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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 2 hours 14 min ago
Australia’s Safeguard facilities continue switch to multi-year targets
A dozen more facilities covered by Australia’s Safeguard Mechanism have switched to using multi-year targets, meaning they don’t have to worry about compliance for another three years.
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CP Daily: Wednesday February 26, 2020
A daily summary of our news plus bite-sized updates from around the world.
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Analysts lower near-term EUA forecasts as investors stay away
Analysts have nudged down their EUA price forecasts for this year by 2.7% compared to projections from January, as the expected emergence of speculative investors has failed to materialise.
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California divvies out 277k offsets, reduces invalidation on 1 mln
California regulator ARB granted 276,600 new offsets this week in the lowest issuance so far this year, while it cut the invalidation period on more than a million additional credits, according to data published Wednesday.
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UPDATE – Q1 WCI auction reverses years-long trend with above market clearance
The first California-Quebec sale of 2020 settled above the secondary market for the first time in three years, as increased demand coupled with lower volume on offer buoyed prices, according to results released Wednesday afternoon.
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UPDATE – RFS Market: RINs stretch highs on reports of curtailed biofuel waivers
US biofuel credit (RIN) prices surged on Wednesday to new year-highs after a report surfaced that the Trump administration will limit the number of Renewable Fuel Standard (RFS) compliance waivers granted in future years in response to a critical court ruling last month.
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Brussels laments that EU states’ carbon pricing “remains modest” -report
EU progress on green taxation and carbon pricing “remains modest” at member state level, according to a European Commission report on Wednesday that analyses each country's key economic challenges.
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EU Midday Market Briefing
EUAs fell below €24 and were headed for a third straight daily drop on coronavirus concerns early on Wednesday, though losses slowed after a strong Polish auction showed signs of bargain-hunting.
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South Korea approves first batch of overseas CDM projects
South Korea has approved the first batch of Korean-owned CDM projects abroad that can generate carbon credits for the domestic emissions market.
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CP Daily: Tuesday February 25, 2020
A daily summary of our news plus bite-sized updates from around the world.
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DOJ argues WCI linkage is binding, hinders Trump’s climate negotiations
California’s cap-and-trade linkage with Quebec created a binding agreement between the jurisdictions, while also obstructing or running afoul of the federal government's position on international climate policy, according to US Department of Justice (DOJ) brief filed Monday evening.
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LCFS Market: California prompt prices keep sliding as forward values narrow
California Low Carbon Fuel Standard (LCFS) prices for near-term delivery continued to retreat from record highs set earlier this month, while steady forward contract demand is supporting values at the back end and flattening the price curve.
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EPH’s big-emitting lignite facilities get boost as mine resumes operations
EPH's big-emitting German lignite power operations were given a lift on Tuesday as one of its mines resumed operations after six months of closure due to an environmental lawsuit.
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WCI regulated parties increase CCA short positions as speculators add length
WCI compliance entities grew their short positions on the secondary market ahead of the February auction, but traders are questioning whether that US Commodity Futures Trading Commission (CFTC) data paints a complete picture of California carbon holdings.
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EU Midday Market Update
EUA prices stabilised on Tuesday, pausing after the previous session's heavy falls on concerns that the Covid-19 coronavirus would spread worldwide.
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Australia expects offset market to grow this year, but Safeguard demand to dwindle even further
Australia’s Clean Energy Regulator expects carbon credit issuances to grow nearly 11% this year and offset delivery to the Emissions Reduction Fund to increase by a fifth, while demand from Safeguard Mechanism entities is likely to drop further.
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Consultant Climate Strategy DACH, South Pole
South Pole, a leading provider of global sustainability financing solutions and services, is looking for a German-speaking Consultant Climate Strategy (DACH). As a Consultant Climate Strategy you will focus on the delivery of high quality consultancy advice on climate change mitigation solutions to the corporate sector for international clients and be responsible for the management […]
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CP Daily: Monday February 24, 2020
A daily summary of our news plus bite-sized updates from around the world.
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Alberta court rules against federal ‘backstop’ CO2 pricing system
The Alberta Court of Appeal sided with the province’s challenge of the federal carbon pricing policy on Monday, arguing that Prime Minister Justin Trudeau’s government does not have the constitutional authority to implement its ‘backstop’ CO2 levy or large emitter programme on subnational jurisdictions.
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Africa, Asia big winners in German government’s carbon offset tenders -report
Germany has purchased more than 1 million carbon credits between 2014 and 2018 to offset the federal government’s emissions from business trips, according to a new report, with virtually all of the units coming from Africa or Asia and almost half from a single project type.
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