Carbon Pulse

consultant to develop and deliver an online climate change training module on Advanced TCFD – Applied Scenario Analysis for investment professionals in Asia.

European carbon prices extended Friday's record highs in early trade on Monday amid solid gains across the energy complex, as equities rallied and crude oil rose to a three-year high.

As the likelihood increases that Australia will commit to a 2050 net zero target ahead of the Glasgow COP talks, analysts said Monday such a pledge would be unlikely to have a near-term impact on domestic carbon credits.

Australia’s agricultural sector should not be exempt from a nationally-set target to reach net zero emissions by 2050, according to a report released on Monday by an energy policy think tank.

Germany is set to head into coalition negotiations once again after exit polls suggested Sunday’s election failed to determine a clear winner, with the tension between energy prices and legal obligations under the country's Climate Protection Law due to be key sticking points in determining who will rule Europe's biggest economy.

Gunvor's head of emissions has parted ways with the trading house, joining the wave of wide-reaching staffing changes this year as carbon market experts become hot commodities themselves amid soaring permit prices.

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

Norwegian Air Shuttle has been fined NOK 400 million (€40 mln) for failing to comply under the EU ETS, despite data showing the airline had a sufficient supply of allowances for that year and managers taking home hefty bonuses this year.

A London-based fund with a focus on global carbon markets opened a RGGI CO2 Allowance Tracking System (COATS) account on Friday, with the new speculative account aligning with a broad trend over the past several months.

WCI compliance entities continued to add to their open short positions over the past week, while speculators’ holdings remained roughly static, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

An environmental NGO-led initiative is currently demoing a methodology for scoring voluntary carbon market (VCM) project types and programmes, and the group hopes that its financial independence from voluntary emissions reduction (VER) issuances or services will help differentiate it from other entities also seeking to grade credits in the booming sector.

Alberta compliance offset prices ticked up this week after Canadian Prime Minister Justin Trudeau won re-election, but traders believe credit values are likely to hold steady until the province’s 2022 Technology Innovation and Emissions Reduction (TIER) price is confirmed.

A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including developments in Oregon…

Rising EUA prices are playing a role in rising energy prices but have not had a material impact on European headline inflation to date, according to the European Central Bank. 

EU Allowance prices advanced on Friday in line with a move up across the energy complex, while UKA buyers increased their bids above £60 for the first time in an increasingly tight British carbon market.

After several weeks of record-breaking increases, New Zealand carbon allowances have settled down at a level just below the all-time high, with traders waiting to see what happens next.

The price for Chinese Carbon Emissions Allowances (CEAs) came down slightly over the past week, but the overall market situation remained the same as none of the regulatory and administrative uncertainties hanging over the market have been addressed.

CLP Group, one of the largest investor-owned power businesses in the Asia-Pacific, will phase-out its coal-fired power assets by 2040 and target net zero emissions by 2050, the company announced on Friday.

Australia could risk losing access to international finance if it is perceived to lag on climate action, Treasurer Josh Frydenberg said Friday, but stopped short of committing to a 2050 net zero target.

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