Carbon Pulse

The Canadian Parliamentary Budget Office (PBO) released an expanded assessment on Tuesday to support its recent forecast of how a federal carbon levy will impact the country’s GDP, though the analysis appeared somewhat extreme and binary in nature and did not account for a number of realities across Canada's existing pricing patchwork.

The largest organised labour group in Washington came up short of formally backing the state’s carbon tax ballot initiative, signalling a potential gap in support ahead of the July filing deadline.

European carbon extended the previous session’s seven-year high on Tuesday, crossing the €16 mark for the first time since June 2011 following a strong auction, though some traders are growing increasingly concerned that the large gains will lead to a sudden price collapse.

EU nations such as France are moving in the right direction in their efforts to impose a carbon price floor in addition to the ETS because recent price rises still leave the market and other mechanisms insufficient for tackling climate change, according to World Bank climate chief John Roome.

The future of emissions trading globally rests on whether China’s carbon market is deemed a success by the international community.

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

IFC’s Climate Business Department (CBD) has a vacancy for a Senior Operations Officer in the Climate Finance & Policy Unit, which supports action leadership on topics such as carbon pricing, climate risk, and impact measurement, as well as upstream climate business-related markets development and development of the innovative low-carbon financial instruments to mobilize more private capital. The position will be based in Washington, DC and the incumbent will report to the Manager of the Unit.

Michigan’s two largest utilities will aim to source at least 50% of their energy from clean sources in 2030 after forging an agreement with an environmental group campaigning for stricter standards.

Peru’s government has agreed to ‘nest’ two REDD projects financed by fund Althelia, claiming a global first that enables the developers to sell carbon credits abroad while later integrating with the government’s Paris emission pledge.

EU carbon prices scaled a new seven-year high above €15.50 on Monday, as a continental European holiday kept volumes low and an auction off the calendar.

EU nations handed out almost 500,000 free carbon allowances to industry over the past two weeks, the European Commission said in its final allocation update this year.

An ongoing federal court case in Australia could cause problems with carbon offset issuance to a number of the nation’s savanna burning schemes.

Chinese President Xi Jinping this weekend reiterated plans to step up his country's fight against pollution, but softened language on the role China wants to play in international climate politics.

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

The Netherlands said it will shut two of its coal power plants in 2024 and the other three before 2030 unless they switch fuels, adding further pressure to big-emitting generators ahead of the implementation of a planned domestic carbon floor price for power from 2020.

Several Californian agencies are discussing raising the carbon reduction target for natural and working lands (NWLs) in the state in order to meet the state’s 2030 GHG targets, which the departments laid out at a workshop on Friday.

EU carbon recovered from a mid-afternoon sell-off on Friday, with prices ending slightly lower in choppy trade after a bullish auction to hold above €15 for a 4.2% weekly rise.

The Senate version of a bill that would implement a carbon tax and rebate programme in New York was defeated in a legislative committee this week, the second such carbon pricing initiative to fall on the US east coast this week.

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.

Emissions covered under the EU ETS rose by 0.3% in 2017, the European Commission said Friday, confirming the small increase both reported in preliminary data released last month and predicted by analysts.