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UPDATE - Analysts ratchet down EU carbon price forecasts as lawmakers strengthen bloc's energy targets
Analysts have cut their EU carbon price forecasts as the EU clinched agreements to raise its 2030 renewable energy and energy efficiency targets, warning that the impact of increased ambition won’t be fully absorbed by the market's supply-curbing MSR. Read MoreTop
South Korean firms ink PoA deal as country eyes new CDM projects following carbon market rule change
Three South Korean firms have signed a preliminary agreement to invest in a cookstove PoA, as investors and participants in the country's emissions trading scheme dip their toes back into the CDM market after the government earlier this year made some UN-issued carbon credits eligible for compliance use. Read MoreTop
Former PM Abbott throws fresh spanner in the works for Australia’s NEG
Australia’s former Prime Minister Tony Abbott on Wednesday threatened to vote against his own party’s proposed National Energy Guarantee (NEG) because it focuses too much on cutting carbon emissions. Read MoreTop
Blockchain network launches new EV collaboration to trace California LCFS credits
A blockchain partnership has teamed up with a California municipal utility to introduce renewable energy tracking for electric vehicles (EVs) and create a digital record of Low Carbon Fuel Standard (LCFS) credits. Read MoreTop
EU lawmakers strike deal on energy efficiency to confirm more climate ambition
EU lawmakers agreed on a 32.5% bloc-wide energy efficiency target late on Tuesday, which along with a scaled-up renewables goal would mean the bloc exceeding its 2030 emission goal and curbing demand in the EU ETS. Read MoreTop
California’s ARB posts latest thinking on carbon market allowance revenue, assistance factors
California regulator Air Resources Board (ARB) released a preliminary discussion draft on Tuesday that would give utilities more options for spending consigned allowance revenue in the state’s cap-and-trade programme, while also updating industry assistance factors and offset protocol procedures. Read MoreTop
Ontario carbon allowances remain eligible for WCI compliance, but much larger questions remain
Ontario carbon allowances held in Quebec and California will remain valid for compliance following Ontario’s departure from the WCI programme, though it remains unclear how the three jurisdictions will manage the fallout from Premier-designate Doug Ford’s decision to kill the province's carbon market. Read MoreTop
RBS fraud lawsuit: Former trader says initial rise in spot EUA volume not suspicious
A sharp rise in EUA spot trading in early 2009 was initially thought to be more likely due to a natural maturing of the carbon market rather than tax fraud, according to a former trader at UK bank RBS on Tuesday during a trial over a £160 million ($212 mln) lawsuit. Read MoreTop
EU Market: Late selling knocks EUAs to fresh 1-mth low, as traders eye options expiry
European carbon prices fell to a new one-month low on Tuesday as late selling wiped out earlier gains prompted by the day’s bullish auction. Read MoreTop