Carbon Pulse

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

California Carbon Allowance (CCA) prices fell dramatically this week as financial entities unloaded positions due to growing fears of a global recession and the bearish WCI emissions impact from the coronavirus pandemic, while RGGI allowances (RGA) sank to their lowest level since mid-2018.

US biofuel credit (RIN) prices rose on Thursday after the economic impacts of the COVID-19 virus pushed prices under the Renewable Fuel Standard (RFS) to a nearly two-month low earlier this week.

Offset standard developer and manager Verra is planning a series of alterations to its Verified Carbon Standard (VCS) project types that the ICAO Council declined to approve for use under the international aviation offset system CORSIA.

Poland may propose emergency EU reforms including ETS changes, the country's climate ministry told Polish state media on Thursday, aiming to reduce the burden on its economy as it comes under intense strain due to the coronavirus. 

We are looking for an effective relationship-builder who has strong analytical skills, to join our Energy, Environment and Agriculture team in HM Treasury. We are looking for the successful postholder to play a key strategic role coordinating HMT’s response to the challenges of delivering the UK Government’s commitment to being net zero by 2050, and to lead on key policy issues, such as the multi-dimensional challenges of decarbonising heat and industrial processes.

EU carbon prices rebounded somewhat on Thursday following five days of huge losses, but the gains appeared short-lived as EUAs sank back and some experts predicted more coronavirus-fuelled downside to come.

Airline Lufthansa Group faces a drastic cut in its emissions this year as coronavirus measures have seen its passenger flights cut 95%, reversing a rising trend that saw its EU ETS costs soar in 2019, the company's results on Thursday showed.

A major annual climate change conference scheduled for late May has been cancelled over the coronavirus crisis.

Vietnam’s environment ministry has been tasked with drawing up the design for a domestic carbon market by the end of the year, though it remains unclear what shape the programme will take or how far-reaching it will be.

Indonesia is sticking to plans to launch a pilot emissions trading market later this year, a government official said Thursday, despite concerns over the impact of the COVID-19 virus.

Australia should issue carbon credits to Safeguard Mechanism participants that emit below their baselines, but only if those caps are gradually declining, the Climate Change Authority (CCA) said Thursday.

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

Robust international emissions trading rules under the Paris Agreement’s Article 6 can smooth the path to net zero emissions and boost the credibility of offsetting and CCS, UN envoy Mark Carney said on Wednesday.

California Carbon Allowance (CCA) prices traded underneath $16.00 on Wednesday afternoon, after a wave of selling throughout the day caused front-month prices to plummet to the lowest percentage below the current WCI floor price in the scheme’s history.

Canada’s Clean Fuel Standard (CFS) will deliver under a quarter of the policy’s anticipated emissions abatement as a result of overlap with existing federal and provincial policies, researchers said Tuesday.

Electricity demand is shifting in numerous power markets operating in the US’ two cap-and-trade programmes due to the coronavirus pandemic, but grid operators said it is too early to determine the exact impact of more employees working from home and government-imposed travel restrictions.

Finnish utility Fortum should commit to phasing out coal and drop its support for western Europe’s last coal plant it will soon control as part of its takeover of German rival Uniper, investors wrote in a joint letter on Wednesday.

California Low Carbon Fuel Standard (LCFS) credit prices took on significant losses Wednesday as the spread of the COVID-19 coronavirus roiled the transportation sector programme.

EU glass packaging manufacturers are collaborating on a pilot project that they believe cut help cut the sector's emissions by 50% by firing furnaces from green power sources.