UPDATE - EU strikes deal on aviation coverage in the bloc's carbon market

Published 12:35 on December 7, 2022  /  Last updated at 13:27 on December 7, 2022  /  Aviation/CORSIA, EMEA, EU ETS  /  No Comments

EU co-legislators have struck a provisional political deal in the early hours of Wednesday that would have flights within the bloc paying for all their CO2 emissions from 2026. Read More

Euro Markets: Midday Update

Published 12:52 on December 7, 2022  /  Last updated at 12:52 on December 7, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

A significantly below-market auction dragged EUA futures lower on Wednesday morning as prices slumped 1.2%, though higher energy prices reacting to colder weather forecasts offered some support. Read More

Methodology uncertainties continue to distress China's offset market -observers

Published 10:48 on December 7, 2022  /  Last updated at 10:48 on December 7, 2022  /  Asia Pacific, China  /  No Comments

Concerns surrounding eligible methodologies for China's voluntary market continue to distress project developers, though the long-awaited relaunch of the country's national offset programme could be only months away, experts told Carbon Pulse. Read More

World Bank, IETA, Singapore launch global initiative to unify carbon credit registry data

Published 08:45 on December 7, 2022  /  Last updated at 09:45 on December 7, 2022  /  Asia Pacific, International, Other APAC, Paris Article 6, Voluntary  /  No Comments

A group of international partners has launched an open-source metadata system to share information about carbon credits that aims to improve transparency for carbon markets, they announced on Wednesday. Read More

Korean ETS emitters expect free allocation to stop flowing from 2026, leaving little time to meet 2030 NDC

Published 07:44 on December 7, 2022  /  Last updated at 12:33 on December 7, 2022  /  Asia Pacific, South Korea  /  No Comments

South Korean emitters covered under its domestic emissions trading scheme are concerned that its allocation plan will align with its 2030 NDC from 2026, providing limited time to cut emissions sufficiently to meet the national target, according to a market expert. Read More

US airline JetBlue scales back VER purchases to focus on nature-based credits, operational improvements

Published 23:41 on December 6, 2022  /  Last updated at 00:41 on December 7, 2022  /  Americas, Aviation/CORSIA, International, Nature-based, US, Voluntary  /  No Comments

Low-cost airline JetBlue on Tuesday announced it will next year end its strategy to automatically offset emissions from all domestic flights, and instead invest that capital in destination-specific nature-based carbon credits and reducing GHGs from its own operations. Read More

UPDATE - NZUs dip below NZ$80 mark in final 2022 auction

Published 23:26 on December 6, 2022  /  Last updated at 01:03 on December 7, 2022  /  Asia Pacific, New Zealand  /  No Comments

New Zealand on Wednesday sold all the allowances on offer at the final ETS auction of the year, with the sale clearing below NZ$80 ($50.57) amid a slight dip in demand. Read More

Large established carmakers set to struggle to meet net-zero targets

Published 05:01 on December 7, 2022  /  Last updated at 16:45 on December 6, 2022  /  International, Voluntary  /  No Comments

Most large multinational automakers are struggling to electrify their fleets and secure access to critical battery materials despite these firms setting ambitious net zero emissions goals, a report has found. Read More

PREVIEW: RGGI Q4 auction settlement expected to align with secondary market

Published 22:04 on December 6, 2022  /  Last updated at 22:18 on December 6, 2022  /  Americas, US  /  No Comments

Traders largely believe the December RGGI auction will clear in line with secondary market pricing, as steady compliance demand runs up against regulatory uncertainty in Virginia and Pennsylvania, and a low capacity for returns scares off speculative participation. Read More

California legislators reintroduce proposal to strengthen 2030 climate target

Published 22:44 on December 6, 2022  /  Last updated at 22:44 on December 6, 2022  /  Americas, Canada, US  /  No Comments

California lawmakers on Monday put forth related bills to ramp up the state’s 2030 emissions reduction target, coming after the proposal failed in the most recent legislative session and state regulator ARB’s Scoping Plan aims for deeper climate mitigation. Read More

Industry groups urge EU to include export support in carbon border measures

Published 19:01 on December 6, 2022  /  Last updated at 19:25 on December 6, 2022  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

Industry representatives are piling pressure on European institutions to introduce WTO-compliant ‘export adjustments’ to the proposed carbon border adjustment mechanism (CBAM) as talks over the mechanism near closure. Read More

Euro Markets: EUAs rebound as pre-expiry positioning props up prices

Published 12:50 on December 6, 2022  /  Last updated at 18:01 on December 6, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

EUAs recorded modest gains on Tuesday as speculative positioning kept support for the Dec-22s ahead of an imminent options expiry, though a late sell-off saw most of the earlier strong gains erased. Read More

EU legislators bid to resolve differences on aviation's place in the ETS

Published 18:23 on December 6, 2022  /  Last updated at 18:23 on December 6, 2022  /  Aviation/CORSIA, EMEA, EU ETS  /  No Comments

EU co-legislators are meeting late on Tuesday to try to reach agreement on how aviation should be treated in the bloc's carbon market, though one well-placed source expected the talks to need more time. Read More

Developer tries again with mammoth batch of new REDD projects

Published 16:28 on December 6, 2022  /  Last updated at 16:28 on December 6, 2022  /  Africa, Americas, Asia Pacific, Nature-based, South & Central, Voluntary  /  No Comments

An Indian developer and consultancy, which has previously seen a large forestry scheme rejected, is behind three huge new REDD projects attempting to bring fresh annual supply of more than 38 million carbon credits into the voluntary carbon market (VCM). Read More

Emissions exchange eyes free market, blockchain-based CO2 pricing platform concept with technology firm

Published 21:21 on December 6, 2022  /  Last updated at 21:22 on December 6, 2022  /  Americas, Canada, EMEA, US, Voluntary  /  No Comments

A blockchain technology company signed an agreement with a North American commodity exchange to develop a carbon pricing platform, the companies announced Monday. Read More