Carbon Pulse

The Massachusetts House and Senate approved a bill in the waning hours of the 2018 legislative session on Tuesday that increases the state’s Renewable Portfolio Standard (RPS), but it omitted carbon pricing and several clean energy provisions that both the Senate and environmental advocates had pushed for.

US states and wholesale energy market operators should work towards implementing or expanding regional market solutions as the best way to achieve emissions reductions in the power sector, according to a discussion paper released Monday.

European carbon prices rocketed back towards recent highs on Tuesday after a strong auction result erased early weakness.

Australia’s Climate Change Authority (CCA) on Tuesday launched a review of the Safeguard Mechanism, questioning whether the policy contributes to reducing GHG emissions and putting the spotlight on issues such as double counting.

Emitters in Shanghai’s carbon market on Tuesday bought fewer than a sixth of the 2 million allowances on sale in 2018’s only auction, with the permits clearing at the government-set price floor.

Korean 2017 allowances fell slightly in Tuesday trade but held above $20 as a few companies that are yet to surrender permits for last year dipped into the market to pick up a modest 57,000 KAUs.

EDF is looking for a program coordinator to provide support for a broad range of initiatives with an immediate focus on tracking projects related to air quality and climate change in India and support for setting up a formal EDF presence in India.

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

The Manitoba government published a discussion paper on Monday laying out how an output-based pricing system (OBPS) would give heavy emitters more flexibility under the Canadian province’s upcoming CO2 tax.

EU carbon prices held above €17 for a seventh straight day in quiet trade on Monday, continuing to consolidate at higher levels ahead of the annual reduction of summer EUA supply.

California Low Carbon Fuel Standard (LCFS) prices rose to yet another new record on Monday as the week-long bull run closed in on the programme’s quarterly data release.

Massachusetts utilities inked a deal with a cross-border hydroelectric project last week, helping the state close in on its emissions reduction and clean energy targets and successfully circumventing delays in the state's original selection.

New Zealand carbon allowances saw a third consecutive session of minor losses on Monday, putting an end to the recent bull run that saw spot allowances set a remarkable eleven records in just over a month.

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Ontario entities that were not holding enough allowances to cover their emissions prior to Premier Doug Ford revoking the province’s cap-and-trade regulation earlier this month will be deemed in compliance as the government winds down the programme, the environment ministry confirmed on Friday.

US state-led Renewable Portfolio Standards (RPSs) are in need of reform to stimulate a more rapid transition to renewable energy and avoid crediting dirty energy forms that are undermining programme goals, according to an NGO report released this week.

EU carbon prices held above €17 for a sixth straight day on Friday, as buying interest around that key level offset the bearish effect of a weak auction result earlier in the day.

Below is a table of the closing prices, ranges and volumes for China's regional pilot carbon markets this week. All prices are in RMB, and volumes in tonnes of CO2e. Data sourced from local exchanges.

Australia’s Clean Energy Regulator this week handed just over 404,000 carbon credits to 14 projects under the national emissions offset programme, taking the total issuances so far this year past 9 million.

Australia’s Department of the Environment and Energy issued a consultation paper late Friday regarding a series of changes to its Safeguard Mechanism that would allow higher CO2 emissions from the nation’s largest facilities.