Carbon Pulse

Big emitters have welcomed Australia’s plans on Tuesday to fund bigger emission cuts through the country's carbon market mechanisms, though analysts warned the far-reaching changes could cause a huge influx of low-quality offsets without addressing the market’s stunted demand.

New Zealand will not clarify whether or not the fixed price option in its emissions trading scheme will rise to NZ$35 this year until after 2019 compliance has been completed, the government has confirmed.

Australia on Tuesday confirmed it is planning major changes to its market-based climate policy package, which would include reforms like crediting Safeguard Mechanism entities, award credits to carbon capture and storage projects, and allow the use of renewable energy credits for voluntary offsetting.

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

Two RGGI power plants surrendered allowances last year for past carbon obligations in the Northeast power sector ETS, programme officials confirmed Monday.

UK-based Liberty House Group sold more than €100 million worth of EUAs in January and February, opting to offload units only months after the expansion of its steelmaking division across Europe.

The Senior Analyst position in Portfolio Management is anticipated to perform portfolio analysis associated with managing PG&E’s commercial activities involving RA, RPS, energy, CRR, GHG, and LCFS procurement and support various compliance reporting obligations to the CPUC, CEC, CARB, and CAISO. 

The Senior Analyst will join the BPC Energy Project policy team, a dynamic and fast-moving group that is focused on the development of pragmatic, durable federal policies that responsibly transition the U.S. to a low-carbon economy, invest smartly in the next generation of energy technologies and infrastructure, and maintain economic growth.

NCEL is currently seeking a program manager to lead NCEL’s state policy work on clean energy and climate adaptation. Their primary policy focus will be on the deployment of renewable energy and efficiency, and they will also oversee work on topics related to just transition, beneficial electrification, and climate resilience.

Price reporting agency Argus Media has cancelled its Biofuels and Carbon Markets Summit in California this autumn due to COVID-19, but the company said Monday that it may offer a digital version instead.

Attorneys general from seven refining-heavy states on Friday asked the US EPA to waive Renewable Fuel Standard (RFS) blending requirements this year due to coronavirus-induced economic impacts, as the federal agency sent its 2021 biofuel quotas for White House review.

The European Commission on Monday launched a tender to appoint a common auction platform to host carbon allowances sales during the first half of Phase 4 of the EU ETS (2021-30).

EUA prices broke above €20 for the first time this month on Monday as wider markets rose on optimism that the world was emerging from its pandemic-induced recession.

China’s Hubei province has added over 60 companies to its pilot CO2 emissions trading scheme, including the aviation sector even though its only airliner ceased operations in November.

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

Speculators trimmed their length in the California Carbon Allowance (CCA) market as the secondary market trended back towards the WCI floor price, with compliance entities adding to their holdings during that period,US Commodity Futures Trading Commission (CFTC) data showed Friday.

California Governor Gavin Newsom’s revised budget proposal released Thursday anticipates reduced revenue from quarterly cap-and-trade auctions in the next fiscal year, with a flexible mechanism to allocate funding based on future ETS proceeds.

The US Transportation and Climate Initiative (TCI) postponed the final Memorandum of Understanding (MOU) for its proposed fuel sector cap-and-trade scheme until this fall in light of the impacts from the coronavirus pandemic, according to an updated timeline released Friday afternoon.

EU member states and the UK handed out nearly half a million more free EUAs to industry for 2020 over the past two weeks, data released by the European Commission late Friday showed.

The BDI is the umbrella organisation of German industry and industry-related service providers. It represents 40 industrial sector federations and has 15 regional offices in the German federal states. The BDI speaks for more than 100,000 private enterprises employing around 8 million people.