EU Market: EUAs fall back below €54 amid wider market correction

Published 18:17 on May 13, 2021  /  Last updated at 18:17 on May 13, 2021  /  EMEA, EU ETS  /  No Comments

EUAs paused its week-long record-breaking rally on Thursday, dropping as much as €2 at one point as global markets slid on worries about rising inflation. Read More

Japanese oil and gas firm to lean on CCS for net zero goal, eyes on offsets

Published 16:37 on May 13, 2021  /  Last updated at 16:37 on May 13, 2021  /  Asia Pacific, Australia, Japan  /  No Comments

Japan Petroleum Exploration Co. (Japex) on Thursday pledged to go carbon neutral by 2050, relying primarily on CCS/CCUS to get there, but the company is also considering carbon offset options. Read More

Startup raises $7.8 mln for nature-based offset ratings service

Published 16:25 on May 13, 2021  /  Last updated at 16:25 on May 13, 2021  /  Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, REDD, Voluntary Market  /  No Comments

Startup firm Sylvera has raised $7.8 million to expand its voluntary carbon offset ratings business, with early assessments judging that many nature-based projects fall short of their promised emissions cuts. Read More

CORRECTION - Almost 380 mln more EU carbon permits headed to MSR after pandemic inflates ETS surplus in 2020

Published 18:07 on May 12, 2021  /  Last updated at 17:55 on May 13, 2021  /  EMEA, EU ETS, UK ETS  /  No Comments

Almost 380 million more carbon allowances will be withdrawn from the EU ETS through next summer and inserted into the MSR, the European Commission announced late Wednesday in its annual 'TNAC' update, with the market's oversupply increasing by 14% last year largely due to the pandemic. Read More

EU Market: EUAs shoot to new heights above €55 after strong auction

Published 17:30 on May 12, 2021  /  Last updated at 03:52 on May 13, 2021  /  EMEA, EU ETS  /  No Comments

EUAs continued their record-breaking run on Wednesday, with prices jumping nearly 5% to above €55 after a strong pre-holiday auction and as investor inflows continued to build as trading data showed the number of reporting participants in the futures market rose to a record 900 firms. Read More

California offset issuances reach 2-month high, but fall beneath 2020 levels

Published 22:58 on May 12, 2021  /  Last updated at 22:58 on May 12, 2021  /  Americas, Canada, Mexico, US  /  No Comments

California regulator ARB’s offset issuances hit a two-month high this week as it minted nearly 500,000 new credits, but the year-to-date volume slipped beneath last year’s level, according to data published Wednesday. Read More

Power and industry emissions curbs face significant tightening under amended German climate law

Published 18:24 on May 12, 2021  /  Last updated at 04:00 on May 13, 2021  /  EMEA, EU ETS  /  No Comments

Power and industry will face the highest increase in ambition under Germany’s amended Climate Change Act adopted on Wednesday, though analysts believe the impact on EU carbon allowance demand can only be determined once the bloc’s carbon market reforms are undertaken. Read More

California’s carbon floor price set to exceed $19 in 2022 as inflation jumps in April

Published 13:51 on May 12, 2021  /  Last updated at 23:07 on May 12, 2021  /  Americas, Canada, US  /  No Comments

California’s WCI-linked cap-and-trade floor price is on pace to rise above $19.00 next year as inflation surged over April amid easing of COVID-19 restrictions across the US, according to federal data released Wednesday. Read More

UK lowers ETS cost containment trigger price ahead of market launch

Published 23:49 on May 12, 2021  /  Last updated at 03:42 on May 13, 2021  /  EMEA, EU ETS, UK ETS  /  No Comments

The UK government has lowered the trigger price for the mechanism to control spiking allowance prices in the country’s new carbon market. Read More

Iberdrola maintains rapid drop in Q1 thermal output, EDF emissions tick higher

Published 18:12 on May 12, 2021  /  Last updated at 18:12 on May 12, 2021  /  EMEA, EU ETS  /  No Comments

Spanish utility Iberdrola reported a 25.5% drop in its remaining EU ETS-covered generation in Q1 on Wednesday, continuing its rapid decarbonisation and diminishing need for carbon allowances. Read More