Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 41 min 4 sec ago
ICE to delist Phase 4 daily EUA futures, offer general spot contract from early May
ICE Futures Europe will delist its Phase 4 EU Allowance daily futures at the end of April as the current bifurcation seen in the European carbon market dissipates, with the bourse modifying its Phase 3 contract to offer trade in EUAs from either period.
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Poland sees its ETS-covered CO2 output falling 10% by 2030
Poland expects to reduce its EU ETS-covered emissions 10.3% by the end of the decade, according to an energy strategy published late Wednesday that would keep coal in use far longer than experts say is needed to curb global warming.
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Xpansiv launches nature-based carbon offset product
Spot commodities exchange and market data firm Xpansiv launched a nature-based version of its Global Emissions Offset (GEO) on Thursday, building on the firm’s spot and futures offerings of its CORSIA-aligned carbon credits.
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New Zealand adopts contested CO2 auction reserve price mechanism
New Zealand lawmakers have adopted a confidential reserve price mechanism for carbon permit auctions that observers say creates greater uncertainty and adds unnecessary risk of a failed sale.
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CP Daily: Wednesday March 10, 2021
A daily summary of our news plus bite-sized updates from around the world.
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Mid-decade WCI allowance shortage could cause CCA prices to soar -analysts
California Carbon Allowance (CCA) prices could rise toward the end of the decade due to the WCI cap-and-trade programme’s tightening CO2 caps, although state and federal climate action could reduce permit demand and potentially undermine the effectiveness of the scheme, analysts said Wednesday.
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MEPs adopt scaled-down position on EU carbon border levy
EU lawmakers adopted a non-binding report on the prospective carbon border adjustment mechanism (CBAM) by a broad majority on Wednesday, but only after striking out text about removing industry's free allocation of EU carbon allowances.
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US can scale clean hydrogen with lower renewable energy costs, tax incentives -experts
Tax credits, cheaper renewables, and clear government guidance will be key to accelerating US Secretary of Energy Jennifer Granholm’s vow to scale long-neglected efforts to promote decarbonised hydrogen, an expert panel heard this week.
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UK government outlines ETS registry onboarding process, with registration opening Apr. 6
Registration for the UK’s new emissions trading registry will open on Apr. 6, the government announced late Wednesday, as it outlined the onboarding process.
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FinTwit grandee pumps EU carbon, calling it “greatest macro trade no one is involved in”
EU carbon has a new cheerleader. A major investor and one of the biggest names on ‘financial Twitter’ (or FinTwit as its followers call it) has said EU Allowances are the “greatest macro trade no one is involved in”.
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California LCFS price cap slated to rise 1.7% in June
The California Low Carbon Fuel Standard (LCFS) price ceiling will increase nearly 2% this spring, according to federal data published Wednesday, but current credit values on the secondary market remain well below this level.
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Quebec examining feasibility of five new offset protocols
Quebec is exploring the feasibility of five additional offset protocols to help boost the supply of credits in its WCI-linked cap-and-trade programme, the government said on Wednesday, days after it announced amendments to the carbon market regulation to ease the approval of new methodologies.
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EU needs its own climate change council, say national advisory bodies
Fourteen national and regional environmental advisory bodies have backed a European Parliament call for the EU to have its own expert Climate Change Council, a show of support that could help seal a compromise in negotiations to finalise the bloc's Climate Law.
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New York examining penalty options for delinquent RGGI facilities
At least three Empire State-based RGGI facilities could face some penalties for failing to comply with the cap-and-trade programme’s triennial compliance deadline last week, potentially forcing the utilities to surrender additional allowances, New York officials confirmed to Carbon Pulse.
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EU Midday Market Brief
EUAs extended their record high for a second straight day on Wednesday, rising to near €42 amid supportive energy prices, as trading data showed some types of firms had amassed record-sized positions while more financials were following investors into the market.
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Regulator expects continued growth in Australia’s carbon offset market
Issuance of Australian carbon credits are expected to increase by more than 6% this year, while domestic emitters are set to retire over 1 million domestic offsets for voluntary purposes for the first time, though that number remains well below the use of international units, the Clean Energy Regulator said Wednesday.
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CP Daily: Tuesday March 9, 2021
A daily summary of our news plus bite-sized updates from around the world.
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Shopify and Carbon Engineering announce largest ever direct air capture purchase
Canadian e-commerce company Shopify on Tuesday announced a contingent forward agreement to purchase direct air capture (DAC) CO2 removals via a new service from British Columbia-headquartered Carbon Engineering, in what the companies said was the largest publicly announced corporate procurement from the technology to date.
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Impact investor Capricorn gives backing to venture building nature offsets portfolio
Impact investor Capricorn has taken a stake in a UK-based financier helping the venture to build a pool of nature-based offsets intended to be sold to buyers under long-term contracts.
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US-based investment bank opens second RGGI account after new hire
A major investment firm opened an additional RGGI CO2 Allowance Tracking System (COATS) account this week after hiring a new environmental trader earlier this year, data showed this week.
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