Carbon Pulse

South Korean CO2 allowances rose to a 3-week high on Monday as demand lingered ahead of the June 30 compliance deadline.

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

Ontario has halted the development of its offset protocols following Premier-designate Doug Ford’s decision to scrap the province’s carbon market, leaving project developers and investors in limbo and hoping the Canadian federal government will step in to save the burgeoning industry.

An extensive climate justice bill that would have implemented a “market-based compliance mechanism” in New York along with a suite of other GHG targets and environmental justice provisions did not advance to a vote for the third year running as the state Senate wrapped up this week.

EU governments could knock as much as €5 off EUA prices and lose billions of euros of low carbon funding if they rush to auction allowances for the bloc’s Innovation Fund, according to ICIS analysts.

A single emitter in China’s biggest pilot emissions trading scheme failed to meet the annual compliance deadline, Guangdong regulators said Friday, again choosing to not disclose emissions data.

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 has terminated four more contracts through which its Emissions Reduction Fund had agreed to buy almost 4.5 million offsets.

EU carbon prices rose above €15 for the first time this week on Friday as a strong auction jolted prices upwards.

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

California regulator Air Resources Board (ARB) may take steps in its current carbon market rulemaking package to address Ontario’s planned withdrawal from the WCI cap-and-trade programme, it said Thursday, while also hitting back against past comments that it had erred in the methodology used to set the state’s post-2020 emissions caps.

North American carbon prices gained on both coasts in the last week, with California traders shrugging off uncertainty generated by Ontario’s planned withdrawal from the WCI market and RGGI prices jumping in the wake of a stronger-than-anticipated auction result.

The US owner of a Bulgarian power plant that last week contracted to buy €79 million ($91.7 mln) in EU carbon allowances has revealed the details of the deal, shedding some light on the opaque world of corporate emission unit tenders.

Brazil’s government should introduce an emissions trading system starting with extensive free allocation and a $10/tonne price ceiling, according to an academic study commissioned by business groups.

Carbon taxes can be designed with more assurances that they will cut emissions, US think-tank WRI said in a paper on Thursday, as a new group of former lawmakers launched a new campaign to tax US greenhouse gas output.

EU carbon prices climbed by more than 5% from their intraday low on Thursday, rising back towards €15 after it became clear that Wednesday’s options expiry would not trigger a large sell-off.

The Support Unit is seeking a consultant to conduct desk research and consultations with 5-8 member countries and representatives of the partnership to inform an analysis of the challenges and opportunities around mainstreaming climate change.

Switzerland has announced the dates for its next two carbon allowance auctions in what could be among the market's final sales before it links with the EU ETS.

Europe’s highest court on Thursday rejected Poland’s lawsuit seeking to annul the EU’s decision to introduce the supply-curbing Market Stability Reserve (MSR) under the bloc’s carbon market.

Ontario has indicated that it will withdraw from Canada’s national climate change plan, Prime Minister Justin Trudeau said on Wednesday, meaning the province will likely forgo hundreds of millions in federal low-carbon funding.