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UPDATE: Brussels unveils its ‘moonshot’ European Green Deal
The European Commission unveiled its wide-ranging ‘European Green Deal’ on Wednesday, including a legislative proposal to enshrine a 2050 net zero emissions target into law by Mar. 2020 but snubbing lawmaker calls to immediately propose a deeper 2030 goal. Read MoreTop
Ottawa approves New Brunswick CO2 levy proposal for spring 2020
The Canadian federal government on Wednesday gave the green light for New Brunswick’s proposed carbon tax on fossil fuels beginning in April, a move that will allow the province to avoid coverage under Ottawa’s ‘backstop’ CO2 levy. Read MoreTop
California offsets issuance hits four-month high on burst of forestry credits
California regulator ARB granted nearly 2.4 million new California Carbon Offsets (CCOs) across two protocols this week, with the vast majority stemming from a large forestry project, according to data released Wednesday. Read MoreTop
COP25: Roundup for Wednesday, Dec. 11
The nearly 200 parties to the Paris Agreement on Wednesday dove headfirst into forging an agreement on the market-based Article 6 of the Paris Agreement, while dozens of attendees from environmental and indigenous groups were kicked out by UN security for protesting the slow pace of the talks. Read MoreTop
BRIEFING: Indonesia’s carbon trading plans
Indonesia has announced plans to launch a pilot carbon market next year, with a full-fledged emissions trading scheme to follow no later than 2024. A lot of specifics remain to be decided, but here are the details of the plans so far. Read MoreTop
EU Market: EUAs tumble late, shaking up Dec-19 options expiry
European carbon prices fell on Wednesday, as sellers aggressively sold the futures late in the day and ahead of today’s options expiry on ICE. Read MoreTop
COP25: UN's CORSIA advisory panel to make aviation offset recommendations in January
An ICAO technical advisory panel is slated to make recommendations in January over which of the initial 14 global offset programme applications should be eligible to supply the UN aviation body’s CORSIA market starting in 2021, with sources suggesting that any ultimate decisions by member states may not be clear cut. Read MoreTop
SK Market: Korean auction clears at new record high on strong demand
South Korea’s monthly KAU auction cleared at a record 40,900 won ($34.24) on Wednesday with secondary market prices also hitting all-time highs as strong demand and limited supply continue to push up prices. Read MoreTop
COP25: Pakistan takes step towards domestic carbon market, offset link with China
Pakistan has set up a national committee to assess the role and scope of a potential domestic carbon market as well as entering into a bilateral deal that could see the nation supply offsets to China’s national emissions trading scheme. Read MoreTop
