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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 33 min ago
India sets up special committee for Paris target, carbon markets
India has established a new taskforce to coordinate policies to help meet its emissions target under the Paris Agreement as well as handle international and domestic carbon market activities for the world’s third biggest GHG emitter.
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Carbon developer expands Australia operations with two hires
A major international carbon project developer has beefed up its Australian operations by hiring two senior staff members.
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China’s failure on steel regulations leads to massive excess emissions -report
China's failure to implement announced capacity regulations for the steel sector and will result in additional CO2 emissions of some 200 million tonnes this year, researchers said Thursday, a case likely to raise fresh concerns on CO2 reporting in the country's ETS.
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Advisors urge UK to cut emissions at least 68% by 2030, use offsets to go higher
The UK’s official climate advisors want the government to set a 2030 target to cut emissions 68% under 1990 levels, up from the current 61%, and would support the use of offsets for effort beyond that.
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Participants bullish on Australian offset market despite policy inertia
Growing interest from large corporations and an increase in voluntary emissions targets are making sure Australia’s carbon offset market is seeing rapid growth despite the federal government’s reluctance to impose climate obligations on big emitters, a conference heard Thursday.
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CP Daily: Wednesday December 2, 2020
A daily summary of our news plus bite-sized updates from around the world.
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EU Market: EUAs bounce back to close at 2.5-mth high, as data shows building investor interest
European carbon prices bounced back on Wednesday, closing at a 2.5-month high and resuming their uptrend as data showed investors continued to build long positions.
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UK readies plans to raise climate ambition while urging more from others
The UK is considering announcing a major hike in its near-term climate ambition when it hosts world leaders next week, a move that could strengthen the country’s post-Brexit carbon pricing plans due to be rolled out in January.
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UK’s domestic land offsetting schemes merge as demand takes off
Two major UK land-based domestic offsetting standards have merged as voluntary market demand for their carbon credits soars.
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US man pleads guilty to orchestrating carbon credit investor fraud
A Georgia man pleaded guilty in US federal court on Tuesday to defrauding seven individuals in a million-dollar carbon credit scandal, having told the victims their investments in non-existent offsets would be realised through California carbon allowance auctions.
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European Council eyes stronger carbon market to win over EU leaders on 2030 climate target -draft text
The European Council has suggested strengthening the EU ETS as a way of convincing poorer member states to raise the bloc’s 2030 emissions reduction target to at least 55%, according to draft conclusions circulated ahead of a key summit next week.
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Russia’s Novatek opens first European carbon-neutral LNG fuelling station, offsetting with VCS credits
Russian gas producer Novatek has opened its first carbon-neutral LNG fuelling station in Europe, offsetting the related emissions using voluntary credits.
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RFS Market: RIN prices climb amid missed EPA deadline, few sellers
US biofuel credit (RIN) values rose this week as the EPA missed a statutory cut-off date to finalise next year’s Renewable Fuel Standard (RFS) quotas, while a lack of sellers also pushed biodiesel-based credit prices to a three-year high.
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China’s Hubei to auction 3 mln CO2 permits
Hubei province will auction off 3 million carbon allowances over two sales on Dec. 9 and 11, with the biggest restricted to ETS-regulated entities that have emitted more than their annual free allocation.
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Sales Managers, International Carbon Market, Enking International – New York/London/Sydney
EKI (Enking International) Energy Services Ltd is looking for 3 Sales Managers for the International Carbon Market, located in New York (USA), London (UK), and Sydney (Australia).
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‘Not a good time’ for carbon pricing mechanism in Japan -MP
Japan is considering a carbon pricing mechanism, but will not propose one ahead of the general election next October, a ruling party lawmaker said Wednesday.
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NZ Market: NZUs hit NZ$36 as market continues slow march into unchartered territory
New Zealand carbon allowances rose to a fresh record high on Wednesday after a two-week pause as the market remains bullish on long-term trends.
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New York finalises post-2020 RGGI changes ahead of implementation
New York finalised its post-2020 RGGI regulation on Tuesday, cementing the programmatic changes that are largely seen as bullish by market participants for the soon-to-be 11-state programme.
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CP Daily: Tuesday December 1, 2020
A daily summary of our news plus bite-sized updates from around the world.
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California offset usage declines at 2019 compliance deadline, as indirect emissions fall
California’s cap-and-trade regulated entities decreased their offset usage at this year’s interim compliance deadline for 2019 obligations, while indirect power sector emissions dropped year-on-year, according to data published by state regulator ARB on Tuesday.
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