Carbon Pulse

European NGOs are calling for the EU to phase out gas by 2035, as the 27-nation bloc is finalising major pieces of legislation that will set energy and climate policy for the decades ahead.

South Korean carbon permits slumped 9.7% in Thursday trade to hit their lowest levels since Feb. 2016, as buyers are faced with a market flush with supply.

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

California Carbon Offset (CCO) discounts are widening as California Carbon Allowance (CCA) prices spike amid a flurry of speculative interest, with some traders observing limited demand for credits.

EUAs gave back early gains on Wednesday as the fortnightly UK auction again weighed on Europe's carbon markets, with UK Allowances hitting a new low to trade at parity with their EU counterparts for the first time.

The International Maritime Organisation’s (IMO) environment committee on Wednesday discussed the introduction of a global carbon levy for ships but decided to postpone this and other decisions to an upcoming meeting in November.

Israel’s new environment minister has pledged to try to advance legislation that would put a price on the country’s carbon emissions, but observers are not giving her efforts favourable odds of succeeding.

Biofuel credit (RIN) values tanked for the fourth consecutive day on Wednesday after a news outlet reported the US EPA may opt to keep Renewable Fuel Standard (RFS) blending obligations flat or slightly below previous levels for the next two years in response to soaring costs under the programme.

Nova Scotia’s June 9 cap-and-trade sale cleared nearly 75% above the 2021 auction reserve price, making the settlement the largest premium in the history of the programme, market sources said.

S&P Global Platts on Wednesday began assessing prices for carbon neutral LNG to tender to the growing interest across global energy markets to bundle carbon credits with LNG shipments.

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The Clean Energy Regulator has issued around 400,000 carbon credits to two landfill gas sites operated by EDL, while utility AGL on Wednesday announced it has expanded carbon neutral offerings to span its entire product line.

New Zealand carbon allowances sped past NZ$41 ($29.27) in Wednesday trade, hitting yet another all-time high as anticipated ETS changes, limited supply, and pre-auction speculation have all helped push the spot contract up more than 11% since the beginning of the month.

South Korea should set a 2030 emissions target of at least 40% below 2017 levels, the leader of the ruling Democratic Party said Wednesday, a move that would nearly double the country’s carbon-cutting efforts over the next decade.

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

A British campaigner is considering an appeal after losing a High Court case against the UK government’s decision to exclude waste incinerators from its carbon market, media reported on Tuesday.

California Carbon Allowance (CCA) prices surged on the secondary market for a second consecutive day on Tuesday, with the benchmark contract edging close to the $22 level.

RIN prices continued their recent plunge on Tuesday, having now lost a quarter of their value in three days as traders digested reports of possible Renewable Fuel Standard (RFS) compliance relief and more analysts predicted a downturn in biofuel credit values.

The auction clearing price in Massachusetts’ Global Warming Solutions Act (GWSA) cap-and-trade programme rebounded significantly at the June sale after hitting all-time lows earlier this year, though allowance demand tapered off at the third quarterly auction, according to results released Tuesday.