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Washington offers nearly 40% more allowances in second carbon market auction

Published 21:49 on March 31, 2023  /  Last updated at 23:01 on March 31, 2023  /  Americas, Canada, US  /  No Comments

The Washington Department of Ecology (ECY) raised the volume of current vintage allowances offered in the jurisdiction’s second cap-and-invest sale, while also tendering future vintage permits for the first time, according to an official notice published Friday. Read More
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Watchdog cautions Canadian carbon levy increase to C$65 results in net loss to households

Published 19:56 on March 31, 2023  /  Last updated at 20:07 on March 31, 2023  /  Americas, Canada, Carbon Taxes  /  No Comments

Canada’s 'revenue-neutral' CO2 charge that is slated to increase to C$65/tonne ($48) on Apr. 1 will result in a net loss on average to households in all provinces falling under the federal ‘backstop’, a government watchdog outlined Thursday. Read More
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US Carbon Markets and LCFS Roundup for week ending March 31, 2023

Published 20:07 on March 31, 2023  /  Last updated at 20:07 on March 31, 2023  /  Americas, Nature-based, US, Voluntary  /  No Comments

A summary of legislative, regulatory, and policy action on carbon, clean fuel standard, and clean energy markets at the US federal and subnational levels this week, including North Carolina House budget language to block a RGGI-modelled cap-and-trade regulation and the advancement of a carbon offset bill in Washington state. Read More
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EU seeks views on 2040 emissions target, requires increase in removals

Published 21:21 on March 31, 2023  /  Last updated at 21:21 on March 31, 2023  /  EMEA, EU ETS  /  No Comments

The European Commission launched a consultation on Friday as part of its preparation for proposing EU 2040 climate goals next year to ensure the bloc hits its binding net zero emissions goal a decade later. Read More
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Japan, India announce intention to forge carbon trading partnership under the JCM

Published 13:00 on March 31, 2023  /  Last updated at 16:59 on March 31, 2023  /  Asia Pacific, International, Japan, Other APAC, Paris Article 6  /  No Comments

India is set to become Japan’s next Article 6 carbon trading partner, after the two nations on Friday announced they had signed an agreement to initiate talks over signing a Joint Crediting Mechanism (JCM) deal. Read More
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Euro Markets: EUAs post first monthly loss since December despite 4.9% weekly gain amid firm sentiment

Published 17:18 on March 31, 2023  /  Last updated at 19:54 on March 31, 2023  /  EMEA, EU ETS, UK ETS  /  No Comments

EUAs traded higher on Friday, climbing above the €91 level that has offered resistance in recent days and reaching the highest in a week, while energy prices were firmer amid forecasts for cooler temperatures and as Chinese PMI data suggested demand for LNG cargoes may improve. Read More
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EU should change definition of fossil fuel subsidies as aid levels soar -report

Published 19:29 on March 31, 2023  /  Last updated at 19:39 on March 31, 2023  /  Carbon Taxes, EMEA, EU ETS  /  No Comments

The EU should refine its definition of fossil fuel subsidies to help keep a lid on rising levels of government aid that is undermining the net zero transition, green groups said in a report this week. Read More
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Older carbon project methodologies may not align with CCP, warns Gold Standard

Published 14:07 on March 31, 2023  /  Last updated at 14:07 on March 31, 2023  /  Voluntary  /  No Comments

Gold Standard will only need to make a few tweaks to comply with IC-VCM's programme-level Core Carbon Principles (CCPs), the certifier said Friday, despite admitting some of its older methodologies could face alignment challenges and that future credit level assessment could impact individual projects. Read More
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Speculators’ CCA net length hits 12-mth high, producers keep steady in WCI and RGGI

Published 22:13 on March 31, 2023  /  Last updated at 22:13 on March 31, 2023  /  Americas, Canada, US  /  No Comments

Financial players this week saw their California Carbon Allowance (CCA) net long position reach the highest since last March, while compliance entities modestly added to their holdings across North American carbon markets, according to US Commodity Futures Trading Commission (CFTC) data published Friday. Read More
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PREVIEW: Japan takes modest but vital step towards national carbon market with launch of GX League

Published 07:00 on March 31, 2023  /  Last updated at 07:00 on March 31, 2023  /  Asia Pacific, Japan  /  No Comments

Japan next week launches the GX League, a nationwide decarbonisation initiative that involves the operation of a voluntary carbon market that over time will be expanded and culminate in an economy-wide mandatory emissions trading scheme in the world's third-biggest economy a decade from now. Read More
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China seeks offset methodology proposals, as CCER relaunch moves closer

Published 06:36 on March 31, 2023  /  Last updated at 06:36 on March 31, 2023  /  Asia Pacific, China  /  No Comments

China's environment ministry has called for proposals for offset methodologies under the CCER scheme, marking a step towards resuming the country's suspended voluntary carbon market. Read More
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CN Markets: CEA liquidity improves on block deals, CCER sentiment brightens amid regulatory updates

Published 10:48 on March 31, 2023  /  Last updated at 10:48 on March 31, 2023  /  Asia Pacific, China  /  No Comments

The spot price ticked up only marginally in China’s emissions trading scheme over the past week as two block trades injected some much-needed liquidity into the market, while recent regulatory updates have ignited hope among participants in the long-stalled offset sector. Read More
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Australia should start working on a CBAM ASAP, experts say

Published 07:50 on March 31, 2023  /  Last updated at 07:56 on March 31, 2023  /  Asia Pacific, Australia, Carbon Taxes, CBAM  /  No Comments

With the Safeguard Mechanism set to kick off in July, experts have argued that Australia should start work on a carbon border adjustment mechanism (CBAM) as quickly as possible to address carbon leakage risks, and provide investment certainty. Read More
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EDF to shut UK coal-fired power plant

Published 10:55 on March 31, 2023  /  Last updated at 04:18 on April 1, 2023  /  EMEA, UK ETS  /  No Comments

EDF's West Burton A coal-fired power station will close later this year, the company announced this week. Read More
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Three APAC airlines make SAF deals in efforts to reach 2030 targets

Published 11:07 on March 31, 2023  /  Last updated at 11:07 on March 31, 2023  /  Asia Pacific, Australia, Aviation/CORSIA, Japan  /  No Comments

Three Asia-Pacific based airlines have announced Sustainable Aviation Fuels (SAF) deals, reflecting growing commitment among airlines in the region to use the fuel to help meet their long-term net zero targets. Read More