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South African cabinet approves carbon tax proposal, bringing long-delayed bill a step closer to passage

Published 21:25 on May 24, 2018  /  Last updated at 23:19 on May 24, 2018  /  Africa, Carbon Taxes, EMEA  /  No Comments

South Africa’s cabinet on Thursday approved the government’s proposed carbon tax bill, bringing the long-delayed legislation a step closer to becoming reality.

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EU Market: EU carbon prices hit fresh 7-yr high, have doubled since end-2017

Published 18:31 on May 24, 2018  /  Last updated at 18:39 on May 24, 2018  /  EMEA, EU ETS  /  No Comments

European carbon prices jumped to a fresh seven-year high on Thursday, before recovering from a brief intraday drop under €16.

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EU registry to be temporarily suspended for 48 hours in early June

Published 17:50 on May 24, 2018  /  Last updated at 17:50 on May 24, 2018  /  EMEA, EU ETS  /  No Comments

Access to the EU’s emissions trading registry will be suspended for 48 hours in early June to allow for a software upgrade, the European Commission announced on Thursday.

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UPDATE – Sweden scraps EUA cancellation plan, to spend funds on innovation instead

Published 17:25 on May 24, 2018  /  Last updated at 01:41 on May 25, 2018  /  EMEA, EU ETS  /  No Comments

Sweden has scrapped its plan to spend SEK 300 million (€29.4 mln) annually to buy and cancel EU Allowances to offset emissions from its sale of state-owned utility Vattenfall’s German lignite assets, and will instead spend the money on low-carbon innovation amongst big emitters.

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Ben & Jerry’s customers scoop up REDD credits in retail offsetting initiative

Published 15:41 on May 24, 2018  /  Last updated at 15:41 on May 24, 2018  /  Americas, EMEA, International, REDD, South & Central, US, Voluntary Market  /  No Comments

Ice cream maker Ben & Jerry’s is piloting an initiative where customers automatically offset the footprint of their retail purchases through buying Peruvian forestry offsets via blockchain technology.

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CBL Markets, UNFCCC in deal to trade CERs on exchange operator’s platform

Published 08:00 on May 24, 2018  /  Last updated at 10:58 on May 24, 2018  /  Africa, Americas, Asia Pacific, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Voluntary Market  /  No Comments

Energy and environmental commodity exchange operator CBL Markets has agreed a partnership with the UN’s climate change secretariat to list spot CERs on its trading platform, it announced on Thursday.

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Voluntary carbon market unwise to continue outside blurred lines of Paris Agreement, experts warn

Published 22:47 on May 23, 2018  /  Last updated at 22:47 on May 23, 2018  /  Americas, Asia Pacific, Climate Talks, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, REDD, Voluntary Market  /  No Comments

Voluntary carbon market developers risk being crowded out of existence by increasingly expansive climate policies worldwide unless they quickly work out a way to earn revenues within the scope of the Paris Agreement, experts said at an event on Wednesday.

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Another group of carbon trading fraudsters convicted by French court

Published 22:09 on May 23, 2018  /  Last updated at 22:09 on May 23, 2018  /  Bavardage, EMEA, EU ETS  /  No Comments

All 36 people on trial over a €385-million tax fraud using the EU carbon market have been convicted by a Paris court.

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EU Market: EUAs hold near €16 despite double showing of weak auctions

Published 18:15 on May 23, 2018  /  Last updated at 18:15 on May 23, 2018  /  EMEA, EU ETS  /  No Comments

European carbon prices held around €16 and within sight of recent highs despite two fairly weak auction results on Wednesday.

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EU Market: EUAs stretch 7-year highs as traders grow edgy

Published 21:04 on May 22, 2018  /  Last updated at 21:08 on May 22, 2018  /  EMEA, EU ETS  /  No Comments

European carbon extended the previous session’s seven-year high on Tuesday, crossing the €16 mark for the first time since June 2011 following a strong auction, though some traders are growing increasingly concerned that the large gains will lead to a sudden price collapse.

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