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UK keeps carbon price floor in place for another year

Published 16:56 on October 27, 2021  /  Last updated at 16:56 on October 27, 2021  /  Carbon Taxes, EMEA, UK ETS  /  No Comments

The UK will maintain over fiscal 2023-24 its freeze on the rate of its Carbon Price Support tax on power sector CO2 emissions, the finance ministry said in its budget on Wednesday, while cutting fuel duty on domestic flights and cancelling a planned rate rise for cars. Read More
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Carbon-backed crypto initiative buys nearly 7 mln offsets in first week after launch

Published 09:44 on October 27, 2021  /  Last updated at 10:25 on October 27, 2021  /  International, Voluntary Market  /  No Comments

A digital currency protocol backed by carbon credits has purchased close to 7 million VCS units in the first week after its launch, while reaching a market cap of over $1.1 billion. Read More
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Euro Markets: Midday Update

Published 12:59 on October 27, 2021  /  Last updated at 12:59 on October 27, 2021  /  EMEA, EU ETS, UK ETS  /  No Comments

Carbon prices lost touch with their recent highs on Wednesday morning, drifting in concert with energy markets amid a slowdown in trading activity. Read More
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Government offset announcement stuns China’s carbon market

Published 13:55 on October 27, 2021  /  Last updated at 13:57 on October 27, 2021  /  China, China's National ETS, China's Offset Market  /  No Comments

China’s carbon market was paralysed on Wednesday as traders stepped back to digest news that the government will allow all CCER types to be used for compliance in the national emissions trading scheme. Read More
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Global investors call for accelerated climate policy action as COP26 nears

Published 10:01 on October 27, 2021  /  Last updated at 10:01 on October 27, 2021  /  Climate Talks, International  /  No Comments

Over 700 institutional investors representing $52 trillion in managed assets have called for governments to take ambitious policy action to avoid a “catastrophic” rise in global temperatures and to manage climate risk, according to a statement from the combined group of financial heavyweights released on Wednesday. Read More
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Chinese banks tie interest rate to carbon emissions performances

Published 07:26 on October 27, 2021  /  Last updated at 07:26 on October 27, 2021  /  China, China's National ETS, China's Offset Market, China's Pilot Markets  /  No Comments

Some Chinese lenders have begun offering interest rates linked to emission levels, as the nation’s financial sector strive to develop new climate-related products. Read More
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EU emissions drop 10% amid pandemic restrictions as renewables rise to top

Published 20:46 on October 26, 2021  /  Last updated at 20:46 on October 26, 2021  /  EMEA, EU ETS  /  No Comments

EU greenhouse gas emissions fell 10% in 2020 as pandemic restrictions curbed factory and transport output, while renewables overtook fossil fuels for the first time in the bloc’s power mix. Read More
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By the numbers: A snapshot of the EU ETS – 2020-21 edition

Published 19:38 on October 26, 2021  /  Last updated at 23:47 on October 26, 2021  /  EMEA, EU ETS, Switzerland, UK ETS  /  No Comments

The European Commission on Tuesday released its annual report on the functioning of the EU ETS, which covered the market’s developments in 2020 and into 2021. Read More
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G20 carbon pricing still lagging even as coverage improves -OECD

Published 22:45 on October 26, 2021  /  Last updated at 22:45 on October 26, 2021  /  Africa, Americas, Asia Pacific, Australia, Canada, Carbon Taxes, China, EMEA, International, Other APAC, South & Central, US  /  No Comments

Nearly half of all energy-related CO2 emissions in major economies are now subject to a carbon price, though rates remain too low to lead a successful transition to net zero, the OECD said in a report published Tuesday. Read More
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California gasoline usage hits pandemic high during July, diesel drops

Published 22:11 on October 26, 2021  /  Last updated at 22:11 on October 26, 2021  /  Americas, Canada, US  /  No Comments

California gasoline consumption rose to a new pandemic-era high in July despite remaining far off levels from two years ago, as diesel retraced from a 10-year record, according to state data published Monday. Read More
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Canada sees former climate activist Guilbeault named new environment minister

Published 19:36 on October 26, 2021  /  Last updated at 20:18 on October 26, 2021  /  Americas, Canada, Carbon Taxes, RINs & LCFS  /  No Comments

Former environmental campaigner Steven Guilbeault was named Minister of Environment and Climate Change as part of Canadian Prime Minister Justin Trudeau’s new Liberal Party cabinet sworn in Tuesday, only days before the country’s delegation leaves for COP26. Read More
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China rules all CCER offset types eligible for ETS compliance in 2019, 2020

Published 13:03 on October 26, 2021  /  Last updated at 13:03 on October 26, 2021  /  China, China's National ETS, China's Offset Market, China's Pilot Markets  /  No Comments

China’s environment ministry on Tuesday said all domestic offsets will be eligible for use in the first compliance cycle of its national emissions trading scheme, including units generated almost two decades ago that have been banned from all the eight regional pilot markets for years. Read More
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Spain refines ideas to curb EU ETS speculation, EU remains split on energy market action

Published 11:46 on October 26, 2021  /  Last updated at 23:03 on October 26, 2021  /  EMEA, EU ETS  /  No Comments

Spain has unveiled several ideas for curbing EU ETS speculation as part of wider proposals to reform the bloc’s energy market, with Madrid urging the EU to explore the plans as part of its work to amend the Fit for 55 climate policy package. Read More
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Euro Markets: EUAs test resistance at €60 as energy gives up early gains

Published 18:25 on October 26, 2021  /  Last updated at 22:19 on October 26, 2021  /  EMEA, EU ETS, UK ETS  /  No Comments

EUAs forged higher on Tuesday to test technical resistance levels in thin trade, while energy prices gave up early gains amid signs of progress on the approval of the Nord Stream 2 pipeline. Read More
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China drops 2030 climate action plan but adds few new details

Published 14:09 on October 26, 2021  /  Last updated at 14:09 on October 26, 2021  /  China, Climate Talks, International  /  No Comments

China’s State Council on Tuesday released an action plan to show how it intends to meet the goal of peaking emissions by 2030, but most of the content was plans already revealed. Read More