Carbon Pulse

China’s recently launched national emissions trading system (ETS) has been both lauded and loathed by pundits. Some see it as hugely important, while others see it as little more than virtue signalling. The reality is somewhere in the middle, writes TransitionZero's Matthew Gray.

Jilin Electric Power said Sunday night that it will build a provincial voluntary carbon reduction market, with the help of the Shanghai environment exchange, the latest local effort to participate in the country’s emerging but still unclear voluntary market.

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

California’s Low Carbon Fuel Standard (LCFS) registered a 3% draw on the bank during the first quarter of the year, as heightened deficit generation from gasoline and lower ethanol and biodiesel volumes helped shrink the cumulative credit bank to under 8 million tonnes.

Some 10 nations submitted revised nationally determined contributions to the Paris Agreement on Friday, a day ahead of a deadline for including the pledges in a major UN report.

WCI speculative firms bolstered their California Carbon Allowance (CCA) positions this week as prices declined on the secondary market, while emitters cut their net holdings for the first time in two weeks, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

CO2 emissions rose significantly over the second quarter for emitters regulated in the Northeast US RGGI cap-and-trade programme as COVID-19 precautions were eased, with the cumulative six-month figure running close to estimated compliance holdings after the June auction.

The UK’s carbon market Cost Containment Mechanism’s triggers for the next three months were invalidated on Friday, with July’s drop in UKA prices averting any potential near-term supply-side intervention.

A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including developments in Pennsylvania and Illinois.

A multi-trillion dollar investment firm opened a fund on Thursday that appeared to focus on California Carbon Allowances (CCAs), according to US Securities and Exchange Commission (SEC) data.

Private equity investor Bridgepoint has bought a minority stake in Amsterdam-based environmental and energy commodities trading company ACT, which said the move will help expansion plans including more than doubling its headcount within five years.

EUAs fell back amid a widespread sell-off in energy markets on Friday morning, after Thursday's sharp rally led by natural gas gave way to profit-taking as the month drew to a close.

Two of Europe’s major airlines are relying on the easing of restrictions across the continent to rebound from the COVID-19 crisis, but their long-term recovery outlook remains uncertain.

The Clean Energy Regulator has issued more than 430,000 new carbon credits this week, while the government on Friday said it has introduced regulations that ensure it can use the renewable energy agency ARENA to fund new technologies, including offset-eligible CCS and soil carbon.

The Chinese Carbon Emissions Allowance (CEA) price edged down this week as liquidity thinned further, a trend market participants said may continue until more companies are given market access.

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

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*PREMIUM LISTING – This full-time position will be responsible for working on regular standard updates to align with Gold Standard's strategy and new market developments. The role also includes the review of new carbon accounting methodologies and managing the auditor approval process for Afforestation/Reforestation (A/R) and Agriculture (AGR) projects.  

The Originator will work within the Environmental Products Trading team. This role is expected to identify, develop and deliver deals that enrich the funnel of opportunities in Environmental markets and generate material and sustainable contributions to the global trade book.

California Carbon Allowance (CCA) prices dropped further this week as traders began to turn their attention to next month’s quarterly WCI sale, while RGGI Allowance (RGA) values climbed closer to the $9 level on heightened speculative interest.