Carbon Pulse

American businesses are being warned of looming export carbon costs ahead of Thursday’s infrastructure bill vote, which could leave the $3.5 trillion reconciliation package and its CO2 price component in limbo amid Congressional negotiations. 

The US Department of Agriculture (USDA) on Wednesday outlined a new climate programme to benefit the agriculture and forestry sectors, and is requesting public input on how the voluntary carbon market (VCM) can fit in to the initiative.

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A green group argued Wednesday that the Virginia State Corporation Commission (SCC) must either reject Dominion’s rate request to recover nearly $168 million in RGGI obligations for failing to perform least-cost analysis or require future examination of additional compliance options.

US biofuel credit (RIN) prices jumped on Wednesday to reverse weeks of losses, coming as corn-state legislators warned the EPA against possibly lowering Renewable Fuel Standard (RFS) blending quotas.

European carbon prices could be set for further downside after setting a new record this week, as uncertainty over the EU’s 'Fit for 55' package grows amid the start of political negotiations and as lawmakers amplify calls for a limit on speculation in the market, according to an analyst.

A group of Spanish and Romanian MEPs are proposing to put forward next month a resolution in European Parliament that calls for restrictions on speculation in the EU carbon market as a way of calming soaring EU energy costs, while Czechia's Prime Minister is reportedly urging for a cap on EUA prices.

EUA prices erased a brief plunge early on Wednesday after one of the worst-supported daily auctions since the ETS began selling allowances, while energy prices were broadly firmer after Tuesday's sell-off.

Chinese steel and aluminium will be priced out of the European market when the EU’s carbon border adjustment mechanism (CBAM) kicks in in 2026, unless the sectors decarbonise fast, according to an analyst report published on Wednesday.

China has the capability to start reducing its CO2 emissions from the mid-2020s and become carbon neutral well ahead of its 2060 target date, the International Energy Agency said Wednesday.

New South Wales has upwardly revised its 2030 target to reduce emissions, to 50% from the level in 2005, an increase from its previous target of 35%, the Australian state government announced on Wednesday.

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The asset management arm of multinational manufacturing conglomerate Samsung is launching a new Korean-listed exchange traded fund to track European carbon prices.

A US-based green group this month struck a deal to preserve a section of the Belizean rainforest, with the agreement attempting to balance government and private ownership rights to voluntary emissions reductions (VERs) generated from forest carbon projects.

California Carbon Offset (CCO) prices are rising ahead of the upcoming November WCI compliance deadline amid surging allowance values and an uptick in demand, but the discount to carbon permits remains near all-time highs, data shows.

California Low Carbon Fuel Standard (LCFS) credit values exacerbated their months-long retracement on Tuesday, as traders continued to cite rising volumes of renewable diesel (RD) as the impetus for the bearish pressure.

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Ministers from up to 50 nations will gather in Milan later this week to thrash out a way forward for November’s crunch UN COP26 climate talks in Glasgow.

A Connecticut-based commodities firm opened a RGGI CO2 Allowance Tracking System (COATS) account on Tuesday, marking the fifth speculative firm to open an account this month.