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NA Markets: CCA, RGA prices hit new all-time highs amid continued speculative interest
California Carbon Allowances (CCA) and RGGI Allowances (RGA) set fresh all-time highs on Monday as a combination of speculative interest, near-term fundamentals, and bullish expectations caused prices to surge. Read MoreTop
VER demand to swell 50 times over to hit net zero -analysts
Demand for voluntary emissions reductions (VERs) will need to skyrocket by 2050 to hit net zero emissions, with carbon neutral liquified natural gas potentially providing an additional growth channel for the offset market, analysts at a major investment bank said Friday. Read MoreTop
“Not acceptable” if Russia imposes carbon price only on exporters, says EU official
It would not be permissible for Moscow to only impose a carbon tax on exports as a means of shielding Russian firms from the impact of the EU’s border adjustment mechanism (CBAM), a senior EU official said on Monday. Read MoreTop
Euro Markets: Carbon sets new records as energy prices surge
European carbon prices extended Friday's record highs in on Monday amid solid gains across the energy complex, as equities rallied and API2 coal rose to its highest in 13 years. Read MoreTop
VCM Report: CORSIA-eligible offset prices retrace as nature-based units hold firm
Standardised voluntary emissions reductions (VER) prices moved in opposite directions over the past week, with CORSIA-eligible units reversing weeks of gains as nature-based offerings largely either slightly increased or decreased in value. Read MoreTop
California gasoline consumption stagnates near 1.2 bln gal, as diesel usage hits 10-year high
California gasoline usage dropped slightly month-on-month in June, while drivers' usage of the fuel remained within recent trends compared to pre-pandemic levels, according to state data released Monday. Read MoreTop
Australia Market Roundup: Analysts downplay near-term impact of net zero goal, as over 50 projects earn new ACCUs
As the likelihood increases that Australia will commit to a 2050 net zero target ahead of the Glasgow COP talks, analysts said Monday such a pledge would be unlikely to have a near-term impact on domestic carbon credits. Read MoreTop
Australia’s net zero target should include agriculture but offsets likely needed, report claims.
Australia’s agricultural sector should not be exempt from a nationally-set target to reach net zero emissions by 2050, according to a report released on Monday by an energy policy think tank. Read MoreTop
German parties prepare to jostle for coalition standing following close election
Germany is set to head into coalition negotiations once again after exit polls suggested Sunday’s election failed to determine a clear winner, with the tension between energy prices and legal obligations under the country's Climate Protection Law due to be key sticking points in determining who will rule Europe's biggest economy. Read MoreTop
Commodities firm Gunvor parts ways with emissions trading boss
Gunvor's head of emissions has parted ways with the trading house, joining the wave of wide-reaching staffing changes this year as carbon market experts become hot commodities themselves amid soaring permit prices. Read MoreTop
Norwegian Air faces €65 mln bill for EU ETS non-compliance
Norwegian Air Shuttle has been fined NOK 400 million (€40 mln) for failing to comply under the EU ETS earlier this year, despite data showing the airline had a sufficient supply of allowances and reports of managers taking home hefty bonuses. Read MoreTop
Green groups piloting methodology for assessing VCM project types, standards
An environmental NGO-led initiative is currently demoing a methodology for scoring voluntary carbon market (VCM) project types and programmes, and the group hopes that its financial independence from voluntary emissions reduction (VER) issuances or services will help differentiate it from other entities also seeking to grade credits in the booming sector. Read MoreTop
CN Markets: China carbon price edges down, as ETS challenges remain
The price for Chinese Carbon Emissions Allowances (CEAs) came down slightly over the past week, but the overall market situation remained the same as none of the regulatory and administrative uncertainties hanging over the market have been addressed. Read MoreTop
Euro Markets: EU and UK carbon post new all-time highs on buying surge as funds pile in
EU Allowance prices rose to a new record on Friday amid a surge of buying, while UKAs also set a new all-time high as funds piled in and buyers chased the market higher in an effort to secure supply. Read MoreTop
