Carbon Pulse

EUAs slumped to a one-week low just above €50 on Friday to notch a 1.4% weekly loss, while UKAs also sank as it emerged Britain was considering boosting this year's auction supply.

A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including developments in California and Massachusetts.

EU carbon will average €50 for the remainder of this year, analysts predict, with a number of bullish factors leading them to raise their forecasts for both 2021 and 2022.

The Nova Scotia government is mulling its options for post-2022 carbon pricing, according to a discussion paper released Thursday, suggesting the Canadian province could choose an alternative to its cap-and-trade scheme going forward. 

The UK government may significantly increase the amount of carbon allowances to be sold under the country's new emissions trading scheme this year, Carbon Pulse has learned.

An offset retailer has rejected around 90% of nature-based projects it has examined and is insisting clients buy almost four carbon credits for every tonne emitted from a chosen few initiatives to ensure an effective contribution to climate action.

Germany selected 62 green hydrogen projects as eligible for state financing on Friday, with a large share intended to decarbonise the country's energy-intensive industries.

China will set a 10% limit on daily price movements in its emissions trading scheme, while block trades will have to stay within 30% of on-screen prices, the chairman of the carbon exchange in Shanghai told local media on Friday.

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

California Carbon Allowance (CCA) prices climbed on thin secondary market volume as entities awaited the Q2 WCI auction results, while RGGI Allowances (RGAs) sank to $8 ahead of the programme’s own quarterly sale next week. 

The California-Quebec Q2 auction settled underneath the secondary market on Thursday as speculators purchased their largest share ever, while the auction set an all-time high and landed on the upper end of market expectations.

EUAs dropped 3.4% to below €52 on Thursday, with carbon weighed down by weaker energy markets and a perceived tailing off of investor buying.

The 27-nation EU’s capitals are on track to ratify by the end of the month a bill that would allow for carbon pricing-generated revenues to pay back the €800 billion COVID-19 recovery fund, with only two countries left to ratify the decision.

Switzerland will soon announce its third bilateral deal under the Paris Agreement’s Article 6 to purchase carbon offsets from Senegal and is undertaking formal and informal discussions with a host of other countries on future arrangements, an official from the European country’s credit procurement agency said Thursday.

California Low Carbon Fuel Standard (LCFS) values crossed the $190 mark this week as some pointed to higher fuel demand and state regulator ARB’s revisions to the crude average carbon intensity under the transportation sector programme.

Online payment processing company Stripe on Wednesday selected six more early-stage CO2 removal (CDR) projects as part of its climate programme, with some of these nascent technologies costing over $2,000 per tonne.

The Fujian provincial government has issued over 1.7 million forestry-based offsets to boost supply in the local pilot ETS as well as in China’s fledgling voluntary carbon market.

California regulator ARB invalidated offsets from a Wisconsin-based livestock project on Wednesday that the agency found to be in violation of state environmental regulations, marking the fourth project to see credits voided.

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

US biofuel credit (RIN) values bounced off a two-week low on Wednesday after a media outlet reported that a Delta Air Lines subsidiary has stopped purchases as it seeks federal relief from its Renewable Fuel Standard (RFS) obligations.