Carbon Pulse

California Low Carbon Fuel Standard (LCFS) credits this week approached levels not seen since the coronavirus pandemic hit, while activity began to ramp up further out on the curve and forward prices narrowed against near-term deliveries.

EUAs extended their four-week high above €21 in thin holiday trade early on Thursday, continuing the week's strong gains amid bullish technical indicators.

The European Commission will next week propose an EU ETS-linked contract-for-difference support scheme for clean hydrogen as part of its wide-ranging coronavirus recovery package, according to a draft document leaked to media late Wednesday.

South Korean CO2 allowances recorded a sixth successive session of gains on Thursday, rising 6.4% on the day as several large buyers have stepped in to take advantage of the drop that took almost a quarter off KAUs’ worth earlier this month.

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Compliance-oriented entities increased their RGGI allowance (RGA) holdings after the Northeast US ETS' first quarterly sale of 2020 and as the coronavirus pandemic caused prices to briefly crash on the secondary market, according to a report published Wednesday.

California Carbon Allowances (CCAs) will stay tethered to the WCI floor price through the end of the year as a result of the coronavirus pandemic curtailing economic activity and emission output in the linked ETS, analysts said Wednesday.

Massachusetts electricity generators reduced emissions under the Global Warming Solution Act (GWSA) programme in 2019 as a result of milder weather and increased imports, but allowance prices still remained high due to illiquid conditions, a new report showed.

The European Commission will propose next year a new initiative to compensate farmers and foresters for CO2 emissions sequestration, opening the door to including market-based measures.

EUAs climbed 5% to top €21 early on Wednesday, further extending their May high as prices leapt once the market had absorbed Poland's large auction, the last sale for several days in a supply-starved holiday period.

China’s National Energy Administration (NEA) has released a draft mechanism for clean energy consumption that would expand its power market reform, an announcement coming days before the annual National People’s Congress meets to address COVID-19 recovery and the next 5-year plan.

This role at the Investors Group on Climate Change will be responsible for coordinating engagement research and analysis in alignment with the goals of the Climate Action 100+ initiative.

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

Oregon’s Environmental Quality Commission (EQC) does not have the legal authority to auction permits under the state’s potential carbon reduction policy, but alternative compliance pathways such as trading should not face a similar barrier, a state agency said Monday.

PJM stakeholders expressed various opinions Tuesday on whether a carbon border adjustment in the wholesale power grid is best for lowering emissions within the 14-jurisdiction region.

The EU ETS must be urgently strengthened to help achieve the Paris Agreement’s 1.5C global warming limit goal, the Swedish government and a network of businesses in the country including McDonald's and Coca Cola said this week, laying out detailed plans to beef up the bloc's market-based climate measures.

WCI participants anticipate limited demand for California Carbon Allowances (CCAs) at Wednesday's joint sale after prices crashed on the secondary market this spring, allowing compliance entities to pick up permits at a much cheaper rate than the auction floor price.

California officials urged a federal court to dismiss the final argument against its ETS linkage with Quebec on Monday, while arguing that the Department of Justice’s (DOJ) challenge under the US Constitution’s Foreign Affairs Doctrine represented a significant expansion of power over states.

The next seven-year EU budget must aim to raise the share of the total spending on climate action, potentially gradually increasing to 30%, a member of the European Parliament's negotiating team said on Tuesday.

EUAs held above €20 early on Tuesday, consolidating the previous session's major gains as an auction supply dip looms.