Carbon Pulse

EU ETS prices did not hurt revenue, profits, or employment at firms covered by the programme over 2005-2014 period, but despite modest price levels, they had a limited impact in cutting emissions, the OECD said in a report Thursday.

California Low Carbon Fuel Standard (LCFS) credits traded at a new all-time high on Wednesday, drawing closer to the $200 mark as traders debated whether or not that level would be breached.

Analysts are trimming their EU carbon price forecasts in the wake of Poland’s announcement that it would offload an additional 56 million permits in 2019, with some experts predicting that another large batch will come the following year.

A baseline-and-crediting scheme for industrial emitters under a ramped-up Safeguard Mechanism featuring targets in line with the Labor party’s climate target would be short from the outset, with demand rapidly increasing over the next decade, a report found Thursday.

EU carbon prices plummeted on Thursday morning on the back of Poland's announcement that it would double the number of allowances it intends to auction next year.

*FREE READ* - There are hundreds of millions of tonnes in open interest across the Dec-18 EUA options. Beyond spawning more volatility, options trading veteran Tobias Munk says this massive build-up may yield additional risks in the form of unwanted exercises and 'pin risk' ahead of next week's expiry.

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The British Columbia provincial government outlined a long-term climate strategy Wednesday aimed at electrifying its transportation sector, increasing its energy efficiency from buildings and reducing emissions from its industrial sector.

Dip-buyers failed to support EU carbon prices on Wednesday as the benchmark contract fell more than 5% to a four-day low below €20.

Poland intends to auction 55.8 million unallocated EU Allowances that it had set aside during 2013-2017 to help decarbonise its power sector, roughly doubling the number of permits the country had been expected to sell next year, the European Commission said late Wednesday.

California utilities are asking regulator ARB to withdraw its proposal to regulate indirect emissions from the Energy Imbalance Market (EIM) and continue its existing policy through 2019, according to public comments.

Negotiators substantially cut down the draft text of the Paris Agreement’s Article 6 concerning international emissions trading on Wednesday, though sources said that much work remains to be done over the next week-and-a-half of UN talks in Katowice.

Emitters increased their buying of German EUAs in October, taking advantage of sinking prices, a new report shows.

Some 40 companies, business group and environmental organisations on Wednesday released the ‘Katowice Declaration on Sound Carbon Accounting’ to avoid double counting of emission cuts in carbon markets set up under the Paris Agreement and ICAO.

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California’s ARB is slated to discuss the cap-and-trade amendments at its December board meeting, potentially enabling the state agency to approve those changes this year.

UN aviation body ICAO has once again postponed decisions on eligible credits and cleaner fuels under its CORSIA global offsetting mechanism, miring it in further uncertainty as the EU takes steps to safeguard its ability to continue regulating flight emissions.

EU carbon prices nudged higher for a second straight day on Tuesday, boosted by a strong auction result, though market participants remained braced for more volatility ahead.

The continuation of the CDM and its CER credits when the Paris Agreement takes effect in 2021 has emerged as a major point of contention in the early days of the UN climate summit in Poland, as developers and NGOs remain widely split on the issue.

New Mexico should impose an escalating carbon tax or install a cap-and-trade programme across large emitting sectors if it wants to reach its long-term emissions goals, a new report has proposed.