Carbon Pulse

Thirteen general market participants opened Compliance Instrument Tracking Service System (CITSS) accounts over Q2 2021 as California Carbon Allowance (CCA) prices soared to all-time highs on the secondary market, data released by California regulator ARB on Wednesday showed.

A Virginia-based industry group advocated Wednesday for a court to void the state's RGGI regulation and declare the programme an illegal carbon tax, while the state argued the final rule conformed to the specific directives of the state legislature.

EU carbon prices are unlikely to see much more upside ahead of the scheduled mid-July release of major market reforms, and then they could partially unwind some of this year’s rally during the second half of 2021, analysts from a major investment bank said Wednesday.

EUAs extended their six-week high on Wednesday to close in on their all-time record, as surging gas prices and optimism about the bloc's market reforms outweighed pressure from Britain's fortnightly auction.

RGGI auction revenues could ease the burden on Pennsylvania coal communities that could see power plant closures in the coming years as more coal-fired generation becomes unprofitable, according to think-tank analysis published on Wednesday.

Japan’s environment ministry has selected 11 new carbon-cutting projects for co-funding under its Joint Crediting Mechanism, picking schemes in Indonesia, Mexico, the Philippines, Thailand, and Vietnam.

The European Commission is planning to bring international shipping into the EU ETS from 2023, with a transition period ramping up emissions coverage for the sector thereafter, according to a leaked draft.

Chinese steel giant Inner Mongolia Baotou Steel Union Co. has agreed to buy 50 million Chinese Certified Emissions Reductions (CCERs) over 25 years from a domestic forestry and paper company, a deal that could be worth up to 1 billion yuan ($155 mln).

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

The European Commission late Tuesday said the national allocation tables (NATs) determining free EU Allowance allocations for 2021-25 under the bloc’s carbon market have been finalised, bringing this year's distribution of permits a step closer following months of delays

California power demand is rising amid hotter weather on the US west coast this week, with natural gas-fired generation making up a larger share of the Golden State electricity output, according to grid operator data.

Slovenia is preparing to steer negotiations on the EU's upcoming ‘Fit for 55’ climate legislative package, which is due to be officially unveiled in two weeks, as the Balkan nation becomes the bloc's presidency holder for the second half of 2021.

European carbon climbed on Tuesday to a new six-week high, in what could be its seventh daily gain in eight sessions, as a sharp rise in gas prices and optimistic expectations surrounding the upcoming market reform proposals continued to buoy EUAs.

The Tianjin municipal government on Tuesday sold a little more than half of the 1.5 million CO2 allowances on offer at its pre-compliance auction, with the sale clearing at the price floor, some 4.5% above the trading price in the secondary market.

Australia on Tuesday released a draft method for public comment that would enable oil and gas companies to earn offsets from carbon capture and storage projects.

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

Prices for CORSIA-eligible voluntary emissions reductions (VERs) again advanced slightly this week, with one assessment hitting a new peak as some sellers are seen holding back in expectation that governments will eventually step in with regulation.

EUAs hit their highest in six weeks on Monday as details of draft carbon market reforms emerged, though prices retreated as energy prices stalled and as some traders fretted about this week's higher auction supply.

Pacific Northwest utility companies may see fewer reasons to export renewable power into California over the coming decade, after Washington and Oregon legislatures advanced climate policies that incentivize that use of clean energy.

The UK will hand out 4.36 million free carbon allowances to aviation this year under the country’s new emissions trading scheme, the government announced late Monday.