Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 35 min ago
New York, Washington state lawmakers introduce LCFS legislation
New York and Washington Democrats pre-filed low-carbon fuel standard (LCFS) bills ahead of the start of each state’s legislative sessions, building on increased subnational momentum in recent months to enact the market-based clean fuels programmes.
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California gasoline consumption continues to lag, as diesel inches closer to 2019 levels
California gasoline and diesel consumption fell in September as the COVID-19 pandemic continued to temper demand across the Golden State, likely leading to lower fuel sector emissions under the WCI-linked carbon market, according to state data.
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Former Romanian minister accused of bribery involving EU carbon allowances
Romania's president has requested a criminal investigation be launched against a former environment minister accused of bribery and instigating embezzlement, in a case involving the exchange of free EU carbon allowances for metal products.
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EU Market: EUAs lift back above €33 as US Senate vote lifts markets
EUAs jumped back above €33 on Wednesday, defying weaker energy prices in a late surge coinciding with wider markets rising in anticipation that Democrats would gain control of the US senate.
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RGGI Q1 auction notice alludes to bank adjustment amount, as prices hit all-time high
The Northeast RGGI cap-and-trade scheme has shifted Q1 auction volume for the programme's upcoming five-year surplus bank adjustment, with more than 18 million allowances withheld from quarterly sales, according to a Carbon Pulse analysis.
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EU carbon border tax is preferred design option in key CBAM consultation
Setting a carbon border tax on imports is the preferred option among respondents to a key consultation on the EU carbon border adjustment mechanism (CBAM), the results of which are meant to inform the European Commission’s design and implementation of the measure.
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Trading house Trafigura to consider offsets to help meet its first GHG goal
Swiss-based commodities trader Trafigura set its first emissions reduction target on Wednesday, aiming to cut its scope 1 and 2 emissions by at least 30% under 2020 levels by the end of its 2023 financial year.
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CP Daily: Tuesday January 5, 2021
A daily summary of our news plus bite-sized updates from around the world.
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ANALYSIS: Climate ambition gap following Paris NDC deadline leaves task to major emitters
Most countries have missed a year-end deadline to update and enhance their GHG reduction commitments as the Paris Agreement took effect on Jan. 1, putting more focus on the need for greater climate ambition from large emitters this year to help close the gap to achieving the pact’s temperature goals.
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California wins delay in Trump administration lawsuit challenging Quebec carbon market linkage
A federal court granted California and WCI, Inc. a filing extension on Monday in a US Department of Justice (DOJ) lawsuit challenging the Golden State’s cap-and-trade linkage with Quebec, pushing the timeline of the case well into President-elect Joe Biden’s tenure.
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Massachusetts sells out first 2021 GWSA carbon auction as allowance prices slump
Massachusetts sold all 1.6 million allowances for its in-state Global Warming Solutions Act (GWSA) cap-and-trade programme last month, with permit prices in the power sector scheme continuing to slide downward, according to an auction report.
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EU Market: EUAs slip back below €33 on weaker energy, technicals
EUAs dropped below €33 on Tuesday, giving back much of the previous session's record-setting gains after breaching technical support and amid pressure from weaker energy prices.
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Senior/Policy Advisors (x2), COP26 Energy Transition, E3G – London
E3G is looking to recruit two roles to support the UK COP26 Presidency Energy Transition Council. The roles will also provide practical support and expertise to E3G’s broader efforts on energy transition, working with governments, civil society, philanthropy, and the private sector.
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RFS Market: RIN prices trend toward $1 mark and set new three-year high
US biofuel credit (RIN) prices under the Renewable Fuel Standard (RFS) set a fresh three-year high this week on a lack of sellers and as a federal administration under President-elect Joe Biden (D) gets set to take office later this month.
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RGGI Q1 auction volume skyrockets with Virginia linkage
The Northeast US RGGI carbon market will offer 23.5 million allowances at the March auction with the inclusion of Virginia this year, while the quarterly sale will also include the supply-curbing Emissions Containment Reserve (ECR) for the first time.
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Virginia activates 27 compliance accounts as it joins RGGI
Virginia opened RGGI compliance accounts for regulated parties this week as the state entered the regional power sector cap-and-trade programme on Jan. 1, according CO2 Allowance Tracking System (COATS) data.
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China adopts ETS trading rules as carbon market gets closer to going live
China on Tuesday published final regulations for its national CO2 emissions trading scheme, meaning the market will be formally in operation from Feb. 1 despite technical issues with the registry and trading platform.
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CP Daily: Monday January 4, 2021
A daily summary of our news plus bite-sized updates from around the world.
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EU Market: EUAs set new record above €34 as cold snap bites
EUAs hit a new all-time high on Monday as cold weather prospects lifted the energy complex and allowance supply curbs continue to drive bullish sentiment, while data showed a significant 10-20% drop in investors and other financial market participants.
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ART programme approves five Central and South American jurisdictional REDD concepts
The Architecture for REDD+ Transactions (ART) on Thursday announced it has approved the first five submissions for jurisdictional deforestation reduction programmes that may generate carbon credits for use in international emissions trade.
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