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EU nations lay groundwork on 2030 climate goal ahead of key summit

Published 13:21 on November 25, 2020  /  Last updated at 01:12 on November 26, 2020  /  EMEA, EU ETS  /  No Comments

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 More
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UK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents

Published 22:55 on November 25, 2020  /  Last updated at 23:17 on November 25, 2020  /  Climate Talks, EMEA, EU ETS, International  /  No Comments

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 More
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WCI emitters' capital, emissions outlook could have played factor in Q4 auction buying

Published 21:06 on November 25, 2020  /  Last updated at 21:06 on November 25, 2020  /  Americas, Canada, US  /  No Comments

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 More
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UK govt fines trio of grounded airlines over £130 mln for EU ETS breaches

Published 21:44 on November 25, 2020  /  Last updated at 00:15 on November 26, 2020  /  Aviation/CORSIA, Bavardage, EMEA, EU ETS, International  /  No Comments

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 More
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Averna acquisition of ClimateCare puts offset firm on "professional investment footing" ahead of market boom, says founder

Published 18:17 on November 25, 2020  /  Last updated at 18:26 on November 25, 2020  /  Africa, Americas, Asia Pacific, Bavardage, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, South & Central, Voluntary Market  /  No Comments

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 More
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Russia submits slightly higher Paris pledge that still allows for vast emissions growth

Published 17:51 on November 25, 2020  /  Last updated at 17:58 on November 25, 2020  /  Climate Talks, EMEA, International  /  No Comments

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 More
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EU Market: EUAs briefly lift above €28 on markets rally, strong auction

Published 19:43 on November 25, 2020  /  Last updated at 20:25 on November 25, 2020  /  EMEA, EU ETS  /  No Comments

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 More
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California distributes 158k offsets in smallest issuance since July

Published 22:06 on November 25, 2020  /  Last updated at 22:06 on November 25, 2020  /  Americas, Canada, US  /  No Comments

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 More
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Canadian CFS prices to remain well under compliance fund value through 2030 -analysis

Published 18:14 on November 25, 2020  /  Last updated at 18:14 on November 25, 2020  /  Americas, Canada, RINs & LCFS  /  No Comments

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 More
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Australia’s voluntary market sees strong growth from low base, data shows

Published 03:39 on November 25, 2020  /  Last updated at 14:02 on November 25, 2020  /  Asia Pacific, Australia  /  No Comments

Voluntary cancellations of Australian carbon credits in Q3 were 63% higher year-on-year, though numbers remain modest amid competition from international units and renewable energy credits. Read More