Carbon Pulse

Carbon-cutting activities in Peru’s waste sector could be developed using international emissions trade in a way that resolves many concerns over how carbon markets can contribute to the Paris Agreement, according to an initial draft of study commissioned by Nordic countries.

A Washington DC lawmaker will introduce a carbon fee and rebate bill in early June that would see the US capital implement the highest carbon price of all sub-national proposals put forth throughout the country this year.

The New York Department of Environmental Conservation (DEC) published new draft rules on Tuesday that would set CO2 standards for the few remaining coal plants in the state’s fleet, helping the state phase out the fossil fuel entirely by 2020.

EU carbon allowances rocketed above €15 on Wednesday for the first time since 2011 after a failed auction appeared to light a fuse under prices.

The UK's fortnightly EU carbon auction was cancelled on Wednesday due to insufficient interest, sale host ICE said.

New Zealand’s industry association for sheep and beef farmers, a major source of GHG emissions, has pledged to go carbon neutral by mid-century but wants recognition for more carbon sinks if the sector is brought into the emissions trading scheme.

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Market participants should expect an under-subscribed WCI auction this quarter along with more modest price increases in the medium-to-long term, according to analysts.

The EU’s efforts to decarbonise heavy industry are being undermined by ETS benchmarking rules that systematically block cleaner industrial alternatives from getting a foothold, according to environmental campaigner group Sandbag.

EU carbon prices slumped on Tuesday after extending a recent seven-year high in early trade and following another weak auction.

European utilities were relatively quiet in the rallying EUA market over Q1, company results suggest, representing potentially bullish news for prices as generators may now need to accelerate their EUA buying.

Almost 265 million EU carbon allowances will be withdrawn from the over-supplied EU ETS in the first eight months of 2019 and inserted into the MSR when it launches early next year, the European Commission announced late on Tuesday.

IBM and Veridium Labs have teamed up to launch a blockchain-based platform to transform carbon offsets into digital tokens for trade on a decentralised exchange, the companies announced on Tuesday.

A former Deutsche Bank sales manager has been jailed by Germany’s federal supreme court for three years for his role in facilitating tax fraud through the EU carbon market.

South Korea has pledged to meet a third of its Paris target through buying international carbon credits, and is now considering pushing that responsibility over to companies in its emissions trading scheme rather than spending taxpayer funds.

Coal-fired power generation in China rose 7.3% y/y in April, outpacing overall power output amid an ongoing manufacturing boom threatening to derail efforts to curb carbon emissions.

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The largest utility in Virginia plans on cutting output at or shutting its biomass-powered facilities, it has announced, as the US state remains undecided how it will treat the renewable energy source in its planned cap-and-trade scheme modelled after RGGI.

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The growth in trade between developing countries in the first decade of the 21st century, fuelled by the offshoring of manufacturing to lower-wage economies, has led to a surge in emissions that threatens the climate goals of the Paris Agreement, according to a study released on Monday.