Carbon Pulse

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

EUAs were poised for a small weekly loss on Friday as prices eased back from an early gain despite stronger energy prices and lower supply over the next two weeks.

Australia’s Clean Energy Regulator has minted over 320,000 new carbon credits, taking the total so far this year past six million and keeping the agency on track for what it expects to be a record year.

Australia’s Clean Energy Regulator is willing to buy carbon credits above A$16 ($10.35) in between auctions to assist the market if offset prices slump due to the COVID-19 crisis, Energy and Emissions Reduction Minister Angus Taylor said Friday.

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

California Carbon Offset (CCO) prices collapsing this spring has made the process of selling and developing compliance offsets more difficult, as ‘shelter-in-place’ restrictions across the US could present issues for certain verification activities down the road, stakeholders said Thursday.

California Carbon Allowance (CCA) prices continued to zero in on the WCI floor price this week as strong demand persisted on the secondary market, while RGGI Allowances (RGAs) fell back on thin volume.

European carbon prices will recover in the coming years as the EU puts decarbonisation front and centre in its post-coronavirus rebuilding efforts, investment bank JP Morgan said.

Germany had been badly lagging behind its EU target for cutting emissions from non-ETS sectors before the coronavirus pandemic kicked in, with 2019 marking the fourth year in a row the country had missed its goal, a study released on Thursday found.

German utility RWE ramped up hedging of its remaining big-emitting lignite output over Q1 as its thermal output continued to declined rapidly, the company said in quarterly results on Thursday.

EUAs dipped on Thursday to stay close to this week's five-week bottom, shrugging off stronger energy prices on light volume.

NZUs rose to their highest levels since mid-March on Thursday as the government announced major spending in a budget to get the economy back on track, though the ETS still faces large uncertainties.

South Korean ETS emissions fell for the first time in 2019 driven by CO2 cuts in the power sector, leaving the market overall marginally long, the environment ministry said Thursday.

A federal court will likely hear arguments in late June about whether California’s ETS linkage to Quebec violates the US Constitution’s Foreign Affairs Doctrine by conflicting with the Trump administration’s decision to leave the Paris Agreement, according to documents filed late Wednesday.

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

A Canadian mineral exploration company has agreed to develop an Ontario-based forestry project with a North American offset developer and a First Nations group, with most of the credit revenue earmarked for the indigenous community.

The Transportation and Climate Initiative (TCI) is working through disagreements on its final Memorandum of Understand (MOU) that could extend the current timeline for publication, but others believe the framework to regulate fuel sector emissions across two US regions is nearing completion.

California regulator ARB minted 11.2 million new credits this week in its highest single issuance since fall 2018, as Quebec's environment ministry handed out its first compliance offsets in 10 months, according to data posted Wednesday afternoon.

Carbon prices must exceed €200/tCO2e if the EU is to meet its net zero 2050 emission goal, oil major Shell said Wednesday.

Airlines could avoid buying CORSIA units through the mid-2020s if nations alter the emissions baseline for the international aviation offset system, but the EU made no mention of changing that provision in its proposal to implement the ICAO programme’s pilot phase on Wednesday.