Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 38 min ago
Corporate net zero commitments incrementally improving but still “stagnant” -analysis
Companies' net zero commitments are becoming more robust, but still vary widely by sector and do not demonstrate a clear pathway to decarbonisation by 2040, according to analysis published Tuesday.
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Dominion Energy argues RGGI allowance approach is “prudent” as it carries short position into Q2
Virginia utility Dominion Energy backed its auction-focused approach to RGGI compliance amid criticism about failing to account for long-term CO2 abatement trends, while the company disclosed it held a small shortage in the regional power sector carbon market through Q1, according to public documents.
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EU presidency holder Portugal floats compromise to try to unblock negotiations on Climate Law
EU presidency holder Portugal is proposing to cap the carbon removals that can be used to meet a strengthened 2030 emissions target, according to documents seen by Carbon Pulse, in a compromise designed to unblock stalled negotiations on the bloc's Climate Law.
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EU Midday Market Brief
EUAs rose back above €44 early on Wednesday, but a challenge to this week's record levels was beaten back after a weaker auction.
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France’s Saint-Gobain launches employee-led internal carbon fund to cut CO2, invest in new projects
France’s Saint-Gobain has launched an internal carbon fund to incentivise employees to cut the building materials manufacturer’s emissions, while monetising some of those actions to fund new abatement initiatives within the firm.
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South Korea postpones carbon auctions until June
South Korea has postponed its scheduled CO2 allowance auctions for April and May amid the lowest secondary market KAU prices in more than five years, shifting the volume to the June sale just weeks ahead of the annual compliance deadline.
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CP Daily: Tuesday April 13, 2021
A daily summary of our news plus bite-sized updates from around the world.
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EU must impose mandatory checks to halt imported deforestation -report
The EU must tighten sustainability criteria for forest-risk imported commodities and introduce mandatory due diligence requirements, environmental campaigners said in a report published Wednesday.
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Minimal US carbon price could help spur investment in green assets, study finds
A modest CO2 price could help spur investment, bolster economic growth, and help the US meet long-term climate goals, with the mechanism having little impact on economic recovery from the COVID-19 pandemic, according to a new report published Tuesday.
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US businesses worth $3 trillion back enhanced Paris target at upcoming Climate Summit
More than 300 businesses and investors active in the US have called on President Joe Biden to deliver a Paris Agreement target that roughly doubles the previous commitment made under Barack Obama’s administration, according to a letter published Tuesday.
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Environmental justice, green groups aim for higher TCI prices and more equity principles in final Model Rule
Transportation and Climate Initiative Program (TCI-P) jurisdictions should raise the proposed fuel sector carbon market’s minimum and reserve tier trigger prices, while providing additional clarity and responsibility for equity advisory groups, environmental organisations wrote in public comments.
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More shipbrokers charting their own course to trade carbon
Shipbrokers are launching dedicated carbon trading desks or forging ties with market experts ahead of looming regulation and amid rising interest in mitigating the climate impact of their voyages.
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EU Market: EUAs slip back below €44 on profit-taking after hitting new record
EUAs hit an all-time high for the second straight day on Tuesday, but prices quickly fell back below €44 on losses put down to profit-taking.
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Washington senators hold firm on transportation package link, legislative reauthorisation for LCFS bill
Five Washington state senators this week reiterated their support for significant changes made to a recently-passed low-carbon fuel standard (LCFS) bill, saying any final proposal must maintain its ties to a comprehensive transportation funding package and legislative reauthorisation to earn their backing.
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Rising US inflation pushes California cap-and-trade floor price expectations close to $19.00
California’s WCI-linked cap-and-trade floor price is on track to rise near $19.00 in 2022 due to higher inflation in March, according to federal data released Tuesday.
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Australia Market Roundup: Regulator issues 230k ACCUs as biodiversity pilot kicks off
Australia's Clean Energy Regulator has issued just over 230,000 carbon credits in a little less than a week, while the government has opened funding applications for its new biodiversity pilot scheme.
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Carbon tax can put dent in Asia-Pacific emissions, IMF says
A carbon tax of $25/tonne could put a significant dent in Asia-Pacific greenhouse gas emissions, but would have to be raised to three times that level to be in line with a 2C or lower global warming target, according to the International Monetary Fund (IMF).
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Tighter ETS settings could make huge difference for China’s power emissions -IEA
An emissions trading scheme with steadily tightening benchmarks and increased use of auctioning could cut CO2 emissions from China’s power sector by over 1 billion tonnes by 2035, according to the International Energy Agency (IEA).
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CP Daily: Monday April 12, 2021
A daily summary of our news plus bite-sized updates from around the world.
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Major investors BlackRock, Temasek join forces to combat climate change
Two of the world’s largest investment firms have teamed up to fund next-generation solutions to cut greenhouse gas emissions.
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