Carbon Pulse

California offset registries are not experiencing any operational delays since the outbreak of the coronavirus pandemic, though discussions are continuing on providing additional flexibility for developers of WCI-eligible credits.

EUAs climbed above €17 early on Monday, defying losses in oil and equity markets as a strong auction performance and technicals lent support.

EU carbon allowances are unlikely to trade back above €20 any time soon, analysts said, slashing their 2020 price estimates by more than 20% due to the coronavirus outbreak.

Disruptions to supply chains and factory shutdowns in Italy and Spain as a result of the coronavirus pandemic are severely affecting EU heavy industry and their ETS emissions output, with the sector was already reeling from declining output before the outbreak started.

New Zealand carbon allowances rose 3.5% in Monday trade amid healthy demand, and have now clawed back over a third of the COVID-19 driven losses suffered over the past two weeks.

Japan announced an updated Nationally Determined Contribution (NDC) under the Paris Agreement on Monday, but the nation will not increase its 2030 climate ambitions.

Spain on Saturday ordered the closure of all 'non-essential businesses, including a number of factories, after the number of deaths from the coronavirus reached a new high.

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

Speculators slashed their California Carbon Allowance (CCA) holdings for the second consecutive week as several firms were forced to liquidate positions amid fears of a global recession and spreading coronavirus pandemic, according to US Commodity Futures Trading Commission (CFTC) data.

The US EPA on Friday afternoon postponed next week’s deadline for small refineries to surrender biofuel credits against their Renewable Fuel Standard (RFS) obligations in light of the COVID-19 pandemic, while also addressing a recent court decision on the policy’s compliance waiver programme.

The California Independent System Operator (CAISO) is seeing a reduction in power usage due to the statewide shelter-in-place order announced last week to combat the coronavirus outbreak, likely cutting entities' compliance obligations for the sector in the WCI-linked ETS.

Manitoba will delay the introduction of its proposed flat carbon levy and large emitter programme as the COVID-19 outbreak has caused the Canadian province to reassess its financial situation, Premier Brian Pallister said Thursday.

EUAs slipped back below €17 early on Friday as markets fretted that the spiralling coronavirus was eclipsing any government efforts to stimulate economies.

Closing prices, ranges and volumes for China's regional pilot carbon markets this week.

This month’s 40% collapse in EU ETS carbon prices amid the spreading coronavirus may be an overreaction given the so-far more limited impact on power and industrial emissions, analysts said on Friday.

Australia’s Clean Energy Regulator this week issued its second-ever batch of carbon credits to a soil carbon project and registered two others, while the overall number of new offsets and deliveries to the ERF fell.

Woodside Energy will defer until next year investment decisions on three major LNG projects in Western Australia, for which the company has said it expects to have to buy tens of millions of carbon offsets over the next few decades.

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

UN aviation body ICAO will look to endorse a second round of programme applications for its global offset system CORSIA by the end of the year, with that decision potentially occurring after countries attempt to forge the rulebook of international emissions trading under the Paris Agreement at COP26, according to an updated timeline.

E3G is looking for an enthusiastic practitioner to lead E3G’s work on Europe-China climate diplomacy and cooperation in its London office.