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Euro Markets: Midday Update
EUAs shot to a new record for the tenth time in 13 days as traders said financial participants continued to drive the market to loftier levels, triggering another high-level call for intervention, while energy prices advanced more modestly. Read MoreTop
Steel can go green by 2050 with $278 bln spend, report says
Steel can be produced with almost no carbon emissions by 2050 if $278 billion in investment to decarbonise the industry is made over the next three decades, a report released on Wednesday claimed. Read MoreTop
South Korea to open ETS to financials this month
South Korea will open its emissions trading market up to participation from about 20 financial institutions later this month, according to the environment ministry. Read MoreTop
Malaysia eyes late 2022 start for domestic carbon market
Malaysia plans to launch a domestic emissions trading market late next year, beginning with voluntary offset trade before rolling out an ETS at a later date, the country’s environment minister said Wednesday. Read MoreTop
Inpex inks four more “carbon neutral” gas deals
Inpex, Japan’s largest oil and gas operator, has signed four separate carbon neutral gas agreements with local Japanese gas and power companies, the company has announced. Read MoreTop
UPDATE - New Zealand carbon auction clears at new record high
The New Zealand government on Wednesday sold all the allowances on offer in its quarterly NZU auction at a record high price, immediately pushing the secondary market into unchartered territory. Read MoreTop
California watchdog to ‘more pointedly’ call out allowance glut, suspect offsets
A California independent advisory committee laid out options on Tuesday for how the state’s cap-and-trade programme could better align with climate targets while highlighting issues such as carbon border measures and the spike of non-compliance trading, as it debated its annual recommendations. Read MoreTop
UK ETS regulator to announce intervention decision within 2 weeks after cost containment triggered
The UK ETS Authority will announce by Dec. 14 how it will respond to a three-month rise in UK Allowance prices that has taken the market above the threshold for possible intervention, the regulator said late Tuesday. Read MoreTop
PREVIEW: Traders unsure whether Q4 RGGI auction will unleash excess volume
The quarterly RGGI auction on Wednesday is set to clear at a new peak after allowance prices soared this fall, though a retracement following a surprising WCI sale result last week has left traders with mixed thoughts on whether bids will be high enough to trigger the programme’s Cost Containment Reserve. Read MoreTop
Brussels aims to target foreign producers in methane-cutting efforts
The EU should focus on cutting methane emissions from foreign energy producers while improving monitoring of its own relatively smaller output, EU sources said on Tuesday, outlining the bloc's upcoming plans to help meet the aims of the recently adopted Global Methane Pledge. Read MoreTop
Think-tank boss appointed to Germany's economy and climate 'super-ministry'
The incoming German coalition government on Tuesday appointed the head of environmental think-tank Agora Energiewende as the top official in the new administration's beefed-up economy and climate ministry. Read MoreTop
UK industrial innovation funding shows modest signs of driving abatement
A UK government fund to award clean industry innovation could have a modest impact in driving down emissions in ETS-covered sectors if all companies adopted the technologies, programme data results released on Tuesday suggested. Read MoreTop
UN aviation body rejects latest offsetter applicants under CORSIA
UN aviation body ICAO’s Council has rejected all three of this year’s applications for eligibility under its CORSIA carbon offsetting scheme, declining to add the land-based initiatives to the seven programmes approved to date to provide airlines with a supply of carbon credits. Read MoreTop
Euro Markets: EUAs climb to record settlement price as UKAs leap on fund buying
EUAs set a new record settlement on Tuesday amid supportive fundamentals even as gas prices dropped after Russia vowed to increase flows into Europe, while UK Allowance futures jumped as the leading exchange-traded fund was said to have begun accumulating a position in the contract. Read MoreTop
