA) prices saw minimal gains in front of the programme’s own quarterly sale.

EUAs dipped below €24 on Thursday, slipping for a second straight session as bulls remained on the sidelines following the previous day's slide in the energy complex.

At least two Eastern European nations are planning to give up their right to offer utilities free carbon allowances next decade, likely increasing sales of EUAs by hundreds of millions of tonnes as the supply is diverted to auctions.

Product and business development firm IncubEx has hired a senior vice president from an international biofuels brokerage firm to help expand the company’s offering into renewable fuel-based environmental products.

Criticism of California’s compliance offset forestry protocol misinterpreted an academic report on emissions leakage, according to the author of that research, who suggested state regulator ARB should fund further studies to gain a more accurate picture.

The Northwest Territories (NWT) government will delay the implementation of its C$20 carbon levy from next month until September as it requires more time to review the policy’s underlying legislation, but it added the Canadian federal government would not fill in the two-month gap with Ottawa’s ‘backstop’ CO2 tax.

Australia’s greenhouse gas emissions rose again last year, according to new government data, as a massive increase in liquefied natural gas more than offset CO2e cuts from electricity generation and agriculture.

New Zealand carbon allowances fell to 10-month lows in Thursday trade as lingering questions about the fixed price option has muted demand.

South Korea on Thursday announced new regulations that will limit the amount of CO2 allowances emitters can bank into the future without offloading some of their surplus, in a bid to address concerns over liquidity in the nation’s emissions trading scheme.

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

Washington state lawmakers will engage with fellow legislators and stakeholders for the rest of 2019 as they restart efforts to pass a low-carbon fuel standard (LCFS) bill next year, while a Seattle-area clean air agency is planning its own rulemaking process for a regional clean fuels programme.

New Jersey could finalise regulations as early as next month as it works to join the US RGGI carbon market in 2020, a regulatory source told Carbon Pulse.