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EU adopts rules for €14 bln Modernisation Fund to deliver energy upgrades
The European Commission adopted on Thursday rules for the operation of the bloc’s Modernisation Fund, an ETS-funded financing instrument supporting mainly eastern EU nations to upgrade their energy systems. Read MoreTop
Free allocation of EUAs for industries needs rethink, says trade union policy advisor
Free allocation of EUAs for energy-intensive industries has prevented these sectors from enabling the technological innovations needed for their decarbonisation and should be reconsidered, an advisor to a Europe-wide industry trade union said on Thursday. Read MoreTop
EXCLUSIVE - EU lawmakers eye price ceiling, speculation curbs to prevent "cornering" of ETS
A growing number of European lawmakers are considering measures to curb speculation or cap prices in the EU ETS, Carbon Pulse has learned, as allowances skyrocket towards all-time highs on what some participants say are attempts by hedge funds and other algo-wielding investors to “corner” the market. Read MoreTop
EU Midday Market Briefing
EUAs fell back below €29 on Thursday, maintaining distance from this week's year-high as news that lawmakers were considering measures to curb the market's volatility or limit speculative activity spooked some traders. Read MoreTop
SK Market: Over-supplied Korean CO2 market plunges to 18-mth low
South Korea’s ETS prices collapsed nearly 10% on Thursday to their lowest levels since Jan. 2019, with support disappearing as industrials continued to dump surplus KAUs they normally would have banked. Read MoreTop
Rio Tinto's aluminium shutdown plan halts NZ carbon price bull run
Rio Tinto is preparing to shut down New Zealand’s only aluminium smelter next year amid high energy costs and a poor industry outlook, it said on Thursday, a move that paused the rapid rise in NZ carbon prices as traders digested the prospect of the nation’s biggest electricity consumer closing. Read MoreTop
ANALYSIS: Canadian Clean Fuel Standard seen withstanding carbon intensity target changes, delays
Recent alterations to the emission reduction goals and publication schedule of the Canadian Clean Fuel Standard (CFS) will not threaten its environmental performance, but numerous programme design elements warrant further attention and analysis before the policy’s 2022 launch, stakeholders and researchers told Carbon Pulse. Read MoreTop
California assigns 12.4 mln existing offsets DEB status, issues 670k new credits
California regulator ARB tagged 12.4 million existing compliance offsets as providing direct environmental benefits to the state (DEBs) as it granted more than 670,000 new credits this week, according to data published by the state agency on Wednesday. Read MoreTop
IMO policy should establish higher GHG reduction threshold for biofuels than CORSIA -report
The International Maritime Organization (IMO) should model its plan to decarbonise the global shipping sector on the CORSIA programme for aviation, but it should go further than its fellow UN body ICAO in setting a more ambitious carbon reduction target for sustainable fuels, according to a report published this week. Read MoreTop