Carbon Pulse

California divvied out 4 mln compliance offsets across all four active protocols this week, according to data published by state regulator ARB Wednesday, capping off a year that saw total credit issuances under the state’s WCI-linked carbon market rise 70% over 2019 levels.

With the holiday season upon us and the EU ETS’ Market Stability Reserve set to be reviewed by lawmakers in the new year, analysts have weighed in as to what’s naughty and what’s nice about the carbon market’s vital supply management mechanism, and what about it might change in the future.

EUAs climbed to within a few cents of €32 on Wednesday, moving up in thin holiday trade amid reports that a Brexit trade deal could be completed today, while data showed more investment and trading firms flocking to the market.

ICE Futures Europe, the continent's main emissions trading exchange, will launch a daily Phase 4 EU Allowance futures contract on Jan. 29, 2021 - the same day that the first permit auction for the EU ETS' 2021-30 trading period will be held.

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US President-elect Joe Biden’s cabinet and executive office nominees are likely to initially focus on undoing environmental rollbacks from the prior administration, along with advancing ambitious climate policies through regulatory or executive actions in the face of resistance from Republicans, experts told Carbon Pulse.

EUAs climbed back above €31 on Tuesday as colder weather prospects dragged up power and fuel prices, with the announcement of a date for the resumption of auctions in 2021 lending support.

Emitters in the Northeast US RGGI cap-and-trade programme markedly increased their allowance holdings in the third quarter of the year as prices climbed, according to a report published Tuesday.

Ukraine should have an ETS set up by 2023 to address EU pressure to act on climate change, according to the head of the country’s biggest private energy producer, reflecting government plans that will see emissions auditing start next year.

China’s biggest grid operator expects the country's electricity consumption will rise next year, a move likely to result in CO2 output from coal power plants rising by some 100 Mt, according to analysts.

Governments have committed $1.37 billion towards international emissions trading pilot programmes to help meet Paris Agreement goals, according to a report that charts a fourfold rise in finance inside 18 months.

New Zealand will opt for a technical reserve price at its NZU auctions after all, Climate Change Minister James Shaw has said, a move intended to ensure prices don’t drop far below secondary market levels at the government sales.

A daily summary of our news plus bite-sized updates from around the world.

Prime Minister Yoshihide Suga has instructed the environment ministry to draw up a carbon pricing proposal as an option for the country’s climate policy strategy.

The IEA is seeking a motivated individual who is passionate about the potential for clean energy technology innovation globally and has a track record of working on related analytical projects that support policy-making and investment decisions.

The World Resources Institute is seeking a senior association to lead the Sustainable Finance team's work on Development Finance Institutions, including the MDBs, NDBs, and the IMF. You will be responsible for proposing, designing, and directing policy-oriented research to promote climate ambition of the DFIs

An offset project subject to invalidation earlier this year would be unable to receive additional credits unless the developer could show the agency that the regulatory non-compliance issues had been resolved, according to emails obtained by Carbon Pulse.

The EU's Phase 4 (2021-30) carbon allowance auctions will start in late Jan. 2021, the European Commission announced late Monday, with the delay in new supply somewhat shorter than anticipated.

Four members of the US Transportation & Climate Initiative (TCI) on Monday endorsed a final Memorandum of Understanding (MOU) to implement a fuel sector cap-and-programme in 2023, with eight other members agreeing to continue to collaborate on the regional effort. 

California electricity sector emissions rose for the third consecutive month as higher demand and more carbon-emitting sources pushed year-to-date CO2 output even with last year, according to California Independent System Operator (CAISO) data.