Carbon Pulse

The Alaska government produced a draft climate change policy this week that instructs the US state to begin looking at how carbon pricing may help achieve the state’s climate goals, though the text remained sparse on details.

Both the New Jersey Assembly and Senate approved two bills on Thursday to expand the state’s Renewable Portfolio Standard (RPS) for conventional and solar renewable energy, as well as establishing a Zero Emission Certificate (ZEC) programme aimed at supporting struggling nuclear plants.

Governments at the International Maritime Organisation (IMO) adopted on Friday an initial strategy to address international shipping emissions, including setting a 2050 target to cut emissions by at least 50% under 2008 levels.

An experienced Singapore-based energy markets executive has left Engie Global Markets.

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.

Australia’s Clean Energy Regulator this week handed out over 285,000 carbon credits, but no new offset projects sought registration despite the deadline for joining the next ERF auction being just a week away.

A new draft of Australia’s National Energy Guarantee (NEG) leaked this week addresses some technical concerns, but the federal government has yet to release an update on political issues of the scheme, such as its overall emissions target.

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The Ontario Ministry of Environment and Climate Change (MOECC) finalised two offset protocols for use in the province’s cap-and-trade programme on Thursday, while also updating a third.

Prices on both coasts increased moderately this week and trading activity picked up in the as participants returned to their desks after the NACW industry conference.

The Hawaii state senate on Tuesday approved two bills that would create a voluntary carbon offset programme and make permanent a task force designed to bolster carbon sequestration efforts in line with the state’s climate goals.

California regulator ARB this week released Low Carbon Fuel Standard (LCFS) credits for electric forklift charging in 2017, while monthly data showed that prices sank as volume picked up in both the California and Oregon clean fuels standards in March.

Governments at the International Maritime Organisation (IMO) agreed to a provisional deal on Thursday for an initial strategy to address international shipping emissions, including a 50% long-term emission cut target, with the resolution due to be signed-off officially on Friday.

EU carbon prices fell back on Thursday after a weak auction result triggered bearish sentiment already fuelled by analyst projections of a near-term correction.

A Chinese environmental NGO is suing the country's State Grid Corp., claiming 310 million yuan ($49 mln) in damages for the company’s failure to comply with a 2006 law obligating it to purchase all the renewable energy generated within its area of operation.

New Zealand’s government on Thursday moved to burnish its environmental credentials by announcing a ban on all new offshore oil and gas exploration permits in a bid to reduce carbon emissions.

European carbon prices are expected to retreat somewhat by mid-year as the market corrects following the massive 60% rally posted in Q1, according to a poll of analysts.

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California regulator ARB did not hand out any California Carbon Offsets (CCOs) on Wednesday, the first issuance round since June 2015 where no new offsets were distributed.

Finland’s government has opted to ban coal in energy production from 2029, a move that the power sector branded "cosmetic" for reducing a tiny amount of residual emissions for €100 per tonne of CO2.