Carbon Pulse

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

A record batch of Colombian CERs were voluntarily cancelled this week for use by local emitters against the country’s carbon tax.

Czechia has once again been the first country to receive the annual greenlight from the European Commission to hand free EUAs to its utilities.

EU carbon prices extended their seven-year high on Friday to end above €17 for a 6.3% weekly rise, as tighter auction supply nears and despite a weaker energy complex.

The UK High Court on Friday blocked the path to a full hearing for a charity group seeking to deepen the country’s 2050 emission reduction goals, in one of the world’s first legal tests of the Paris Agreement.

The Philippines government is looking at whether to introduce a carbon tax in the country, holding an “exploratory” workshop on the subject this week.

Adopting a federal clean fuel standard (CFS) is a costlier and less effective way for Canada to reduce GHGs than an economy-wide carbon price, according to a new study published on Thursday.

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.

New Zealand emissions permits extended record high levels again on Friday, with some market participants questioning whether the rally might take prices up to the NZ$25 de-facto price ceiling or even beyond.

A subsidiary of Australian mining major BHP Billiton this week received nearly 240,000 carbon credits for capturing and combusting methane emissions from one of its coal mines in New South Wales.

Australia’s main argument to stick to a modest emissions target under the proposed National Energy Guarantee (NEG) is to avoid electricity price hikes, but wholesale power prices could be 25% cheaper by 2030 with a more ambitious goal, analysts said on Friday.

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

Ontario Premier Doug Ford announced on Thursday that his province will join Saskatchewan’s lawsuit to stop the implementation of the Canadian federal government’s ‘backstop’ carbon pricing scheme, setting up a showdown with Ottawa over the legality of its national climate plan.

US carbon markets were mostly unchanged over the course of the week amid a summer holiday season in full swing.

California Low Carbon Fuel Standard (LCFS) credits broke out of a relatively stagnant stretch this week to push into new territory after one trade drove the market higher.

Finnish utility Fortum emitted 1.4 million tonnes of CO2 from its EU ETS-regulated facilities over the first half, down 7% year-on-year, it said in financial results on Thursday.

EU carbon prices climbed to their highest since 2011 on Thursday, as higher power prices and another stronger auction lent support.

Four of China’s biggest industries will join the nation’s burgeoning power market, allowing them to negotiate prices bilaterally as part of the government’s market reform, a process deemed crucial for the chances of the national ETS to succeed in cutting carbon from electricity generation.

New Zealand carbon allowances set an all-time high for the seventh time in a month on Thursday as bullish momentum continued to lead prices up.

EU carbon prices will continue their rally and will double in the next two years, with a rise above €100 in the next decade “a real possibility”, analysts said.