Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 36 min 50 sec ago
EU Midday Market Brief
EUAs extended their all-time high on Wednesday, breaking above €48 amid rising energy prices, surging investor interest, and as buyers approached their last possible moment to cover 2020 compliance.
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Carbon price could accelerate Thailand’s power sector carbon cuts -IEA
A $40/tonne carbon price and a bump in variable renewable energy capacity could shave a quarter off CO2 emissions from Thailand’s power sector by the end of the decade, according to the International Energy Agency (IEA).
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Policy, market outlook wipes out another planned Japanese coal plant
Another planned huge coal-fired power plant in Japan was put to rest this week as the government’s more ambitious climate policy and overall dubious market outlook for fossil fuels put the country on a lower-carbon path.
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Australia advances plans for voluntary carbon offset exchange
Australia’s Clean Energy Regulator is moving forward with plans to set up an exchange for Australian Carbon Credit Units (ACCUs), in a bid to boost transparency and cut costs as the nation’s voluntary carbon market expands.
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CP Daily: Tuesday April 27, 2021
A daily summary of our news plus bite-sized updates from around the world.
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Offset-spurning Nestle letting some of its brands buy carbon credits to expedite neutrality
The world’s largest food conglomerate Nestle has joined the growing number of companies mostly shunning offsets in their quest for net zero emissions, though the Swiss-headquartered firm said it will make exceptions for its brands that want “move faster” towards carbon neutrality.
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Companies should immediately plan for 2050 GHG removals to secure supply -panel
Companies with net zero pledges set decades into the future should begin planning and implementing emissions removal strategies now, both to ensure long-term credit supplies for themselves and to generate demand signals for market benefit, a conference heard on Tuesday.
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North American developers dispute usefulness of price transparency in VCM
Efforts to bring more price transparency to the voluntary carbon market (VCM) have split some North American voluntary emissions reduction (VER) developers, though they agree higher prices are key to greatly enhancing supply and satisfying heightened corporate demand, a panel heard Tuesday.
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Voluntary carbon market taskforce set to snub project co-benefits
Sustainable development has been dropped from a private-sector taskforce’s list of attributes designed to help standardise the voluntary carbon market, a group member said Tuesday in remarks that may heighten observer fears about the process skewing towards cheaper offsets.
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RGGI should examine ways to regulate imported power, increase ambition -panelists
The US RGGI cap-and-trade programme should consider incorporating imported electricity into the scheme during its upcoming 2021 review, while also increasing overall stringency, panelists said at an industry event Tuesday.
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Increased financial sector participation to dramatically change voluntary carbon market -panel
The structure of voluntary carbon markets (VCM) is expected to change dramatically as financial institutions become ever-larger participants in the space and corporate purchasing decisions shift from marketing departments to finance, a conference heard on Tuesday.
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EU’s raised 2030 emissions target to push carbon prices to €130, eliminate coal by 2030 -analysts
EU coal power could be largely eliminated this decade as the bloc’s carbon prices rise to triple digits to incentivise a cleaner energy, analysts said in a report on Tuesday, a shift in line with UN aims to limit global warming.
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RFS Market: RIN prices hit record high, while Supreme Court hears biofuel waiver appeal
US biofuel credits set an all-time high in the decade-old history of the Renewable Fuel Standard (RFS) on Tuesday, coming as refiners appealed a lower court’s decision to the Supreme Court regarding the curtailment of compliance waivers under the programme.
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EU Midday Market Brief
EU carbon prices recovered from earlier lows on Tuesday as gas prices surged on concerns over Russian supply into Europe.
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CP Daily: Monday April 26, 2021
A daily summary of our news plus bite-sized updates from around the world.
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ECOSYSTEM MARKETPLACE – Claims+Credibility: Embracing Diversification to Scale Carbon Markets
If total greenhouse gas emissions in new or updated country plans offer a mere 0.5% reduction, greater ambition is needed from governments to fill this gap. Can a robust voluntary carbon market play an important role in this context?
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California fuel consumption slumps to usher in 2021, data shows
California fuel consumption dropped year-on-year in January as COVID-19 restrictions imposed by Governor Gavin Newsom (D) continued to cause demand destruction in the transportation sector, according to state data released Monday.
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New Brunswick granted retroactive start for provincial large emitter programme
The Canadian environment ministry on Friday announced that New Brunswick will be removed from coverage under the federal ‘backstop’ output-based pricing system (OBPS), instead allowing the province to apply retroactive compliance obligations to emitters under its alternative regime.
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VCM Report: VER prices hold steady on strong nature-based demand
Voluntary emissions reduction (VER) values were largely unchanged week-on-week even with significant activity in a new exchange-traded, nature-based offset, while several forestry project developers have reportedly entered into long-term forward agreements with above-market price floors.
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NA Markets: CCAs jump on increased speculative demand, bullish outlook on 2022 floor price
California Carbon Allowances (CCA) surged on the secondary market Monday morning amid further rises in outright and spread demand ahead of the May auction, as some said the trend bore similarities to heightened speculative involvement over the 2018-19 period.
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