Carbon Pulse
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News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 32 min 9 sec ago
EU lawmakers concerned over CORSIA proposal that could breach ETS directive
A planned European Commission proposal that would legally bind the EU to implement the international CORSIA aviation offsetting scheme could take away the European Parliament’s oversight over the process, according to five EU lawmakers representing the four largest pro-European political groups.
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Global business group launches Singapore-based voluntary carbon trading drive
The International Chamber of Commerce (ICC) has teamed up with Singapore-based emissions exchange AirCarbon and blockchain development firm Perlin to drive voluntary carbon trading under its new ICC Carbon Council.
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NZ changes ETS rules to give oil refinery millions of dollars worth of free CO2 permits
New Zealand has changed its ETS regulations to ensure Refining NZ qualifies to get most of its carbon permits for free when it joins the scheme in 2023, according to newly-released Cabinet papers.
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GHG removal credits clear above €30 in Finnish platform’s latest auction
Emission removal certificates sold for a weighted average of €31.60 each at the latest voluntary market auction held on the Puro platform led by Finnish utility Fortum, Puro said on Wednesday.
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CP Daily: Tuesday April 21, 2020
A daily summary of our news plus bite-sized updates from around the world.
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China urged to take green exit from virus crisis amid growing domestic resistance
China should pick a new growth strategy with decarbonisation at its centre as the country puts together its next five-year plan in the middle of the COVID-19 crisis, according to two reports released Wednesday, just as industry pressure is building on Beijing to scale back on environmental efforts.
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Head of Climate Action, Vertis Environmental Finance – Madrid
We are looking for a radical leader in corporate sustainability services. A motivated, passionate leader who wants to leave a legacy. A true leader who can drive forward our mission to enhance Climate Action for corporates so we can save our beautiful planet. How? By being the leading force in transitioning heavy industry to a low-carbon economy.
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South Africa delays first carbon tax payment deadline due to virus crisis
South Africa’s president on Tuesday announced a three-month delay to the deadline for the first payments due under the country’s carbon tax, as part of a wider package of financial measures to help companies cope with the coronavirus pandemic.
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Brussels could delay 2030 GHG target study if virus impact clouds outlook -Timmermans
The European Commission could delay its work on analysing the effects of deepening the bloc’s 2030 emission goal if it can’t fully assess the impact of coronavirus shutdowns, its climate chief Frans Timmermans said on Tuesday.
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RFS Market: RIN prices slide as oil lobby requests biofuel mandate adjustment
US biofuel credit prices receded Tuesday as a major oil industry trade group requested the EPA change biofuel quotas under the Renewable Fuel Standard (RFS) due to a recent court ruling.
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US seeks judgement on challenge to WCI market linkage, asks for dismissal on another claim
The US Department of Justice (DOJ) has asked a federal judge to find California's ETS linkage with Quebec illegal because it conflicts with the government’s position on climate change and limits President Donald Trump’s leverage, while it also sought to dismiss its remaining challenge against the cross-border scheme, according to court documents filed Monday.
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EU states, UK dole out another 25 mln more free EUAs for 2020, as glitch slashes max quotas
EU member states and the UK handed out over 25 million additional free carbon allowances to industrial emitters in the fortnight to last Friday, according to updated data from the European Commission, with a calculation error slashing the reported maximum allocation figure by almost 100 million tonnes.
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EU Midday Market Briefing
EUAs plunged below €20 on Tuesday, sliding further from last week's one-month peak as wider financial markets were rattled by sub-zero US oil prices and other bearish factors overnight.
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South Korea to let financials trade in carbon market
South Korea on Tuesday announced a number of amendments to its emissions trading scheme ahead of the start of the third trading period in 2021, including letting financial institutions and securities companies participate in the market.
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CP Daily: Monday April 20, 2020
A daily summary of our news plus bite-sized updates from around the world.
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US states, power companies argue EPA erred in ACE rule trading ban
The US EPA incorrectly interpreted the Clean Air Act by not allowing emissions trading to meet states' Affordable Clean Energy (ACE) obligations, a collection of mostly Democrat-led US jurisdictions and power sector entities contended in court filings Friday.
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California developing ‘DEBs’ application for compliance offsets, sources say
California regulator ARB is working on a formal process to determine compliance offsets that provide a direct environmental benefit to the state (DEBs), but it is unclear when that application may be finalised, regulatory sources said.
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EU regional funds a vast source of untapped potential for climate spending, say NGOs
EU cohesion funding is an untapped funding source for cutting the bloc's emissions, according to a report released by green groups on Monday that found only one tenth of disbursed cash is allocated towards climate objectives.
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Thailand, British Columbia to take extra time to re-apply for CORSIA eligibility
Thailand and British Columbia will miss UN body ICAO’s Monday deadline to resubmit their offset programme applications for eligibility under the CORSIA global aviation scheme, as they seek to make changes to their methodologies for future intakes.
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EU Midday Market Briefing
EUAs fell below €21 on Monday, continuing to fade following last week's dart to a one-month high as markets remained in thrall to coronavirus developments.
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