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Traders are bracing for EUAs to fall further despite a price collapse that has wiped out a year’s worth of gains in just over a week, losses that many have blamed on big speculative short-sellers pouncing while carbon was vulnerable.
European carbon prices touched a new nine-month low near €7 on Tuesday as selling carried on for a seventh straight day, though buyers briefly emerged after a bullish auction result.
Sustainable forest management company and REDD+ project developer Amazonas Florestal Ltd on Tuesday said it had completed the acquisition of Earth Pass LLC, which owns 64,000 acres of Brazilian forest eligible for carbon credits.
Bite-sized updates from around the world
IMF staff paper favours carbon tax on bunker fuels: The DC-based body said levies on bunker fuels were “promising”, it said, and a possible source of climate finance – support for developing countries to go green and adapt to shifting weather patterns. In a report it said carbon pricing should be “front and centre” in efforts to curb global warming and pointed out that a $30/tCO2 tax embedded in international transport fuels could have raised $25bn in 2014. (Climate Home)
Many of the world’s major oil and gas companies are still grappling with how to respond to the Paris Agreement, interviews with several industry officials revealed. (E&E)
Nothing lasts forever – Alberta’s environment minister told an oil and gas conference on Monday night that she hopes the government’s broad-based carbon tax won’t have to be collected forever. (CBC)
And finally… Are carbon consultancies naive to serve both public and private clients? Maarten Neelis of Ecofys defends his company’s approach and recent work for the EU steel sector.
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