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EU nations lay groundwork on 2030 climate goal ahead of key summit
EU delegations have begun work on the conclusions of a key EU summit on Dec. 10-11 where the 27-nation bloc’s leaders could agree a higher 2030 GHG reductions target, although some hurdles remain. Read MoreTop
UK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents
The British government is consulting the oil and gas industry about penalties under a post-Brexit UK emissions trading scheme, in what observers said was another potential sign the country will opt to implement a domestic cap-and-trade system instead of a tax when it leaves the EU ETS at the end of this year. Read MoreTop
WCI emitters' capital, emissions outlook could have played factor in Q4 auction buying
WCI compliance entities shifted their Q4 auction bidding strategies on future emissions outlooks for the linked cap-and-trade programme, internal allowance limits, and available capital, leading the group to procure fewer carbon permits than the previous sale, traders said. Read MoreTop
UK govt fines trio of grounded airlines over £130 mln for EU ETS breaches
The UK has levied more than £130 million in fines on three grounded airlines for not complying with their obligations under the EU carbon market. Read MoreTop
Averna acquisition of ClimateCare puts offset firm on "professional investment footing" ahead of market boom, says founder
The recent acquisition by private equity firm Averna Capital of a majority stake in ClimateCare will help prepare the low-carbon project developer for massive growth in the global offset market, the company’s founder told Carbon Pulse. Read MoreTop
Russia submits slightly higher Paris pledge that still allows for vast emissions growth
Russia became the 13th nation to submit a new NDC to the Paris Agreement on Wednesday, with the world’s fourth largest emitter confirming a decree signed earlier this month. Read MoreTop
EU Market: EUAs briefly lift above €28 on markets rally, strong auction
EUAs neared €28 on Wednesday to continue this week's upward move as wider financial markets rose on prospects for a smooth US presidential transition and COVID-19 vaccine progress, while data showed investors continued to pile into the EU ETS ahead of the looming supply drought. Read MoreTop
California distributes 158k offsets in smallest issuance since July
California regulator ARB this week divvied out 158,700 compliance offsets, breaking a six-week streak of issuances over 1 million and marking its smallest issuance since July. Read MoreTop
Canadian CFS prices to remain well under compliance fund value through 2030 -analysis
Canadian Clean Fuel Standard (CFS) credit values will not come close to reaching the proposed programme’s maximum price over the next decade, even under a scenario that requires significant biofuels uptake, according to an analysis published Tuesday. Read MoreTop
