Carbon Pulse

EU carbon prices could dip back to as low as €11, some 22% below recent highs, if investors cool their recent interest or opt to take profits from selling EUAs bought at much lower prices, ICIS analysts said on Thursday.

New Zealand’s Productivity Commission on Friday urged the government to bring agriculture into the emissions trading scheme, and pave the way for carbon prices to grow almost tenfold over the next three decades in case new technologies are slow to emerge.

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EU carbon prices jumped to a one-week high on Thursday after the day’s auction cleared at the largest premium to the secondary market in nine months.

EU carbon prices are set to double from current levels by 2021 and could quadruple to €55 before 2030 if lawmakers align the ETS’ emissions reduction trajectory with the goals of the Paris Agreement.

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California regulator ARB doled out just over 275,500 California Carbon Offsets (CCOs) this week following the zero issuance recorded earlier this month, with normally high-yielding forestry projects not receiving any credits for the first time since December.

Turkish bank Garanti outlined its shadow carbon pricing strategy on Wednesday, though the partial approach may fall short of addressing the company's ongoing investments in coal plants.

Higher EU ETS prices have helped slow the expected pace of global warming, according to London-based fund managers Schroders on Wednesday.

EU carbon prices are not rising to more elevated levels fast enough, France said on Wednesday after meeting with a small group of member states, reiterating its call for a bloc-wide carbon price floor starting with Europe's power sector.

Monthly revenues from EU carbon allowance auctions have for the first time topped the €1 billion mark, providing a major funding injection for governments as EUA prices hold near seven-year highs.

German-based energy exchange EEX increased turnover from its European environmental markets business by more than 50% in financial year 2017 after posting a sharp rise in secondary market CO2 trading volumes.

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EU carbon prices lifted to their highest levels so far this week as recent auction weakness appeared to dissipate following a spate of bearish sales.

China and the EU on Wednesday launched the three-year second phase of their emissions trading cooperation programme, a €10-million EU effort to help the world’s biggest-emitting nation to develop and launch its national cap-and-trade system.

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Efforts to incentivise negative emission activities in the US are slowly emerging, but they face huge challenges to play more than a supporting role over the next decade.

Analysts Energy Aspects have raised their EU carbon price forecasts for the third time in as many months, though warned that the market appears to be getting “jittery” amid heightened options-related risk.

European carbon prices climbed back above €13 on Tuesday after a stronger auction encouraged buyers and appeared to trigger a bout of short-covering.

After years of rapid expansion, China is slamming the brakes on solar power capacity growth this year to shift its focus onto quality control and cost reduction, senior energy officials said Tuesday, signalling a bump in the road in the country’s efforts to wean itself off fossil fuels.