Carbon Pulse

EUAs inched higher for a second straight session on Tuesday as strong auction demand eclipsed an ever-weaker signal from the energy complex to push carbon closer to last week's 11-year high.

The risks presented by Brexit to the largest emitting company in the EU ETS are unrelenting and unhedgeable, according to RWE Supply and Trading’s head of regulatory affairs.

Governments are looking to change their approach on agreeing to a global rulebook for carbon markets in an effort to avoid a repeat failure that almost crashed the UN climate talks last year.

Pennsylvania’s Environmental Quality Board (EQB) on Tuesday approved a green group-led petition to introduce an economy-wide cap-and-trade programme in the state, but the proposal still has several more hurdles to clear before becoming a viable ETS.

Japan’s FY2017 greenhouse gas emissions fell 1.2% year-on-year, the environment ministry said Tuesday, meaning the country has achieved nearly a third of its Paris Agreement obligations.

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

EUAs resumed their upward trajectory on Monday as the highest auction prices ever failed to deter buyers, helping to push carbon back towards €27 and last week’s 11-year peak.

California will not be able to reach its mid-century GHG target without energy innovation taking place in several key sectors, as current technologies will fall short in generating the necessary emission reductions, according to a new report.

Product and business development firm IncubEx has hired its senior vice president to assist in the company’s expansion of exchange-traded US carbon and renewable energy commodities.

Alberta offset market participants and developers are closely monitoring the outcome of the province’s Apr. 16 election, as a victory by the poll-leading United Conservative Party (UCP) could dramatically alter the landscape of the Canadian province’s decade-long industry.

British Steel is seeking an emergency £100 million government loan to help it buy carbon allowances, Sky News reports, confirming earlier reports that the company was struggling to comply with the EU ETS due to Brexit-related restrictions.

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

The EU’s new Innovation Fund aims to hold its first funding call in the second half of 2020 and give extended support to projects aiming to cut emissions among heavy industries, a conference heard this week.

European carbon prices fell on Friday after hitting a fresh 11-year high earlier in the day, pausing a rally that had added as much as 30% to EUAs since the end of March.

Washington's proposed low-carbon fuel standard (LCFS) programme hit a snag this week as state legislators failed to advance the bill out of a Senate committee, but officials could use other avenues to advance the programme forward.

A handful of EU member states doled out another 61.7 million free carbon allowances in the past two weeks, with laggards Italy and Spain making big steps towards completing their 2019 allocations.

The UK government has aligned the country’s 2018 EU ETS compliance deadline with that of the rest of the bloc after the Brexit deadline was pushed back by six months.