Carbon Pulse

California policymakers and lawmakers must provide greater certainty on their authority to implement the state’s WCI-linked cap-and-trade programme after 2030 in order to hit the state’s ambitious GHG reduction targets, a watchdog report said Friday.

RGGI Allowance (RGA) values rose slightly for the second consecutive week even as transacted volume cratered, with market experts pointing to elevated 2022 CO2 output as one of multiple possible drivers.

California’s WCI-linked cap-and-trade programme reduced air pollution disparities between disadvantaged and other communities in a recent study covering 5% of the state’s reported emissions, potentially allaying concerns that market-based programmes present an equity-efficiency trade off, according to the findings of a new study.

US biofuel credit (RIN) values receded over the past week to levels not seen since December, as traders pointed to the lasting impact of a court ruling on Renewable Fuel Standard (RFS) compliance waivers and strong potential credit generation numbers in January.

The EU’s carbon border adjustment mechanism (CBAM) will help increase scrap recycling in steel production, according to a recently-published study, which noted that framing the border policy as a key ingredient to the circular economy has several benefits.

Negotiations to finalise the EU’s revised renewable energy directive (RED) were left in tatters on Monday as senior parliamentarians reacted angrily to the cancellation of the latest round of talks over a row about green hydrogen. 

The slump in standardised nature-based offsets continued last week following the claims of widespread over-crediting in the REDD+ avoided deforestation sector, but there were signs that sought-after over-the-counter (OTC) credits may have found a floor.

Coal is set to be pushed out of Poland's power mix by 2032 due to the falling cost of renewables and increasing carbon prices, analysts said in a report published on Monday that suggests Warsaw's current phaseout timelines will be undermined by market forces.

Three new licences for large-scale carbon capture and storage (CCS) got approval from Denmark to begin work in the country’s part of the North Sea, the government announced on Monday.

EUA prices continued to strengthen by as much as 3% on Monday morning, with an extension of the recent short squeeze and supportive fundamentals driving prices back above €95.

China is considering introducing the opportunity to let coal-fired power plants covered by the national emissions trading scheme borrow permits from future years in order to ease the scheme’s short term cost impacts, according to analysts.

The governments of Canada and British Columbia along with 15 First Nations have released a blueprint for setting up a network of marine protected areas (MPAs) covering a third of the Northern Shelf Bioregion, as Pew Charitable Trusts published a mapping tool to help plan such MPA networks in international waters.

The Blue Action Fund, backed by four European governments, will channel €20 million to projects that support ecologically representative and well-connected systems of marine protected areas (MPAs) in the Asia-Pacific region, it announced over the weekend.

A New Zealand carbon trader has launched a parliamentary petition demanding the country’s House of Representatives urge the government to implement the ETS price settings recommended by the Climate Change Commission (CCC).

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

Analysts lowered their average California Carbon Allowance (CCA) price forecasts for 2023 on weaker industrial emissions and heavier offset usage, but retained prior RGGI price forecasts as they expect annual deficits to continue despite Virginia’s impending exit, according to a recent report.

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The European Commission on Friday launched a call for applications for the renewal of the membership of an expert group tasked with helping to implement the EU's Innovation Fund.

The Sr. Financial Analyst is charged with analyzing data, both quantitative and qualitative, to help contextualize business opportunities in a fast-evolving space, and validate investment decisions for CO2 removal/reduction projects to support the Low Carbon Initiatives’ department goals

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