Carbon Pulse

California Carbon Allowances (CCAs) saw little price movement this week despite a surge of volume after the Thanksgiving holiday, while RGGI allowances (RGAs) continue to see limited activity ahead of the final auction for 2018.

Public climate finance from developed to developing countries totalled $56.7 billion in 2017, marking a 17% rise over the previous year and a 44% increase on 2013, according to data compiled by the OECD on Thursday.

European carbon rose on Thursday on the back of the day’s auction result and a stronger energy complex.

China has developed almost 100 forest carbon projects that will generate offset credits for the national emissions trading scheme, with a view to expanding the portfolio further, according to a government report.

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

Compliance entities and speculators took a less aggressive bidding approach to the November WCI current vintage auction because of the market's growing allowance surplus and limited ability or desire to hold that length, numerous traders told Carbon Pulse.

One of the largest projects in California’s offset programme saw its invalidation period shrink to three years as California and Quebec issued a total of 338,000 new offsets this week, according to state data.

The UK aims to get its first big carbon capture, storage and use (CCSU) facility operational in the mid-2020s, but the government was coy on how the facility would be funded.

US biofuels credits under the Renewable Fuel Standard (RFS) received a boost on Tuesday after a media report said the Trump administration was temporarily halting the issuance of compliance waivers for an agency review.

The European Commission adopted an updated climate strategy on Wednesday, outlining a “realistic” pathway to net zero emissions by 2050 without the use of international credits.

EU carbon prices briefly tumbled below €19 on Wednesday after a bumper UK auction cleared at a record discount, but some traders said there may be more to the bearish result than weak demand.

Should the state government in Western Australia decide to reinstate obligations for the LNG industry to offset its greenhouse gas emissions, that could drive demand for 15-60 million carbon credits each year, a report said Wednesday.

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

A bipartisan group of US House representatives introduced a $15 carbon fee and dividend bill on Tuesday that could signal the onset of increased climate policy efforts in next year’s Congress.

The New York Independent System Operator (NYISO) will alter its CO2 pricing approach to carbon-free resources on the margin in an effort to minimise emission leakage, according to a presentation.

EU carbon prices dipped on Tuesday, staying in a narrow range in a becalmed session that defied a rising energy complex.

Maryland’s Department of the Environmental held its final public hearing on Monday for the proposed RGGI Model Rule updates, and officials anticipate finalising them next month.

France on Tuesday confirmed plans to close two of its nuclear reactors in 2020 as part of a strategy that paces the country's atomic power phase-down through 2035 while hiking domestic carbon taxes.

EU carbon prices will rise by at least 60% to above €30 early next year as the onset of the MSR squeezes the market, analysts predict.

Countries are going even further off track towards limiting global warming to 2C as emissions began increasing in 2017, according to a UN report that found nations must triple emissions cuts pledged under the Paris Agreement to keep within the temperature limit.