Carbon Pulse

The Clean Energy Regulator has issued some 723,000 new Australian Carbon Credit Units (ACCUs), as Japanese-headquartered gas company Inpex calls for LNG exemptions in the expanded Safeguard Mechanism and a local firm raises cash for future carbon projects.

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

Financial players continued adding to their California Carbon Allowance (CCA) holdings this week ahead of the Q3 WCI auction, while regulated entities shortened their positions, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

One of the world's largest REDD+ tropical forest protection projects has voluntarily slashed the number of offsets it issues amid a clash of two separate methodologies, which has reignited criticism of over crediting.

Nova Scotia Progressive Conservative (PC) Premier Tim Houston on Thursday submitted an emissions reduction plan to Ottawa that does not contain any form of carbon pricing, while the future of the province’s cap-and-trade system remains uncertain.

The European Commission on Friday approved plans by four EU member states including Germany to compensate their ETS-covered industries for indirect costs caused by power producers passing on the cost of paying for their carbon allowances.

European carbon prices have followed their now-traditional course in August by rising on the back of the 50% reduction in auction volumes. This has happened every year since 2008 – with one exception – and is pretty much baked in to trading strategy, writes Alessandro Vitelli.

Pennsylvania on Friday seemed primed to have allowances removed from the September RGGI auction after a court did not rule on a request to temporarily lift an injunction against the state’s power sector cap-and-trade rulemaking.

EU carbon prices set a new record on Friday as sustained buying interest amid thin volumes drove prices closer to €100, taking strength from energy markets that have risen four-fold since the start of the year, while UK allowances also recorded a new all-time high.

China’s National Development and Reform Commission (NDRC) on Friday released a plan to develop and launch a unified emissions data measurement and accounting system, a move that would enhance data quality and bolster the credibility of the ETS while also aiding climate policy making and international negotiations.

EUAs extended gains for a ninth session on Friday after one of the strongest auctions of the year, reaching a new six-month high that leaves only February's all-time record in the crosshairs, while energy markets continued rising and triggering discussion of whether German industry can remain competitive.

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The allowance price in China’s carbon market has remained unchanged for more than one week with shrinking trading volume, as the still-unclear market outlook due to the lack of policy directions continues to mute market activity.

The 2030 allowance surplus in the WCI-linked cap-and-trade system will rise due to greater renewable diesel penetration and zero-emissions vehicle uptake in California, analysts said in recent report.

Australia's Clean Energy Regulator has given priority status to so-called “regeneration checks” in its compliance and enforcement procedures, it announced Friday.

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