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NA Markets: CCA, RGA prices hit new all-time highs amid continued speculative interest

Published 22:04 on September 27, 2021  /  Last updated at 22:04 on September 27, 2021  /  Americas, Canada, US  /  No Comments

California Carbon Allowances (CCA) and RGGI Allowances (RGA) set fresh all-time highs on Monday as a combination of speculative interest, near-term fundamentals, and bullish expectations caused prices to surge. Read More
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VER demand to swell 50 times over to hit net zero -analysts

Published 22:50 on September 27, 2021  /  Last updated at 22:50 on September 27, 2021  /  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

Demand for voluntary emissions reductions (VERs) will need to skyrocket by 2050 to hit net zero emissions, with carbon neutral liquified natural gas potentially providing an additional growth channel for the offset market, analysts at a major investment bank said Friday. Read More
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“Not acceptable” if Russia imposes carbon price only on exporters, says EU official

Published 18:47 on September 27, 2021  /  Last updated at 22:41 on September 27, 2021  /  CBAM, EMEA, EU ETS, International  /  No Comments

It would not be permissible for Moscow to only impose a carbon tax on exports as a means of shielding Russian firms from the impact of the EU’s border adjustment mechanism (CBAM), a senior EU official said on Monday. Read More
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Euro Markets: Carbon sets new records as energy prices surge

Published 13:00 on September 27, 2021  /  Last updated at 01:55 on September 28, 2021  /  EMEA, EU ETS, UK ETS  /  No Comments

European carbon prices extended Friday's record highs in on Monday amid solid gains across the energy complex, as equities rallied and API2 coal rose to its highest in 13 years. Read More
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VCM Report: CORSIA-eligible offset prices retrace as nature-based units hold firm

Published 21:51 on September 27, 2021  /  Last updated at 22:15 on September 27, 2021  /  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 voluntary emissions reductions (VER) prices moved in opposite directions over the past week, with CORSIA-eligible units reversing weeks of gains as nature-based offerings largely either slightly increased or decreased in value. Read More
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California gasoline consumption stagnates near 1.2 bln gal, as diesel usage hits 10-year high

Published 19:53 on September 27, 2021  /  Last updated at 19:53 on September 27, 2021  /  Americas, Canada, US  /  No Comments

California gasoline usage dropped slightly month-on-month in June, while drivers' usage of the fuel remained within recent trends compared to pre-pandemic levels, according to state data released Monday. Read More
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Australia Market Roundup: Analysts downplay near-term impact of net zero goal, as over 50 projects earn new ACCUs

Published 11:55 on September 27, 2021  /  Last updated at 11:55 on September 27, 2021  /  Asia Pacific, Australia  /  No Comments

As the likelihood increases that Australia will commit to a 2050 net zero target ahead of the Glasgow COP talks, analysts said Monday such a pledge would be unlikely to have a near-term impact on domestic carbon credits. Read More
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Australia’s net zero target should include agriculture but offsets likely needed, report claims.

Published 06:51 on September 27, 2021  /  Last updated at 07:08 on September 27, 2021  /  Asia Pacific, Australia  /  No Comments

Australia’s agricultural sector should not be exempt from a nationally-set target to reach net zero emissions by 2050, according to a report released on Monday by an energy policy think tank. Read More
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German parties prepare to jostle for coalition standing following close election

Published 22:39 on September 26, 2021  /  Last updated at 00:04 on September 27, 2021  /  Carbon Taxes, EMEA, EU ETS, International  /  No Comments

Germany is set to head into coalition negotiations once again after exit polls suggested Sunday’s election failed to determine a clear winner, with the tension between energy prices and legal obligations under the country's Climate Protection Law due to be key sticking points in determining who will rule Europe's biggest economy. Read More
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Commodities firm Gunvor parts ways with emissions trading boss

Published 12:01 on September 25, 2021  /  Last updated at 12:20 on September 26, 2021  /  Bavardage, EMEA, EU ETS  /  No Comments

Gunvor's head of emissions has parted ways with the trading house, joining the wave of wide-reaching staffing changes this year as carbon market experts become hot commodities themselves amid soaring permit prices. Read More
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Norwegian Air faces €65 mln bill for EU ETS non-compliance

Published 21:56 on September 24, 2021  /  Last updated at 17:09 on September 25, 2021  /  Aviation/CORSIA, EMEA, EU ETS, International  /  No Comments

Norwegian Air Shuttle has been fined NOK 400 million (€40 mln) for failing to comply under the EU ETS earlier this year, despite data showing the airline had a sufficient supply of allowances and reports of managers taking home hefty bonuses. Read More
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Green groups piloting methodology for assessing VCM project types, standards

Published 21:25 on September 24, 2021  /  Last updated at 13:14 on September 25, 2021  /  Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, US, Voluntary Market  /  No Comments

An environmental NGO-led initiative is currently demoing a methodology for scoring voluntary carbon market (VCM) project types and programmes, and the group hopes that its financial independence from voluntary emissions reduction (VER) issuances or services will help differentiate it from other entities also seeking to grade credits in the booming sector. Read More
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CN Markets: China carbon price edges down, as ETS challenges remain

Published 08:49 on September 24, 2021  /  Last updated at 08:49 on September 24, 2021  /  China, China's National ETS, China's Offset Market  /  No Comments

The price for Chinese Carbon Emissions Allowances (CEAs) came down slightly over the past week, but the overall market situation remained the same as none of the regulatory and administrative uncertainties hanging over the market have been addressed. Read More
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Euro Markets: EU and UK carbon post new all-time highs on buying surge as funds pile in

Published 17:35 on September 24, 2021  /  Last updated at 01:49 on September 25, 2021  /  EMEA, EU ETS, UK ETS  /  No Comments

EU Allowance prices rose to a new record on Friday amid a surge of buying, while UKAs also set a new all-time high as funds piled in and buyers chased the market higher in an effort to secure supply. Read More
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Big Asian power group to ditch coal by 2040, target net zero by 2050

Published 06:35 on September 24, 2021  /  Last updated at 06:35 on September 24, 2021  /  Asia Pacific, Australia, China, Other APAC  /  No Comments

CLP Group, one of the largest investor-owned power businesses in the Asia-Pacific, will phase-out its coal-fired power assets by 2040 and target net zero emissions by 2050, the company announced on Friday. Read More