Carbon Pulse

Eleven entities opened California-based Compliance Instrument Tracking System Service (CITSS) accounts to participate in the WCI carbon market during the second quarter as five others closed theirs, data from state regulator ARB showed Tuesday.

California Low Carbon Fuel Standard (LCFS) credit values continued their downward trend on Tuesday ahead of utility Pacific Gas & Electric’s (PG&E) latest auction.

EU Commissioner for Energy Kadri Simson is optimistic about the bloc’s ability to raise its 2030 emissions target to 55%, stressing the need to cut GHG output from heavy industry and to spur energy efficiency in buildings at an online event on Wednesday.

California’s compliance offset approach does not eliminate the risk of over crediting emissions reductions from approved protocols, but further analysis and changes could minimise that outcome, according to an updated research report.

Democrats on a US House of Representatives climate committee unveiled a sweeping roadmap to decarbonise the economy by mid-century on Tuesday morning, including through carbon pricing and transitioning the Renewable Fuel Standard (RFS) into a nationwide Low Carbon Fuel Standard (LCFS).

EUAs raced to a nine-month high above €27 on Tuesday, jumping by more than 60 cents within a few minutes to reverse early losses in volatile month-end trade.

Project developers ALFA have received around 420,000 carbon offsets for two programmes in Australia’s Northern Territory aiming at reducing the risk of late dry season wild fires, in the Clean Energy Regulator’s latest credit issuance.

New Zealand carbon allowances rose to new historic high records in Tuesday trade, as available supply remains modest and traders fix their eyes on 2021 market dynamics.

Greenhouse gas removal platform Puro has paused its bi-monthly auctions, favouring web sales to bolster trade in its premium-priced credits for the voluntary carbon market.

Australia’s biggest-emitting company on Tuesday announced the launch of a carbon neutral electricity product which will offer offset-backed power to customers, and plans to roll out similar options across its entire product portfolio.

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

The incoming German presidency of the Council of EU member states will keep climate policy and the bloc’s carbon market high on the agenda, as Berlin will be responsible for fostering agreements among EU nations over an upgraded level of ambition for 2030.

California regulator ARB will begin tagging in-state offset credits that meet the requirements of yielding direct environmental benefits to the state (DEBs) in the coming weeks, with an application also expected to potentially qualify out-of-state projects with that distinction.

The EU needs to broaden its debate beyond a proposed carbon border adjustment mechanism in order to deal with carbon leakage and competitiveness issues thrown up by its climate ambition running ahead of that pursued by its main trade partners, argue Andrei Marcu, Michael Mehling, Aaron Cosbey of think-tank ERCST.

EUAs surged to near €27 on Monday to hit their highest so far this year, rebounding by almost 10% from early weakness as speculator buying drove a strong auction result and widespread short-covering.

French President Emmanuel Macron will put forward in September new climate legislation based on citizen proposals and push for more climate ambition at EU level, he said on Monday following a major setback in local elections.

California Low Carbon Fuel Standard (LCFS) values have sagged recently on a lack of demand, even as fuel production and vehicle miles travelled picks up and the transportation sector programme’s price ceiling takes effect later this week.

California’s WCI-capped fuel consumption plummeted during March as a statewide ‘shelter-in-place’ order went into effect and stunted vehicle miles travelled across the Golden State, with federal data forecasting steeper drops in April.

As a Senior Policy Analyst, you will be responsible for developing and implementing programs, policies and regulations related to Nova Scotia’s Cap and Trade Program and climate change mitigation goals. You will conduct, commission and communicate research, synthesize data, carry out complex analysis and use strategic planning and evaluation to inform, develop and monitor greenhouse gas mitigation policies across key sectors and within organizations.

China’s national emissions trading scheme could generate more than 600 million surplus allowances each year due to the generous benchmarks proposed for facilities that don’t monitor their CO2 fuel factor, the International Energy Agency (IEA) said Monday.