Carbon Pulse

Three HK-listed investment companies have signed a memorandum of understanding with a Shanghai-based carbon trading firm that paves the way for them to take a majority stake in one of mainland China’s biggest emission traders.

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

The Canadian environment ministry and California signed a Memorandum of Understanding on Wednesday to promote cooperation on the former’s development of a Clean Fuel Standard (CFS), along with other measures to promote zero-emission vehicles and alternative fuels.

California regulator ARB issued nearly 600,000 offsets (CCOs) this week across four protocols, while Quebec handed out its first credits in more than seven months, according to regulator data released Wednesday.

Analysts have cut their EUA prices forecasts for the remainder of the year by 9-13%, as Brexit risks loom larger and investor interest drains from the market.

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Connecticut’s Department of Energy and Environmental Protection (DEEP) is completing work to fix numerous errors on its RGGI regulation identified by a legislative committee, with the aim of sending the final proposal back for approval later this summer.

Switzerland’s carbon credit procurement agency has selected three GHG-reducing activities for its initial call for proposals, aiming to tie up its first emission trade deals under the Paris Agreement's market-based Article 6.

European carbon was propelled to a new six-week high on Wednesday, as a second day of no new supply coming to market coupled with technical and compliance buying to lift prices.

Nearly 500 investors managing $34 trillion worth of capital are urging G20 nations to strengthen their Paris Agreement targets, and put in place policies to achieve those goals, including meaningful prices on carbon emissions and targets for phasing out fossil fuel subsidies.

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

Language inserted into Oregon’s WCI-modelled cap-and-trade proposal could make it difficult for in-state forestry offset projects to get off the ground, numerous developers told Carbon Pulse.

Oregon Democrats do not have the votes to pass the cap-and-trade bill at the center of a Republican walkout, the Senate President said Tuesday.

The UN produced a new draft text on rules covering international emissions trade on Tuesday, after governments broke a deadlock that some observers said raises the prospects for a deal later this year on the Paris Agreement’s divisive Article 6.

**Following some reader suggestions, we’re trialling a new brief midday EU ETS market report.**

Tuesday's EU Common Auction Platform (CAP) auction was cancelled because the clearing price was significantly below the secondary market, sale host EEX said.

Australian Energy Minister Angus Taylor has warned state governments about setting more ambitious emission reductions than the federal Coalition, arguing this would be inappropriate and likely to push up power prices.

New Zealand carbon allowances climbed back up to NZ$23 ($15.28) as some buyers stepped in to take advantage of what they considered attractive levels.

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

Prices for biofuel credits (RINs) under the Renewable Fuel Standard (RFS) have climbed in recent days after a news outlet reported President Trump ordered a review of the EPA’s compliance waiver programme for refiners.