Carbon Pulse

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

California Low Carbon Fuel Standard (LCFS) credits extended their recent losses this week as a large seller looked to offload credits and Governor Gavin Newsom (D) re-imposed several coronavirus restrictions due to surging case totals.

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

A Colorado government agency will likely finalise by the end of the month a study assessing how a transportation sector low-carbon fuel standard (LCFS) could help the state meet its enhanced GHG reduction targets, an official said Thursday.

ICAO and national governments must set a long-term and binding GHG goal for global air travel ahead of COP26 next year, while countries should consider a market mechanism for afforestation and other measures in their net zero-aligned COVID-19 recovery plans, said a report from a UN-convened group of investors released Wednesday.

RGGI allowance (RGA) prices surged to a 14-month high on the benchmark contract this week with increased compliance buying on the secondary market, while California Carbon Allowances (CCAs) ticked up despite new COVID-19 restrictions taking effect across the state.

EU carbon prices tumbled to a two-week low on Thursday after buyers struggled to absorb extra auction supply and amid weakness in wider financial markets.

Germany aims to ensure EU nations agree by year-end on a collective 2030 emissions target of 55%, the country's economy minister told EU lawmakers on Thursday, a level representing the higher end of ambition currently under consideration.

British Columbia fuel suppliers will face a less stringent Low Carbon Fuel Standard (LCFS) benchmark in 2020 due to the coronavirus pandemic, but the sector will still see the transportation programme’s emissions reduction target double by the end of the decade, the province’s Ministry of Energy, Mines, and Petroleum Resources announced Wednesday.

Members of the European Parliament’s environment committee are keeping pressure on EU leaders to use ETS funds to finance the EU’s seven-year budget ahead of a key summit on Friday.

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A major US investment firm has bought a minority stake in Australia’s biggest developer of carbon offset projects, seeking to expand the firm’s activities and enter new markets.

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

Colorado could achieve its new 2030 GHG reduction target and drive carbon abatement at a lower cost than sector-specific strategies by implementing an economy-wide cap-and-trade programme, according to a report published Tuesday.

An offset developer and verifier were aware of past regulatory non-compliance issues at a Wisconsin-based livestock project last summer, but those previous problems did not halt the progression of a new reporting period from the dairy digster under California's ETS, according to emails obtained by Carbon Pulse.

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Lawmakers on Wednesday introduced the legislation to establish a post-Brexit UK emissions trading scheme from Jan. 1, 2021.

EUAs climbed back above €30 early on Wednesday as markets lifted on COVID-19 vaccine hopes, though prices eventually tumbled nearly 3% to below €29 following a weak auction and as oil prices jolted lower.

Portuguese oil and gas company Galp Energia has recorded a loss of €60 million from “unauthorised” transactions in carbon allowances, it said Tuesday.