Carbon Pulse

Alberta’s poll-leading United Conservative Party (UCP) has pledged to soften the performance standards and excess emissions charge that make up the Canadian province’s pricing system for large installations, as well as scrap the ruling NDP’s climate plan that provides the basis for multiple other GHG reduction and clean energy goals.

China expects the first trade in its national emissions trading scheme to go through in 2020, a government official said over the weekend, the first official indication that the programme might get off the ground next year.

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

A proposed amendment to Oregon’s WCI-modelled cap-and-trade bill would directly allocate allowances to natural gas utilities when the ETS starts in 2021, coming after the industry criticised its current treatment under the legislation.

A summary of legislative action on carbon pricing and clean energy bills at the US state level taken this week, including the passage of a 100% Renewable Portfolio Standard (RPS) in Puerto Rico, an agreement between Hawaii and California to promote offsets, and California utility commission meetings to discuss alternatives to utility Pacific Gas & Electric's ownership.

Renewable Fuels Standard (RFS) programme advocates offered a litany of complaints Thursday about the US EPA's plan to implement a series of restrictions on biofuel credit trading, while others felt the agency should go further in those potential measures. 

EUAs buckled on Friday afternoon after UK lawmakers voted down Prime Minister Theresa May's Brexit withdrawal deal for a third time, with the pre-weekend sell-off capping four days of gains that added nearly 10% to prices.

Six entities opened Compliance Instrument Tracking Service System (CITSS) registry accounts as another thirteen closed during the first quarter of 2019, California Air Resources Board (ARB) data showed on Friday.

Ireland should quadruple its domestic carbon tax on fossil fuels to €80/tonne by 2030, a cross-party government committee has determined as part of its proposed strategy to help the country hits its climate targets and reach net-zero emissions by mid-century.

The UK government has formally extended the country’s 2018 EU ETS compliance deadline by a further two weeks after MPs delayed Britain’s scheduled exit from the bloc.

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California Carbon Offset (CCO) prices have softened on the secondary market despite stronger California Carbon Allowance (CCA) prices over the past month, numerous market participants told Carbon Pulse.

China needs to move the operation of its national emissions trading scheme above  environment ministry level if the scheme is to succeed in helping curb emissions, a report said this week.

Closing prices, ranges and volumes for China's regional pilot carbon markets this week.

Japan’s environment ministry in principle will no longer back the building of coal-fired power capacity in the country because doing so would be incompatible with the Paris Agreement, it said this week.

German utility EnBW advanced its hedging rates over Q4 2018 to leave a larger share of its output hedged compared to a year earlier, it said in financial results that could add to the slightly bearish signal for EUAs indicated by utilities.

Australia’s Clean Energy Regulator issued 330,000 carbon credits this week, taking the total number of offsets generated at emission reduction projects past 60 million since the programme began in 2012.

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

European carbon prices posted a fourth straight day of gains Thursday, ending above €22 for the first time in a fortnight on what traders said looked like short-covering combined with technical buying.

California Carbon Allowances (CCA) pushed through market expectations for the 2020 floor price this week, while RGGI allowances (RGGI) languished on the secondary market after their most recent post-auction rise.