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Wales, Scotland slam 'cavalier, unacceptable' UK's EU ETS Brexit plan
The partly devolved Welsh and Scottish governments have expressed serious concerns over the UK government’s plans to exit the EU ETS and replace it with a carbon tax under a ‘no deal’ Brexit, calling the approach “cavalier” and “unacceptable”. Read MoreTop
EU Market: EUAs plunge back towards €18 amid technical selling, Brexit fears
EUAs gave back the gains of the previous two sessions on Monday, dropping back towards last week’s one-month low as a weak auction and Brexit developments dented bulls’ confidence. Read MoreTop
UK to exit EU ETS under ‘no deal’ Brexit, government announces
The UK will exit the EU carbon market in late March 2019 if Brexit negotiators fail to strike a divorce deal, the British government said in a notice late Friday, while also suggesting UK entities consider opening registry accounts on the continent to retain access to their emission unit holdings. Read MoreTop
UPDATE- UK asks advisers for guidance on timing for net zero emission goal
The UK government on Monday gave its independent advisers six months to produce advise on when it should set a net zero emission goal, but was slammed by the opposition for not asking for views that would involve Britain deepening its short-term targets. Read MoreTop
Investors to launch New Zealand’s first listed carbon fund
Investment firm Salt Funds Management will next month launch a dedicated carbon fund, the first to be listed on the New Zealand stock exchange (NZX), the company said. Read MoreTop
Chevron Australia urges protection against poor offset market liquidity
Australia should take steps to ensure that major emitters covered by the Safeguard Mechanism won’t face excessive penalty costs from high carbon prices stemming from poor liquidity in the offset market, oil major Chevron has told the Climate Change Authority (CCA). Read MoreTop
China’s Hebei to launch carbon offset market
China’s Hebei province will launch a pilot voluntary carbon offset market across five cities by the end of the year that could be implemented province-wide by 2020, with a view to making the Hebei carbon credits eligible for compliance use for local industry in the national emissions trading scheme. Read MoreTop
ETS back on agenda as China clarifies ministry role
China’s environment ministry has clarified the structure and role of its climate change division, adding the construction of the national emissions trading scheme to its list of duties after omitting the ETS from an initial overview published last month. Read MoreTop
Poland to compensate for higher EU carbon prices, repeats call for ETS intervention
The Polish government is preparing a plan to compensate industry and consumers for rising EUA prices, the country’s energy minister told local media, adding that he will again request that Brussels intervene in the market because the conditions for action have now been met. Read MoreTop