Carbon Pulse

South Korean carbon allowances fell 8.2% in Tuesday trade to hit their lowest value since early January as the economic downturn brought on by the coronavirus continues to bite, casting doubt over the worth of banking permits to next year.

Australia has delayed by a year the transition to new emission baselines for companies covered by the Safeguard Mechanism as the ongoing coronavirus crisis is making it difficult for emitters to submit new baseline applications in time for the original deadline.

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

The Congress of Mexico’s Baja California has passed a proposal that will see the Pacific Coast state impose a new emissions levy at a higher rate than the federal CO2 tax.

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The UN's CORSIA flight offsetting scheme could fall to pieces if the EU abandoned it, the bloc’s transport commissioner said on Monday during a hearing with European lawmakers sceptical of aviation body ICAO's climate ambition.

The European Commission on Monday launched a consultation on an initiative to tackle GHG emissions and energy efficiency from buildings, which may see a portion of ETS revenues used to finance the EU’s so-called "renovation wave".

California electricity sector emissions climbed year-on-year during March as the coronavirus pandemic forced a statewide ‘shelter-in-place’ order, with natural gas-fired generation making up a larger share of the state's power, according to California Independent System Operator (CAISO) data.

US biofuel credit (RIN) values have held in a narrow range over the past three weeks, coming amid the EPA giving regulatory relief to a bankrupt company on its overdue Renewable Fuel Standard (RFS) obligations and another regulated party indicating it will challenge a lower court’s ruling on small refinery exemptions.

European carbon prices eased on Monday, as competing bullish and bearish forces continued to keep prices stuck around €19.

One of the project developers that bid successfully at Australia’s March Emissions Reduction Fund (ERF) auction has already completed delivery under the contract, Clean Energy Regulator data showed.

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

Compliance entities increased their California Carbon Allowance (CCA) positions on the secondary market as speculators moved their holdings further out on the curve, according to US Commodity Futures Trading Commission (CFTC) data released Friday.

Companies regulated by the EU ETS exchanged over 27 million Kyoto Protocol offsets for EUAs in the past 12 months, ramping up the practice with just a year left for emitters to tap this cheaper compliance option.

More than 330 million more carbon allowances will be withdrawn from the EU ETS through next summer and inserted into the MSR, the European Commission announced late Friday in its annual 'TNAC' update, with the market's oversupply falling by over 16% from 2018 levels.

The Oregon Department of Environmental Quality (DEQ) will largely commence rulemakings in 2021 to develop a cap-and-reduce programme and strengthen the state’s clean fuel standard, while several related efforts from Governor Kate Brown’s (D) climate-based executive order will begin sooner, the agency said Thursday.

The EU Parliament’s regional development committee will on Tuesday debate its position on the proposed €7.5 billion Just Transition Fund (JTF), with the lead lawmaker proposing its size to be raised by more than €10 billion.

The Virginia Department of Environmental Quality (DEQ) will make changes this month to its previously passed RGGI-modelled ETS regulation to accommodate state-run auctions in 2021, a regulatory source told Carbon Pulse.

The EU should set a 65% emissions reduction target for 2030 and work towards an 80-85% objective in 2040, aided by a Union-wide carbon budget and the establishment of an independent scientific committee, the lead MEP for the 27-nation bloc’s climate law has proposed in a draft report.