Euro Markets: Midday Update

Published 14:13 on December 1, 2021  /  Last updated at 15:10 on December 1, 2021  /  EMEA, EU ETS, UK ETS  /  No Comments

EUAs shot to a new record for the tenth time in 13 days as traders said financial participants continued to drive the market to loftier levels, triggering another high-level call for intervention, while energy prices advanced more modestly. Read More

Steel can go green by 2050 with $278 bln spend, report says

Published 09:16 on December 1, 2021  /  Last updated at 09:18 on December 1, 2021  /  Asia Pacific, Australia, China, International  /  No Comments

Steel can be produced with almost no carbon emissions by 2050 if $278 billion in investment to decarbonise the industry is made over the next three decades, a report released on Wednesday claimed. Read More

South Korea to open ETS to financials this month

Published 07:46 on December 1, 2021  /  Last updated at 07:46 on December 1, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korea will open its emissions trading market up to participation from about 20 financial institutions later this month, according to the environment ministry. Read More

Malaysia eyes late 2022 start for domestic carbon market

Published 06:35 on December 1, 2021  /  Last updated at 12:16 on December 1, 2021  /  Asia Pacific, Other APAC, Voluntary Market  /  No Comments

Malaysia plans to launch a domestic emissions trading market late next year, beginning with voluntary offset trade before rolling out an ETS at a later date, the country’s environment minister said Wednesday. Read More

Inpex inks four more “carbon neutral” gas deals

Published 04:22 on December 1, 2021  /  Last updated at 04:22 on December 1, 2021  /  Asia Pacific, International, Japan, Voluntary Market  /  No Comments

Inpex, Japan’s largest oil and gas operator, has signed four separate carbon neutral gas agreements with local Japanese gas and power companies, the company has announced. Read More

UPDATE - New Zealand carbon auction clears at new record high

Published 23:29 on November 30, 2021  /  Last updated at 12:15 on December 1, 2021  /  Asia Pacific, New Zealand  /  No Comments

The New Zealand government on Wednesday sold all the allowances on offer in its quarterly NZU auction at a record high price, immediately pushing the secondary market into unchartered territory. Read More

California watchdog to ‘more pointedly’ call out allowance glut, suspect offsets

Published 22:26 on November 30, 2021  /  Last updated at 23:35 on November 30, 2021  /  Americas, Carbon Taxes, US  /  No Comments

A California independent advisory committee laid out options on Tuesday for how the state’s cap-and-trade programme could better align with climate targets while highlighting issues such as carbon border measures and the spike of non-compliance trading, as it debated its annual recommendations. Read More

UK ETS regulator to announce intervention decision within 2 weeks after cost containment triggered

Published 18:41 on November 30, 2021  /  Last updated at 19:11 on November 30, 2021  /  EMEA, EU ETS, UK ETS  /  No Comments

The UK ETS Authority will announce by Dec. 14 how it will respond to a three-month rise in UK Allowance prices that has taken the market above the threshold for possible intervention, the regulator said late Tuesday. Read More

PREVIEW: Traders unsure whether Q4 RGGI auction will unleash excess volume

Published 17:35 on November 30, 2021  /  Last updated at 17:35 on November 30, 2021  /  Americas, US  /  No Comments

The quarterly RGGI auction on Wednesday is set to clear at a new peak after allowance prices soared this fall, though a retracement following a surprising WCI sale result last week has left traders with mixed thoughts on whether bids will be high enough to trigger the programme’s Cost Containment Reserve. Read More

Brussels aims to target foreign producers in methane-cutting efforts

Published 18:25 on November 30, 2021  /  Last updated at 18:25 on November 30, 2021  /  EMEA, EU ETS, International  /  No Comments

The EU should focus on cutting methane emissions from foreign energy producers while improving monitoring of its own relatively smaller output, EU sources said on Tuesday, outlining the bloc's upcoming plans to help meet the aims of the recently adopted Global Methane Pledge. Read More

Think-tank boss appointed to Germany's economy and climate 'super-ministry'

Published 18:33 on November 30, 2021  /  Last updated at 19:09 on November 30, 2021  /  Bavardage, EMEA, Uncategorized  /  No Comments

The incoming German coalition government on Tuesday appointed the head of environmental think-tank Agora Energiewende as the top official in the new administration's beefed-up economy and climate ministry. Read More

UK industrial innovation funding shows modest signs of driving abatement

Published 20:36 on November 30, 2021  /  Last updated at 22:18 on November 30, 2021  /  EMEA, UK ETS  /  No Comments

A UK government fund to award clean industry innovation could have a modest impact in driving down emissions in ETS-covered sectors if all companies adopted the technologies, programme data results released on Tuesday suggested. Read More

UN aviation body rejects latest offsetter applicants under CORSIA

Published 16:10 on November 30, 2021  /  Last updated at 21:03 on November 30, 2021  /  Aviation/CORSIA, Climate Talks, International, Kyoto Mechanisms, New Market Mechanisms, REDD, Voluntary Market  /  No Comments

UN aviation body ICAO’s Council has rejected all three of this year’s applications for eligibility under its CORSIA carbon offsetting scheme, declining to add the land-based initiatives to the seven programmes approved to date to provide airlines with a supply of carbon credits. Read More

Euro Markets: EUAs climb to record settlement price as UKAs leap on fund buying

Published 17:40 on November 30, 2021  /  Last updated at 22:33 on November 30, 2021  /  EMEA, EU ETS, UK ETS  /  No Comments

EUAs set a new record settlement on Tuesday amid supportive fundamentals even as gas prices dropped after Russia vowed to increase flows into Europe, while UK Allowance futures jumped as the leading exchange-traded fund was said to have begun accumulating a position in the contract. Read More

UPDATE - Undersubscribed Nova Scotia carbon auction clears at floor, C$15 below previous sale

Published 16:51 on November 30, 2021  /  Last updated at 18:57 on November 30, 2021  /  Americas, Canada, US  /  No Comments

Nova Scotia’s fourth cap-and-trade auction failed to sell out and cleared at the scheme's price floor, the provincial government announced Tuesday. Read More