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UK government declines to add more UKAs to market after January intervention trigger

Published 18:20 on January 18, 2022  /  Last updated at 18:20 on January 18, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

The UK ETS Authority will not add any additional UK Allowances to the British market even after the market’s cost containment mechanism (CCM) was triggered for a second successive month at the end of December, it said on Tuesday. Read More
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Carbon price of $360/t required to decarbonise shipping by 2050 -report

Published 17:14 on January 18, 2022  /  Last updated at 17:14 on January 18, 2022  /  International, Shipping  /  No Comments

An average carbon price of almost $200 per tonne would be required to decarbonise the global shipping sector by 2050, with the price ultimately hitting heights of $360 in the target year, according to a report by an industry coalition published on Tuesday.  Read More
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Exxon snubs vast majority of emissions in aspirational 2050 net zero target

Published 17:24 on January 18, 2022  /  Last updated at 17:24 on January 18, 2022  /  Americas, International, US  /  No Comments

ExxonMobil on Tuesday announced it will hope to reach net zero GHG output from its operations by mid-century, though it continued the trend of American oil majors declining to cover emissions from their products within their climate strategies. Read More
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ANALYSIS: US oil companies lag in climate targets, avoid lifecycle commitments

Published 11:20 on January 18, 2022  /  Last updated at 17:22 on January 18, 2022  /  Americas, Aviation/CORSIA, Climate Talks, EMEA, EU ETS, International, US, Voluntary Market  /  No Comments

The climate goals of US oil and gas companies are less ambitious compared with their European counterparts as they avoid firm commitments to address full lifecycle emissions and set targets that enable their absolute greenhouse gas output to rise. Read More
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South Pole increases VCM presence in Africa with Carbonsink acquisition

Published 15:10 on January 18, 2022  /  Last updated at 15:28 on January 18, 2022  /  Aviation/CORSIA, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, REDD, Switzerland, Voluntary Market  /  No Comments

Integrated carbon services firm South Pole has expanded its business in Africa through its acquisition of Carbonsink, an Italian-based consultancy with more than 30 carbon-cutting projects on the continent. Read More
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Euro Markets: EUAs stage strong afternoon rally amid aggressive buying

Published 17:45 on January 18, 2022  /  Last updated at 18:26 on January 18, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

EUAs reversed early losses on Tuesday as trading volumes picked up amid aggressive buying, while energy markets were firmer even as gas supplies from Norway recovered after brief interruptions. Read More
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Australian emitters double voluntary carbon offset cancellations in 2021

Published 09:25 on January 18, 2022  /  Last updated at 09:25 on January 18, 2022  /  Asia Pacific, Australia, International, Kyoto Mechanisms, Voluntary Market  /  No Comments

Australian companies doubled the number of carbon credits they retired voluntarily from the national registry last year, though the growth was far higher for cheap, plentiful UN-issued credits than the expensive, less-available domestic units. Read More
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China’s auto industry on track to miss carbon neutral target, analysts find

Published 09:33 on January 18, 2022  /  Last updated at 09:33 on January 18, 2022  /  China, China's National ETS  /  No Comments

Emissions from China’s car making industry are set to plateau after peaking in 2027, putting the sector off track for a 2060 net zero pathway, according to an analysis by a green group released on Tuesday. Read More
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UN chief warns Davos on climate inaction, global risks

Published 19:53 on January 17, 2022  /  Last updated at 09:47 on January 18, 2022  /  Africa, Americas, Asia Pacific, Australia, Canada, China, Climate Talks, EMEA, International, Japan, Mexico, Middle East, New Zealand, Other APAC, South Korea, Switzerland, US  /  No Comments

UN Secretary General Antonio Guterres told the World Economic Forum (WEF) on Monday that there is no sign that governments are planning to effectively manage climate risks, urging the private sector to step up efforts and avoid greenwashing well ahead of November's COP27 UN climate talks in Egypt. Read More
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Key lawmaker seeks to curb flexibilities for EU nations' 2030 climate goals

Published 19:05 on January 17, 2022  /  Last updated at 19:58 on January 17, 2022  /  EMEA, EU ETS, International  /  No Comments

EU member states should pursue emissions-cutting efforts in non-ETS sectors without resorting to flexibilities that may keep longer term targets out of reach, according to the lead parliamentarian for the bloc's revised Effort-Sharing Regulation (ESR). Read More
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Euro Markets: EUAs slip along with energy markets as gas supply issues diminish

Published 17:30 on January 17, 2022  /  Last updated at 18:00 on January 17, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

EUA prices fell in line with weaker gas and power markets on Monday amid forecasts for milder weather suggested gas supply is unlikely to be severely tested this winter, as demand for EUAs remained modest and trading activity was very limited. Read More
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Carbon Cap fund ends 2021 with 59% gain as average carbon allowance price tops $60

Published 13:39 on January 17, 2022  /  Last updated at 13:39 on January 17, 2022  /  EMEA, EU ETS, New Zealand, UK ETS, US  /  No Comments

Fund manager Carbon Cap's World Carbon Fund closed 2021 with a 59% annual gain, as allowances prices in the five main cap-and-trade systems rose to an average of $60/tonne, the company said on Monday. Read More
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Shell sees increasing role for carbon price in China’s decarbonisation process

Published 12:30 on January 17, 2022  /  Last updated at 12:30 on January 17, 2022  /  China, China's Offset Market  /  No Comments

China’s domestic carbon price could rise 400% above current levels by 2030 and kick on from there as part of the country’s efforts to decarbonise by 2060, oil major Shell said in a report Monday. Read More
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VCM Report: Nature-based contract hits new heights while CORSIA units falter

Published 17:59 on January 17, 2022  /  Last updated at 22:36 on January 17, 2022  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, China, China's Offset Market, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, South & Central, US, Voluntary Market  /  No Comments

Standardised nature-based voluntary emissions reductions (VER) prices found strength this week, while technology-based CORSIA-eligible credits and others generally flatlined or sank. Read More
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NZ Market: NZUs sprint to new high as demand holds firm

Published 10:54 on January 17, 2022  /  Last updated at 10:54 on January 17, 2022  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon allowances hit a new record again on Monday, as the market continues to anticipate rising prices in the year ahead. Read More