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Washington offers nearly 40% more allowances in second carbon market auction
The Washington Department of Ecology (ECY) raised the volume of current vintage allowances offered in the jurisdiction’s second cap-and-invest sale, while also tendering future vintage permits for the first time, according to an official notice published Friday. Read MoreTop
Watchdog cautions Canadian carbon levy increase to C$65 results in net loss to households
Canada’s 'revenue-neutral' CO2 charge that is slated to increase to C$65/tonne ($48) on Apr. 1 will result in a net loss on average to households in all provinces falling under the federal ‘backstop’, a government watchdog outlined Thursday. Read MoreTop
US Carbon Markets and LCFS Roundup for week ending March 31, 2023
A summary of legislative, regulatory, and policy action on carbon, clean fuel standard, and clean energy markets at the US federal and subnational levels this week, including North Carolina House budget language to block a RGGI-modelled cap-and-trade regulation and the advancement of a carbon offset bill in Washington state. Read MoreTop
EU seeks views on 2040 emissions target, requires increase in removals
The European Commission launched a consultation on Friday as part of its preparation for proposing EU 2040 climate goals next year to ensure the bloc hits its binding net zero emissions goal a decade later. Read MoreTop
Japan, India announce intention to forge carbon trading partnership under the JCM
India is set to become Japan’s next Article 6 carbon trading partner, after the two nations on Friday announced they had signed an agreement to initiate talks over signing a Joint Crediting Mechanism (JCM) deal. Read MoreTop
Euro Markets: EUAs post first monthly loss since December despite 4.9% weekly gain amid firm sentiment
EUAs traded higher on Friday, climbing above the €91 level that has offered resistance in recent days and reaching the highest in a week, while energy prices were firmer amid forecasts for cooler temperatures and as Chinese PMI data suggested demand for LNG cargoes may improve. Read MoreTop
EU should change definition of fossil fuel subsidies as aid levels soar -report
The EU should refine its definition of fossil fuel subsidies to help keep a lid on rising levels of government aid that is undermining the net zero transition, green groups said in a report this week. Read MoreTop
Older carbon project methodologies may not align with CCP, warns Gold Standard
Gold Standard will only need to make a few tweaks to comply with IC-VCM's programme-level Core Carbon Principles (CCPs), the certifier said Friday, despite admitting some of its older methodologies could face alignment challenges and that future credit level assessment could impact individual projects. Read MoreTop
Speculators’ CCA net length hits 12-mth high, producers keep steady in WCI and RGGI
Financial players this week saw their California Carbon Allowance (CCA) net long position reach the highest since last March, while compliance entities modestly added to their holdings across North American carbon markets, according to US Commodity Futures Trading Commission (CFTC) data published Friday. Read MoreTop
PREVIEW: Japan takes modest but vital step towards national carbon market with launch of GX League
Japan next week launches the GX League, a nationwide decarbonisation initiative that involves the operation of a voluntary carbon market that over time will be expanded and culminate in an economy-wide mandatory emissions trading scheme in the world's third-biggest economy a decade from now. Read MoreTop
China seeks offset methodology proposals, as CCER relaunch moves closer
China's environment ministry has called for proposals for offset methodologies under the CCER scheme, marking a step towards resuming the country's suspended voluntary carbon market. Read MoreTop
CN Markets: CEA liquidity improves on block deals, CCER sentiment brightens amid regulatory updates
The spot price ticked up only marginally in China’s emissions trading scheme over the past week as two block trades injected some much-needed liquidity into the market, while recent regulatory updates have ignited hope among participants in the long-stalled offset sector. Read MoreTop
Australia should start working on a CBAM ASAP, experts say
With the Safeguard Mechanism set to kick off in July, experts have argued that Australia should start work on a carbon border adjustment mechanism (CBAM) as quickly as possible to address carbon leakage risks, and provide investment certainty. Read MoreTop
EDF to shut UK coal-fired power plant
EDF's West Burton A coal-fired power station will close later this year, the company announced this week. Read MoreTop
