Carbon Pulse

Sweden is inviting carbon-cutting cutting projects in the Dominican Republic to bid to be the first initiatives that could ultimately deliver Paris Agreement-era carbon credits to the Nordic country.

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 North Carolina.

UK carbon prices have fallen to an “unexpected” discount to EU Allowances as utilities have held back from swapping EUAs for UKAs and investors have mostly stayed on the sidelines, according to a panel of experts.

EUAs remained firmly entrenched in a range either side of €53.00 as the week neared its end, while UKAs continued to recover from their record low.

Modifying the supply-managing Market Stability Reserve (MSR) of the EU ETS to maintain its current ambition level will be a separate, "quicker" process to the legislation of the European Commission’s larger ‘Fit for 55’ climate package, a senior EU official said Friday.

Hong Kong will explore opportunities in establishing itself as a carbon trading centre for mandatory carbon markets both in mainland China and internationally, with an initial focus on the Guangdong-HK-Macao greater Bay region.

The 13th Emissions Reduction Fund (ERF) auction will be held on Oct. 13-14, the Clean Energy Regulator announced Friday, as the offset price in the secondary market hit yet another record high.

Trading in China’s national emissions trading scheme opened on Friday, with initial prices well above expected levels, though market participants cautioned against reading too much into it.

The Virginia Department of Environmental Quality (DEQ) did not violate state law when it amended its RGGI-aligned cap-and-trade regulation to include full auctions, and the programme does not constitute an illegal tax in violation of Old Dominion’s Constitution, a judge ruled Wednesday, refuting a manufacturer-led challenge.

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

None of the soil organic carbon protocols developed by third-party standards, start-ups, or governmental and academic organisations is doing enough to ensure high-quality outcomes, with the existing methodologies severely lacking in areas such as additionality and durability, according to a report published Thursday.

California Carbon Allowance (CCA) prices retraced over the week as demand declined from financial firms, but RGGI allowances (RGAs) inched closer to the $9 level due to an influx in buying from compliance entities.

A New York-based hedge fund opened a RGGI CO2 Allowance Tracking System (COATS) account on Thursday, marking the second new financial firm to register in the Northeast US cap-and-trade scheme since June.

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Delta Air Lines is wary of purchasing biofuel credits (RINs) under the US Renewable Fuel Standard (RFS) due to transparency concerns, CEO Ed Bastian said Wednesday, giving credence to recent reports that the company's refinery subsidiary has halted purchases amid soaring price levels.

Proposals to tighten the EU ETS and rebase its cap within a rapid timeframe are an initial cause for concern among market experts still digesting the full impact of Brussels’ wide-ranging climate measures, a conference heard on Thursday.

Issuance of free EUAs for 2021 to Polish installations will likely take place in Q4 of this year, after the European Commission has approved the country’s proposed allocation plan, while Germany's permit distribution also probably won't completed until the autumn at the earliest.

EUAs were relatively quiet early Thursday, trading in a fairly narrow range as the market continued to digest the European Commission’s 'Fit for 55' package announced yesterday.

The EU should introduce price controls for its carbon market amid recent spikes, Spain’s deputy PM and environment minister said on Wednesday as the 27-nation bloc presented its ‘Fit for 55’ legislative package to further tighten its ETS and other climate policies.