Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 51 min ago
CN Markets: Pilot market data for week ending May 15, 2020
Closing prices, ranges and volumes for China's regional pilot carbon markets this week.
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EU Midday Market Briefing
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.
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Australia’s 2020 offset issuances pass 6 million, on course for record
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.
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Australia ready to prop up offset market if prices fall
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.
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CP Daily: Thursday May 14, 2020
A daily summary of our news plus bite-sized updates from around the world.
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COVID-19 impacts presenting challenges for California offset developers and verifiers
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.
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NA Markets: California allowances rise toward floor price as RGGI slides to 2-week low
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.
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EUAs to recover as low-carbon shift to be focal point in EU’s post-virus rebuild -JP Morgan
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.
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Germany struggling with non-ETS goals that Merkel seeks to review -report
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.
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Utility RWE covers more of its fading lignite output in Q1
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.
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EU Midday Market Update
EUAs dipped on Thursday to stay close to this week's five-week bottom, shrugging off stronger energy prices on light volume.
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NZ Market: NZUs rise to 2-month high as govt splashes out on recovery
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.
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South Korea ETS emissions fall in 2019, leaving market marginally long
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.
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DOJ’s final challenge to WCI linkage likely to be heard in late June
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.
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CP Daily: Wednesday May 13, 2020
A daily summary of our news plus bite-sized updates from around the world.
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Canadian gold miner inks forestry offset deal with developer and First Nation community
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.
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TCI carbon market framework progresses, but doubts persist about timeline
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.
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California sets 20-mth high with 11.2 mln new offsets, as Quebec issues first credits since July
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.
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EU carbon pricing needs to top €200/t to reach net zero, says oil major Shell
Carbon prices must exceed €200/tCO2e if the EU is to meet its net zero 2050 emission goal, oil major Shell said Wednesday.
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EU keeps mum on CORSIA baseline as analysis says change could wipe airlines’ initial obligations
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.
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