Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 38 min ago
CP Daily: Friday May 7, 2021
A daily summary of our news plus bite-sized updates from around the world.
Categories: Around The Web
WCI emitters, speculators add length as allowance prices continue bull run
WCI compliance entities and speculators added length in the California Carbon Allowance (CCA) market this week as prices continued on a bull run fuelled by increased financial interest and rising 2022 floor outlooks, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
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Stakeholders seek changes to TCI carbon market, as industry calls CO2 goals “pipe dream”
Stakeholders are advocating for a variety of technical tweaks to the Transportation & Climate Initiative Programme’s (TCI-P) draft cap-and-trade regulation, while industry groups claimed the four participating US jurisdictions’ CO2 reduction goals were unachievable.
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UK environment agency rates domestic offsetting methods
The UK’s Environment Agency has rated domestic offsetting methods, attempting to form preferences for meeting its own net zero emissions goal and potentially setting a useful precedent for how other entities can follow.
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Norway’s Yara targets $23/tonne for agriculture-based VERs in new global alliance
Norwegian fertiliser company Yara launched a new business on Friday aimed at generating voluntary emissions reductions (VERs) from farmlands worldwide at upwards of $20 per tonne, adding to the spate of agriculture-focused carbon programmes unveiled in the past year.
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California power emissions rise YoY in March, as Q1 output continues to outpace 2020
California power sector emissions increased for the third consecutive month in March as electricity demand rose across the Golden State, according to California Independent System Operator (CAISO) data released this week.
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European Commission publishes another year’s worth of EU ETS trading records
The European Commission this week published another year's worth of trading records from the EU ETS emissions registry, offering a comprehensive glimpse of how carbon units equivalent to over 9.3 billion tonnes of CO2 were shifted across more than 30,000 transactions between May 2017 and Apr. 2018.
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US Carbon Pricing and LCFS Roundup for week ending May 7, 2021
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 California, New York, and Virginia.
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EXCLUSIVE: Swedish miner sues Brussels over carbon allocation benchmarks
Swedish miner LKAB has filed a lawsuit against the European Commission over new benchmarks used to determine the free allocation of carbon allowances for steelmaking, according to documents seen by Carbon Pulse on Friday.
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Singapore, Japan ministers to steer Article 6 talks ahead of July meeting
Singapore and Japan will steer international emissions trade talks on the Paris Agreement's Article 6 rulebook to a July ministerial-level meeting, according to Alok Sharma, President of the COP26 UN climate negotiations.
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EU Market: EUAs hold near €50 as EC climate chief allays intervention fears, flags need for higher prices
EU carbon held near record levels above €50 on Friday amid signs of continued investor inflows and as Europe's climate chief played down prospects of market intervention over soaring EUAs, while calling for even higher prices.
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Major European airlines struggle to recover from pre-COVID levels in Q1
Two of Europe’s major airline groups have flagged difficulties in recovering from the COVID-19 crisis in Q1 2021, but expect demand to ramp up in the coming quarters as lockdown restrictions ease and vaccination rates accelerate.
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Value of US carbon allowance ETFs tops $250 mln on accelerating investor interest
The combined value of the two US-listed carbon allowance ETFs has topped a quarter of a billion dollars as investor cash continues to flood in.
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Brussels should be “very careful not to intervene” in EU carbon market, says Commission’s climate chief
The European Commission should be “very careful not to intervene” in the EU ETS amid the recent speculator-led rally that has brought allowance prices to a record above €50 this week, the bloc’s climate chief said Friday.
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Mitsubishi, South Pole to set up carbon removal purchase facility
Japanese conglomerate Mitsubishi and Switzerland-headquartered developer South Pole are planning a facility to assist companies in purchasing $300-800 million worth of carbon removals offsets a year.
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CP Daily: Thursday May 6, 2021
A daily summary of our news plus bite-sized updates from around the world.
Categories: Around The Web
*Climate Policy and Carbon Markets Analyst/Consultant/Advisor, International Carbon Action Partnership (ICAP) – Berlin
*PREMIUM LISTING (viewable by non-subscribers until June 7) – For ICAP’s Secretariat based in Berlin, Germany, we are now seeking to recruit an analyst, consultant or advisor – candidates will be employed in one of these roles based on their level of prior professional experience.
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NA Markets: Investor inflows fuel additional CCA gains, RGGI prices increase on compliance demand
Speculators continued to fuel bullish pressure for California Carbon Allowances (CCAs) on the secondary market this week, as RGGI allowance (RGA) prices hit a two-month high with an uptick in compliance demand.
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Provincial Policy Advisor, Nature United – Toronto/Flexible
Nature United seeks a proven and dynamic Provincial Policy Advisor to work with the Director of Strategic Partnerships and conservation program leads to develop and implement strategies to advance provincial and territorial government relations and achieve Nature United’s conservation goals through public policy, funding, and programming.
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Utilities Enel, Uniper report a rebound in power output for Q1
European utilities Enel and Uniper both reported a year-on-year rebound in power output for Q1 on Thursday, with last year’s generation levels disrupted by the start of the coronavirus crisis and dampened by warmer weather.
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