Carbon Pulse

The European Parliament’s industry committee (ITRE) on Tuesday narrowly backed the raising of the bloc’s 2030 emissions goal to 55%, though opposing MEPs contested the outcome, which could give an early indication of the level of climate ambition sought by the wider assembly.

Poland’s climate ministry on Tuesday unveiled an updated 2040 energy strategy, planning an accelerated shift away from coal power but without giving a phaseout date.

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Concerns remain around the “murkiness” of the global voluntary carbon trade, but two of the main offset certifiers keeping the market running are confident that a new era of increased participation and scrutiny, including by the financial sector, will bring much-needed transparency and investor confidence.

Financial organisations in China’s Guangdong province and territories of Hong Kong and Macao have founded a ‘Green Finance Alliance’ that has developing a regional carbon trading market as one of its major ambitions.

EUAs hit a two-week low below €27 on Monday as the market struggled to absorb a hefty auction, in what will be the biggest sale supply week of the year so far.

The Western Australia EPA on Monday backed Mitsui’s plans for a new gas-fired power plant that would buy carbon offsets as part of a strategy to put it on a path towards net zero emissions by 2050.

Market observers expect the Australian government’s Emissions Reduction Fund (ERF) will have to pay at least in line with the previous round’s record prices to secure significant emission reductions at this week’s auction.

This position will include improving and managing internal processes for company, developing the company brand and expanding supply by bringing more eligible forestry projects into the portfolio.

The Senior Analyst role within Climate Change Operations underpins the expertise on forest carbon accounting and reporting in the NZETS.

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Speculators bolstered their California Carbon Allowance (CCA) positions for the second consecutive week, as compliance entities trimmed their holdings by more than 1 mln for the first time since June, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

EUAs fell on Friday despite a decent auction result, as more selling in equity markets carried over to carbon.

EU carbon prices are expected to “tread water” around current levels near €27-28 for the remainder of the year before rising to a new all-time high in 2021, analysts said Friday.

Saudi Arabia won’t push CO2 pricing under its climate initiatives for the G20 Presidency this year, instead favouring a loose framework aiming to stimulate demand for carbon removals, according to a senior government envoy.

The RGGI Q3 auction settled at a 10-cent premium to the secondary market as compliance entities ramped up purchases and bucked market expectations prior to the sale, according to data published Friday. 

California Low Carbon Fuel Standard (LCFS) credit prices rose to a one-month high this week as activity on bourses ICE and Nodal Exchange picked up after a quiet summer.

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

New Zealand is considering whether to earmark proceeds from NZU auctioning from next year, with purchasing international carbon credits and funding emission cuts at home among the options, according to government documents.

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