EU nations lay groundwork on 2030 climate goal ahead of key summit

Published 13:21 on November 25, 2020  /  Last updated at 01:12 on November 26, 2020  /  EMEA, EU ETS  /  No Comments

EU delegations have begun work on the conclusions of a key EU summit on Dec. 10-11 where the 27-nation bloc’s leaders could agree a higher 2030 GHG reductions target, although some hurdles remain. Read More

UK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents

Published 22:55 on November 25, 2020  /  Last updated at 23:17 on November 25, 2020  /  Climate Talks, EMEA, EU ETS, International  /  No Comments

The British government is consulting the oil and gas industry about penalties under a post-Brexit UK emissions trading scheme, in what observers said was another potential sign the country will opt to implement a domestic cap-and-trade system instead of a tax when it leaves the EU ETS at the end of this year. Read More

WCI emitters' capital, emissions outlook could have played factor in Q4 auction buying

Published 21:06 on November 25, 2020  /  Last updated at 21:06 on November 25, 2020  /  Americas, Canada, US  /  No Comments

WCI compliance entities shifted their Q4 auction bidding strategies on future emissions outlooks for the linked cap-and-trade programme, internal allowance limits, and available capital, leading the group to procure fewer carbon permits than the previous sale, traders said. Read More

UK govt fines trio of grounded airlines over £130 mln for EU ETS breaches

Published 21:44 on November 25, 2020  /  Last updated at 00:15 on November 26, 2020  /  Aviation/CORSIA, Bavardage, EMEA, EU ETS, International  /  No Comments

The UK has levied more than £130 million in fines on three grounded airlines for not complying with their obligations under the EU carbon market. Read More

Averna acquisition of ClimateCare puts offset firm on "professional investment footing" ahead of market boom, says founder

Published 18:17 on November 25, 2020  /  Last updated at 18:26 on November 25, 2020  /  Africa, Americas, Asia Pacific, Bavardage, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, South & Central, Voluntary Market  /  No Comments

The recent acquisition by private equity firm Averna Capital of a majority stake in ClimateCare will help prepare the low-carbon project developer for massive growth in the global offset market, the company’s founder told Carbon Pulse. Read More

Russia submits slightly higher Paris pledge that still allows for vast emissions growth

Published 17:51 on November 25, 2020  /  Last updated at 17:58 on November 25, 2020  /  Climate Talks, EMEA, International  /  No Comments

Russia became the 13th nation to submit a new NDC to the Paris Agreement on Wednesday, with the world’s fourth largest emitter confirming a decree signed earlier this month. Read More

EU Market: EUAs briefly lift above €28 on markets rally, strong auction

Published 19:43 on November 25, 2020  /  Last updated at 20:25 on November 25, 2020  /  EMEA, EU ETS  /  No Comments

EUAs neared €28 on Wednesday to continue this week's upward move as wider financial markets rose on prospects for a smooth US presidential transition and COVID-19 vaccine progress, while data showed investors continued to pile into the EU ETS ahead of the looming supply drought. Read More

California distributes 158k offsets in smallest issuance since July

Published 22:06 on November 25, 2020  /  Last updated at 22:06 on November 25, 2020  /  Americas, Canada, US  /  No Comments

California regulator ARB this week divvied out 158,700 compliance offsets, breaking a six-week streak of issuances over 1 million and marking its smallest issuance since July. Read More

Canadian CFS prices to remain well under compliance fund value through 2030 -analysis

Published 18:14 on November 25, 2020  /  Last updated at 18:14 on November 25, 2020  /  Americas, Canada, RINs & LCFS  /  No Comments

Canadian Clean Fuel Standard (CFS) credit values will not come close to reaching the proposed programme’s maximum price over the next decade, even under a scenario that requires significant biofuels uptake, according to an analysis published Tuesday. Read More

Australia’s voluntary market sees strong growth from low base, data shows

Published 03:39 on November 25, 2020  /  Last updated at 14:02 on November 25, 2020  /  Asia Pacific, Australia  /  No Comments

Voluntary cancellations of Australian carbon credits in Q3 were 63% higher year-on-year, though numbers remain modest amid competition from international units and renewable energy credits. Read More