Carbon Pulse

Reaching Paris Agreement commitments could be complemented with a rising carbon price floor at a global level, the International Monetary Fund (IMF) said on Tuesday.

The start of carbon allowance auctions in Phase 4 of the EU ETS (2021-30) will be delayed due to technical reasons, the European Commission announced late Tuesday.

An agreement between EU member states on a tougher 2030 climate target could be delayed until next year if governments are not able to iron out their differences on the bloc’s long-term budget, analysts said Tuesday.

The EU ETS will be an important source of financing for the 27-nation bloc’s energy transition, but it cannot alone bridge the ‘financing gap’ needed to bring poorer member states on board with an enhanced 2030 emission goal, a senior European Commission official said on Tuesday.

India’s biggest carbon and renewable energy credit trading company is preparing to list on the BSE bourse in Mumbai in a bid to raise funds that will allow it to expand its activities.

New Zealand emissions allowances rose to new record highs yet again in Tuesday trade as available supply remains thin and traders prepare for life without the fixed price option (FPO).

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

California Carbon Allowance (CCA) values will rise off the WCI auction reserve price in the first half of the decade, with the state’s Low Carbon Fuel Standard (LCFS) and COVID-19 pandemic playing a critical role in the linked cap-and-trade programme’s future supply-demand balance, a conference heard Monday.

Emitters slashed their California Carbon Allowance (CCA) position last week ahead of the Nov. 17 WCI auction and as prices increased on the secondary market, while speculators kept their holdings nearly unchanged, according to US Commodity Futures Trading Commission (CFTC) data published Monday.

California’s cap-and-trade programme should play a central role in the state reaching its carbon neutrality goal, with more stringent CO2 allowance budgets necessary to hit this long-term abatement target, business group IETA said in a report published Monday.

The Quebec government on Monday announced that it will phase out the sale of gasoline-powered new vehicles on the same timeline as WCI partner California, as the province’s environment ministry handed out more than 4 mln additional V19 permits.

Traders anticipate the California-Quebec cap-and-trade auction on Tuesday will sell out after the last two consecutive sales went undersubscribed, with the current vintage price expected to settle at a discount to the secondary market.

Fern is looking for a Brussels-based Forest and climate campaigner to lead the NGO's work on forest biomass for energy.

Two Pacific Island nations urged the UN to advance carbon pricing plans for shipping on Monday, as nations were poised to endorse a global maritime deal that would allow the sector’s emissions to rise for another decade.

US biofuel credit (RIN) prices fell to a one-week low on Monday after EPA Administrator Andrew Wheeler suggested credit values were “out of control” and as market participants wait for details on next year’s Renewable Fuel Standard (RFS) biofuel quotas and pending compliance waiver applications.

Recent carbon neutrality and net zero pledges by some of the world’s most industrialised nations could render the EU’s proposed carbon border adjustment mechanism (CBAM) "less" necessary, the European Commission’s climate chief said Monday.

EU carbon prices spiked to a six-week high on Monday on the second major announcement of positive COVID-19 vaccine results in the past week.

Switzerland’s emissions trading registry will close for the holidays, effectively shutting down the country’s carbon market for almost a fortnight.

New Zealand carbon allowances notched their second consecutive session of all-time highs on Monday, as a lack of available supply and expectations that the market will move higher keep pushing prices up.

PF Olsen is looking for an ETS specialist for its consulting team.