Amid Brexit doubts, UK extends binding emissions goals out to 2032

Published 11:05 on June 30, 2016  /  Last updated at 18:01 on June 30, 2016  /  EMEA, EU ETS  /  No Comments

The UK on Thursday set a legally-binding target to cut its GHG emissions 57% under 1990 levels between 2028-2032, in the face of huge uncertainty over how those obligations will interact with the country’s EU climate obligations following its decision to leave the bloc. Read More

Stalled CDM project among nine to win GCF funding approval despite board doubts

Published 17:08 on June 30, 2016  /  Last updated at 18:20 on June 30, 2016  /  Climate Talks, International, Kyoto Mechanisms, New Market Mechanisms  /  No Comments

The Green Climate Fund board has approved $257 million in funding for all nine projects that were under consideration at its meeting this week, including one scheme that had once sought CDM cash. Read More

South Korea carbon trade dries up as ETS passes first compliance deadline

Published 11:19 on June 30, 2016  /  Last updated at 16:36 on June 30, 2016  /  Asia Pacific, South Korea  /  No Comments

Over 500 emitters covered by South Korea’s cap-and-trade programme faced their 2015 compliance deadline on Thursday following a week that has not seen a single trade, as companies either had sufficient allowances or borrowed from next year’s allocation amid confidence that rules will be looser next year. Read More

EU Market: EUAs end at new 2-yr low after rally attempt thwarted

Published 17:27 on June 30, 2016  /  Last updated at 17:27 on June 30, 2016  /  EMEA, EU ETS  /  No Comments

European carbon prices gave back early gains on Thursday, bucking higher power prices to finish at a fresh two-year closing low. Read More

Netherlands parliament rejects EU ETS tiered approach, calls for LRF of “at least” 2.2%

Published 17:52 on June 30, 2016  /  Last updated at 17:52 on June 30, 2016  /  EMEA, EU ETS  /  No Comments

The Netherlands' parliament has passed a motion on post-2020 EU ETS reforms rejecting a tiered approach to free allowance allocations and seeking to deepen the Linear Reduction Factor (LRF) to “at least” 2.2%. Read More

Germany calls for urgent fix to EU emissions registry after dire survey results

Published 15:10 on June 30, 2016  /  Last updated at 15:10 on June 30, 2016  /  EMEA, EU ETS  /  No Comments

The EU’s emissions trading registry is in urgent need of being overhauled, Germany’s emissions trading authority said, after a survey found unanimity among respondents in calling for the system’s usability to be improved. Read More

New draft doc sheds more light on German climate plans

Published 16:05 on June 29, 2016  /  Last updated at 16:10 on June 29, 2016  /  EMEA, EU ETS  /  No Comments

Support for strengthening the EU ETS through unilateral measures by member states appears to have grown within the German government, according to a new draft climate plan that has emerged following consultation between the country’s environment and economy and energy ministries. Read More

UK MEP Duncan says “would strongly consider” staying on as EU ETS reforms lead

Published 14:05 on June 29, 2016  /  Last updated at 14:11 on June 29, 2016  /  EMEA, EU ETS  /  No Comments

UK MEP Ian Duncan would give strong consideration to continuing as the lead EU Parliamentarian steering EU ETS reforms if asked, he said Wednesday, but he thinks this is unlikely and that the file is more likely to be given to someone else. Read More

EU Market: EUA prices plunge to new two-year low

Published 08:40 on June 29, 2016  /  Last updated at 21:22 on June 29, 2016  /  EMEA, EU ETS  /  No Comments

European carbon allowances tumbled to a new two-year low on Wednesday after a weak auction result and amid continued selling in the wake of last week’s UK referendum. Read More

CN Markets: Shanghai CO2 price hits 3-month high on compliance, bullish Phase 2 outlook

Published 13:49 on June 29, 2016  /  Last updated at 13:49 on June 29, 2016  /  China, China's Pilot Markets  /  No Comments

Shanghai CO2 allowances soared to a three-month high in Wednesday trade, a day before the 2015 compliance deadline, with prices pushed up by traders expecting higher prices when Phase 2 of the city's ETS begins next month. Read More

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