Carbon Pulse

A ‘just transition’ away from coal is possible by 2030 in three of the European regions most reliant on the fossil fuel, a new analysis has found.

Low-cost airline EasyJet, luxury department store Harrods, and a renowned British architect were among those to be penalised this month for violating the rules of the EU ETS, as the UK government issued its largest batch of non-compliance fines to date.

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WCI traders expect the first quarterly sale of the year to settle close to the secondary market level due to its smaller size, the volume of auction indexed futures contracts purchased to date, and greater overall demand.

Oregon Democrat leaders are delaying the state’s cap-and-trade bill timeline to allow for greater discussion in the House and incorporate several amendments to the Senate version, though ETS proponents still expect the precursor to a floor vote to take place at the end of this week.

EUAs dipped back below €25 early on Tuesday as fears about the impact of the coronavirus continued to weigh on global markets. 

The Beijing municipal government on Tuesday ordered emitters set to be included in the national carbon market to stick to a scheduled deadline for submitting 2019 emission data despite the major disruptions caused by the coronavirus, a move seen as China attempting to proceed as planned with the ETS.

South Korean facilities hosting carbon offset projects under the UN’s Clean Development Mechanism will be brought into the domestic emissions trading scheme from next year, the government has announced.

The project will support the implementation of the 2015 Paris Agreement on Climate Change in the Western Balkans and Turkey and help their transition towards the low emissions and climate-resilient economy.

Governments representing 49% of the global economy have or are in the process of putting in place targets to reach net zero greenhouse gas emissions, a report showed.

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Carbon Pulse has expanded its workforce to kick off 2020, hiring two experts to help bolster its unrivalled news and intelligence offering as the five-year old company enters a new period of investment and product development.

The Architecture for REDD+ Transactions (ART) programme published its new standard for combatting tropical forest deforestation on Monday, giving subnational jurisdictions more authority and a longer timeframe than previously outlined to generate carbon credits for sale in voluntary and compliance-based offset markets.

California Low Carbon Fuel Standard (LCFS) credits have receded from record highs last week to near a three-week low, while market participants ramped up trade in futures contracts further out on the curve on ICE and Nodal Exchange.

EUAs dipped slightly early on Monday, after a weaker auction saw prices skirt technical support levels just above €24.

Australia on Monday proposed to ease regulations that have previously restricted access for developers to establish carbon offset projects in high rainfall areas.

The world’s biggest-emitting nation is looking increasingly unlikely to bring ramped-up climate ambition to UN talks in Glasgow later this year, with China laser-focused on mitigating economic repercussions from the ongoing coronavirus outbreak that could see emission levels balloon.

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

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

Quebec intends to finalise its forestry offset protocol for its WCI-linked cap-and-trade programme this summer and open the proposal up for public consultation, a government spokesperson told Carbon Pulse.