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UK government declines to add more UKAs to market after January intervention trigger
The UK ETS Authority will not add any additional UK Allowances to the British market even after the market’s cost containment mechanism (CCM) was triggered for a second successive month at the end of December, it said on Tuesday. Read MoreTop
Carbon price of $360/t required to decarbonise shipping by 2050 -report
An average carbon price of almost $200 per tonne would be required to decarbonise the global shipping sector by 2050, with the price ultimately hitting heights of $360 in the target year, according to a report by an industry coalition published on Tuesday. Read MoreTop
Exxon snubs vast majority of emissions in aspirational 2050 net zero target
ExxonMobil on Tuesday announced it will hope to reach net zero GHG output from its operations by mid-century, though it continued the trend of American oil majors declining to cover emissions from their products within their climate strategies. Read MoreTop
ANALYSIS: US oil companies lag in climate targets, avoid lifecycle commitments
The climate goals of US oil and gas companies are less ambitious compared with their European counterparts as they avoid firm commitments to address full lifecycle emissions and set targets that enable their absolute greenhouse gas output to rise. Read MoreTop
South Pole increases VCM presence in Africa with Carbonsink acquisition
Integrated carbon services firm South Pole has expanded its business in Africa through its acquisition of Carbonsink, an Italian-based consultancy with more than 30 carbon-cutting projects on the continent. Read MoreTop
Euro Markets: EUAs stage strong afternoon rally amid aggressive buying
EUAs reversed early losses on Tuesday as trading volumes picked up amid aggressive buying, while energy markets were firmer even as gas supplies from Norway recovered after brief interruptions. Read MoreTop
Australian emitters double voluntary carbon offset cancellations in 2021
Australian companies doubled the number of carbon credits they retired voluntarily from the national registry last year, though the growth was far higher for cheap, plentiful UN-issued credits than the expensive, less-available domestic units. Read MoreTop
China’s auto industry on track to miss carbon neutral target, analysts find
Emissions from China’s car making industry are set to plateau after peaking in 2027, putting the sector off track for a 2060 net zero pathway, according to an analysis by a green group released on Tuesday. Read MoreTop
UN chief warns Davos on climate inaction, global risks
UN Secretary General Antonio Guterres told the World Economic Forum (WEF) on Monday that there is no sign that governments are planning to effectively manage climate risks, urging the private sector to step up efforts and avoid greenwashing well ahead of November's COP27 UN climate talks in Egypt. Read MoreTop
Key lawmaker seeks to curb flexibilities for EU nations' 2030 climate goals
EU member states should pursue emissions-cutting efforts in non-ETS sectors without resorting to flexibilities that may keep longer term targets out of reach, according to the lead parliamentarian for the bloc's revised Effort-Sharing Regulation (ESR). Read MoreTop
Euro Markets: EUAs slip along with energy markets as gas supply issues diminish
EUA prices fell in line with weaker gas and power markets on Monday amid forecasts for milder weather suggested gas supply is unlikely to be severely tested this winter, as demand for EUAs remained modest and trading activity was very limited. Read MoreTop
Carbon Cap fund ends 2021 with 59% gain as average carbon allowance price tops $60
Fund manager Carbon Cap's World Carbon Fund closed 2021 with a 59% annual gain, as allowances prices in the five main cap-and-trade systems rose to an average of $60/tonne, the company said on Monday. Read MoreTop
Shell sees increasing role for carbon price in China’s decarbonisation process
China’s domestic carbon price could rise 400% above current levels by 2030 and kick on from there as part of the country’s efforts to decarbonise by 2060, oil major Shell said in a report Monday. Read MoreTop
VCM Report: Nature-based contract hits new heights while CORSIA units falter
Standardised nature-based voluntary emissions reductions (VER) prices found strength this week, while technology-based CORSIA-eligible credits and others generally flatlined or sank. Read MoreTop
