Carbon Pulse

EU carbon prices dropped on Friday following a weaker auction result and amid falling equity markets to end the week down 5.2%.

California regulator ARB’s next rulemaking process for the state’s Low Carbon Fuel Standard (LCFS) will not occur until autumn at the earliest as the agency deals with furloughs, regulatory sources told Carbon Pulse.

Russia is “extremely concerned” about the EU's plans to introduce a carbon border adjustment mechanism (CBAM) to prevent carbon leakage, the country's economic development minister said on Thursday.

Poland's environment ministry is drafting a law to address the wild volatility in EU carbon prices it claims is being driven by speculators, with the department's minister calling for the government to reconsider the country's participation in the EU ETS and to mull introducing its own domestic market.

Closing prices, ranges and volumes for China's regional pilot carbon markets this week.

By tweaking the rules in Australia’s offset market such as allowing method stacking, the country could unlock vast offset potential to the tune of 2.5 billion carbon credits over the next decade, according to project developers.

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The UK government has awarded £50.9 million in compensation to 61 companies for their 2019 costs relating to the EU ETS, in an effort to shield them from carbon leakage risks.

California Carbon Allowance (CCA) prices remained rangebound on the secondary market this week despite vehicle miles travelled (VMT) rising in the state, while RGGI allowances (RGAs) inched up on meagre activity. 

Ohio officials on Thursday proposed to withdraw legislation that bailed out several nuclear and coal plants and gutted the state’s Renewable Portfolio Standard (RPS), after the the Buckeye State’s House leader was arrested this week in connection with a $60-million bribery scheme related to the bill.

The European Economic and Social Committee (EESC) has called for a harmonisation of carbon taxes among EU nations to promote additional CO2 removal measures to complement the bloc’s cap-and-trade system.

The European Parliament on Thursday challenged the deal reached by EU nations on the bloc's seven-year Multiannual Financial Framework (MFF) and COVID recovery plan, citing concerns over governance and uncertainty about new sources of financing, including revenues from auctioning EU carbon permits.

California Low Carbon Fuel Standard (LCFS) credits bounced back from nearly three-month lows this week as recent-sell side pressure waned and buyers jumped in.

Seventeen northern California municipalities sued utility Pacific Gas & Electric (PG&E) this week for intentionally miscalculating city and county electricity taxes by accounting for freely allocated carbon allowances under the state’s ETS, according to court documents.

EU carbon prices jumped on Thursday amid bullish technical signals and a second straight strong auction result.

China’s National Energy Administration (NEA) has ordered the closure of 7.3 GW worth of outdated coal-fired power generation capacity before the end of the year, slashing the amount of CO2 expected to be covered in its national emissions trading scheme.

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The CBW Division is looking for an experienced policy analyst to represent, develop analysis, and provide day-to-day management of the activities of the CCXG, and to work closely with colleagues in the IEA as well as those within the OECD Environment and other OECD Directorates, under the supervision of an A4 Senior Analyst/Team Leader.

The South African government will on Thursday launch its carbon offset administration platform, which will help developers to submit project applications and emitters to surrender credits against their national CO2 tax obligations.

Utility Iberdrola reported a 32% year-on-year fall in its ETS-regulated coal-fired output during the first half of 2020, helping to slash its European thermal generation by 16%.